Business & Economy
Business & Economy
How To Avert Economic Catastrophe: Ideas From 5 Top Economists
Avoid layoffs at any cost. Set up emergency financing for states and cities to help health systems. Cut regulations to speed medical response. Those are some recommendations from leading economists.
U.S. Economic Slowdown In Coming Months May Be Worst On Record
Forecasters say the government’s aggressive efforts to curtail the spread of the virus will trigger the sharpest slowdown on record. Some see the economy shrinking a staggering 24%.
Federal Tax Deadline Extended To July 15 Over Coronavirus Pandemic
U.S. taxpayers will have a three-month extension to file their taxes because of the coronavirus pandemic, Treasury Secretary Steven Mnuchin said Friday. He said that at the president’s direction, “we are moving Tax Day from April 15 to July 15.”
From Symphony Orchestras To Wedding Bands, Musicians Cope With The Coronavirus Cancellations
Bigger artists may count on fan support and labels to carry them through canceled tours, but working musicians — from orchestra members and wedding singers to indie rappers — are looking elsewhere.
White House Pushes For Quick, Direct Payments To Americans In Response To Coronavirus
“We want to go big,” President Trump said as his administration seeks to boost the now stalled economy.
Coronavirus Prompts New Mandatory Work Measures At Washington State Agencies
Even as Washington Gov. Jay Inslee uses his emergency powers to restrict gatherings of more than 50 people and orders the closure of bars, restaurants and other gathering spaces for at least the next two weeks, state agencies are scrambling to implement emergency measures to protect their employees and those they serve from the rapid spread of coronavirus.
Stocks Go Into Shock. Dow Plunges Nearly 3,000 Points
U.S. stock indexes fell sharply Monday, a day after the Federal Reserve aggressively cut interest rates to near zero in a bid to stop the economy from crashing. The Dow Jones Industrial Average dropped 2,997.20 points, or about 13%, as coronavirus measures rapidly expanded. The S&P 500 index lost nearly 12%.
Fed Cuts Rates To Near Zero As Coronavirus Rips Through Economy
The Federal Reserve cut its key interest rate to near zero — a dramatic move not seen since the depths of the 2008 financial crisis. President Trump — who has slammed the Fed — praised the move.
Dow Plunges 2,300 Points, Market Moves Into Bear Territory With Biggest One-Day Drop Since ’87
The Dow Jones Industrial Average fell nearly 10% — its biggest one-day drop since 1987 — as the coronavirus pandemic continued to rattle markets. Trading was temporarily halted earlier in the day.
PepsiCo Seeks Boost In Energy Drink Market With Purchase Of Rockstar
PepsiCo’s move to purchase Rockstar reflects shifting consumer tastes, which have steadily moved away from soda to other offerings such as tea-flavored beverages and low-calorie drinks.
Oil Prices, Stocks Plunge After Saudi Arabia Stuns World With Massive Discounts
Oil prices and stock indexes were in freefall Sunday after Saudi Arabia announced a stunning discount in oil prices — of $6 to $8 per barrel — to its customers in Asia, the United States and Europe.
U.S. Added 273,000 Jobs Last Month, But Economists Brace For Coronavirus Impact
Economists warned that business and consumer caution about the virus is likely to weigh on job growth in the months to come.
