May 29 WATCH: Powell says Fed will soon begin 'challenging' Main Street lending By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch of a program lending directly to private companies. Continue reading
May 29 WATCH: House Oversight Committee holds briefing with mayors on need for federal support during COVID-19 By Courtney Vinopal The House Subcommittee on the Coronavirus Crisis will hold a briefing May 29 with mayors across the country to speak about their need for federal support as they begin to reopen their economies amid the pandemic. Continue reading
May 29 Europe's social welfare net shows signs of wear from virus By Angela Charlton, Colleen Barry, Nick Perry, Associated Press Europe’s extensive social welfare net is showing signs of fraying under economic strain from the coronavirus. Protests erupted Friday for the second day in Spain against layoffs by French carmaker Renault, and Italy’s chief central banker warned that ’’uncertainty is… Continue reading
May 29 COVID-19 sinks consumer spending 13.6% in April By Martin Crutsinger, Associated Press Friday's Commerce Department figures reinforced evidence that the economy is gripped by the worst downturn in decades, with consumers unable or too anxious to spend much. Continue reading
May 28 Watch 8:35 Why U.S. economic policy needs to support all Americans to be successful The economic toll of the pandemic and the ensuing shutdowns continues to grow, with more than 40 million people losing jobs so far. Although economic activity will pick up as businesses reopen, there is growing debate about how government policy… Continue watching
May 28 Watch 7:16 Could the pandemic usher in a new era of working from home? By Paul Solman Many Americans are working from home during the coronavirus pandemic, and it’s unclear when people will or should return to the workplace. The shift toward more remote work could have significant repercussions for employees, companies and the marketplace. Economics correspondent… Continue watching
May 28 Man charged for attempted $317 million sale of virus masks that didn't exist By Associated Press A Georgia man has been charged in federal court with trying to swindle a foreign government out of $317 million in exchange for a huge shipment of masks to protect against the coronavirus that didn't really exist. Continue reading
May 28 French hospital workers protest lack of funds By Associated Press Hospital workers gathered outside Robert-Debré hospital in North-East Paris Thursday to protest what they describe as the government's lack of interest in France's public health system. Continue reading
May 28 Trump escalates war on Twitter, social media protections By Zeke Miller, Associated Press President Donald Trump is preparing to sign an executive order aimed at curbing liability protections for social media companies. Continue reading
May 28 Airlines increase job cuts as pandemic crushes air travel By David Koenig, Danica Kirka, Associated Press From Britain's EasyJet to American and Delta in the U.S., airlines are cutting even more jobs to cope with a crushing drop in air travel caused by the coronavirus. Continue reading