Apr 14 Cities, counties fear losing out on U.S. virus rescue funding By Brian Slodysko, Richard Lardner, Associated Press The $2.2 trillion federal rescue package could fail to deliver badly needed financial aid to thousands of smaller cities and counties where a majority of Americans live, according to documents and interviews with local officials. Continue reading
Apr 14 IMF: Global economy will suffer worst year since Depression By Paul Wiseman, Martin Crutsinger, Associated Press Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. Continue reading
Apr 14 New Trump team to explore path to reopening U.S. economy By Jonathan Lemire, Kevin Freking, Aamer Madhani, Associated Press The council, which is not expected to include health officials, could bring to the forefront the push-pull tensions within the White House between economists and public health officials over how quickly to reopen the economy vs. proceeding cautiously to ensure… Continue reading
Apr 13 Virus closes some meat plants, raising fears of shortages By Josh Funk, Associated Press The new coronavirus has sickened workers at meat processing plants across the country, forcing some massive operations to close at least temporarily. Continue reading
Apr 13 IMF cancels debt payments for 6 months for 25 poor nations By Edith M. Lederer, Associated Press The International Monetary Fund has approved $500 million to cancel six months of debt payments for 25 of the world's most impoverished countries so they can help tackle the COVID-19 pandemic. Continue reading
Apr 13 Workers sue McDonald's over harassment at Florida stores By Dee-Ann Durbin, Associated Press Two McDonald's workers in Florida are filing a $500 million class action lawsuit against the company, claiming a "systemic sexual harassment problem" at company-owned stores. Continue reading
Apr 13 Watch 8:39 How COVID-19 is exacerbating Detroit's poverty and racial inequality By John Yang, Meredith Lee Low-income Americans are bearing the brunt of COVID-19. Detroit, a city already facing steep economic and racial inequalities, has emerged as a virus hot spot. John Yang reports and talks to the United Way for Southeastern Michigan's Darienne Hudson about… Continue watching
Apr 13 Government loans start flowing to small businesses By Joyce M. Rosenberg, Associated Press Money that was held up by technological and legal issues and the sheer volume of applications began arriving in companies' bank accounts at the end of last week. The Small Business Administration says more than 941,000 applications have been approved… Continue reading
Apr 13 WATCH: Sanders endorses Biden for president during virtual COVID-19 event By Associated Press The backing is a crucial development for Joe Biden, who must bridge the Democratic Party's ideological divide to unify voters against President Donald Trump in the fall. Continue reading
Apr 12 OPEC, oil nations agree to nearly 10M barrel cut amid virus By Jon Gambrell, Associated Press OPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said. Continue reading