Markets

How to Apply for Those Paycheck Protection Loans

How to Apply for Those Paycheck Protection Loans The PPP loans-authorized by the CARES Act , which was passed and signed into law on Friday-will be all or partially forgiven if a company retains its workers or doesn't cut their salaries. Independent contractors and self-employed individuals can apply beginning April 10, 2020. Funds will be made available within three days of a successful application , and this loan advance will not have to b... [Full Article...]

Markets Surge on Saudi, Russia Production Cut News

Markets Surge on Saudi, Russia Production Cut News Russia's refusal last month to extend and deepen production cuts with OPEC and its de facto leader Saudi Arabia sparked immediate backlash from Riyadh, where oil policy is largely dictated by Crown Prince Mohammed bin Salman . Oil markets plunged in March as the production feud between Saudi Arabia and Russian Federation intensified as global demand plunged due to the coronavirus pandemic ... [Full Article...]

China fears second wave of COVID-19 outbreak

China fears second wave of COVID-19 outbreak Many on social media said they were terrified of the high number of asymptomatic carriers, and some called for health officials to break down the data by province. While the proportion of people who have contracted the virus but remain asymptomatic is now unknown, scientists say these "carriers" can still pass COVID-19 onto others who do end up getting sick. [Full Article...]

Oil Soars After Trump Says Saudi Arabia, Russia to Cut Supply

Oil Soars After Trump Says Saudi Arabia, Russia to Cut Supply Saudi Arabia was expected to call an emergency meeting of the Organization of Petroleum Exporting Countries. Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russian Federation to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal. [Full Article...]

United States jobless claims surge to 6.65 million- another record

United States jobless claims surge to 6.65 million- another record Unemployment claims in the USA soared to 6.6 million last week, the Department of Labor reports. Governors in 37 states have issued stay-at-home orders requiring "non-essential" establishments, such as bars and restaurants that don't offer take-out service, to shut down while ordering people to stay indoors unless they seek out groceries or other establishments that provide basic services. [Full Article...]

US unemployment claims hit record 6.6 million

US unemployment claims hit record 6.6 million More than 6.6 million Americans filed for new jobless claims in the week that ended March 28, doubling the record amount seen the previous week, when the COVID-19 crisis was beginning to wallop the USA economy. All 50 USA states reported an increase in unemployment claims, with the biggest spikes in Pennsylvania (up 362,012), OH (up 189,263) and MA (up 141,003). [Full Article...]

Federal Prisons Enter Lockdown Amid Coronavirus Outbreak

Federal Prisons Enter Lockdown Amid Coronavirus Outbreak New Orleans Public Radio learned of the death from staff at the facility. Many inmates and staff at the Federal Correctional Institution 1 in Oakdale are anxious about their health, after the deaths of two inmates, and others diagnosed with COVID-19. [Full Article...]

British Airways expected to suspend 36000 staff

British Airways expected to suspend 36000 staff While both sides have agreed to a broader agreement, however, some points remain to be agreed upon. Employees will be suspended rather than made redundant, with a percentage of wages being paid via the government's coronavirus job retention scheme, which covers 80 per cent of individuals' salaries capped at a maximum of £2,500 per month. [Full Article...]


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