Markets
Target to limit number of shoppers, supply workers with masks and gloves
Target will provide all team members in stores and distribution centers with high-quality, disposable face masks and gloves to wear at the beginning of every shift and strongly encourage that they be worn while working. Target is implementing new safety measures starting Saturday because of the coronavirus outbreak, and it may impact your shopping experience at the retailer. [Full Article...]
Schumer 'appalled' over Trump letter: 'Stop the pettiness'
Schumer added that he sent the letter to Trump "with the best of intentions trying to improve a very bad situation". In his letter, Schumer suggested "a data-driven, organized and robust plan from the federal government" was the only to resolve the difficulty states have reported in obtaining medical equipment. [Full Article...]
Federal program offers financial relief for small businesses impacted by COVID-19
There is a funding cap, so we encourage you to apply early. Organizations can apply for PPP by calling their banks and other SBA-backed lenders directly. Businesses in certain industries may still be eligible with over 500 employees if they meet SBA size standards for those industries. Starting April 10, 2020, independent contractors and self-employed individuals can apply. [Full Article...]
Social Security recipients won't need to file taxes to get stimulus check
But Mnuchin said that the Treasury Department is working with companies to speed up payments, opening the possibility Americans without bank accounts could receive their money digitally or through prepaid debit cards. Lawmakers have urged the IRS to process the payments quickly so that unemployed workers can use them to pay bills. Social Security recipients and railroad retirees who are otherwis... [Full Article...]
Businesses borrowing under Coronavirus Business Interruption Scheme
Chancellor Rishi Sunak will speak to the banks, which have been are accused of taking advantage of the crisis . Alongside changes to the original scheme, a new Coronavirus Large Business Interruption Loan Scheme (CLBILS) will ensure that more companies are able to benefit from government-backed support during this hard time. [Full Article...]
Over 300,000 food service jobs lost in Ontario: Restaurants Canada
Restaurants Canada polled thousands of restaurants across the country and found that four out of five restaurants have already laid off workers, while 70 per cent say they will have to cut back on hours or lay off more staff if the current situation doesn't improve. [Full Article...]
HSBC, StanChart shares tumble in Hong Kong after banks scrap dividend
Originally HSBC shareholders would receive 21 United States cents of dividend per share by 14 April, but now the bank will not resume dividend payment at least till next year. Commenting on the scrapping of payouts, Barclays chairman Nigel Higgins said: "These are hard decisions, not least in terms of the immediate impact they will have on shareholders". [Full Article...]
Disney to Furlough Some Employees Over Virus-Forced Shutdowns
Disneyland helped donate 100,000 N95 masks to medical workers fighting COVID-19. For this, Disney partnered with MedShare , a humanitarian aid organization which would be in charge of distributing them to hospitals in need. In a statement released by the company , Disney stated that it had donated more than 270 tons of excess food to area food banks. "Walt Disney World theme parks, Disney R... [Full Article...]