Markets
House Passes $484 Billion COVID-19 Relief Package
The previous PPP package was recently hit with controversy, with "big cat" companies, institutions like Harvard University, and mega restaurant chains Shake Shack and Ruth Chris receiving large sums from the program. President Donald Trump participates in a signing ceremony for the Paycheck Protection Program and Health Care Enhancement Act at the White House on Friday. [Full Article...]
How major United States stock indexes fared Thursday
That brought the total claims for the past five weeks to more than 26 million. But the extent to which these programs will ease the strain on businesses and unemployed workers has to be proved in practice, Mr. Wall Street trading began on a slightly mixed note on Friday as oil prices continued to recover from the week's historic sell-off. Prices for the 10-Year Treasury gained ground, lowering y... [Full Article...]
AR firm Magic Leap lays off employees at "every level"
Magic Leap was in the process of exploring a sale, Bloomberg had also reported , one that could value the company at $10 billion. In a blog post Wednesday, Magic Leap founder/CEO Rony Abovitz introduced that the corporate is "making focused modifications to how we function and handle prices", citing the present COVID-19 disaster. [Full Article...]
Georgia Unemployment Claims Top 1 Million
Louisiana now has the 13th-highest percentage of unemployment claims, according to the Tax Foundation , with unemployment claims at 15.9% of the workforce. U.S. Treasury prices were trading lower. US stocks opened higher as investors focused on the decline in claims. NY state is now trying to get past that impossibly. [Full Article...]
Coronavirus: U.S. Amazon workers stage a ‘call out’
CNBC talked to Amazon workers from around the country about what it's really like to work inside a warehouse during the surge of demand created by the Covid-19 pandemic. But some workers have said they've struggled to receive pay after being sent home with a fever. Hundreds of Amazon employees said this week that they have pledged not to go into work, according to worker rights group United... [Full Article...]
German software company SAP posts rises in Q1 revenue, profits
The statement further carried a strong private endorsement of Klein by SAP's co-founder and chairperson, Hasso Plattner, who stated he had "complete confidence in Christian's business vision and ability". Morgan joined SAP in 2004 and became the first American woman ever appointed to the SAP executive board when she was named President of the Americas and Asia in 2017. [Full Article...]
European Union leaders agree to mobilise €1 trillion as Covid-19 rescue plan
But the leaders did agree to task the European Commission with revamping the EU's next seven-year budget, due to come in to force on January 1 but still the subject of much disagreement, and devise a massive recovery plan. "It was unthinkable until now. We will continue to coordinate our position with like-minded countries". Meanwhile, EU leaders endorsed a short-term 540 billion euro ($590 bill... [Full Article...]
Five new cases, nine recoveries from COVID-19 across Saskatchewan
On Thursday Premier Scott Moe unveiled his government's plan to gradually lift COVID-19-related restrictions in a series of phases. In the first two phases, much of the precautionary measures Canadians have been following for weeks will stay in effect, Moe said. [Full Article...]