Markets
Walmart temporarily closing 2 Mass. stores to allow for additional cleaning, restocking
The store was closed for a professional cleaning last week, and its reopening is pending further inspection. Worcester Department of Public Health officials found Tuesday that workers and shoppers in the store were not wearing personal protective equipment to mitigate the spread of the virus, the city said. [Full Article...]
European Central Bank keeps key interest rates unchanged, boosts pandemic response
FRANKFURT , Germany (AP) - The European economy shrank by a record 3.8% in the first quarter as business activity from hotels and restaurants to construction and manufacturing was frozen by shutdowns aimed at preventing the spread of the coronavirus. [Full Article...]
Warren Buffett's Berkshire Hathaway loses $50B during coronavirus pandemic
Fauci for educating and informing me- actually along with my friend Bill Gates, too - and I know I get it from a straight-shooter when I get it from either one of those", said Buffett. "We will not fund a company that - where we think that it is going to chew up money in the future". Buffett said operating earnings will, through at least this year, be "considerably less" than they would have b... [Full Article...]
Jeff Bezos to testify before Congress over ‘misleading’ statements from Amazon
On Friday they demanded Bezos testify, threatening a subpoena if he did not agree voluntarily . As CNBC notes , Jeff Bezos is the only CEO of one of the big-four United States tech companies - Amazon, Apple, Google and Facebook - to have not testified before Congress. [Full Article...]
Analysts ignore Musk's lockdown rant to praise Tesla results
Musk's remarks come around a year after Tesla managed to end a series of legal and regulatory rows over Musk's social media posting by agreeing to restrictions with regulators. by the end of April. Tesla's stock was trading lower by more than 4% at $750 at the time of publication Friday. Musk expressed his frustration with the mandatory shelter in place orders due to the coronavirus pandemic... [Full Article...]
United States allows use of Remdesivir
Food and Drug Administration issued an emergency-use authorization for hospitalized COVID-19 patients , CNN reported. The authorization clears remdesivir for use for hospitalized adults and children with severe cases of COVID-19, such as those requiring supplemental oxygen or ventilation. [Full Article...]
Coronavirus cases in Russian Federation rise by record daily amount, mortality rate slows
The number of new infections climbed for the fifth day in a row, with a total to date of 134,687, the country's emergency team said in a statement. But the official fatality rate is low in comparison to countries like Italy, Spain and the United States. [Full Article...]
Round two PPP numbers show greater focus on smaller loans, banks
Senate and House tax committee leaders expressed their belief that the IRS guidance is contrary to congressional intent and that Congress might act to clarify its intent in subsequent COVID-19-related bills. As of 6 p.m. on April 29, more than 960,000 PPP loans totaling almost $90 billion and processed by almost 5,300 lenders were approved. Banks have thousands more loans to submit, and many owner... [Full Article...]