Federal Reserve to boost small business lending efforts
WASHINGTON (AP) — The Federal Reserve said Monday it will support the government's $349 billion small business lending program, which had a rocky start Friday.
US weighs 'war bonds'; Facebook launches virus survey
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to the global economy, the work place and the spread of the virus.
Wall Street leaps 7%, markets rally worldwide on virus hopes
NEW YORK (AP) — Investors grabbed hold of a few glimmers of hope Monday that the coronavirus pandemic could be slowing and sent stocks surging in a worldwide rally, capped by a 7% leap for the U.S.
After virus fades, service industries may be changed forever
WASHINGTON (AP) — For years, personal trainer Amanda Tikalsky didn’t have to worry much about her job. The U.S. economy’s record-breaking 11-year expansion offered security to service workers like her.
Virus puts event planning industry on brink of devastation
PHOENIX (AP) — Arizona caterer Pat Christofolo has been orchestrating high-end events for over a quarter-century: A lavish spread for a wedding dinner back-dropped by red rocks in Sedona, a holiday party for 1,000 in an airplane hangar, mezcal cocktails under the desert sky.
Work starts in Montana on disputed Canada-US oil pipeline
BILLINGS, Mont. (AP) — A Canadian company said Monday that it's started construction on the long-stalled Keystone XL oil sands pipeline across the U.S.-Canada border despite calls from tribal leaders and environmentalists to delay the $8 billion project amid the coronavirus pandemic.
Cracks in Europe's shared currency reappear in virus crisis
FRANKFURT, Germany (AP) — The virus outbreak is exposing cracks in the foundation of Europe's 21-year-old shared currency and festering animosities among its members, even as governments struggle to come up with a unified response where success or failure could mark the continent's politics for years to come.
US 'wasted' months before preparing for coronavirus pandemic
WASHINGTON (AP) — After the first alarms sounded in early January that an outbreak of a novel coronavirus in China might ignite a global pandemic, the Trump administration squandered nearly two months that could have been used to bolster the federal stockpile of critically needed medical supplies and equipment.
SeaWorld CEO resigns five months into job, cites board
ORLANDO, Fla. (AP) — SeaWorld Entertainment's chief executive has resigned only five months into his job, becoming the third leader of the theme park company to depart in just over two years, according to a company filing released Monday.
Coronavirus patients rush to join studies of Gilead drug
The new coronavirus made Dr. Jag Singh a patient at his own hospital. His alarm grew as he saw an X-ray of his pneumonia-choked lungs and colleagues asked his wishes about life support while wheeling him into Massachusetts General’s intensive care unit.
US company poised to start COVID-19 vaccine safety test
A second U.S. company is poised to begin a small safety test of a vaccine against the new coronavirus. Inovio Pharmaceuticals said Monday that it has Food and Drug Administration permission for the study in 40 healthy volunteers in Philadelphia and Kansas City, Missouri.
Governors plead for food stamp flexibility amid pandemic
PHOENIX (AP) — Yvonne Knight, who has respiratory problems that make her especially vulnerable in the coronavirus pandemic, can't buy groceries online with her food stamps — even though each trip to the store is now a risky endeavor.
Chaos and scrambling in the US oil patch as prices plummet
NEW YORK (AP) — In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an oil truck driver who supports his family just went a week without pay.
Grocery workers are key during the virus. And they're afraid
AUSTIN, Texas (AP) — Every day, grocery workers are restocking toilet paper, eggs, produce and canned goods as fast as the items fly off the shelves.
Shares rebound on glimmers of progress in battling virus
BANGKOK (AP) — Asian shares and U.S. futures rebounded on Monday as investors grasped at threads of hope that the battle against the coronavirus pandemic may be making some progress in some hard-hit areas.
Boeing to continue production shutdown due to coronavirus
SEATTLE (AP) — Boeing said Sunday it will continue its shutdown of production indefinitely at its Seattle area facilities due to the spread of the coronavirus.
Europe sees more signs of hope as Italy's virus curve falls
ROME (AP) — Europe saw further signs of hope in the coronavirus outbreak Sunday as Italy's daily death toll was at its lowest in more than two weeks and its infection curve was finally on a downward slope.
German restaurant takes novel approach to keep cider flowing
FRANKFURT, Germany (AP) — How does a traditional German restaurant comply with the untraditional demands of the coronavirus era? Thomas Metzmacher was faced with the prospect of having to shut down his Frankfurt restaurant specializing in a traditional tart hard cider due to German regulations prohibiting groups of people from gathering amid the coronavirus pandemic.
No COVID-19 testing at home yet but quicker options coming
WASHINGTON (AP) — Home testing for the new coronavirus may sound like a good idea, but U.S. regulators say it's still too risky. They've stopped companies that quickly launched home-testing kits until they can show their products can accurately detect the virus.
Seafood industry struggling to stay afloat amid outbreak
PORTLAND, Maine (AP) — The seafood industry has been upended by the spread of the coronavirus, which has halted sales in restaurants and sent fishermen and dealers scrambling for new markets.
At funerals in virus outbreak, mourning is from a distance
LEXINGTON, S.C. (AP) — No one stands in line to embrace the widow and share memories of her husband of 50 years. No rows of family and friends file toward the flag-draped coffin to pay their last respects.
State unemployment systems tested by surge of applicants
Americans are seeking unemployment benefits at unprecedented levels due to the coronavirus, but many are finding more frustration than relief.
Saudi Arabia sharply rebukes Russia over oil price collapse
DUBAI, United Arab Emirates (AP) — Saudi Arabia sharply criticized Russia on Saturday over what it described as Moscow blaming the kingdom for the collapse in global energy prices, showing the tensions ahead of an emergency meeting of OPEC and other oil producers.
Walmart limits store access; US airlines sign up for grants
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus.
White House convenes oil CEOs as bust threatens US boom
WASHINGTON (AP) — President Donald Trump offered assurances of better times and coronavirus tests to oil CEOs at a White House summit Friday, but no firm proposals for easing the industry's way as the coronavirus pandemic and plunging petroleum prices threaten America's yearslong fracking boom.