U.S. stocks sank to their worst loss in weeks as worries swept markets worldwide about the economic carnage caused by the coronavirus pandemic.
During Tuesday’s media briefing, Gov. Eric Holcomb said he wasn’t ready to suggest a date for when businesses like retailers, restaurants or office workers could return but everyone should “be prepared” for that day.
The $484 billion legislation would increase funding for the Paycheck Protection Program by $310 billion, boost a separate small business emergency grant and loan program, and direct billions to hospitals and a new coronavirus testing program.
The federal rescue measure was designed for companies with fewer than 500 workers, but Small Business Administration guidelines allow some bituminous coal mining firms with up to 1,500 employees to qualify for the loans.
Officials on both sides said the goal was still to pass the agreement at a 4 p.m. Senate session on Tuesday, although it was not certain whether that could be achieved.
The department said Monday that death numbers would begin increasing because it would begin reporting presumptive positive deaths in its totals.
About 91% of Indiana restaurant operators said they have had to either furlough or lay off workers since the COVID-19 outbreak began, with at least 15% anticipating they’ll have to take additional action in the next 30 days.
One month after the pandemic forced the cancellation of the lucrative NCAA men’s basketball tournament, officials at athletic departments and college sports conferences across the country remain puzzled by one question: Why wasn’t the NCAA better prepared for this?
Organizers concluded there was “no clear path to safely set a new date in 2020” because of the coronavirus pandemic.
Elaine Pulakos, the CEO of talent management consulting firm PDRI, talks about her new research that reveals why creating stability in your workplace frees your employees to be focused and rational so they “act like shock absorbers” during a crisis like the pandemic.
The loan program, geared toward Kite tenants that operate fewer than five retail locations, will accept applications beginning Friday. Industry experts say many mall tenants weren’t able to pay April rent.
Governors in the Midwest are hoping to keep large meatpacking plants operating amid coronavirus outbreaks that have sickened hundreds of workers and threaten to disrupt the nation’s supply of pork and beef.
Boeing and at least one other U.S. heavy-equipment manufacturer resumed production and some states rolled out aggressive reopening plans Monday, despite nationwide concerns there is not enough testing yet to keep the coronavirus from rebounding.
Indiana Legal Services, Prosperity Indiana, Neighborhood Christian Legal Clinic and Indiana Institute for Working Families petitioned the court to protect the payments issued as part of the federal Coronavirus Aid, Relief and Economic Security Act.
Gov. Eric Holcomb said Monday the state would re-evaluate whether to allow hospitals and surgery centers to resume services at 11:59 p.m. Sunday if they have sufficient protective equipment for treating COVID-19 patients.
Investors expect Monday’s volatility to stay in place in coming days as Wall Street heads into the thick of the earnings season.
The emerging agreement, nearly double President Donald Trump’s request to replenish the small business program, adds funds for hospitals and COVID-19 testing.
Despite OPEC’s unprecedented output deal agreed a week ago, the oil market remains massively oversupplied as the lockdowns to fight the spread of the coronavirus reduce global crude demand by about a third.
The upscale, 247-room Conrad suspended operations on Saturday in what management called a temporary measure “that is reflective of the current business environment.”
The department said 47.5% of the state’s intensive care unit beds were still available. About 23% are being used by COVID-19 patients.
