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April 5, 2020

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The watchdogs overseeing the $2.3 trillion U.S. bailout

Reuters
by Reuters05
WASHINGTON (Reuters) – Who’s watching over the U.S. government’s largest bailout in history – the $2.3 trillion in fiscal stimulus to fight the economic impact of the coronavirus? FILE PHOTO: An empty street is seen during the outbreak of the coronavirus disease (COVID-19) in Brooklyn, New York City, U.S., March......
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Trump says will ask Congress for more small business funds if money runs out

Reuters
by Reuters06
U.S. President Donald Trump addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 3, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump said on Saturday he would ask Congress for more money to make loans to small businesses struggling with the economic......
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Trump invokes Defense Production Act to stop export of masks

Reuters
by Reuters01
U.S. President Donald Trump speaks during a roundtable with energy sector CEOs in the Cabinet Room of the White House in Washington, U.S., April 3, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump on Friday signed an order directing his administration to stop N-95 face masks and other......
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Trump says 3M ‘will have a big price to pay’ over face masks

Reuters
by Reuters03
U.S. President Donald Trump listens during the daily coronavirus response briefing at the White House in Washington, U.S., April 2, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump slammed 3M Co (MMM.N) in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act......
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Trump says he expects Saudi-Russia oil production deal in coming days

Reuters
by Reuters01
U.S. President Donald Trump speaks as U.S. Defense Secretary Mark?Esper listens during the coronavirus daily briefing at the White House in Washington, U.S., April 1, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday he expected Saudi Arabia and Russia to reach a deal in the......
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U.S. airlines must suggest possible compensation for cash grants: Treasury

Reuters
by Reuters07
WASHINGTON/CHICAGO (Reuters) – Airlines must suggest possible compensation in return for government cash assistance and agree to conditions that include not cutting pay or laying off employees through Sept. 30, the U.S. Treasury Department said in guidelines issued on Monday as it prepares to quickly hand out $25 billion. FILE......
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Pence says virus taskforce soon to deliver recommendation on whether to re-open economy

Reuters
by Reuters03
FILE PHOTO: Vice President Mike Pence addresses the coronavirus task force daily briefing at the White House in Washington, U.S., March 24, 2020. REUTERS/Jonathan Ernst (Reuters) – Vice President Mike Pence, heading the Trump administration’s response to the coronavirus outbreak, said on Saturday that he would deliver a recommendation to......
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Treasury: U.S. will be ‘compensated’ for assistance to airlines

Reuters
by Reuters03
WASHINGTON (Reuters) – U.S. Treasury Secretary Steve Mnuchin said on Friday that taxpayers will “compensated” for providing up to $25 billion in direct grants to the airline industry. FILE PHOTO: Treasury Secretary Steve Mnuchin takes a phone call in the hall outside a meeting to wrap up work on coronavirus......
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U.S. airlines cheer government relief but warn it is no ‘cure’ for deep industry crisis

Reuters
by Reuters07
CHICAGO (Reuters) – United Airlines Holdings Inc and Delta Air Lines welcomed on Friday a $50 billion relief package they said would protect jobs through September but warned that the continued challenges facing the industry will require more action. Delta Air Lines passenger planes are seen parked due to flight......
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Wall Street tumbles as U.S. virus cases pass 100,000

Reuters
by Reuters03
(Reuters) – Wall Street stocks tumbled on Friday, ending a massive three-day surge after doubts about the fate of the U.S. economy resurfaced and the number of coronavirus cases in the country climbed. U.S. stocks deepened their losses late in the session, even after the House of Representatives approved a......
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Oil plunges posting fifth straight weekly loss despite stimulus efforts

Reuters
by Reuters05
NEW YORK (Reuters) – Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field......
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Reuters - Business

Oil plunges more than 5% despite stimulus efforts

Reuters
by Reuters04
NEW YORK (Reuters) – Oil prices plunged more than 5% on Friday and were on track for a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. FILE PHOTO: A pump jack operates in front of a drilling rig at......
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European shares fall as investors take stock of spreading virus

Reuters
by Reuters010
LONDON (Reuters) – European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. FILE PHOTO: A general view shows the German share prize......
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Reuters - Business

Singapore Airlines latest to get massive bailout amid coronavirus crisis

Reuters
by Reuters07
SINGAPORE/SYDNEY (Reuters) – Singapore Airlines Ltd (SIAL.SI) said it had secured up to S$19 billion ($13 billion) of funding to help see it through the coronavirus crisis and expand afterward, in a sign of confidence travel demand will eventually return. FILE PHOTO: A Singapore Airlines plane sits on the tarmac......
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U.S. House leaders determined to pass $2.2 trillion coronavirus bill

Reuters
by Reuters05
WASHINGTON (Reuters) – Leaders of the U.S. House of Representatives are determined to pass a $2.2 trillion coronavirus relief bill on Friday, or at the very latest on Saturday, hoping to provide the quickest help possible as deaths mount and the economy reels. On a call with fellow Democrats on......
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U.S. House sets Friday debate for coronavirus aid bill

Reuters
by Reuters09
WASHINGTON (Reuters) – The U.S. House of Representatives will begin a two-hour debate on a sweeping, $2.2 trillion coronavirus aid bill at 9 a.m. (1300 GMT) on Friday but it was not clear whether the measure would be able to pass on a voice vote, the House Majority Leader’s office......
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Reuters - Business

European shares fall as investors take stock of spreading virus

Reuters
by Reuters08
LONDON (Reuters) – European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. FILE PHOTO: A general view shows the German share prize......
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Reuters - Business

Pelosi expects bipartisan House vote for $2 trillion coronavirus bill Friday

Reuters
by Reuters010
WASHINGTON (Reuters) – U.S. House Speaker Nancy Pelosi said she expected the chamber to pass an estimated $2.2 trillion coronavirus relief bill when it meets on Friday, after the Senate overwhelmingly approved the unprecedented economic rescue legislation Wednesday evening. “Tomorrow we’ll bring the bill to the floor. It will pass......
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Reuters - Business

Dow wraps up strongest three days since 1931

Reuters
by Reuters09
(Reuters) – The Dow Jones Industrial Average .DJI wrapped up its strongest three days in nine decades on Thursday as record weekly U.S. jobless claims came in below investors’ worst fears and the focus stayed on an unprecedented $2 trillion stimulus awaiting approval by the U.S. House of Representatives. The......
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