May 7, 2020
“Half of American families in the 56-to-61 age bracket had less than $21,000 in retirement savings in 2016…Forty percent of Americans over the age of 60 who are no longer working full-time rely solely on Social Security for their income — the median annual benefit is about $17,000.”
The layoffs associated with social distancing practices have wiped out all of the job gains the economy has seen since the recovery from the Great Recession.
Uber Technologies Inc. on Wednesday became the latest major company to announced long-term layoffs, saying it would be eliminating 3,700 jobs, or 14% of its staff worldwide. A day earlier, Airbnb Inc. said it was cutting 25% of its workforce, or about 1,900 people worldwide.
The surge in delayed payments could leave mortgage service companies…with a liquidity shortfall of as much as $100 billion over the next nine months, according to the MBA
- Increased digitization
- Delivering consumer relief with scale and speed
- Leveraged technology to serve borrowers
Driving the downturn is a growing reticence among consumers to make large purchases at a moment when their jobs and incomes are far from guaranteed.
“We have heard estimates that as much as 50 percent of the restaurants that have closed may not reopen…hat is really troubling when we think of our economy, the job market and the district’s bottom line.”
“It would’ve created massive uncertainty and exacerbated the problem tremendously…If there was ever a question that technology and innovation is the future of Wall Street, we’re seeing that future right now.”
“The workplaces that we left are not going to be the workplaces that we go back to…We’re going to have to learn a new way of interacting with each other that was not the way we were interacting a few months ago.”
Iowa school district sends Wi-Fi vans into vulnerable communities as coronavirus keeps students home
Six vans equipped with Wi-Fi have been serving as hotspot connections in Sioux City’s most vulnerable communities.
Norwegian said it may lack sufficient funds to meet its financial obligations for the next year and that it could not be certain of its ability to raise more money on acceptable terms. Those challenges mean there is “substantial doubt” that it can “continue as a going concern,” the filing said.
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