April 30, 2020

Unemployment Claims Top 30 Million in U.S

A study by the Economic Policy Institute found that roughly 50 percent more people than counted…were stymied in applying or didn’t even try because they found the process too formidable.

GDP sinks 4.8% in the first quarter, biggest drop since 2008 and there is worse to come

The economy is likely to contract by 25% or more in the second quarter, with some forecasts putting the decline at a record 40%.

Coronavirus ‘will become a seasonal virus’ and could blight world for a decade

“There’s no going back to the old normal. There’s going to be a new normal, and that trust between the government and people is so important to making this work.”

Lyft lays off 17% of workforce, furloughs hundreds more

Lyft’s filing comes just a day after … Lyft’s rival Uber is discussing laying off 20% of its staff.

Hertz in talks with creditors to avoid debt default, faces May 4 deadline

Even before the pandemic, Hertz and its peers were under financial pressure as travelers shifted to ride-hailing services such as Uber Technologies Inc (UBER.N).

Boeing will cut 16,000 jobs after posting a massive loss

“The demand for commercial airline travel has fallen off a cliff,” said Boeing CEO Dave Calhoun. “The pandemic is also delivering a body blow to our business.”

The Pandemic Will Change American Retail Forever

Retail spending in March collapsed by the largest number on record. Travel spending—including on airlines, hotels, and cruises—is down more than 100 percent.

Barclays boss: Big offices ‘may be a thing of the past’

Having thousands of bank workers in big, expensive city offices “may be a thing of the past”, Barclays boss Jes Staley has said. His bank was re-evaluating how much office space it needed, as it was now being run by staff working “from their kitchens”.

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