April 30, 2020
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.
The economy is likely to contract by 25% or more in the second quarter, with some forecasts putting the decline at a record 40%.
“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’s filing comes just a day after … Lyft’s rival Uber is discussing laying off 20% of its staff.
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).
“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.”
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.
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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