Money


Preparing to reopen, Ontario releases workplace safety guidelines Preparing to reopen, Ontario releases workplace safety guidelines
- May 01, 2020

Mr. McNaughton said Thursday the province has added 58 new labour inspectors to communicate safety guidelines and enforce safety measures. "I'm giving you hope". Today they are offering guidelines to businesses on how they can re-open safely. There are a total of 419 cases, with 220 among staff. Retirement homes have also seen 77 resident deaths. (more...)
COVID-19 to Cause Record Emissions Fall in 2020, Says IEA COVID-19 to Cause Record Emissions Fall in 2020, Says IEA
- April 30, 2020

One of the headline findings of the report is that global emissions are projected to fall by 8%. Global emissions have also fallen almost 8 per cent following the grounding of aircraft and slowdown in private and public transport. The pandemic has already had a profound impact on the global economy. In its new Global Energy Review 2020 report, released today, the IEA describes how economic turmoil, travel restrictions and lockdowns have affected the energy sector during the first ... (more...)
Official Florida jobless claims rise by 326,000-most of any state Official Florida jobless claims rise by 326,000-most of any state
- April 30, 2020

Florida's sharp increase is likely due to improvements in the state's disfunctional unemployment system. The layoffs that have taken place during the COVID-19 pandemic amount to almost one out of every six workers in the country, totalling to more than the population of Texas or Chicago. (more...)
Another 7400 Mainers File For Unemployment Benefits, As Claims Mount Another 7400 Mainers File For Unemployment Benefits, As Claims Mount
- April 30, 2020

Jobless claims for the week ended April 25 came in at the lowest level since March 21 but bring the rolling six-week total to 30.3 million, roughly 18.4% of the working age population, as part of the worst employment crisis in US history. The 3.8 million claims is down 603,000 from the week prior, when 4.42 million Americans filed for unemployment benefits . The continuing claims data covered the period during which the government surveyed households for April's unemployment rate. (more...)
Wage subsidy program for businesses opening for applications Monday Wage subsidy program for businesses opening for applications Monday
- April 30, 2020

This important economic measure provides a subsidy of 75% of an eligible employee's weekly earnings, to a maximum of $847 per employee per week, to eligible employers, for up to 12 weeks. Conversations about reopening the economy have begun in various regions, but only 32 per cent of businesses surveyed said they could remain open longer than six months amid social distancing protocols, while an additional 50 per cent said they would not be able to remain open for longer than six months, ... (more...)
Coronavirus savages USA economy in first quarter; worse still to come Coronavirus savages USA economy in first quarter; worse still to come
- April 30, 2020

Touching on the stay-at-home orders issued by states across the country, the department said, "This led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending". (more...)
Feds to provide rent relief for small businesses Feds to provide rent relief for small businesses
- April 30, 2020

Trudeau said Canadian authorities have been studying the cases in countries like South Korea, Japan and Singapore for their approaches to reopening - or, in some cases, to not locking down in the first place - since the beginning of the crisis. (more...)
Saudi Arabian government purchases $450m in Live Nation stocks Saudi Arabian government purchases $450m in Live Nation stocks
- April 30, 2020

Shares of Live Nation , which had recently fallen almost 50 percent from all-time highs they reached in February before the coronavirus hit, were recently up up 11 percent at $42.45 on Monday. The company is now implementing hiring freezes and furloughs, and has implemented 50% pay cuts for top executives, with its CEO Michael Rapino nixing his full salary. (more...)
United States jobless claims still elevated as more seek benefits
- April 30, 2020

The US Department of Labor's latest seasonally adjusted total of initial jobless claims remained at a level that was unthinkable less than two months ago even as it fell from 4.4 million in the week ending April 18. Continuing claims, or the total number of Americans receiving unemployment benefits, rose by 2.17 million to a record 18 million in the week ended April 18. (more...)
Trump treats meatpacking workers as disposable Trump treats meatpacking workers as disposable
- April 30, 2020

However, outbreaks of COVID-19 among workers at some processing facilities have led to the reduction in some of those facilities' production capacity", the president wrote in the order. But it's breaking because our food system has been transformed to disproportionately benefit massive multination corporations like Tyson, Cargill and JBS at the expense of farmers, workers and - as we're now seeing in the form of empty grocery store shelves and steadily rising food prices - consumers. (more...)
Coronavirus shutdown sees Lebanese cities hit by protests over financial woes Coronavirus shutdown sees Lebanese cities hit by protests over financial woes
- April 30, 2020

A man has died following overnight clashes between protesters and soldiers in the Lebanese city of Tripoli. In a phone call to Mr Diab, French Foreign Minister Jean-Yves Le Drian said Paris was ready to convene an global support group meeting for Lebanon as soon as coronavirus lockdown measures were lifted. (more...)
China's April factory activity expands for 2nd month, just below f'cast China's April factory activity expands for 2nd month, just below f'cast
- April 30, 2020

Some have let workers go as part of the cost-cutting efforts. Zhao Qinghe, senior statistician at NBS, warned demand was recovering at a slower pace than production, in industries including textiles and chemical raw materials. "Labour market strains will hold back the recovery in services and weak foreign demand will continue to weigh on manufacturing activity for some time", he said. (more...)
Alphabet reports better-than-expected first quarter revenue amid slowing ad business
- April 30, 2020

As for what happens next quarter, Google's CFO Ruth Porat said it was going to be a hard quarter for the advertising business, which remains the company's biggest revenue driver by a big margin. Google is not out of the woods, though. Analysts had expected Alphabet to generate US$40.17 billion in revenue . Alphabet has diversified into cloud services and gadgets, but advertising still accounts for the vast majority of revenue . (more...)
Oil up as USA crude stocks due to fall short of estimate Oil up as USA crude stocks due to fall short of estimate
- April 30, 2020

The US Energy Information Administration (EIA) reported that US crude inventories rose 9 million barrels to 527.6 million barrels for the week ended April 24. That would add to production cuts of nearly 10 million bpd agreed by the Organization of the Petroleum Exporting Countries (OPEC) and other large producers including Russian Federation, or about 10% of global production, due to take effect from May 1. (more...)
Oil bounces back with output cuts looming, storage filling Oil bounces back with output cuts looming, storage filling
- April 30, 2020

Crude prices crashed earlier this month, with global fuel tanking roughly 30% due to efforts to slow the spread of the virus. On the supply side, United States output will fall by 2 million barrels a day in May compared with March and the price of crude has likely bottomed out, according to the head of trading house Mercuria Energy Group Ltd. (more...)
IRS Makes Enhancements to Stimulus Payment Web Tool IRS Makes Enhancements to Stimulus Payment Web Tool
- April 30, 2020

Saul says there is no fee required to receive these payments. The IRS distributed 88.1 million checks and they were distributed on April 17 and paid out $157.96 billion, according to statistics released April 24. Those funds were either returned to the IRS, or are in the hands of tax preparers. The IRS said it has "enhanced" its "Get My Payment" website , after some Americans complained about entering and acquiring information involving government stimulus checks . (more...)
Remdesivir: Drug has 'clear cut' power to fight coronavirus Remdesivir: Drug has 'clear cut' power to fight coronavirus
- April 30, 2020

Gilead , a California-based company, said its own trial found patients treated within 10 days of developing signs of the disease had better outcomes than those treated after 10 days of symptoms. "It's active against every coronavirus that we've ever tested", he said. Remdesivir also prevented the virus from infecting human cells in a petri dish, according to a letter published in the journal Nature in February. (more...)
Oops: Treasury asks public companies to return coronavirus loans Oops: Treasury asks public companies to return coronavirus loans
- April 30, 2020

The legislation includes over $320 billion in funding for the Small Business Administration's (SBA) Payment Protection Program (PPP) to cover eight weeks of employee expenses for businesses. "To the extent, these companies didn't understand this and they repay loans, that will be OK, and if not, there will be potentially other consequences". (more...)
"Literally A Pipe Organ For China": Trump's Latest On WHO
- April 30, 2020

Last week, U.S. Secretary of State Mike Pompeo said the United States "strongly believed" Beijing failed to report the outbreak in a timely manner and covered up how risky the respiratory illness caused by the virus was. The coronavirus outbreak has killed more than 210,000 people around the world, including more than 56,000 in the United States, according to a Reuters tally. (more...)
Man Named Tupac Shakur Files For Unemployment In Kentucky Man Named Tupac Shakur Files For Unemployment In Kentucky
- April 30, 2020

That one person thinking that they were amusing, using somebody else's identity is gonna make tens of thousands, potentially of other people wait. According to New York Post , on Monday, Beshear, while referring to few "bad apples", including an unidentified person who filed an unemployment claim under the name of rapper Tupac Shakur , as the reason behind the slow processing of the state's unemployment benefits, said: "We had somebody apply for unemployment for Tupac Shakur here in ... (more...)

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