Is China’s debt burden too much to bear? Getty Images BEIJING — Demand for consumer loans is picking up in China, especially among the less affluent, highlighting a group that some say could use more support during the coronavirus-induced economic downturn. The disease, officially called Covid-19, emerged late last year in the Chinese city of Wuhan.
Nearly every aspect of living and working has been upended by the coronavirus pandemic. Running essential errands, checking on friends and family, caring for kids while school is shut down and staying healthy have all become harder. On top of all that, workers are simultaneously worried about job security and may be logging longer, more distracted hours in
U.S. households that already were less prepared to weather a financial storm are getting hit hardest from the recent rash of job losses across the country, research shows. Adults with lower income (under about $37,500 annually) and middle income ($37,500 to $112,600) comprise a greater share of those who have lost their job or taken
Jamie Black-Lewis received loans from the Paycheck Protection Program for her two spas, Oasis Medspa & Salon and Amai Day Spa, in Washington state. Many of her 35 employees think they will make more money collecting unemployment benefits than from their regular paychecks. Jamie Black-Lewis Jamie Black-Lewis felt like she won the lottery after getting
Businesses will have to show they have adequate safety measures in place when they reopen during the coronavirus pandemic, according to the CEO of a nonprofit that helps companies plan for and recover from disasters. “Customers are going to be demanding not just assumptions of safety but visible steps and measures that companies are taking
Planes belonging to Delta Air Lines sit idle at Kansas City International Airport on April 03, 2020 in Kansas City, Missouri. Jamie Squire | Getty Images Delta Air Lines‘ on Wednesday posted a pretax loss of $607 million for the first quarter and issued a bleak forecast for this spring as the coronavirus saps travel demand.
Economic forecaster Lakshman Achuthan warns the coronavirus pandemic is hitting the U.S. economy harder than the financial crisis. “This is a brutal recession,” he told CNBC’s “Trading Nation” on Wednesday. “This recession is extraordinarily deep. Already, you’ve got 22 million people filing for jobless claims compared to 8.7 million jobs lost during the Great Recession.”
From logistical issues, like finding someone to do your grocery shopping, to emotional ones, such as coping with anxiety and depression in isolation, the Covid-19 pandemic has brought to the forefront an experience that can be strangely uncomfortable for many: asking for help. This is not always an easy task, even outside of a pandemic,
The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. Angus Mordant | Reuters Stay-at-home orders aren’t only hitting mom-and-pop businesses. They’re also a driver behind the cratering price of oil. For example, the cost of a futures contract for
Temporary closed signage is seen at a store in Manhattan borough following the outbreak of coronavirus disease (COVID-19), in New York City, U.S., March 15, 2020. Jeenah Moon | Reuters Over half of chief executives around the world believe coronavirus is a significant threat to their business, but worse, 11% fear their business won’t survive