Booze buying surges; senators push airlines for cash refunds
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Tuesday related to the global economy, the work place and the spread of the virus.
First N95 medical mask imports finally reaching US
The first N95 medical masks to reach the U.S. since February are arriving by plane and ship this week, with trucks standing ready to speed them to coronavirus hot spots around the country.
Businesses may get COVID-19 relief loans as soon as Friday
NEW YORK (AP) — Small businesses seeking loans through the government's $2 trillion coronavirus relief package could receive money as soon as Friday.
Early divisions as Congress weighs next help for economy
WASHINGTON (AP) — The bipartisan partnership that propelled a $2.2 trillion economic rescue package through Congress just days ago is already showing signs of strain, raising questions about how quickly calls for massive followup legislation may bear fruit.
Those without broadband struggle in a stuck-at-home nation
NEW YORK (AP) — In Sandwich, New Hampshire, a town of 1,200 best known as the setting for the movie “On Golden Pond," broadband is scarce.
Stocks fall, capping Wall Street's worst quarter since 2008
NEW YORK (AP) — Stocks fell Tuesday to close out Wall Street’s worst quarter since the most harrowing days of the 2008 financial crisis.
Trump rollback of mileage standards guts climate change push
WASHINGTON (AP) — The Trump administration's rollback of mileage standards Tuesday marks a win for Americans who like their SUVs and pickup trucks, but the government's own estimates show big costs, too — more Americans dying from air pollution, more climate-damaging tailpipe exhaust and more expense for drivers at the gas pumps.
Amazon fires warehouse worker who staged walkout
NEW YORK (AP) — Amazon fired a worker who organized a walkout at a New York warehouse to demand greater protection against the new coronavirus, saying the employee himself flouted distancing rules and put others at risk.
Disputed Canada-US oil pipeline work to start in April
BILLINGS, Mont. (AP) — A Canadian company said Tuesday it plans to start construction of the disputed Keystone XL oil sands pipeline through the U.S.
A guide to surviving financially as the bills come due
The coronavirus has dealt a financial blow to millions of Americans and now April's bills are coming due. The good news is there is help available.
What you need to do to get your government stimulus check
The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks. The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus outbreak.
Treasury wants airlines to say how they will pay back loans
DALLAS (AP) — The Treasury Department wants airlines to say how they will compensate the government for $25 billion in grants used to keep employees on the payroll during the coronavirus outbreak.
US consumer confidence sinks as virus begins having impact
WASHINGTON (AP) — U.S. consumer confidence tumbled this month to its lowest level in nearly three years as the impact of the coronavirus on the economy began to be felt.
Urgent question from small businesses: When will aid arrive?
NEW YORK (AP) — When will the money arrive? That's the urgent question for small business owners who have been devastated by the coronavirus outbreak.
Virus slump expected to rival big recessions in history
LONDON (AP) — The coronavirus-related recessions around the world are going to be bad — and for some of the world's major industrial nations the worst that anyone alive has experienced, according to analysts at Deutsche Bank.
Fed steps in once again to try to smooth out lending markets
WASHINGTON (AP) — The Federal Reserve is intervening once again to try to smooth out the world's lending markets, this time by lending dollars to other central banks in exchange for Treasurys.
Could do better: Japan gently chided by UN climate chief
BERLIN (AP) — The top U.N. climate official on Tuesday chided Japan over its new plan to reduce greenhouse gas emissions, which environmental campaigners say shows no real ambition to increase existing efforts.
US home prices rose at 3.1% annually in January
BALTIMORE (AP) — U.S. home price growth was showing signs of acceleration in January, a sign of the solid demand that existed before the coronavirus outbreak caused millions of job losses and tossed the U.S.
EU launches new naval mission to police Libya arms embargo
BRUSSELS (AP) — The European Union announced Tuesday the launch of a new naval mission in the Mediterranean Sea aimed at enforcing the U.N.
New online store offers help to shuttered indie booksellers
Andy Hunter, founder of a new online sales outlet for independent booksellers, had seen a crisis building well before the coronavirus pandemic shut down many of the country's stores.
Inflation in Europe sags amid outbreak, oil price decline
FRANKFURT, Germany (AP) — Inflation in the 19 countries that use the euro currency sagged to 0.7% in March from 1.2% February as the virus outbreak and an oil price war between Saudi Arabia and Russia rippled through the economy.
Ukraine approves legislation in a bid for IMF aid
KYIV, Ukraine (AP) — Ukraine's parliament has voted to lift the ban on the sale of farmland in a move that would allow the country to get $8 billion worth of aid from the International Monetary Fund.
China's manufacturing rebounds as virus controls ease
BEIJING (AP) — China’s manufacturing rebounded in March as authorities relaxed anti-disease controls and allowed factories to reopen, an official survey showed Tuesday, but an industry group warned the economy has yet to fully recover.
Asian stocks rise after Wall Street health-care-led rally
TOKYO (AP) — Asian shares surged Tuesday after a rally in U.S. stocks, mostly spurred by health care companies' announcements of developments that could aid in the coronavirus outbreak.