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Special Edition: Business During the Coronavirus Pandemic |
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By the Logistics Report & WSJ Pro Staff |
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Good evening. Sates across the U.S. are grappling with how much to ease back on restrictions even as coronavirus infection rates continue to climb, although at a lower rate. Still, expectations for corporate earnings and economic growth have been upended, and some investors say it is as if they are flying blind. Here’s where things stand: Lawmakers, when they return to Capitol Hill, aim to fix shortcomings of the $670 billion federal program to aid small businesses. Lobbyists for business groups, nonprofits and labor unions are pushing for what could be a final round of stimulus funds. Roche’s antibody test, which it says has proven 100% accurate at detecting Covid-19 antibodies in the blood, is cleared by the FDA for emergency use. Major U.S. indexes fell for the second consecutive week. The Dow Jones Industrial Average shed 622.03 points, or 2.6% to 23723.69 Friday. As businesses reopen, here’s some guidance from public-health experts on how to reduce risk while venturing out. As of late Sunday afternoon, confirmed cases world-wide exceeded 3.48 million, while the death toll surpassed 246,000. Cases in the U.S. exceeded 1.15 million; more than 67,000 have died. |
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“You can bet on America, but you are going to have to be careful on how you bet. Simply because markets can do anything.”
| —Warren Buffet at Berkshire Hathaway’s annual meeting (via livestream) Saturday |
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$20 Billion | The amount Apollo Global Management plans to raise to capitalize on demand for loans during the coronavirus pandemic. |
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The SEC charged Praxsyn Corp. and its chief executive with making false and misleading statements about its ability to acquire and supply large quantities of N95 or similar masks. An anticorruption unit of the Organization for Economic Cooperation and Development has warned countries to be on guard against potential bribery, particularly in health care. (Risk & Compliance Journal) |
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| Bots at a fulfillment center operated by U.K. online grocer Ocado. PHOTO: PETER NICHOLLS/REUTERS |
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| PHOTO: FRANCOIS MORI/ASSOCIATED PRESS |
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Millions of substandard masks are entering the U.S. supply chain, meaning that hospital workers may be even more exposed than they think. Global companies are looking to Chinese consumers to jump-start business, but the pandemic has reshaped their habits—for now. April’s jobs report, to be released Friday, is expected to indicate that the pandemic inflicted the largest one-month blow to the U.S. labor market on record. Some distinguished people offer their wisdom and perspective to college graduates at the time of Covid-19. |
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