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Here are the right steps to taking a 401(k) loan during the coronavirus outbreak

The CARES Act allows you to take a 401(k) loan of up to $100,000 — but should you?

4 years ago

U.S. weekly jobless claims blow past six million as coronavirus lockdowns spread

The number of Americans filing claims for unemployment benefits shot to a record high of more than 6 million last week as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession.



4 years ago

Uber said it would compensate drivers who test positive for COVID-19. This driver was still denied

Uber has promised to compensate drivers who fall ill with the coronavirus. Even with a letter from his doctor, he was rejected.

4 years ago

Boeing to offer voluntary layoffs to employees to tide over coronavirus fallout

Boeing Co Chief Executive Officer Dave Calhoun outlined a plan of voluntary layoffs for employees on Thursday, while warning that the coronavirus pandemic would have a lasting impact on the global aerospace industry.



4 years ago

How Governments Should Use Crowdfunding to Battle the Economic Impact of #Socialdistancing

Crowdfund Insider | Karsten Wenzlaff and Ronald Kleverlaan | March 31, 2020 The Crowdfunding industry is well aware of what economists call externalities – the fact that behavior of some people has an unintended impact on other people. Positive externalities can be observed on the Crowdfunding platforms every day due to the willingness of people

4 years ago

Thousands of U.S. banks may sit out small-business rescue plan on liability worries: sources

Thousands of U.S. banks, including some of the country's largest lenders, have said they may not participate in the federal government's small-business rescue program due to concerns about taking on too much legal and financial risk, five people with direct knowledge of industry discussions told Reuters.



4 years ago

Wall St. gains as oil recovery eclipses record weekly jobless claims

Wall Street bounced on Thursday as a recovery in oil prices outweighed the shock of weekly jobless claims soaring past 6 million.



4 years ago

Virus forces Luxottica to break Italian August holiday tradition

Eyewear maker Luxottica said it would cut to just one week its customary August closure, a move which other firms may seek to replicate to relaunch production after the forced shutdown in the current coronavirus crisis.



4 years ago

Bank of America cuts Brazil 2020 GDP forecast to -3.5% from -0.5%: report

Bank of America on Thursday cut its 2020 forecast for Brazil's gross domestic product (GDP) to a 3.5% contraction from a 0.5% fall, it said in a report, citing the strong impact on consumption and investment stemming amid the coronavirus pandemic.



4 years ago

Luckin Coffee shares sink after COO accused of financial misconduct

Shares of Luckin Coffee Inc sank more than 80% on Thursday after the Chinese coffee chain said an internal investigation had shown that its chief operating officer and other employees fabricated sales transactions.



4 years ago

Uber to start shipping car disinfectants to drivers

Uber Technologies Inc will begin shipping disinfecting car spray to selected drivers in areas most affected by the coronavirus outbreak, an executive said on Thursday.



4 years ago

Stocks climb as investors digest grim U.S. jobs data

World equity markets climbed on Thursday on the back of a surge in risky assets like oil, offsetting concerns over an increasing death toll from the coronavirus pandemic that is expected to push the global economy into a recession.



4 years ago

Dress to impress at home: Retailers recast spring looks for coronavirus lockdowns

Desperate to sell pricey spring looks during the coronavirus lockdown, retailers are turning to social media to show their latest styles in somber, stay-at-home settings.



4 years ago

Bank of England doubles size of corporate bond purchase program

The Bank of England said on Thursday it will double the size of its corporate bond purchase program to at least 20 billion pounds ($24.7 billion), part of a previously announced stimulus package to help the economy during the coronavirus crisis.



4 years ago

Coronavirus sick leave: Who can't count on getting paid

Workers at many small businesses (those with under 500 employees) will soon see paid sick leave, as well as extended family leave, for certain coronavirus-related reasons. Others may not. Here's the skinny.

4 years ago