Tag: Coronavirus

Combating the Coronavirus | U.S. Chamber of Commerce

Our nation and our economy are facing an unprecedented crisis. The U.S. Chamber of Commerce is marshaling all its resources to help companies stay afloat and keep paychecks flowing to American workers and families; mobilize the business community to combat the pandemic; and help companies prepare for a safe, successful, and sustainable reopening of the economy.

No family and no business should go bankrupt as a result of the coronavirus.
 

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Resources & Guidance | Policy & Advocacy | Business Community Response
Economic Impact | The Path Forward

 

 

RESOURCES, GUIDES & WEBINARS

Help for Small Businesses

For a full list of resources, webinars, research and advocacy for small businesses, and to find out how you can help small businesses in your community, visit the Save Small Business Initiative.
Todas las guías para pequeñas empresas están también disponibles en español. Presiones en cualquier enlace a continuación para acceder a la

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Zimbabwe facing ‘catastrophe’, economy could shrink by 20% without coronavirus aid – finance minister

Zimbabwe’s finance minister, Mthuli Ncube, has issued an
impassioned plea to international finance institutions, laying bare the country’s
battered economy and saying it faces “catastrophe” if it does not
access critical bailout funding to fight the combined impact of crippling
drought and the coronavirus pandemic.

In a leaked letter, the authenticity of which has been
confirmed by a senior government official, Ncube wrote to the International
Monetary Fund, the World Bank and other international institutions, saying the
country faced record poverty levels.

Ncube said without a transformative arrears clearance and
re-engagement plan, Zimbabwe could “suffer a health and economic
catastrophe” and the economy could contract by as much as 20%.

“This is a massive contraction with very serious social
consequences,” that could “raise poverty to levels not seen in recent
times,” reads part of the letter.

Zimbabwe, which cleared its debts with the IMF, still owes
other international lenders more

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Business & Workers | Washington State Coronavirus Response

Questions about returning to work?

There is important information to know about unemployment as our economy beings to re-open. The state Employment Security Department has developed frequently asked questions about returning to work for employers and workers.

Safe Start plans and guidance for reopening

Visit our Safe Start page for more information about the governor’s phased reopening plan. That page also includes industry-specific guidance for safe reopening.

Business Response Center

Business owners and operators who have questions about financial assistance, return to work and other general inquiries can use our General Business and Return to Work Inquiry form to ask our Business Response Center team for answers. First, visit the frequently asked questions for businesses page to see if your question or concern is already addressed. If you’re unable to find an answer, please submit your question through our form.

How to file for unemployment benefits

Economic Recovery and Resiliency

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Businesses and employers – Coronavirus COVID-19 Response

The U.S. SBA offers the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan and Advance (EIDL and EIDL Advance).

More about Paycheck Protection Program (PPP):

The SBA has resumed accepting PPP loan applications from approved lenders. The PPP is a loan program for small businesses, self-employed, independent contractors, nonprofits with a maximum of 500 employees, and it is intended to keep workers paid and employed. The loan amount is calculated based on payroll expenses with a maximum amount of $10 million at a rate of 1% for up to 2 years. The loan is forgivable if 75% of the loan amount is used for payroll, and no employees are laid off, or if laid-off employees are rehired before June 30, 2020. In addition to payroll costs, allowable expenses include mortgage interest, rent, and utilities. Submit your application as soon as possible, even if you need to rehire

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Dispatches From the Gender Gap: Work-From-Home Moms in the Time of Coronavirus

“Mommy…are you gonna go to yoga?” It was when her 11-year-old son asked her when she planned on leaving the house again, “after five treacherous days of sheltering in place with a husband and three kids,” that Roxana Orbegoso, a physician in Scottsdale, Arizona, knew the reality of the global pandemic had sunk in with her children. “‘Because, Mommy, you need to go to yoga,’ he says. And I was like, you think?”

While staying home to combat the spread of COVID-19 is something of a privilege, when so many Americans still have to go out to work, for many mothers now working from home, this has meant an increase in their responsibilities unequal to that of their husbands. In ordinary times, most working mothers who are married to men spend almost twice as much time on childcare and household chores; and the exigencies of the current crisis have not

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Harvard to Pay Back Coronavirus Stimulus Money, Trump Says

Harvard University plans to repay the federal government money it received as part of a stimulus package to help small businesses struggling with coronavirus lockdowns, U.S. President Donald Trump said on Tuesday, after the funding for the university drew fire.

Speaking at a daily briefing at the White House, Trump also said 20 states were moving ahead quickly to reopen following the lockdown. 

On the subject of the loans, Harvard reportedly nettled nearly $9 million in aid through the Paycheck Protection Program.

“Harvard’s going to pay back the money, they shouldn’t be taking it,” Trump said. “They have one of the largest endowments anywhere in the country, maybe the world I guess, and they’re going to pay back that money.”

He added that some large companies, unnamed in his briefing, would also pay back funds obtained through the pandemic loan program. Harvard has an endowment worth more than $40 billion,

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S&P affirms UK credit rating, cites govt’s coronavirus response | Money

S&P kept the rating at ‘AA', one down from a top-notch score, with a stable outlook. — Reuters pic
S&P kept the rating at ‘AA’, one down from a top-notch score, with a stable outlook. — Reuters pic

LONDON, April 25 ― Ratings agency Standard & Poor’s left Britain’s credit rating unchanged yesterday, citing a swift response from authorities in limiting the economic impact of the coronavirus outbreak.

S&P kept the rating at “AA”, one down from a top-notch score, with a stable outlook. Britain had lost its “AAA” rating shortly after the 2016 Brexit vote.

S&P’s decision contrasted with last month’s downgrade by rival Fitch, which cited an expected surge in debt as the government ramps up spending to offset the near shutdown of the economy. “With their swift and coordinated response to limit the economic impact of Covid-19, the UK government and the (Bank of England) have demonstrated sizable fiscal and monetary flexibility,” S&P said in a statement.

While acknowledging that Britain’s fiscal deficit was likely to

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Coronavirus: Amazon, Microsoft each donate $1 million to response

  • Amazon and Microsoft are each donating $1 million to a fund for Seattle-area rapid response to the coronavirus outbreak.
  • The COVID-19 Response Fund will dole out one-time grants to local nonprofits working with “disproportionately affected communities” that will be the most economically impacted by the coronavirus outbreak.
  • Both Amazon and Microsoft are based in Washington, where 19 people have died and nearly 150 have tested positive for coronavirus.
  • Visit Business Insider’s homepage for more stories.

Microsoft and Amazon, two major Seattle-based tech companies, are giving $1 million each to a fund designed to mitigate the economic loss felt in the local area in light of the coronavirus outbreak.

The COVID-19 Response Fund launched Monday with more than $2.5 million in donations, which will go to one-time grants doled out to local community organizations. The response fund is not designed to fund medical response and health measures: Instead, funds are intended

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How to Save Money During the Coronavirus Crisis





Worried about what the fallout of the coronavirus crisis could mean for your money? Here are 10 steps you could take right now to help shore up your finances.





how to save money
Source: Jacob Lund (Shutterstock)





1. Ask yourself if you could be doing better with your home loan





If you’re trying to cut back on some expenses, one possibility is to look closely at your home loan and how much you’re being charged. Interest rates are at historically low levels, so now could be a good time to compare and find a better deal. Analysis of Canstar’s database of over 4,000 products, shows that there is a 4.13 percentage point difference in the lowest advertised standard variable interest rate and the highest.  For an owner-occupier borrower paying back principal and interest on a $400,000 loan at 80% LVR over 25 years, refinancing to that lowest rate could:





  • save them up to $990
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About the decisions taken by European bank regulators and supervisors in the face of the coronavirus crisis

Bank regulators and supervisors have taken a number of important measures over the past two weeks in reaction to the coronavirus crisis. In our view, those measures make a lot of sense in the current fire-fighting context. We consider that the two priorities of bank regulators and supervisors should be 1) to ensure that credit is extended to enterprises during these extremely challenging times, and 2) to preserve financial stability.  This is precisely what they are doing: the measures taken have to be analysed together and, seen through that lens, they show a high level of coherence.

Among those measures, the most noteworthy are:

  • Excluding from non-performing loans credit extended by banks to support enterprises facing liquidity difficulties and benefiting from state guarantees.
    • Comment: this is the best way to resolve the impossibility that banks would have otherwise to support the economy without endangering
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