Day: May 1, 2020

Lockdowns Ease Across Asia as U.S. States Roll Back Restrictions

As some U.S. states commenced to reopen, areas of Asia the place the coronavirus pandemic has waned moved closer to normalcy as they entered a vacation weekend, however governments warned men and women to stay vigilant due to the fact of the danger of a resurgence.

Globally, coronavirus situations totaled more than 3.2 million and the death toll exceeded 233,000, according to facts from Johns Hopkins University. In the U.S., whole infections climbed to one,070,026, with more than 63,000 dead, according to Johns Hopkins.

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Fed Expands Main Street Lending Program

The. U.S. Federal Reserve said it is growing the scope of its Major Avenue lending software to allow far more applications and extend the types of loans obtainable.

Under the new guidelines, companies with as several as 15,000 workers and profits of up to $5 billion will be capable to utilize. The prior limit, when the software was announced April nine, limited applications to enterprise with 10,000 workers and $two.5 billion in profits.

The Fed also advised it would present guidance for nonprofits.

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The adjustments appear amid information the U.S. economic system contracted 4.eight% in the initially quarter as the international economic system reeled from the consequences of the coronavirus pandemic.

Under the new software, loans are divided into a few categories: new, priority, and expanded, with the measurements of the loans determined as a multiple of 2019 modified

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