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Larry Summers says the US relief package would be hard to execute by the most competent government, calling the US government one ‘run like a hi...

The former US Treasury secretary and World Bank economist Larry Summers predicts who will be hurt and how much and suggests how to quickly recover.
People gather at the entrance for the New York State Department of Labor offices on March 20, which closed to the public due to the coronavirus outbreak in the Brooklyn borough of New York City.

The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the major companies that have announced they are downsizing ...

Over 10 million Americans filed for unemployment in March. Macy's, Marriott, buzzy startups, and more contributed to that record-breaking number.

Small business optimism falls by the most ever in March, ending a record run as coronavirus worry sets in

"Many owners have had to close their doors and others are scaling back operations dramatically," said NFIB chief economist William Dunkelberg.

UBS: Nearly $1 trillion in mortgage debt could be delinquent this year as a ‘prolonged credit crunch’ looms

The bank's consumer credit health gauge hit its worst reading since 2009 in the first quarter due to rising unemployment and worsening sentiment.
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease at an Arkansas Workforce Center in Fayetteville, Arkansas on April 6.

The United Nations just said that coronavirus could wipe out the equivalent of 195 million jobs worldwide

That's a 7% drop in global working hours this quarter, a UN labor agency says, with 30 million jobs lost in the first quarter of 2020 alone.
Steve Schwarzman, billionaire founder and Blackstone CEO, expects the coronavirus pandemic to cause a $5 trillion wipeout of US GDP.

Billionaire Blackstone boss Steve Schwarzman expects coronavirus to wipe out $5 trillion of US GDP

The private equity chief said the pandemic is "putting stress on everything."
A worker sanitizes the Piazza dei Miracoli near to the Tower of Pisa in Pisa, Italy, on March 17 2020.

Here are the lessons the West should learn from China’s COVID-19 exit strategy to avoid disaster

China and other Asian countries' success in dealing with COVID-19 can offer lessons to the West, JPMorgan said in a note on Tuesday.
Japan is set to announce a $1 trillion stimulus and declare a state of emergency.

Japan declares state of emergency, plans $1 trillion stimulus to combat coronavirus downturn

The world's third-largest economy will deploy the funds to provide security and protect jobs for its people.

Boris Johnson tested positive for COVID-19 and is being treated in the ICU. Experts explain the possible fallout of other world leaders catching the c...

Experts weigh in on the social, political, and economic effects of a world leader contracting COVID-19.

The Fed will start buying debt backed by emergency small-business loans — giving banks more leeway to offer critical aid

The Fed's new program will allow banks to sell their small business debt and shore up cash for additional relief lending.