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The Fed releases minutes from the meeting where it took prices to zero because of the coronavirus

Federal Reserve decision makers at their March 15 meeting indicated that they not only considered it important to use all their interest rate power now, but also that they plan to keep interest rates grounded for the foreseeable future, according to minutes from Wednesday. The protocols reflected central banks concerned about the impact coronavirus had on the economy. “All participants …

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Sen. Loeffler will sell all individual shares

Georgia Senator Kelly Loeffler said on Wednesday that she and her husband Jeff Sprecher will liquidate their individual stock positions and related options after weeks of criticism of the pair for selling millions of dollars in stock amid the coronavirus pandemic. On Wednesday, Loeffler reiterated her defense of the previous sale of shares as legally and ethically correct, and her …

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JetBlue consolidation service in Boston; shutdown service in Providence

JetBlue announced Wednesday that it will temporarily consolidate operations in Boston and four other major metropolitan areas over eight weeks. The move aims to reduce the surplus of flights during a time of unprecedented demand for air travel while maintaining a critical level of service across the airline’s network for those who absolutely have to fly, the company said. Effective …

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Nordström warns that the financial situation may be of concern

A “temporarily closed” sign hangs in the window of the Nordstrom Inc. store in the Midtown neighborhood of New York, USA, Friday, March 20, 2020. Gabby Jones | Bloomberg | Getty Images Nordström said its financial situation could be troublesome if its stores stay dark for much longer because of COVID-19. The dealers’ assessment of this crisis is likely to …

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Uber and Lyft drivers face obstacles to stimulate car benefits

Shortly after the Senate approved a huge stimulus proposal in late March that made gig workers and other entrepreneurs eligible for unemployment benefits during the coronavirus pandemic, Uber’s CEO, Dara Khosrowshahi, rejoiced on Twitter. “Thank you to the Senate for supporting 1.3M @ Uber drivers & delivery people,” he said wrote. “Many independent workers are in the front line; everyone …

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The loan industry regularly pushes back, refusing to help service workers

Loan officials are slammed by requests from homeowners to delay their monthly loan payments as coronavirus forces millions of people without work. Still, one of the industry’s top regulators firmly denies these officials need any help. The best industry leaders are fighting back in an escalating war of words that can have a profound impact on the country’s housing market. …

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Pandemic deals blow against plastic bag ban, reduction of plastic

PORTLAND, Ore. (AP) – Just weeks ago, cities and even states across the United States were busy banning straws, restricting withdrawal containers, and deciding that shoppers bring in reusable bags or pay a small fee, as the one-time elimination plastic movement took hold America. What a difference a pandemic makes. In a few days, harsh profit bans to reduce the …

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Allstate and American Family repay $ 800 million in auto insurance premiums

Two major auto insurance companies said they will return roughly $ 800 million in premiums to customers because on-site protection advice around the country has led to fewer drivers on the road. A third insurer said it credits customers’ accounts if they have car or motorcycle insurance. Allstate, which is giving back $ 600 million, said its customers will receive …

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GM builds 30,000 fans in the US for $ 489.4 million

General Motors employees report to their first working day Tuesday, March 31, 2020, at a GM manufacturing facility in Kokomo, Indiana, where GM and Ventec Life Systems work together to produce Ventec VOCSN critical care ventilators in response to the COVID-19 pandemic. GM General Motors will build $ 309.4 million in national storage for $ 489.4 million in national storage …

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