Sep 20, 2017

Bill Clinton on the biggest question of the future

Former President Bill Clinton at the Bloomberg Global Business Forum Wednesday:

"I want you to look to the future, but I believe underneath all these debates that are going on today lingers one simple question. We all know we live in an interdependent world... it's been good to us and a lot of people we know. ... It's not whether we are able to roll back the biggest threats of climate change, or able to help education and humanity, its the way we are able to think about these things. ... The most important thing is whether you believe social strength, economic reform and political reform flow from division or multiplication..."

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Courtenay Brown

Fed will lend up to $2.3 trillion amid coronavirus crisis

Fed Chairman Jerome Powell at a press conference in March. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve announced Thursday that it will support with the coronavirus-hit economy with up to $2.3 trillion in loans to businesses, state and city governments — made possible by Treasury funds set aside in the government stimulus package.

Why it matters: The Fed has taken more action amid the coronavirus outbreak than it has in any other financial crisis in U.S. history in an effort to blunt the effects of the resultant economic shutdown.

DetailsUpdated 3 mins ago - Economy & Business

Courtenay Brown

Another 6.6 million jobless claims filed last week amid coronavirus crisis

Data: U.S. Bureau of Labor Statistics via FRED; Chart: Andrew Witherspoon/Axios

Another 6.6 million Americans filed for unemployment last week, the Labor Department announced Thursday.

Why it matters: It adds to the staggering 10 million jobless claims in recent weeks — by far the sharpest spikes in American history — as the world economy has ground to a halt in an effort to contain the coronavirus outbreak.

Go deeper1 hour ago - Economy & Business

Ina Fried

Yelp cutting 1,000 jobs, furloughing others

An image from a Yelp donation program launched in the wake of Covid-19. Photo: Yelp

Yelp told employees Thursday that it is cutting 1,000 jobs and furloughing another 1,100 workers amid a massive drop in its business.

Why it matters: Yelp is the latest company catering to small businesses that has seen much of its customer base decimated amid the COVID-19 outbreak and related shutdowns.

Go deeper1 hour ago - Technology