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Harry Westhoff, 71, runs groceries back to his car in Teaneck, N.J., after Stop & Shop opened special morning hours for people 60-plus. Photo/John Minchillo/AP

Getting behind an idea from Andrew Ross Sorkin that excited CEOs, the U.S. Chamber of Commerce called on Congress to pass a "bridge loan" program to give federally guaranteed loans to companies with big losses from the pandemic.

How it works: The loans would include incentives for employers to maintain existing current workers at their existing pay.

  • Neil Bradley, the Chamber's executive vice president and chief policy officer, told me that the Chamber's full proposal was inspired by ideas by Sorkin, Kevin Warsh and Senate Small Business Committee Chairman Marco Rubio.

The state of play:

  • PepsiCo announced it'll provide enhanced benefits to all U.S.-based employees (including 100% pay during a 14-day quarantine) and additional compensation to U.S. frontline employees "who make, move and sell products."
  • Amazon announced it will hire 10,000 delivery and warehouse workers. The company also plans to raise pay by $2 an hour for delivery and warehouse employees through April, The Wall Street Journal reports.
  • Walmart said it plans to hire 150,000 U.S. hourly workers through the end of May, and many of the jobs will become permanent.
  • Target said it'll give a $2-an-hour wage increase to its 300,000-plus workers.
  • 7-Eleven will add 20,000 jobs.

Go deeper: Airport workers face layoffs across the U.S. as coronavirus spreads

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Go deeper

19 mins ago - Sports

China pulls Celtics games after Enes Kanter criticizes Xi Jinping

Celtics center Enes Kanter. Photo: Jim Michaud/MediaNews Group/Boston Herald via Getty Images

China will no longer stream Boston Celtics games after center Enes Kanter called Chinese President Xi Jinping a "brutal dictator" in a social media post over his government's repressive policies in Tibet, according to the New York Times.

Why it matters: Kanter's criticism of Beijing has sparked another round of trouble for the NBA in China, one of its largest and most restrictive markets.

Dan Primack, author of Pro Rata
1 hour ago - Politics & Policy

Trump's new venture could be peak SPAC

Illustration: Sarah Grillo/Axios

Former President Trump last night announced plans to launch a digital media network called "Truth Social," and said it would go public via a SPAC called Digital World Acquisition (Nasdaq: DWAC).

What to know: So far, this is a joke. The press release didn't contain even basic information, such as the new company's CEO. In fact, the only execs mentioned are Trump (as chairman) and veteran TV producer Scott St. John as head of a subscription streaming service.

Ben Geman, author of Generate
2 hours ago - Economy & Business

Tesla is outrunning the supply chain crunch

Expand chart
Data: FactSet and company release; Chart: Will Chase/Axios

Tesla, citing a "structural shift" in demand for electric vehicles, reported its highest-ever quarterly profit of $1.6 billion and $13.8 billion in revenues despite supply chain problems.

The big picture: The company's third-quarter report says the chip shortage, port congestion and other woes have affected its factories but argues that "flexibility" and "ingenuity" are a counterweight.