Jun 23, 2017

The US photo of a close encounter with a Russian fighter jet

Master Sgt Charles Larkin Snr / U.S. European Command via AP

The U.S. has released a photo of when a Russian fighter jet flew within five feet of a U.S. Air Force reconnaissance plane earlier this week over the Baltic Sea in an unsafe maneuver. The move came just after Russia announced it would begin targeting the U.S. west of the Euphrates in an escalation of tensions in the Syrian conflict.

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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.

DetailsArrowUpdated 1 min ago - Economy & Business

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.

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.