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Markets dragged down by abysmal retail sales and factory output

U.S. major stock indexes fell in Wednesday trading as new data from the Commerce Department and Federal Reserve indicated a collapse in manufacturing output and retail sales. However, the declines did not completely erase yesterday’s gains in another sign that U.S. investors and corporations may be better positioned to withstand the economic shocks caused by the COVID-19 epidemic than most of the employees of the same businesses. The...

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As national COVID-19 cases top 1,000, insurers waive treatment fees and US preps stimulus

The number of COVID-19 cases in the U.S. crossed 1,000 on Tuesday as President Donald Trump met with the nation’s largest insurers and members of his cabinet to discuss how to pay for treatment and lessen the financial blow of the disease’s spread. With the nation’s healthcare apparatus beginning to get a better understanding of the proliferation of the virus that causes COVID-19 within its borders, efforts have shifted fully...

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Big tech commits to paying wages for hourly employees affected by coronavirus plans

Following Microsoft’s lead from late last night, some the biggest technology companies in the U.S. have agreed to pay wages for hourly employees impacted by the ongoing corporate response to the coronavirus outbreak. It’s the right thing for companies to do, from both a health and safety perspective, and to ensure that the hourly workers who are most impacted by work stoppages and shortages are not adversely affected by events...