Catch up on the developing stories making headlines.coronavirus
The Fed on Sunday made an emergency cut to its key interest rate, slashing it by a full percentage point to a range between zero and 0.25%. The central bank said it would stay there until it feels confident the economy can survive a near-shutdown of activity in the United States.s are plunging as airlines cut service and public facing companies shut their doors. Stocks are down 9% after trading resumed on Wall Street following a temporary halt Monday morning.
MANUFACTURING: PSA Group, whose brands include Peugeot and Citroen, is closing its factories in Europe until March 27 because of the virus. The French automaker said Monday that along with severe illnesses close to its production sites, it decided to close the factories because of supply chain disruptions and “the sudden decline in the automobile markets.
TABLE FOR NONE: On Monday, the governors of New York, Connecticut and New Jersey essentially placed a curfew on bars and restaurants. The three Northeastern states ordered bars, restaurants and movie theaters closed to the public by 8 p.m. Essential businesses like supermarkets and gas stations will be able to stay open after 8 p.m. Take-out and delivery orders from restaurants are not banned.
No cash to make payrolls- we’re going to barter system
Conserve cash? Like not loan it to people that really need it?