Warren presses Mnuchin on penalties for not protecting jobs

Sen. Elizabeth Warren (D-MA) asked Treasury Secretary Steven Mnuchin why some businesses that are getting federal funding are not required to keep their workers employed. Congress gave Treasury the authority to dole out $500 billion to shore up mid-sized and large corporations. But unlike the Payroll Protection Program and other small-business lending facilities, which forgive … Read more Warren presses Mnuchin on penalties for not protecting jobs

Companies and States Clash Over How to Classify a Gig Worker

May.08 — App-based companies have created a unique labor market for workers. Known as the gig economy, these workers perform tasks for customers that have been assigned to them through mobile apps. The gig workers, if labeled as independent contractors, are left without minimum wage, overtime, benefits, and other job protections that traditional employees receive. … Read more Companies and States Clash Over How to Classify a Gig Worker

Kudlow: Despite ‘Heartbreaking’ Jobs Report, Expect Growth Next Quarter

Larry Kudlow, a top economic aide to President Donald Trump said “these are heartbreaking numbers,” after the Labor Department reported the U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression. “I would expect the numbers for May will be difficult. I expect that.” Kudlow advises the president as the director … Read more Kudlow: Despite ‘Heartbreaking’ Jobs Report, Expect Growth Next Quarter

Pelosi Says President Trump’s Demand for Tax Charges Are Not a Priority

May.07 — House Speaker Nancy Pelosi dismissed President Donald Trump’s recent call for a payroll tax cut and changes in the capital gains tax, saying that wouldn’t help the millions of workers thrown out of their jobs and others struggling in an economy shut down by the coronavirus pandemic. She speaks to David Westin on “Bloomberg Balance of … Read more Pelosi Says President Trump’s Demand for Tax Charges Are Not a Priority

Pelosi on Next Relief Bill, GOP Tax Proposals, Stimulus Oversight

May.07 — House Speaker Nancy Pelosi, a Democrat from California, discusses plans for the next stimulus bill, disagreements with President Donald Trump and Republicans on payroll and capital gains taxes, and the need for urgency in providing another round of aid to Americans. She speaks with Bloomberg’s David Westin on “Balance of Power.”

Pelosi Wants Democrats to Move First in Devising Next Stimulus

Speaker Nancy Pelosi is pushing Democrats to get out of the gate first with another multi-billion-dollar virus relief package to give the House leverage in negotiations with Senate Republicans, who are trying to put the brakes on any new round of expansive aid. Pelosi’s strategy of ensuring that the next economic measure originates in the … Read more Pelosi Wants Democrats to Move First in Devising Next Stimulus

Gig Economy Workers, App-Based Companies, and the Law

App-based companies have created a unique labor market for workers. Known as the gig economy, these workers perform tasks for customers that have been assigned to them through mobile apps. The gig workers, if labeled as independent contractors, are left without minimum wage, overtime, benefits, and other job protections that traditional employees receive. That’s drawn … Read more Gig Economy Workers, App-Based Companies, and the Law

Coronavirus lockdown: The longterm effects on the UK economy – BBC Newsnight

UK Prime Minister Boris Johnson is to announce plans to restart the economy and ease coronavirus lockdown restrictions. But how do you reboot an economy, when the government is paying the wages of more than six million citizens? Subscribe to our channel here: https://goo.gl/31Q53F The government is now paying the wages for nearly a quarter of … Read more Coronavirus lockdown: The longterm effects on the UK economy – BBC Newsnight

Michael O’Leary: ‘Branson can bail himself out’ during coronavirus crisis

Speaking on the UK’s Sky News, Ryanair boss, Michael O’Leary said that Richard Branson “can bail himself out” and said Virgin Atlantic should not receive Government assistance. Ryanair boss Michael O’Leary has told Sky his billionaire rival Sir Richard Branson should not be given a government bailout to save Virgin Atlantic. Mr O’Leary also said … Read more Michael O’Leary: ‘Branson can bail himself out’ during coronavirus crisis

COVID-19 puts 700,000 Australians out of a job in one week | Finance Report

New figures from the ABS, drawn from Taxation Office’s Single Touch Payroll data, show the devastating impact of the pandemic on employment: in total, the number of jobs decreased by 6 per cent over the three weeks since the middle of March, when the latest ABS survey data showed unemployment was at just 5.2 per … Read more COVID-19 puts 700,000 Australians out of a job in one week | Finance Report

Coronavirus Updates: Trump Halts WHO Funding; Airlines Reach Deal for Billions in Aid

Stay informed with QuickTake’s coronavirus coverage of up-to-the-minute stories on the COVID-19 crisis. #Coronavirus #Covid19 #CoronavirusUpdates — TRUMP HALTS FUNDING TO THE WHO Trump said he instructed his administration to temporarily halt funding to the World Health Organization for taking China’s claims about the coronavirus “at face value” and failing to share information about the … Read more Coronavirus Updates: Trump Halts WHO Funding; Airlines Reach Deal for Billions in Aid

Trump: May Give Airlines Bailout Proposal Over the Weekend

Apr.09 — President Donald Trump says he may unveil a bailout proposal for the beleaguered U.S. airline industry over the weekend. Airlines have been frustrated by delays in U.S. aid after being virtually shutdown by the coronavirus. Some of those carriers are depending on federal funds to meet payroll obligations next week and face the prospect of furloughing workers. … Read more Trump: May Give Airlines Bailout Proposal Over the Weekend

Coronavirus: Senate to Pass Economic Rescue Package Wednesday, McConnell Says

The White House and Senate leaders of both parties announced an agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently needed pandemic response measure is the largest economic rescue measure in history and is intended as a weeks- … Read more Coronavirus: Senate to Pass Economic Rescue Package Wednesday, McConnell Says