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Minneapolis Federal Reserve President Neel Kashkari said Sunday he expects the path to economic recovery from the coronavirus pandemic will be a "long, hard road," pouring cold water on hopes for a "V-shaped" rebound.
"But then again, we don't know if this support is going to be long enough," Kashkari added

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86 of the 90 new cases in the state are reported to be Minnehaha County residents. There are now 438 total COVID-19 cases reported in Minnehaha. The South Dakota Department of Health says it is important to note that Minnehaha County is currently experiencing substantial community spread of COVID-19.

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Trump threatened to veto the $2.2 trillion Coronavirus Aid, Relief, and Economic Security, or Cares, Act if the legislation contained any money directed to bail out the postal agency, according to a senior Trump Administration official and congressional official. Gary Peters (D-Mich.) and Ron Johnson (R-Wis.) added a last minute $10 billion Treasury Department loan to the Cares Act to keep the agency on firmer ground through the spring 2020

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Cruz acknowledged that there is no proof that the new coronavirus escaped from a lab but “we do know the first major outbreak was in Wuhan, China,” and within a few miles of the so-called “wet market” where the outbreak began, two labs were studying coronaviruses of the type found in bats sold as food at the market.

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The experimental COVID-19 treatment remdesivir is showing early promise in the battle against the coronavirus outbreak, according to a small research study. “These are patients who received treatment through the compassionate use program for remdesivir, which is for critically ill patients who are unable to take part in a clinical trial,” said Gilead CEO Daniel O’Day in an open letter released Friday.

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In recent weeks, at least 10 cruise ships reported crew or passengers that tested positive or experienced respiratory symptoms or flu-like illness. The industry is losing billions of dollars and serious damage to some companies’ reputations, but Lara said cruise companies will weather this storm, while keeping passengers safe and healthy.

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In Wisconsin and Ohio, farmers are dumping thousands of gallons of fresh milk into lagoons and manure pits. The closing of restaurants, hotels and schools has left some farmers with no buyers for more than half their crops.
The nation’s largest dairy cooperative, Dairy Farmers of America, estimates that farmers are dumping as many as 3.7 million gallons of milk each day.

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On Thursday, State Farm, the largest auto insurance company in the country, joined Allstate, Geico, Liberty Mutual, Progressive and others, in announcing refunds to its customers. State Farm said it will be returning a $2 billion dividend, with most customers receiving a 25 percent policy credit on premiums paid between March 20 and May 31.

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During the week, hand sanitizer sales skyrocketed 470% from the year before, according to Nielsen data. Nielsen reported that bath tissue, facial tissue and paper towel products all saw triple-digit sales increases during the week.
Sales of hair clippers increased 166% and hair coloring products rose 23%, from the same period a year earlier, according to Nielsen.

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Businesses are very competitive nowadays and they need diversified strategies to sustain and grow in the market. Events are the best source of marketing and branding. All the launching events give a clear insight into a consumer about your brand. Three things brands should consider for success
1. Align Ideas to synergize success
2. Understand the needs of the consumer
3. Separate marketing strategy with business objectives, when creating strategy

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Toilet paper demand is typically very steady, and the handful of companies that make it have tight profit margins.There's also the divide between commercial grade toilet paper, and the plushier variety for home use. They are made from different pulp, on different machines, and the commercial grade products aren't set up to make it to store shelves.

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Lucy, a 31-year-old UK native, works in entertainment on the Serenade of the Seas, which is now anchored near the port of Barbados void of its usual 2,500 passengers, and housing about 780 of its 900-person crew. "It was a horror journey, You see, initially we were told we were going into self-isolation for 72 hours, then it got extended to 14 days" she said

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In light of the unprecedented number of claims, the state is now partnering with Google, Deloitte, and Verizon to beef up its rickety unemployment application system. The labor department has said it will begin a new “call back” feature, in which state representatives will reach out to them to finish applications. Deloitte and Verizon are also helping to increase the labor department’s phone capacity.

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“Stocks are up because the damage to the economy — evident in claims — is beyond comprehension, while the response of the Fed is easier to understand,” wrote Chris Low, chief economist for FHN Financial, in a note out Thursday after the jobless claims data. In an analysis published Thursday, investor Ned Davis notes that the stock market does better than average when unemployment spikes.

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Industrial company 3M announced Friday that it is suing a New Jersey company for alleged price gouging and illegal trade practices involving N95 respirators, a key piece of medical equipment in short supply during the coronavirus pandemic. The company, Performance Supply LLC, tried to sell $45 million worth of masks at markups up to 500% to New York City officials while falsely claiming to be affiliated with the larger manufacturer,3M

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U.S. inflation pressures have eased more than expected as the nation’s economy ground to a halt last month due to the growing COVID-19 pandemic. Stripping out volatile food and energy prices, core inflation also dropped more than expected, falling 0.1% in last month, following February’s rise of 0.2%.

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According to Forbes Magazine, Amazon CEO Jeff Bezos has a net worth of $124 billion, which makes him the richest person on the planet. Not even a $40 billion divorce settlement toppled him from the title. His net worth is now more than the entire GDP of Dubai which stands at $102 billion. Bill Gates came at the second spot on the list with $103 billion net worth

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“I can’t just sit here and do nothing,” Knox said of the decision to take down the dollar bills to try and help her employees. While Knox is unsure if the stapling of the money on the walls will continue, she said she is thinking of a different plan for customers to leave their mark.

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Big Lots Inc. BIG, shares soared 29.4% in Thursday trading after the retailer announced sale and leaseback agreements that will yield net proceeds of $550 million after taxes and expenses and the stock was upgraded at JPMorgan.

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“We appreciate your announced intention to address each of these issues,” the letter reads, “but it is alarming that Zoom allowed these security breaches to affect millions of users and did not identify or resolve them until they became public.” In light of those concerns, Warren and Markey ask CEO for detailed and specific information on the company’s data practices and security history.

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The country that famously helped kick-start the world economy after the 2008 global financial crisis with a half-a-trillion-dollar spending splurge has been relatively restrained this time around. While it is helping companies keep workers and pushing its state-run banks to lend more, China has held back from spending on big packages or flooding its financial system with money.

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Amazon CEO Jeff Bezos made a surprise visit to an Amazon fulfillment center and a Whole Foods store as workers have called on the company to better protect them against the coronavirus. The visit on Wednesday comes as Bezos and Amazon have faced criticism from warehouse workers, Whole Foods employees, union officials and legislators about a lack of protective measures for employees who continue to work during the coronavirus outbreak.

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The 30-year fixed-rate mortgage remained flat at an average of 3.33% during the week ending April 9, Freddie Mac reported Thursday. “The type of loan you’re getting is going to lead to different rates,” Danielle Hale, chief economist for Realtor.com, told MarketWatch.

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On Tuesday, April 7, CVS Health will launch the operation of a rapid COVID-19 testing site in Lowell, the first of its kind in the state. CVS Health and Walgreens each opened one drive-thru testing location last month — but they're now expanding the number of sites and opening them to the general public.

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As part of its announcement, the Fed expanded its corporate lending programs to take it into an entirely new area, including ETFs of companies that are rated below investment grade. It had previously announced a program to buy investment-grade corporate debt and ETFs.It also will now accept triple-A-rated commercial mortgage-backed securities and collateralized loan obligations as part of its Term Asset-Backed Securities Lending Facility, first created in the financial crisis.

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