Fed signals near zero rate and continued bond purchases
The Federal Reserve pledges to keep its key rate near zero for the foreseeable future and to continue buying Treasuries and mortgage-backed securities to sustain cheap lending as the economy stalls from the coronavirus crisis. The statement notes sharp declines in activity and rising unemployment while avoiding specific purchase amounts or timelines.
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Federal Reserve
Fed
Treasury
U.S
Amazon faces delivery strain and worker safety amid pandemic
Amazon, the world’s largest online retailer, sees 2.54 billion March visitors and hires 175,000 more workers as demand surges. Yet delays rise and infections trigger warehouse closures and walkouts, with France halting nonessential deliveries and Kentucky shutting a Shepherdsville warehouse. The company touts safety measures, pay bumps, paid leave through April, and an internal testing lab while balancing rising demand and operating pressures.
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Amazon
Jon Reily
Isobar
Electric Company
Water Company
France
New York
Chicago
Detroit
Kentucky
Shepherdsville
Airbus says virus aviation crisis still at early stage
Airbus reports 481 million euros losses in Q1 and furloughs as it seeks billions in loans amid the coronavirus crisis. CEO Guillaume Faury warns the aerospace industry faces its gravest crisis yet and will take time to rebuild passenger confidence while travel restrictions ease.
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Airbus
Paris
Guillaume Faury
Faury
Boeing
Africa asks China for debt relief amid pandemic crisis
African leaders press Beijing to ease debts as COVID-19 devastates economies and jobs across the continent. China holds about a third of Africa’s sovereign debt and has given only cautious support for debt relief, with analysts doubting unilateral forgiveness. Ghana and Uganda officials urge stronger Chinese action, while global bodies propose moratoriums through 2020. China says it will seek resolution via diplomatic consultations.
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Uganda
China
Beijing
World Bank
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Africa
Angola
Matia Kasaia
Ghana
Ken Ofori-Atta
Center For Global Development
Zhao Lijian
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Ross D. Franklin
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