Treasury chief blocks disclosure of COVID loan recipients
Treasury Secretary Mnuchin refuses to reveal names and amounts of Paycheck Protection Program loan recipients calling the data proprietary. Ethics advocates and lawmakers call it opaque as hundreds of publicly traded firms received funds before returning them amid concerns. Senate leaders urge transparency to ensure aid reaches truly small and unbanked businesses.
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Fed vows full range of tools to counter pandemic recession
The Federal Reserve pledges to use its full toolkit to support the U.S. economy and keep rates near zero through 2022 amid what policymakers describe as severe economic damage from the COVID-19 pandemic. Chair Powell will testify on the outlook as unemployment remains high and growth is forecast to plunge. The report notes the Fed will continue large scale asset purchases to stabilize markets. Confidence in a rapid recovery has faded, with markets reacting to the downturn and political commentary amid the crisis.
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Stocks end higher on volatile day but post weekly loss
U S stocks finished broadly higher after a wobbling session as the S P 500 rose 1.3 percent and the Dow gained 477 points. The week ended with the benchmark down 4.8 percent, its first weekly drop in three weeks amid ongoing Covid worries and a Federal Reserve cautious outlook. Starbucks unveils its own Black Lives Matter shirt after previously banning related gear, prompting social media fury amid protests sparked by George Floyd’s death.
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Stores end locking up black beauty products
Walgreens and CVS Health say they will stop locking up beauty and hair care items aimed at black women and other people of color, joining Walmart which began the change at some stores amid nationwide protests. Walmart had faced a 2018 federal discrimination suit later dropped.
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Pet care center offers half price day care and boarding
Welfare temporarily provides half price day care and boarding specials for pets. Added services include pet taxi pickups and vet visits. Details unclear due to OCR errors but indicates reduced rates and transport assistance for pet welfare.
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