THE NEW YORK TIMES

Scary Times for U.S. Companies Spell Boom for Restructuring Advisers

Corporations are saving cash, cutting costs and refinancing debt to manage the economic fallout of the coronavirus. Restructuring and bankruptcy experts are already getting calls.

THE NEW YORK TIMES

Stocks Drop After Wall Street’s Best 3-Day Run Since 1933

 Stocks fell on Friday as investors who initially cheered progress on a $2 trillion U.S. relief package saw further economic troubles ahead.

https://www.nytimes.com/2020/03/27/business/stock-market-today-coronavirus.html

THE NEW YORK TIMES

The Senate unanimously passed a $2 trillion stimulus plan

THE NEW YORK TIMES

The $2 trillion relief package is the biggest in American history

The White House and Congress struck a deal in the predawn hours to deliver $2 trillion in government relief to a nation increasingly under lockdown, watching nervously as the twin threats of disease and economic ruin grow more dire.

THE NEW YORK TIMES

Wartime act will be invoked to produce test kits

The Trump administration plans to use a wartime production act for the first time on Tuesday and mandate the production of 60,000 coronavirus test kits as state leaders ramp up pleas for assistance in combating the coronavirus pandemic.

THE NEW YORK TIMES

The Fed says it will buy as much debt as it needs to cushion the blow for businesses.

The Federal Reserve said it would buy as much government-backed debt as it needs to keep financial markets functioning, and unrolled a series of programs meant to shore up both large and small businesses — a whatever-it-takes effort to cushion the economic blow of the pandemic.

THE NEW YORK TIMES

Coronavirus Stimulus Package Spurs a Lobbying Gold Rush

WASHINGTON — Restaurants say they need $325 billion in federal assistance. Boeing wants $60 billion. The travel industry has requested $250 billion and manufacturers are seeking $1.4 trillion in loans to deal with the economic devastation being wrought by the coronavirus.

THE NEW YORK TIMES

Trump Seeks $500 Billion in Checks for Taxpayers

WASHINGTON — The Trump administration on Wednesday broadened the government’s response to the coronavirus pandemic and spelled out the first details of a $1 trillion economic package, asking Congress for an infusion of $500 billion for direct payments to taxpayers and $500 billion in loans for businesses.

THE NEW YORK TIMES

U.S. Closing Canadian Border as Virus Affects All 50 States

In a further attempt to slow the spread of the virus in America, where it has now claimed more than 100 lives, President Trump announced on Wednesday that the border with Canada was being closed to all but essential traffic.

Canada had already closed its borders to most foreigners — but not Americans — in an attempt to keep the virus at bay.