Marketplace Morning Report

Given the virus, Macy’s is now furloughing most of its 125,000 employees. Amazon has fired the employee who organized a walk-out on Monday. Food pantries struggle with staffing and logistics.

From the BBC World Service: While new data suggests China’s economy is rebounding, the rest of Asia faces “economic pain.” India mulls direct cash transfers to help migrant workers. Worries over COVID-19 are boosting local fish sales in Kenya.

Oil prices hit an 18-year low. Workers at an Amazon warehouse in Staten Island are planning a strike for Monday. How this “cancellation economy” is affecting places like the Coachella Valley in California.

The COVID-19 relief bill signed into law last week sets aside more than $350 billion for loans to small businesses. How are convenience stores faring? Egg and orange juice prices soar.

From the BBC World Service: With hospital parking lots busier due to COVID-19, what can health workers do? Global governments add more stimulus. Developing countries need increased health spending to tackle the pandemic.

The Dow has been up big the last couple of days, but history shows us there are occasional bull moments in bear markets. Some automakers are hoping to re-open factories in April. Does increasing unemployment compensation incentivize not working?

The House is scheduled to vote today on a third coronavirus relief package. An update on consumer confidence during COVID-19. Concerns about utilities like electricity or water being shut off in parts of the country.

From the BBC World Service: Living paycheck to paycheck is common in countries like Kenya. Migrant workers in India struggle to access financial aid. A Portuguese cafe in east London is lending a hand with a hot meal for those in need. 

This morning, we got the worst spike ever recorded in the number of people signing up for unemployment. And the data we’re getting from government agencies might not be capturing the full scope of the damage. Virus relief bill passes in the Senate.

A Nobel laureate offers a prescription for managing COVID-19 while phasing the economy back in. Today’s first-time unemployment claims number will be the largest in U.S history.