Governments are responding to the coronavirus pandemic by effectively closing large parts of the economy and hoping they restart when the crisis eases, Marcus Walker writes. However, economists point to numerous pitfalls in this unproven strategy.
The Trump administration promises to get a loan program for small businesses up and running by Friday, aiming to prevent companies from going out of business or laying off workers. Companies with fewer than 500 employees can seek as much as $10 million to pay expenses, including wages and rent, for two months.
The coronavirus outbreak has brought an epidemic of phishing emails -- they're up more than 600% since the end of February, reports Barracuda Networks. The security firm says it has detected more than 9,000 attacks in March, compared with 1,188 in February and 137 in January.
The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency are postponing the current expected credit losses standard until 2022. The regulators hope to smooth disruption to bank lending.
COVID-19: A look at how a pandemic can affect an economy
The COVID-19 health crisis is seriously affecting communities, businesses and economies. Looking at past pandemics can help us better understand the long-term effects. Learn more.
COVID-19: An enterprise view for protecting people and operations
Recently, members of Aon's Coronavirus Client Task Force hosted a client webinar to discuss how businesses can drive business resiliency, support colleague well-being and help your colleagues protect financial assets as the COVID-19 event continues to unfold. Access Aon's COVID-19 Response Site for the replay and other resources designed to support organizations planning efforts that impact their business, their employees and their communities.
Courage is the commitment to begin without any guarantee of success.
Johann Wolfgang von Goethe, poet, playwright, writer, scientist, statesman, theater director, philosopher
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