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AP-US-AP-EXPLAINS-VIRUS-OUTBREAK-DEFENSE-POWERS
AP Explains: What exactly is the Defense Production Act?
WASHINGTON (AP) — President Donald Trump is turning to a 1950 law to boost private production of supplies needed to confront the coronavirus pandemic. Trump says he'll invoke the Defense Production Act. That law was signed by President Harry S. Truman during the Korean War. It gives the president broad authority to mobilize the resources and production of private companies to meet the needs of the national defense. That could be especially important for the U.S. government as it braces for a surge in coronavirus cases and shortfalls in medical supplies. The law has been invoked multiple times by presidents of both political parties during emergencies, including blackouts, war and hurricanes.
VIRUS OUTBREAK-CONGRESS
Treasury proposal: Deliver $500B to Americans starting April
WASHINGTON (AP) — The Senate has approved — and President Donald Trump has signed — a $100 billion-plus bill to boost testing for the coronavirus and guarantee paid sick leave for millions of workers hit by it. Lawmakers and the White House have already turned their focus to the administration's far bigger $1 trillion plan to stabilize the economy as the pandemic threatens financial ruin for individuals and businesses. The centerpiece of Trump's economic rescue plan is to dedicate $500 billion to start issuing direct payments to Americans by early next month. The amounts would depend on income and family size. It would also funnel cash to businesses to help keep workers on payroll.
AP-US-VIRUS-OUTBREAK-UNEMPLOYMENT-FUNDS
Coronavirus layoffs spark surge in state jobless claims
JEFFERSON CITY, Mo. (AP) — Applications for jobless benefits are surging in some states as coronavirus concerns shake the U.S. economy. The sharp increase comes as governments have ordered millions of workers, students and shoppers to stay home as a precaution against spreading the virus that causes the COVID-19 disease. In some states, the demand for help may outstrip the ability to pay claims. The U.S. Labor Department says 21 states began the year with unemployment insurance fund balances below the levels recommended to stay solvent in a recession. States are expected to get some help from the federal government.
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USDA to appeal ruling, seeks food stamp change amid pandemic
WASHINGTON (AP) — The Agriculture Department says it will appeal a judge’s ruling that it would be “arbitrary and capricious” to move forward during a global health crisis with food stamp changes that could force hundreds of thousands from the program. Federal Judge Beryl Howell, in a ruling late last week, stopped a set of changes that would have taken effect on April 1, On Wednesday, an Agriculture Department spokesperson responded to an Associated Press query with a terse email, saying only that “USDA disagrees with the court’s reasoning and will appeal its decision.”
AP-FINANCIAL-MARKETS
Asian shares resume decline after latest Wall St tumble
BANGKOK (AP) — Shares in Asia have fallen, with Japan's benchmark failing to hold onto early gains after the latest selloff on Wall Street. Stocks fell in Tokyo, Sydney and Seoul in early trading Thursday. Markets have been skidding as fears of a prolonged coronavirus-induced recession take hold. The Dow industrials lost more than 1,300 points, or 6.3% on Tuesday. The Dow has now lost nearly all of its gains since President Trump's inauguration. Wednesday's losses deepened after a temporary halt was triggered in the early afternoon. Even prices for investments seen as very safe, like longer-term U.S. Treasurys, fell as investors rushed to raise cash. The price of oil fell 24%, dropping below $21 per barrel for the first time since 2002.
AP-US-VIRUS-OUTBREAK-MEDIA-PSAS
White House, media team up for virus public service campaign
LOS ANGELES (AP) — First lady Melania Trump and top infectious disease specialist Anthony Fauci will take part in public service messages aimed at informing Americans about the coronavirus. The White House says Wednesday it's joining with major media companies, digital platforms and the Ad Council to share “accurate and timely information directly to the American people.” The public service campaign will direct people to coronavirus.gov, which includes centralized, updated information on the crisis. NBCUniversal, ViacomCBS and Walt Disney Television are among the companies that are taking part in the effort to inform Americans about how to protect themselves and others from the coronavirus.
AP-VIRUS-OUTBREAK
Trump invokes emergency authority, no new cases in Wuhan
MINNEAPOLIS (AP) — President Donald Trump invoked emergency authority to marshal industry to fight the coronavirus, likening the effort to a “war.” The economic fallout from the pandemic was mounting with major U.S. auto manufacturers saying they are shutting down their North American factories. Stocks tumbled again on fears of a prolonged recession, with the Dow Jones Industrial Average shedding more than 6%. But in one bright spot, China says the former virus epicenter of Wuhan and its surrounding province has reported no new cases. It is a dramatic change in the city overwhelmed by thousands of new patients each day when the outbreak was peaking there last month.
AP-VIRUS-OUTBREAK-THE-LATEST
The Latest: Wuhan reports no new cases of virus infection
China's health ministry says the virus epicenter of Wuhan and its surrounding Hubei province have reported no new cases. The ministry said all 34 new cases detected in the country were people arriving from abroad. Eight new deaths were reported, all in Wuhan. China has only just begun loosening draconian travel restrictions within the country, but has stepped-up 14-day quarantine regulations on those arriving in Beijing, Shanghai and elsewhere from overseas, amid expectations of a new influx of students and others returning home. Wuhan at the peak reported thousands of new cases daily, overwhelming its health care system.
AP-US-VIRUS-OUTBREAK-CRUISE-SHIPS
2 cruise ships turned away by other ports head to Honolulu
HONOLULU (AP) — Two cruise ships that were turned away by other ports are headed to Honolulu. Officials say there are no positive cases of coronavirus on either vessel. Holland America Line's Maasdam is scheduled to arrive Friday. The Norwegian Jewel is scheduled to arrive Sunday. New measures to seal borders to reduce the spread of coronavirus have left some cruise ships stranded. The Cruise Lines International Association said about 40 ships with 90,000 passengers were at sea when President Donald Trump announced a ban last week that restricts the travel of many foreigners to the U.S.
AP-US-VIRUS-OUTBREAK-FORECLOSURES-SUSPENDED
Freddie, Fannie suspend some evictions and foreclosures
Mortgage buyers Fannie Mae and Freddie Mac say they will temporarily suspend foreclosure sales and evictions of borrowers in single-family homes owned by their companies. The action is among many efforts nationwide to protect those affected by the coronavirus pandemic. The government-controlled companies also announced an expansion of forbearance programs and the suspension of reporting to credit bureaus of past due payments for certain borrowers hurt by the national emergency. Fannie Mae and Freddie Mac do not make loans, but buy them from lenders and bundle them into securities, guarantee them against default and sell them to investors.
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