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This briefing is no longer updating. Read the latest developments in the coronavirus outbreak here. A government program offering low-interest loans and tiny grants to small companies harmed by the pandemic has stopped taking nearly all new applications because its funding is exhausted.

Hundreds of applicants who applied more than a month ago said they were still waiting for a response. The S. Tamar Lowell, the chief executive of Access Culinary Trips , a culinary tour company based near Seattle, applied for a disaster loan in mid-March. When she asked an agency official how to appeal, the S. Badly in need of the cash, she accepted. Lowell said. Tech stocks have been rallying on the view that giant companies like Amazon , Apple , and Microsoft will emerge from the coronavirus pandemic with even more power than they had before it began.

The Nasdaq also includes companies like the conference app maker Zoom , home fitness company Peloton Interactive , and Netflix , all of which have rallied this year as demand for their services skyrocketed. The Nasdaq is still well below its highest point of the year, reached in February. Both indexes gained more than 1 percent on Thursday. Those gains came even after the latest report on weekly unemployment filings showed that more than three million workers in the United States claimed benefits last week.

Also on Thursday, the Bank of England projected that the British economy would contract 30 percent in the April-June quarter, and 14 percent for the year. Investors have been looking past grim economic projections, and the mounting death toll, to bid up stock prices on expectations that the number of coronavirus cases will begin to ebb, and that they can expect more government support for businesses and markets. A standoff between Amazon and French unions over safety measures for the coronavirus grew tenser on Thursday when the company said it would ask the French highest court to overturn an appeals court decision last week that ordered the e-commerce giant to stop delivering nonessential items in France during the pandemic to protect workers.

Amazon will also seek approval on Friday from workers councils, which represent around 10, employees, to keep its six mammoth French warehouses shut until May 13, as it consults with them on steps to further enhance safety measures against the virus. The court ruled that Amazon must restrict deliveries to only food, hygiene and medical products until it addressed the issue, or face millions of euros in potential fines.

Rather than risk the penalty, Amazon put its work force on paid furlough , but it is continuing to deliver items to France from its centers in Belgium, German and Spain. The company lashed out at the unions for bringing the lawsuit, which was upheld by the Versailles Court of Appeals last week. Amazon insists that it has maintained rigorous health safety at its French sites, and has accused unions of seeking to further their own interests amid the health crisis.

Uber and Lyft said in earnings reports this week that demand for their ride services had plummeted in the wake of the coronavirus pandemic. Both companies said usage sank as much as 75 percent in late March, when consumers in the United States stopped traveling and began staying at home under shelter-in-place orders.

Financial analysts expect some recovery in the current quarter, as riders slowly return to Uber and Lyft, but the impact could continue for years. Daniel Ives, managing director of equity research at Wedbush Securities, estimates that 30 percent of gig economy revenue could disappear over the next one to two years.

Ives said. Both laid off employees while executives took pay cuts. Uber offloaded its unprofitable bike and scooter rental service and shut down food delivery in certain countries where it was burning cash.

Neiman Marcus on Thursday became the first major department store group to file for bankruptcy protection during the coronavirus pandemic. At the end of March, the coronavirus crisis temporarily forced the closure of all 43 Neiman Marcus stores, as well as its two Bergdorf Goodman stores and Last Call outlets, all but stopping sales and crushing revenue. Together, those developments left the group in a precarious position even before the virus hit. The pandemic has been disastrous for the already weakened retail industry.

Last month, sales of clothing and accessories fell by more than half. Earlier this week, J. Crew filed for bankruptcy. Retailers have furloughed employees, slashed corporate salaries and hoarded cash in a desperate attempt to make it to the end of the shutdown. The decision makes it one of the most prominent start-ups to return one of the loans after a public outcry about big or well-capitalized businesses taking the money. Its backers include deep-pocketed investors like Tiger Global, T.

Rowe Price and Fidelity. Zwillinger said Allbirds was responding to the swell of demand from smaller businesses that had not been able to obtain loans. A number of large public companies applied for the loans at the outset of the program only to face a backlash when it became clear that smaller operations had been shut out. The government has urged them to return the funds by next Thursday if they can gain access to other sources of capital. To date, at least 44 public and private companies have returned their loans.

The loss in low-wage jobs from mid-February through mid-April was larger than the total of all jobs lost, at any wage level, during the previous recession and global financial crisis. The data shows that 35 percent of all low-wage workers lost their jobs, at least temporarily, during the first months of the current crisis, compared with 9 percent of the highest-wage workers. Evidence has already made clear that low-wage earners, who are the workers most at risk of falling into poverty, and small businesses have born the brunt of the pandemic thus far.

But the new research makes clear the sheer scale of the destruction and the degree to which it has exacerbated existing inequalities in the job market. The data shows 40 percent of all the jobs lost so far are in firms that appear to have stopped operating, either temporarily or permanently, amid the crisis, another author, Erik Hurst, said in an interview. That is particularly true among small businesses with 50 or fewer employees, which the data shows are far more likely to have laid off workers than large companies.

Penny had filed a lawsuit on Monday that outlined disagreements between the companies, which have been partners since , and highlighted the challenges that many retailers may face with vendors as they try to return to business during the pandemic.

Frontier Airlines became the first U. Anyone with a temperature of On Thursday, Moderna announced that the Food and Drug Administration had cleared its application to proceed to a clinical trial involving about people for an experimental vaccine for the coronavirus. The main goal is to find out if the vaccine is safe and if positive results from the first few dozen volunteers in the first phase can be replicated in a much larger group. If it is successful, later studies will determine exactly how well the vaccine works.

The Walt Disney Company said the acre Disney Springs, one of the largest shopping malls in the United States, would begin a phased reopening on May The lakeside property in suburban Orlando, Fla. Disney said that reopening Disney Springs would involve face masks for employees and guests and limitations on capacity.

Ford Motor said on Thursday that it would restart its factories on May 18, the same day that General Motors and Fiat Chrysler have said that they would resume production. Ford said that workers in its parts depots will return to work sooner, on Monday. Gretchen Whitmer of Michigan said Thursday that manufacturing workers, including those at the automakers, could return to work on Monday.

In a letter to the company, Senator Elizabeth Warren and eight other senators asked Amazon to provide more information about its policies for firing employees. The Bank of England said on Thursday that the economy in the April-June quarter would be nearly 30 percent smaller than at the end of , as consumer spending would fall nearly 30 percent, while business revenue, investment and trade all contracted sharply.

The bank said that the full-year economy for would most likely fall 14 percent — the worst decline for the British economy, it said, since But the company saw a surge in streaming.

The ad-supported, free service, Pluto, saw an uptick in viewers to 24 million. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others. This is a difficult question, because a lot depends on how well the virus is contained.

McClellan, Lauren Silvis and Crystal Watson staked out four goal posts for recovery : Hospitals in the state must be able to safely treat all patients requiring hospitalization, without resorting to crisis standards of care; the state needs to be able to at least test everyone who has symptoms; the state is able to conduct monitoring of confirmed cases and contacts; and there must be a sustained reduction in cases for at least 14 days. The Times Neediest Cases Fund has started a special campaign to help those who have been affected, which accepts donations here.

Charity Navigator , which evaluates charities using a numbers-based system, has a running list of nonprofits working in communities affected by the outbreak. You can give blood through the American Red Cross , and World Central Kitchen has stepped in to distribute meals in major cities. More than 30, coronavirus-related GoFundMe fund-raisers have started in the past few weeks.

The sheer number of fund-raisers means more of them are likely to fail to meet their goal, though. The C. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.

Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. They will decide if you need to be tested. It seems to spread very easily from person to person, especially in homes, hospitals and other confined spaces. The pathogen can be carried on tiny respiratory droplets that fall as they are coughed or sneezed out. It may also be transmitted when we touch a contaminated surface and then touch our face.

Clinical trials are underway in the United States, China and Europe. But American officials and pharmaceutical executives have said that a vaccine remains at least 12 to 18 months away. Unlike the flu, there is no known treatment or vaccine, and little is known about this particular virus so far. It seems to be more lethal than the flu, but the numbers are still uncertain. And it hits the elderly and those with underlying conditions — not just those with respiratory diseases — particularly hard.

If masks are available, both the sick person and the caregiver should wear them when the caregiver enters the room. Make sure not to share any dishes or other household items and to regularly clean surfaces like counters, doorknobs, toilets and tables. Plan two weeks of meals if possible. But people should not hoard food or supplies. Despite the empty shelves, the supply chain remains strong.

And remember to wipe the handle of the grocery cart with a disinfecting wipe and wash your hands as soon as you get home. Even if you just hang out in a park, rather than go for a jog or a walk, getting some fresh air, and hopefully sunshine, is a good idea. Watching your balance go up and down can be scary. The Coronavirus Outbreak. Wall Street rallies, and the Nasdaq turns positive for the year. For Uber and Lyft, the pandemic hits hard.

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Farmers markets in Alaska are slowly sprouting back to life as the economy reopens, with a smaller look, new safety guidelines and a renewed role amid supply concerns for some foods during the COVID pandemic. For farmers like Arthur Keyes, organizer of the South Anchorage Farmers Market , it means taking steps to meet new virus-related health rules, atop the agricultural duties that already consume his life. On Friday, he planned to help install mesh fencing to promote social distancing to prepare for the Saturday opening of the South Anchorage market.

Anchorage farmers markets return, with tight restrictions and hopeful vendors

Reliance, Bharti Airtel close trading week with gains; Eight of top firms lose Rs 2. Edelweiss - May 09, FE Bureau - May 09, The market will remain open on this Saturday and Sunday. Nanda Kasabe - May 09, Prasanta Sahu - May 09,

Flat share market expected at open

It's not too early to try to figure out how we're going to come back from the coronavirus pandemic. Yahoo Finance Video. Elon Musk threatened to exit the state over the Tesla Fremont shutdown, but the site has long-term issues. Microsoft, Chipotle and Netflix are near buy points without this key risk. When Warren Buffett opens his mouth about investing, I listen. But I knew Buffett loved airlines, and I remembered the things he'd said over the years. So when Buffett revealed last weekend that he had sold his UAL stock and all other airline stocks, I was somewhat confused. I believe that decision to dump airlines in the middle of a crisis is short-sighted. I also believe Buffett opted to cash out major airline losses rather than taking advantage of a long-term buying opportunity.

Tesla Inc. Even after following a financial plan, the idea of leaving the workforce right now may seem reckless.

This briefing is no longer updating. Read the latest developments in the coronavirus outbreak here. A government program offering low-interest loans and tiny grants to small companies harmed by the pandemic has stopped taking nearly all new applications because its funding is exhausted. Hundreds of applicants who applied more than a month ago said they were still waiting for a response.

Markets Now

The Australian share market is expected to open only slightly higher on Monday despite a surge on Friday and a rally on Wall Street. The ASX is expected to be led this week by labour force figures. Credit: AFR. The spotlight this week will predominantly be on the retail sector, following strong gains last week after Prime Minister Scott Morrison announced a staged easing of coronavirus restrictions. Myer soared 45 per cent, while Harvey Norman jumped 6. National Australia Bank will on Tuesday release the results of its business confidence survey for April, following a record low in March. Consumer confidence for May will also be released by Westpac later in the week. After a fall of Australia's market could also be impacted by the release of the monthly labour force figures on Thursday. But Dr Oliver said while they would be watched closely, the market shouldn't be too impacted by the figures, unless they fell or rose beyond expectations. The market finished last week up Flat share market expected at open. The Sydney Morning Herald. Futures rose just three points, or 0.

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A market is one of the many varieties of systems , institutions , procedures , social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter , most markets rely on sellers offering their goods or services including labor power in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and resource allocation in a society. Markets allow any trade-able item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights cf. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale local produce or stock registration.