The latest initial jobless claims report shows that layoffs of employees were lower in some of the already hardest-hit states, but were widespread nonetheless. The twin economic powerhouses of the United States, California and Texas, over the past three weeks saw a surge of roughly 2.2 million and ... READ MORE >
coronavirus
The perfect storm: Tough times ahead for the U.S. shale industry
A swift drop in oil demand from China and the oil price war between Saudi Arabia and Russia have led to a global crude surplus. The oil industry in the United States faces tough times ahead as the coronavirus pandemic continues to inject uncertainty into oil markets, and shale producers especially are ... READ MORE >
Fed sets up $2.3 trillion in liquidity commitments, introduces Main Street Lending Program
The Federal Reserve made history on Thursday by moving aggressively to provide up to $2.3 trillion in liquidity commitments to support the economy. This policy intends to bolster households, small and medium-sized firms, and the ability of state and local governments to float debt to ensure critical ... READ MORE >
Initial jobless claims surge by 6.6 million, implying unemployment rate of 14.6%
The carnage in the American labor market continued unabated for the week ending April 4 as first-time jobless claims soared to 6.6 million, which implies a real-time U.S. unemployment rate of 14.6% at a minimum. Once one takes into account those who have lost their jobs but are not showing up in the ... READ MORE >
In the confusion of a pandemic, alternative data can show the way
Suppose you could turn back time and re-evaluate your company’s response to the coronavirus. There’s no crystal ball, but you have something that offers great insight – alternative data. How would you use it and what would you do differently? Which data sources would you trust the most and how would ... READ MORE >
How banks can help their customers navigate the coronavirus shock
As banks begin to help their small and midsize commercial borrowers obtain financing under the CARES Act, the reality is setting in just how severely the economy is being disrupted by the coronavirus. Even though the CARES Act provides a stimulus package of $2.39 trillion, or 11.4% of gross ... READ MORE >
Federal Reserve backstops Paycheck Protection Program
The Federal Reserve on Monday put forward another in a series of lending facilities intended to fortify the economy as it absorbs three large shocks that are cascading across the U.S. economic landscape. In our estimation, this move represents a de facto rescue of the Paycheck Protection Program, the ... READ MORE >
RSM introduces coronavirus projection model
To help businesses better understand the growth of Covid-19 infections and assess when to begin assuming more standard operations, RSM has developed a fitted curve projection model. The number of coronavirus cases in the United States has continued to surge, moving past 336,000 this past weekend. There ... READ MORE >
How family offices and their portfolio companies might qualify for loans under the CARES Act
The CARES Act is a $2.2 trillion fiscal policy response to help American citizens and businesses struggling with the severe impact from the coronavirus pandemic. The law created several important programs to help provide liquidity to small and midsize businesses to cover payroll or other business ... READ MORE >
Cybersecurity, amid coronavirus, remains a top risk in health care
Cybersecurity remains a top risk within the health care industry as attackers are weaponizing COVID-19 and breaches continue to increase during the first quarter of 2020. In 2019, there were more than 500 reported breaches to the Office of Inspector General. Of the 500 breaches reported, the protected ... READ MORE >