Course in america we go into the jobs report next thursday because of independence day, a week from today. Is viruserica, it front and center. I would agree with you, europe is a different tapestry this morning. Francine it certainly is. Watch out for germany because it seems the overall number of infections rose, but there are pockets where it is researching. Lets get to first word news in new york city with ritika gupta. Ritika good morning. The u. S. Has not seen a day like this since the coronavirus pandemic hit. The country registered its biggest ever jump in cases, and that is leading some governors to reopen their states. To pause reopening their states. Texas has suspended elective surgeries in big cities. Businesses that are already open and operate. There are reduced occupancy limits. The administration has asked filed a brief with the Court Last Night that urges the entire Affordable Care act must fall, including its protections for people with preexisting conditions. The Su
Joining us live from montclair, new jersey, is the editor at large of inc. Magazine talking. Com and we are about the Paycheck Protection Program. Thank you for joining us. Explain the Paycheck Protection Program and give us this days report on the new law . Now there isht money available for businesses who need it. That allows them to get a loan backed by the fda that will allow you to pay your employees, potentially, while your business is closed. The first round of the money for the program was 349 billion dollars and it ran out after just under two weeks, about 13 days. The second round of money, we believe there is 100 billion left. A lot of people think the program is over, but for Business Owners for whom this is a good solution for keeping employees on, there is money Still Available and they should apply. Host what did you learn about part one of the program . What needed improvement . Guest a lot of dissatisfaction a lot of dissatisfaction was centered on the way it was execu
Program during the development of the cares act two months ago. Since its launch in early april, this program has provided forgivable loans totaling more than 510 billion to approximately 4. 3 million small employers across the country. The overwhelming majority of borrowers are very small employers. In phase one of the program, the average p. P. P. Loan size nationally was 206,000. That translates to an average employer size of just 18 employees. As more loans have been approved in phase two, the average loan size nationally has dropped to 118,000, suggesting an average business size of about ten employees. In maine, the average loan size is even smaller with borrowers having an estimated 12 employees in phase one and just three employees in phase two. According to the u. S. Census bureau, nearly twothirds of the Small Businesses in maine have benefited from p. P. P. Loans, and that is, im pleased to say, among the highest rates in the nation. In many ways its not a surprise. Maine is
An awesome day i wanted to get with you first so thanks so much. Youre very welcome look forward to talking in the future. David, well see you later. Thanks for that. Good morning welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt coming to you live from separate locations. Interesting price, but not dramatic, another alltime high on the ndx for a second day. S p really about 100 points from going green for the year vix below 25 the 10year yielding 0. 8 very busy morning in terms of critical levels, morgan. Absolutely. I think the headline numbers are milestones you put out there, put night focus in terms of how swift the selloff was and plunged into a bear market and now how swift this rebound, this rally weve seen in recent weeks, has been as well. That being said, there is a lot and i feel like we say this every day, but so much for the market to digest right now, whether the ecb and the Bond Buying Program announced this morning, whether the initial jobl
We are here to talk about the Patient Protection program. Explain the Paycheck Protection Program and give us a status report on how this part of the new law is doing. Guest thanks for having me on. The Paycheck Protection Program, right now, there is money available for businesses who need it. What it allows is a loan backed by the fda that will allow you to pay your employees potentially while your business is still closed. The first round of money for that program was 349 billion, and it ran out just after under two weeks, about 13 days. The second round of money, we believe there is still about 100 billion left. A lot of people think the program is over or that it is not available to them, but for Business Owners for whom this is a good solution for being able to keep their employees on, that is no money available, and they should apply if they think it will work for them. Host what did you learn in part one of this program . What needs improvement . Guest part one of the program c