In a press conference May 6, Gov. Andrew Cuomo said that 66% of new hospitalizations in New York for Covid-19 were people who had been staying home. “This is a surprise: Overwhelmingly, the people were at home,” Cuomo said. “We thought maybe they were taking public transportation, and we’ve taken special precautions on public transportation,
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Consumer spending plunged by a record 16.4% in April, but one category saw a bounce: nonstore retailers. Included in this category, which saw an 8.4% month-over-month increase, is online shopping. With much of the country under shelter-in-place orders during April, consumers increasingly turned towards e-commerce giants like Amazon for their shopping needs. As the pandemic
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U.S. President Donald Trump’s name appears on the coronavirus economic assistance checks that were sent to citizens across the country April 29, 2020 in Washington, DC. Chip Somodevilla | Getty Images News that the U.S. government has deployed millions of stimulus checks for up to $1,200 per individual has made headlines. But still many individuals
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Agatha Kulaga, co-founder and CEO of Ovenly Source: Agatha Kulaga There’s no doubt the coronavirus pandemic has hit small businesses hard. For some, like retail and wholesale bakery Ovenly, it meant completely shutting down their operations. The New York-based business had to lay off its entire staff of 66 employees, said Agatha Kulaga, the co-founder and
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Under ordinary circumstances, the opportunity to make changes to workplace health plans and flexible spending accounts happens only once a year. However, new guidelines from the IRS allow workers to revisit those elections now in response to the coronavirus pandemic. “I cannot think of a time when the IRS has been this flexible,” said David Speier, managing
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