Wednesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.
Wednesday morning we get an economic report that will likely show the US sliding into a recession.
Gross Domestic Product measures all goods and services.
It’s for January through March so it will show just the tip of the iceberg, when the economy was forced to shut down in the second half of March.
It’s expected to be the worst quarter since the Great Recession.
US consumer confidence plunged in april as millions lost their jobs.
It”s now at the lowest in six years.
The share of people saying that jobs are “plentiful” was more than halved, to 20 percent in April.
The U.S. plans to lend $500 billion to large companies. it won’t require them to preserve jobs or limit executive pay.
The Washington Post reports the Federal Reserve money will buy bonds from big companies as some immediate cash to make ends meet.
Airbnb introduces 24-hour buffer between rentals.
Starting in May, Airbnb will strongly encourage hosts to sanitize rooms after visitors leave using new, comprehensive cleaning guidelines.
These new cleaning guidelines, geared toward COVID-19 prevention, recommend masks, gloves and specific disinfectants.