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Business and Economic News

More Minnesota restaurants announce permanent closures

More Minnesota restaurants announce permanent closures

While restaurants across Minnesota await the chance to resume some dine-in operations, a growing list of restaurants in the state say they won't reopen, even after COVID-19 business restrictions are lifted.
by Andrew Krueger

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'A lot to be hopeful for': Crisis seen as historic, not another Great Depression

'A lot to be hopeful for': Crisis seen as historic, not another Great Depression

The speed and scale of the economic crash have drawn comparisons to the Great Depression. But this downturn should be shorter, former Fed Chairman Ben Bernanke and other economic historians say.
by Scott Horsley

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J.C. Penney files for bankruptcy as lockdowns take their toll

J.C. Penney files for bankruptcy as lockdowns take their toll

J.C. Penney began 2020 with hopes of yet another turnaround. Instead, the coronavirus shutdowns across the country have forced the department store and mall mainstay into bankruptcy.
by Alina Selyukh

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Democrats push new $3 trillion coronavirus relief bill through House

Democrats push new $3 trillion coronavirus relief bill through House

Democrats have powered a massive $3 trillion coronavirus relief bill through the House, aimed at bracing the struggling U.S. economy and health care system. Republicans mocked the bill as a bloated Democratic wish-list that was dead on arrival in the GOP-led Senate.
by The Associated Press

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USDA secretary says despite plant closures, he does not anticipate food shortages

USDA secretary says despite plant closures, he does not anticipate food shortages

Sonny Perdue says he expects "85-90 percent production in probably a very few days or weeks." He also says the government is stepping up efforts to buy food from farmers and distribute it to families.
by Steve Inskeep

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Some Hudson businesses and shoppers welcome Wisconsin's 'soft' opening

Some Hudson businesses and shoppers welcome Wisconsin's 'soft' opening

Many small businesses in Wisconsin began opening their doors to customers after Gov. Tony Evers unexpectedly gave them the go-ahead this week. Yet others still worry about keeping staff and customers safe.
by Mark Zdechlik

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36.5 million have filed for unemployment in 8 weeks

36.5 million have filed for unemployment in 8 weeks

Nearly 3 million people filed for unemployment benefits last week, the Labor Department said. It's the latest grim sign of the economic damage from the coronavirus crisis.
by Avie Schneider

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Businesses want to reopen, but how to do it safely?

Businesses want to reopen, but how to do it safely?

More businesses see relief as Gov. Tim Walz’ stay-at-home order lapses on Monday. For the rest, bars, restaurants and salons among them, a possible restart date of June 1 offers some hope, but how exactly business will be conducted is still a question.
by Nina Moini

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