COVID-19 Related News

COVID-19 Related News

Chapter News, COVID-19 News

US Economic Stimulus: What impact will it have on U.S. household income?

In the wake of the Covid-19 crisis, the US authorities adopted an unprecedented set of fiscal measures, targeting households in particular. These measures aim at preserving the purchasing power of US households, but less than half of this additional income should be spent. Chart 1. Compared fiscal policy responses 2020/2008, Source: Congressional Budget Office (CBO). Image courtesy of La Banque de France. The Covid-19 crisis has led to a sharp deterioration in the US labour market The coronavirus crisis has sent an...
Chapter News, COVID-19 News

Up-to-date report on the status of the Paycheck Protection Program (PPP) from the U.S. SBA

The Small Business Administration (SBA), in consultation with the Department of the Treasury, is providing this guidance to address borrower and lender questions concerning forgiveness of Paycheck Protection Program (PPP) loans, as provided for under section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as amended by the Paycheck Protection Program Flexibility Act (Flexibility Act). Borrowers and lenders may rely on the guidance provided in this document as SBA’s interpretation, in consultation with the Department...
Chapter News, COVID-19 News

IMF | Global Imbalances and the COVID-19 Crisis

The world entered the COVID-19 pandemic with persistent, pre-existing external imbalances. The crisis has caused a sharp reduction in trade and significant movements in exchange rates but limited reduction in global current account deficits and surpluses. The outlook remains highly uncertain as the risks of new waves of contagion, capital flow reversals, and a further decline in global trade still loom large on the horizon. Our new External Sector Report shows that overall current account deficits and surpluses in 2019 were just below...
COVID-19 News, Member News

Troutman Pepper | It’s All Hands on Deck in Prosecuting COVID-19 Fraud

As scientists around the globe team up to discover and develop treatments and vaccine candidates for COVID-19, we are also seeing unprecedented speed and coordination in the effort to quell a different kind of virus — the myriad fraud schemes stemming from the COVID-19 crisis. This article describes the novel, coordinated approach that the government is taking to investigating and prosecuting COVID-19-related fraud, and provides actionable guidance that companies should follow to prevent fraud and possible government scrutiny. As of...
COVID-19 News, Member News

Faegre Drinker | Summary of Executive Actions Impacting Business Immigration

Since April 2020, several executive actions have been issued, and subsequently amended, that have had a significant impact on business immigration. This alert serves to inform clients of the updates to the ongoing U.S. visa system and travel restrictions in response to the global coronavirus pandemic. Since implementation of the restrictions, the Trump administration has issued additional guidance on certain exceptions for eligible persons to obtain a visa or enter the United States. Proclamation 10014 — Suspension of Immigrant Visas Proclamation 10014...
COVID-19 News, Member News

Offit Kurman | Business Succession Planning: COVID-19 Has Changed Things – It’s Time For A Review

Business owners know that it’s important to plan for the succession in ownership of their companies.  It’s the means by which they secure their retirements and get to see their life’s work continued.  That’s why many institute plans for their succession – whether it’s a transfer of the business within their family, to trusted employees who have been groomed to take over, or in a sale to an outside party. However, just like it has changed so much else in...
Chapter News, COVID-19 News

COVID-19 response: Safe collective cross-border travel in the COVID-19 era

As part of the EU's response to the Covid-19 pandemic, the Council today adopted a set of conclusions aimed at restoring passengers’ and workers' confidence by minimising the risk of infection in cross-border collective passenger transport systems. In the conclusions, the Council promotes a number of basic hygiene and infection control measures, which should apply to all cross-border collective passenger transport services. Such recommended measures consist of among others : physical distancing or, where this is not feasible, use of...
Chapter News, COVID-19 News

European Commission secures EU access to Remdesivir for treatment of COVID-19

Yesterday, the European Commission has signed a contract with the pharmaceutical company Gilead to secure treatment doses of Veklury, the brand name for Remdesivir. Veklury was the first medicine authorised at EU level for treatment of COVID-19. As from early August onwards, and in order to meet immediate needs, batches of Veklury will be made available to Member States and the UK, with the coordination and support of the Commission. Stella Kyriakides, Commissioner for Health and Food Safety, said: “In recent...