SWC’s Fast Five
A tough week in the U.S., as we share news regarding protests, escalating conflict with China, more pandemic effect on business and education and a bit of good news for small business recipients of PPP.
So, here’s this week’s Fast Five:
1 More officers charged as protests sparked by George Floyd’s death continue
Four former Minneapolis police officers have been charged in the death of George Floyd, a black man who was killed on Memorial Day, sparking protests that have continued around the U.S., and the world.
2 Congress approves changes to PPP making terms more favorable to recipients
Legislation extending the “covered period” from eight to 24 weeks, expanding the 25 percent cap on using the funds on non-payroll expenses, lengthening the loan terms for unforgiven portions from two to five years at 1 percent interest and more was passed by the House of Representatives May 28 and by the U.S. Senate on June 3. The bill is to go to President Donald Trump for his signature.
3 The U.S. and China ban passenger airline flights in or out of the two countries
The Trump administration on Wednesday announced it would halt Chinese passenger traffic from flying into or out of the U.S., an action that follows China authorizing no U.S. carrier operations between the two countries.
4 Disruption of SAT testing continues as College Board scraps at-home version
The College Board announced this week that students will test at designated centers this fall, tabling its at-home testing plan requiring “three hours of uninterrupted, video-quality internet” access. Member colleges have been asked to be flexible for students not able to submit scores as pandemic-driven uncertainty around the 2019-2020 academic year continues.
5 Largest U.S. theater chain says it may not survive the pandemic
Movie theater chain AMC reported Wednesday that it had cash reserves to reopen for the summer but varying restrictions on reopening, film delays and consumer fears cast doubt on its ability to continue over time.