ECONOMY

Pandemic Upends World's 2 Largest Economies

5:37pm May 16, 2020

by Jackie Northam

The coronavirus has crushed both the U.S. and China economies. Whichever emerges in better shape at the end of the pandemic might shape how global power shifts, perhaps for many decades to come.

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Pier Fries in Old Orchard Beach, Maine, was open and serving recently, but a few restaurants have announced they will close permanently.

Maine's Seasonal Businesses Feeling Economic Effects Of The Coronavirus

7:01am May 16, 2020

by Fred Bever

Maine's economy relies heavily on summer tourism. With Memorial Day around the corner, many business owners are figuring out when and whether they'll be allowed to reopen.

What Happened Today: President Trump Outlines New Vaccine Plan, Economy Questions

9:30pm May 15, 2020

Wall Street Journal chief economics commentator Greg Ip updates listeners on the state of the U.S. economy during the pandemic and answers their questions.

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The remains of a J.C. Penney store are seen at an abandoned shopping mall in North Carolina. The department store chain is filing for bankruptcy as coronavirus lockdowns shatter its plans for recovery.

Economy

J.C. Penney Files For Bankruptcy As Lockdowns Take Their Toll

9:07pm May 15, 2020

by Alina Selyukh

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.

Economy

Hello, and Welcome to Planet Money

8:38pm May 15, 2020

For our 1,000th episode: a (very) short list of listener favorites! that, if you just started listening, also does a good job introducing what we try to do every week. Thanks for listening!

A restaurant in Ohio, Taste of Belgium, seats customers outside as businesses begin to reopen in the wake of the coronavirus pandemic on Friday.

In The Midwest, Reopening Looks Different State By State, Even City By City

6:52pm May 15, 2020

by Ari Shapiro

As the country begins to lift stay-at-home orders, nowhere is the messy patchwork of timelines and rules more pronounced than in the Midwest. Businesses and customers are navigating a confusing maze.

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Cynthia Murray's hours at Walmart had already been cut and she was worried about her health in the pandemic. After a customer shouted at her, she decided to go on unpaid leave.

Economy

For This Walmart Employee, An Angry Customer Was The Last Straw

3:30pm May 15, 2020

by Alina Selyukh

Cynthia Murray's hours had already been cut and she was worried about her health in the pandemic. Then a man shouted at her. "I just really felt uncomfortable," she says. So she went on unpaid leave.

A farmer leads dairy cows from the pasture to the milking barn at a creamery in Gallipolis, Ohio. The USDA launched a $3 billion plan to distribute food to families, called the Farmers to Family Food Box Program.

USDA Secretary Says Despite Plant Closures, He Does Not Anticipate Food Shortages

1:56pm May 15, 2020

by Steve Inskeep

Sonny Perdue says he expects "85-90% 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.

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Tables and chairs stand empty Friday outside a restaurant in Dresden, Germany, as the country now faces a recession.

Germany, Europe's Largest Economy, Enters Recession Due To Coronavirus

12:34pm May 15, 2020

by Rob Schmitz

Germany has seen its biggest quarterly contraction since 2009 when the global financial crisis ravaged the country's economy. Economists expect an even deeper slump in the second quarter.

Retail Spending Plummets As Coronavirus Crisis Freezes Economy

Pandemic Hits Spending Hard; 79% Dive In Clothing Sales Leads A Record Plunge

10:46am May 15, 2020

by Alina Selyukh

Retail sales saw record drops for the second month in a row. Other categories with huge declines included a 59% dive in furniture sales and 29% decreases in department stores and gas stations.

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