(Bloomberg) -- President Donald Trump questioned whether the federal government should provide financial assistance to “poorly run” states led by Democrats on Monday, again framing the U.S. response to the coronavirus outbreak in partisan terms.Trump appeared to align himself with Senate Majority Leader Mitch McConnell, who has said Congress shouldn’t debate relief to cash-strapped states until legislators reconvene in May. The Kentucky Republican has suggested states with large pension obligations under union contracts should be forced into bankruptcy instead of receiving federal aid.Many Democrats and some Republicans have criticized McConnell’s bankruptcy proposal, arguing such a move would have far-reaching and disastrous financial consequences for the country. Democrats say federal aid for states and local governments must be part of the next round of coronavirus-related stimulus.New York Representative Peter King, a Republican, called McConnell the “Marie Antoinette of the Senate” for his seeming indifference to the plight of local governments, including in...
Apple is set to delay its mass production of flagship iPhones to a later date this year over coronavirus concerns. Yahoo Finance’s Dan Howley shares the details....
Airbus will furlough around 3,200 staff at its Broughton factory in Wales, the European planemaker said on Monday after it warned staff that the coronavirus crisis had put its survival at stake. Airbus has given its starkest assessment yet of damage from the crisis, telling the company's 135,000 employees to brace for potentially deeper job cuts as it grapples with the impact of the COVID-19 pandemic on the aerospace sector. "Airbus confirms it has agreed with its social partners to apply the government's Job Retention Scheme for approximately 3,200 production and production-support employees at its commercial aircraft site in Broughton," it said in a statement....
