Treasury to provide automatic stimulus cash to Social Security Recipients

The Treasury Department and Internal Revenue Service reversed their stance late Wednesday that Social Security beneficiaries would need to file tax returns in order to receive direct cash assistance payments under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Treasury will now provide automatic coronavirus relief payments for Social Security beneficiaries. “Social Security recipients…

Ford and GE Team up to build Ventilators

The U.S. is short of ventilators. It’s something American manufactures aim to change—rapidly. It is a modern day “Arsenal of Democracy.” Ford Motor (ticker: F) and General Electric (GE) are partnering to build ventilators in a new venture announced Monday. Production “will start the week of April 20,” a Ford representative said on a Monday afternoon media call. Ford…

Fake COVID-19 apps can load ransomware, spyware on devices

Security and tech experts have warned that hackers are now resorting to emails and apps claiming to provide information on the COVID-19 outbreak to fool victims into installing malware on their devices. According to information security provider ZScaler, hackers have been preying on people’s fears of the coronavirus by creating apps with features too good…

Forgo 401k Early-Withdrawal Penalty

Calls for fiscal relief involving 401ks are growing louder, with The Wall Street Journal joining the American Retirement Association and Empower Retirement in arguing for penalty-free—and in some cases tax-free—withdrawals to combat the coronavirus crisis. “As the coronavirus threatens to stall the U.S. economy, a relatively easy countermeasure is to hit the emergency 401k button: Congress should allow people to take…

How Life and Health Stocks Did Today

Insurance investors delivered a clear verdict today: They’re a bit worried about how a severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) epidemic might affect health insurers, but they hate how interest rate cuts might affect life insurers. The stock market as a whole had a terrible today, with the S&P 500 benchmark index falling 7.6%, based in…