Coronavirus updates: Scientists call on WHO to recognize airborne threat; India’s cases surpass Russia’s

Coronavirus updates: Scientists call on WHO to recognize airborne threat; India’s cases surpass Russia’s

Companies returned $30 billion in Paycheck Protection Program loans

Companies have returned or canceled more than $30 billion in loans approved through the government's emergency Paycheck Protection Program, a senior administration official said.

The multibillion-dollar sum shows that the vast majority of the returned funds came from private companies; public companies have only returned $430 million, according to data analytics firm FactSquared.

The Small Business Administration also reported a partial list of the companies that received the PPP relief loans through June 30. President Trump on Saturday extended the deadline to apply to the PPP through Aug. 8. “”Tom Franck

Goldman cuts Q2 growth outlook amid virus resurgence

David Solomon, the CEO of Goldman Sachs, speaks during the Bloomberg Global Business Forum in New York, September 25, 2019.

Shannon Stapleton | Reuters

Goldman Sachs has lowered its second-quarter gross domestic product forecast as several states slow their reopenings due to coronavirus spikes. The bank cut its growth outlook to 25% from 33%, still easily the fastest quarterly gain since at least 1947.

GDP dropped 5% in the second quarter but is expected to rebound amid record-breaking monthly payroll growth, and a return in manufacturing and building. However, coronavirus cases in the U.S. spiked 13.4% over