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(Reuters) - Black-owned U.S. businesses have failed at a disproportionately higher rate than those owned by whites during the coronavirus epidemic possibly because they were in poorer financial shape, less prepared to tap federal aid and faced longer closures, the New York Federal Reserve said on Tuesday. The Federal Reserve Bank of New York is pictured in the Manhattan borough of New York City, New York, U.S., October 4, 2019. REUTERS/Carlo Allegri. Many Black-owned businesses were already in a tough financial spot when the crisis hit, and were less equipped to outlast the prolonged business closures seen in areas with high infection rates, the New York Fed said in a report. “These firm... Full story

4 August