Here's who is paying for the $659 billion in PPP loans

Cycling through COVID-19 outbreak: Challenges for Tour de France

The French government hopes that a successful Tour de France will prove that life goes on despite the coronavirus pandemic.

French President Emmanuel Macron is heading to the Alps on Wednesday as cyclists taking part in the Tour de France climb the region’s mountains.

As coronavirus infection rates keep rising, it is being seen as an attempt to reassure the public.

The famous cycle race was postponed from July and is taking place under a strict sanitary protocol.

Al Jazeera’s Natacha Butler reports from Villard-de-Lans, France.

Pakistan religious kidnappings: PM calls for end of practice

Al Jazeera meets families of girls kidnapped in Pakistan who are forced to marry and convert to Islam.

More than 1,000 girls in Pakistan are kidnapped every year, forced to marry and convert to Islam.

Prime Minister Imran Khan says the practice must stop. And a parliamentary committee wants a law to stamp it out.

Al Jazeera’s Charles Stratford reports.

South America's Libertadores Cup resumes with new rules

Football action resumes on the continent after a six-month suspension because of the coronavirus pandemic.

South America’s main football competition, Copa Libertadores or the Libertadores Cup, has resumed after a six-month suspension due to the coronavirus pandemic.

Restrictions have been introduced to allow the games to go ahead, as the virus continues to cause havoc across the region.

Al Jazeera’s Daniel Schweimler reports from Buenos Aires, Argentina.

European Economics Preview: UK Consumer Price Data Due

Consumer and producer prices from the UK are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is set to publish UK consumer and producer prices for August. Inflation is forecast to ease to 0.1 percent from 1 percent in July.

Economists forecast UK output prices to fall 0.7 percent annually, following a 0.9 percent decline a month ago. Likewise, the decline in input prices is expected to slow to 4.9 percent from 5.7 percent.

At 3.00 am ET, the Czech Statistical Office issues producer prices for August. Prices are expected to drop 0.1 percent on year.

At 4.30 am ET, the Office for National Statistics releases UK house price data for June.

Half an hour later, Eurostat publishes external trade data for July. The euro area trade surplus is seen at EUR 12.6 billion versus EUR 21.2 billion in June.

ATTN: Debuts Get Out The Vote Video With Barack Obama

Barack Obama appears in a new get out the vote video that premiered on Wednesday on ATTN:, aimed at getting Gen Z and millennial voters to register and turn out.

“Register, vote as early as you can, and do whatever you can to make sure your voice is heard in this election,” Obama said.

Obama tweeted out the video, which links to the Vote Save America page.

As with many a GOTV video, Obama also sprinkles the video with some humor. “Now that we are done with that, do you want to see my renegade?” he says at the end.

Southwest Airlines trims cash burn, will keep middle seats open through November

  • Southwest said its October capacity will likely fall 40 to 45% in October and 35% to 40% in November.
  • The low-cost carrier will keep middle seats open until the end of November for travelers not flying together.
  • The Dallas-based airline trimmed its cash-burn estimate for the third quarter to $17 million a day from an earlier estimate of $20 million.

Southwest Airlines on Wednesday said it has logged a "modest" improvement in bookings through October, helping it trim its daily cash burn estimate for this quarter by $3 million to an expected $17 million.

Despite the uptick in bookings, the Dallas-based airline expects revenue to drop 65% to 75% in October and capacity down 40% to 50% from the same month last year as the coronavirus pandemic continues to hurt travel demand. It forecast November capacity to drop 35% to 40% from 2019.

Southwest said it would extend a policy that leaves middle seats open on its flights, except for travelers in the same party, through the end of November, an effort to calm travelers nervous about flying in a pandemic and better compete at the start of the end-of-year holidays. Delta Air Lines, for example, last month said it would limit capacity on flights through Jan. 6.

Southwest shares were little changed in morning trading.

Here's who is paying for the $659 billion in PPP loans

More than 51 million U.S. workers can thank the Paycheck Protection Program for helping provide a portion of their wages during the coronavirus shutdown. 

The $659 billion program, authorized under the CARES Act, let small businesses take out loans to stay afloat and keep workers on the payroll. Even better, some or all of the loan may be forgiven if the businesses meet certain requirements. 

The process to get a PPP loan was pretty straightforward: Business owners went to their bank and applied for a loan to keep the doors open. 

But behind the scenes, the lending process involved a few extra steps, according to Sahil Bloom, a financial educator and vice president at Altamont Capital Partners. 

Check out this video to see the steps the government took to get money to businesses around the country.  

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.