Meanwhile, the Fed continues to fire up its presses and print as much money as it needs to shore up the economy. What would you rather own? Something scarce or something abundant? This is actually the core reason for gold’s strength. …read more […]
While it’s a bullish start to the day, failure to break through to key levels could lead to a reversal… …read more […]
Boeing Co has hired investment banks Lazard and Evercore Inc to assess potential U.S. government assistance or private sector loans, a person briefed on the matter confirmed on Friday. “We’re going to be meeting with Boeing,” President Donald Trump told reporters on Friday. “Boeing has not asked for aid yet but I think they probably will… We can’t let anything happen to Boeing.” …read more […]
Honeywell International Inc said on Friday it had renewed a revolving credit agreement for $1.5 billion, to be used for general corporate purposes when needed.
U.S. aero parts maker Triumph Group Inc said it was furloughing about 2,300 employees across its U.S. and European plants for two to four weeks to cut capacity linked to Boeing commercial aircraft programs amid the coronavirus outbreak.
U.S. Treasury Secretary Steven Mnuchin told major airlines on Friday he wants them to repay some of the $25 billion in cash grants the U.S. Congress approved last month to cover payroll costs as airlines weather an unprecedented crisis due to the coronavirus, three industry officials briefed on the matter told Reuters.
U.S. Treasury Secretary Steven Mnuchin told major airlines on Friday he wants them to repay some of the $25 billion in cash grants the U.S. Congress approved last month to cover payroll costs as airlines weather an unprecedented crisis due to the coronavirus, three industry officials briefed on the matter told Reuters.
(Bloomberg) — Airlines receiving $100 million or less in payroll assistance from the U.S. government won’t need to provide a financial stake in exchange, the Treasury Department said as it began sending offers to the beleaguered carriers.“This determination will provide significant support to workers and businesses across the country, while also appropriately compensating taxpayers,” Treasury Secretary Steven Mnuchin said in a statement on Friday evening.The agency said it had received 230 applications for aid from passenger carriers. It is working with 12 that would get more than $100 million and is discussing what sort of financial instruments it will require …read more […]
The United States has approved 661,000 loans to small businesses totaling $168 billion under a program to address the fallout from the novel coronavirus epidemic, White House economic adviser Larry Kudlow said on Friday.
Top oil nations struggled to finalise record output cuts at G20 talks on Friday to boost prices slammed by the coronavirus crisis, as Saudi Arabia clashed with Mexico despite U.S. President Donald Trump’s mediation offer.
Saudi Arabia’s Crown Prince and Russian President Vladimir Putin reviewed in a telephone conversation on Friday the efforts to achieve stability of energy markets to support the growth of the global economy, Saudi state news agency (SPA) reported.
Saudi Arabia and other oil producers in the OPEC+ group pushed back on Friday on a Mexican plan to cut less than requested under plans for global supply curbs, two sources from the OPEC+ group said on Friday.
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