Amid confusion over a $349 billion rescue program for small businesses struggling to survive the coronavirus pandemic, the U.S. Treasury released guidelines it hopes will pave the way to getting the spigots flowing on Friday, as promised.
(Bloomberg) — Oil slipped below $25 a barrel following a record surge as doubts crept in over U.S. President Donald Trump’s claim he had brokered a deal that would see deep supply cuts from Saudi Arabia and Russia.Futures advanced almost 25% in New York on Thursday after Trump tweeted that he expected the two leading producers to slash output by 10 million barrels or more. However, the Kremlin later said that President Vladimir Putin had not spoken to his Saudi counterpart and hasn’t agreed to reduce production. Citigroup Inc. said any deal was too little, too late.See also: Trump’s Push …read more […]
U.S. Treasury Secretary Steven Mnuchin said he was pressing ahead with the Friday launch of a $349 billion coronavirus rescue loan program for small businesses despite confusion over last-minute final rules and lenders unprepared to approve applications.
Recent negotiations involving leaders from OPEC nations and the United States will prove irrelevant for oil prices, which are low because of depressed demand, the chief executive of Brazil’s Petrobras said on Thursday evening.
Asian markets on Friday looked to latch onto Wall Street’s overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global recession.
‘[If] you are an entrepreneur, if you’re a small business operator, you need to be cognizant and you need to apply ASAP,’ Mark Cuban says. …read more […]
United Airlines is losing more than $100 million in revenue per day and making plans to reduce payroll expenses and permanently retire some older mainline and 50-seat regional aircraft if air travel demand does not return later this year, President Scott Kirby told employees Thursday in a town hall meeting. “While we all think that […] …read more […]
Bed Bath & Beyond Inc has asked a judge to hold 1-800-Flowers.Com Inc to a $252 million deal between the companies in what appears to one of the first examples of a corporate sale coming unraveled due to the coronavirus pandemic.
U.S. stocks rallied on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output drove gains, taking some sting out of a shocking jump in Americans filing jobless claims due to coronavirus-led lockdowns.
American Airlines Co said on Thursday it is cutting additional flights this summer as travel demand has drastically shrunk amid the coronavirus pandemic.
For reasons that I still don’t entirely understand, when I turned 40, I decided that I would become a runner.
Not a casual runner. Not running just to get some exercise.
I didn’t even want to run just a marathon.
My goal was to become an ultramarathoner. Ultramarathons are races that are longer than a marathon (typically 50 kilometers or longer) and take place over difficult terrain.
Here I am at one of the best moments of my life, receiving my finisher Lost Soul “rock” for completing 100 kilometers. My kids were actually proud of me!
It is an absurd hobby. I’ve done six so …read more […]
A full airline industry recovery from the coronavirus looks prolonged at best, analysts said, as new data showed international seat capacity had fallen to 23% of last year’s levels and around half the world’s airplane fleet is in storage.
The Federal Communications Commission on Thursday proposed to fine TracFone Wireless $6 million for allegedly violating its rules governing the subsidy program for telecommunications services for low income users.
(Bloomberg) — Asian stocks looked poised to open higher following a volatile session in the U.S., with oil producers well supported after President Donald Trump said Russia and Saudi Arabia would cut production.The S&P 500 closed up 2.3% with energy shares the best performers, while consumer discretionary stocks lagged after jobless claims doubled from last week to 6.6 million. Futures in Japan climbed, Australian shares opened higher and U.S. contracts were little changed in Asia. Treasuries retreated Thursday amid a slew of corporate supply. West Texas crude slipped back below $25 a barrel after surging 22% on Thursday — an …read more […]
Less than two months after settling with New York City regulators over paid sick leave, Chipotle Mexican Grill Inc is under pressure for its policies amid the coronavirus pandemic.
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