Year: 2020

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Exclusive: U.S. accuses China of blocking U.S. flights, demands action

May 23, 2020 admin Comments Off on Exclusive: U.S. accuses China of blocking U.S. flights, demands action

The U.S. government late on Friday accused the Chinese government of making it impossible for U.S. airlines to resume service to China and ordered four Chinese air carriers to file flight schedules with the U.S. government. The administration of President Donald Trump stopped short of imposing restrictions on Chinese air carriers but said talks with China had failed to produce an agreement. The U.S. Transportation Department, which is trying to persuade China to allow the resumption of U.S. passenger airline service there, earlier this week briefly delayed a few Chinese charter flights for not complying with notice requirements. …read more […]

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Hertz Files for Bankruptcy After Rental-Car Demand Vanishes

May 23, 2020 admin Comments Off on Hertz Files for Bankruptcy After Rental-Car Demand Vanishes

(Bloomberg) — Hertz Global Holdings Inc. filed for bankruptcy in Delaware after sweeping travel restrictions and the global economic collapse destroyed demand for its rental cars.The Chapter 11 filing allows the company to keep operating while it devises a plan to pay its creditors and turn around the business. The second-largest U.S car-rental company began laying off workers to preserve cash in March as emergency measures to contain the coronavirus halted business and leisure travel. Hertz disclosed on April 29 that it had missed substantial lease payments related to its rental cars. It named a new chief executive officer in …read more […]

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U.S. charges ousted Hollywood executive with defrauding pandemic loan program, BlackRock fund

May 23, 2020 admin Comments Off on U.S. charges ousted Hollywood executive with defrauding pandemic loan program, BlackRock fund

U.S. prosecutors have charged the recently ousted owner of a Hollywood movie distributor with defrauding a federal coronavirus emergency relief program and a BlackRock Inc investment fund, including to pay for a Beverly Hills mansion and other luxuries.

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Hertz preparing to file for bankruptcy as soon as Friday night: WSJ

May 22, 2020 admin Comments Off on Hertz preparing to file for bankruptcy as soon as Friday night: WSJ

The company, which operates the Hertz, Dollar and Thrifty car-rental brands, had been holding talks with creditors after missing significant car-lease payments in April. Forbearance and waiver agreements on the missed payments were set to expire on Friday. Hertz did not immediately respond to a request for comment. …read more […]