Business & Finance News
U.S. banks are pushing the Federal Reserve to change the terms of a $600 billion lending program for small and medium-sized businesses, including reducing minimum loan sizes and allowing more flexibility on underlying reference rates, industry groups said.
Amazon.com Inc has started to use thermal cameras at its warehouses to speed up screening for feverish workers who could be infected with the coronavirus, employees told Reuters.
Dwindling supplies of carbon dioxide from ethanol plants is sparking concern about shortages of beer, soda and seltzer water – essentials for many quarantined Americans.
Netflix Inc has increased the amount of money in its coronavirus emergency relief fund by $50 million, bringing the total for displaced production workers to $150 million, a company spokeswoman said on Friday.
The Federal Reserve responded rapidly to stem losses from a “synchronized global sell-off” to help markets function as investors fled to safety on worries about the coronavirus outbreak, a senior official at the New York Fed said on Friday.
The Federal Reserve is moving as quickly as possible to set up new emergency lending facilities to support credit markets and the economy, and its efforts are already helping to stabilize short-term funding markets, said Daleep Singh, head of the markets group at the New York Fed.
A U.S. judge on Friday put on hold a suit by Amazon.com Inc challenging the Pentagon’s decision to award a $10 billion contract to Microsoft Corp .
Occidental Petroleum shareholders next month will get their first say on the oil company’s troubled acquisition of Anadarko Petroleum when they vote on issuing shares and warrants to Berkshire Hathaway for helping finance the $38 billion deal.
Norwegian Cruise Line Holdings Ltd has hired investment bank Goldman Sachs Group Inc to explore financing options that could include the sale of a stake in the company, people familiar with the matter said on Friday.
Over two frantic weeks, the U.S. government pledged $350 billion to Main Street businesses across America desperate for cash after coronavirus lockdowns.
Ford Motor Co on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the coronavirus outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter.
An official charged with overseeing how the U.S. government handles $500 billion in bailout funds said on Friday he will also monitor how companies use the cash, including for share buybacks, dividends and staff compensation.
Virgin Atlantic has been told to resubmit its proposal for a 500 million pound ($625.35 million) coronavirus bailout package after the UK government was left unimpressed with its initial bid, Financial Times reported (https://on.ft.com/2xD3Ee5) on Friday.
U.S. stocks rose on Friday and also posted gains for the week, boosted by a surge in Boeing shares, President Donald Trump’s plan to reopen the coronavirus-battered economy and hopes of a potential drug by Gilead to treat COVID-19.
Global stocks rallied on Friday on President Donald Trump’s plans to revive the coronavirus-hit U.S. economy and a report about a clinical trial for a potential drug to treat COVID-19, while the dollar fell amid investors’ growing risk-on sentiment.
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