The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to use its “full range of tools” to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only slam growth in the near term but pose “considerable risks” in the medium term as well.
Chesapeake Energy Corp , the oil and gas exploration and production company that was at the forefront of the past decade’s U.S. shale boom, is preparing a potential bankruptcy filing as it grapples with an unprecedented rout in energy prices, people familiar with the matter said on Wednesday.
The Oklahoma City-based company, cofounded by late wildcatter and outspoken natural gas proponent Aubrey McClendon, has held discussions with creditors about a possible loan that would aid operations while it navigates bankruptcy proceedings, the sources said. The loan could total roughly $1 billion, though its size remains in flux, one of the sources added. Such loans, referred to as debtor-in-possession financing, are key to companies seeking Chapter 11 bankruptcy protection because they help them sustain as much of their business as possible during court proceedings. …read more […]
Several of Amazon.com Inc’s foreign websites have been added to the U.S. trade regulator’s “Notorious Markets” report on marketplaces known for counterfeiting and piracy concerns.
World stock markets surged on Wednesday following encouraging news for an experimental COVID-19 treatment and some positive earnings reports, while beaten-up oil prices soared.
Hertz, whose Hertz Corp subsidiary operates the Hertz, Dollar and Thrifty rental brands, said in a regulatory filing that it had suffered a “sudden and dramatic negative impact” on its business due to the coronavirus pandemic, which has crushed demand for rental cars as people cancel travel and stay at home. Hertz’s shares were trading at roughly $3.71 on Wednesday, down about 20% on the day and down around 80% from late February. Billionaire Carl Icahn owns 38.9% of Hertz. …read more […]
Hertz Global Holdings Inc said on Wednesday it was in talks with its lenders to avoid defaulting on debt related to its rental vehicle fleet, after skipping a payment that was due April 27.
No company’s stock market value has benefited more from the coronavirus pandemic than Amazon.com’s.
FaceBank Group, Inc. d/b/a fuboTV [OTCQB:FBNK] CEO David Gandler was featured in a discussion led by Michael Pachter, Managing Director of Digital Media Equity Research at Wedbush Securities, to dive deeper into trends around cord-cutting, […]
Contract Revenue is $300,000USD Plus 5 Year Management Program Revenue Fees VANCOUVER and ERIE, PA, April 29, 2020 – Imagine AR Inc. (IP:CSE) (IPNFF:OTCQB) (“ImagineAR” or “Company”) is pleased to announce the signing of a […]
Federal Reserve policymakers on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the economy, saying the ongoing coronavirus pandemic will “weigh heavily” on the near-term outlook and poses “considerable risks” for the medium term.
The Federal Reserve on Wednesday left interest rates near zero and repeated a vow to do what it takes to shore up the U.S. economy amid an ongoing coronavirus pandemic that will not only “weigh heavily” on the near-term outlook but poses “considerable risks” for the medium term as well.
Boeing Co said on Wednesday it would cut its 160,000-person workforce by about 10%, further reduce 787 Dreamliner production and try to boost liquidity as it prepares for a years-long industry recovery from the coronavirus pandemic that drove its second consecutive quarterly loss.
Wall Street stock indexes surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors look past bleak economic data.
Volkswagen AG said Wednesday it is indefinitely delaying the resumption of production at its Tennessee assembly plant that had been set to restart on May 3.
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