The U.S. Transportation Department on Friday issued a notice to airlines reminding them they are obligated to refund tickets when they cancel a flight or make a significant flight schedule change that passengers opt not to accept, but will not take any immediate action against airlines.
U.S. President Donald Trump on Friday signed an order directing his administration to stop N-95 face masks and other personal protective equipment needed in the fight against the coronavirus pandemic from being exported to other countries.
(Bloomberg) — Teddy Kramer worked at WeWork from 2013 to 2015. When he left the company, he had been a director of new market development, helping the co-working startup open new offices in different regions. He’d put in the time and been granted shares in the company. At first, he thought he might be able to sell them after WeWork’s much-anticipated initial public offering in September, but the IPO attempt flopped.As a backup option, Kramer and other current and ex-WeWork staff were told they would be able to sell their shares to SoftBank Group Corp. in a deal set to …read more […]
NEW YORK (LPC) – General Motors Co (GM) will seek to extend maturities on US$6bn in revolving loans rather than refinance a US$16.5bn credit facility following discussions with its bank group during an unprecedented health crisis in the US.
Warren Buffett’s Berkshire Hathaway Inc said on Friday it sold about 18% of its stake in Delta Air Lines Inc and 4% of its holdings in Southwest Airlines Co this week, as the coronavirus pandemic drives the airline industry into perhaps its biggest crisis ever.
OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, while also waiting to see what action the United States would take as U.S. President Donald Trump met with oil companies on Friday at the White House.
Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the U.S. government’s $349 billion small business bailout fund, which officially launched in the morning.
Mexicans fretted about beer supplies on Friday after Dutch brewer Heineken said it will suspend production at its seven plants in Mexico to comply with coronavirus containment measures, following a similar announcement by rival Modelo.
Walmart to limit the number of shoppers as part of its response to the coronavirus pandemic starting Saturday, April 4, to promote social distancing. …read more […]
Sometimes Christmas comes earlier than expected. 2020 might prove to be that type of year, just like 2009 was, more than a decade ago.
But don’t get me wrong. We still have a long way to go before there can be any type of celebration. It will probably take a year, at the earliest, before the economy turns around.
So until then, we must be ready for volatility.
However, the stock market is forward-looking, and the “rally” in stocks will happen well before there’s any recovery in the economy. That’s why you must have your shopping list ready now and be ready to …read more […]
The U.S. economy actually lost jobs on Friday, after a decade of gains, and the employment situation will likely only get bleaker as the nation remains closed for business to stem the spread of the deadly new coronavirus. …read more […]
Questions are building about whether big U.S. banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans.
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