The U.S. government's $660 billion small business rescue program has stumbled on missing paperwork, technology failure, and the misdirection of funds to big corporations. Now, it is lurching toward another hurdle: forgiving those hastily arranged loans.
World stocks pulled back further on Friday on grim U.S. economic data and President Donald Trump's threat to impose new tariffs on China over the coronavirus crisis.
Exxon Mobil Corp and Chevron Corp are slamming the brakes on U.S. shale oil production at a time when crude prices and fuel demand have plunged due to global lockdowns to fight the coronavirus pandemic.
A decline on Wall Street dragged stocks across the world further down on Friday on concerns that the two largest economies could resume a trade war, with many financial markets globally closed for a holiday.
A half-hour staff meeting in a secure location.
AltFi | Aisling Finn | Apr 29, 2020 The fintech is also on the hunt for a UK Chairperson to help secure a UK banking licence, despite the constant movement at the top. Digital banking service Revolut has lost eight top employees since the middle of March this year, although the departures are not linked
Shares of Tesla Inc tumbled 10% on Friday following a tweet from Chief Executive Elon Musk's Twitter account that the electric car maker's recently high-flying stock is overly expensive.
McDonald's Corp said it would reopen 15 restaurants in the United Kingdom this month, only for delivery, leaving some fast food fans cheering.
Wall Street's main indexes fell on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while a profit warning from Amazon added to the gloom.
"There's all these downstream issues that really haven't been addressed yet," the Dallas Mavericks owner and "Shark Tank" investor told CNBC on Friday.
JPMorgan Chase & Co said on Friday that it received government approval to process roughly $15 billion in loans through the Small Business Administration's Paycheck Protection Program, bringing its total number of funded loans through the program to about $29 billion.
Many people who receive government benefits got an unwelcome surprise this week when they got less money than they expected in their federal stimulus checks. The problem: Children under 17 were excluded from the $500 payments due to them. Now families are asking why.
Berkshire's cash pile has left investors wondering whether Warren Buffett has found some attractive investments after the market's record plunge.
Spain's Telefonica SA is in talks with billionaire John Malone's Liberty Global Plc to explore a merger of its British mobile operator O2 with Liberty's Virgin Media cable network company, two sources familiar with the matter said.
After rolling out trillions of dollars in support for the U.S. economy during the coronavirus pandemic, Federal Reserve officials have begun warning of potentially lasting scars to the workforce and productivity if the recovery is not handled well.