Markets
More than 4000 PPP loans approved in state during second round
The U.S. Small Business Administration has processed over 3.8 million loans for more than half a trillion dollars since the launch of the Paycheck Protection Program on April 3 to deal with the economic fallout of the coronavirus outbreak, according to a joint statement by the SBA and the Treasury Department. [Full Article...]
More than 140,000 businesses apply for Coronavirus Job Retention Scheme
Under the furlough scheme , the United Kingdom government will cover 80% of the wages of employees, up to a maximum of £2,500 (US$3,118) a month. "But employers can claim any time over the few days, between now and Wednesday, and we will have the money in their bank account by April 30". [Full Article...]
Tesla applies to become United Kingdom energy supplier
After looking at the number of projects and achievements, the claim seems like an actual possibility. To this date, it has only been put to the test at Tesla's Hornsdale Power Reserve in Australia. Tesla developed Autobidder to function as a real-time trading and control platform that enables power producers to monetize their battery assets. Autobidder is a real-time trading platform that is... [Full Article...]
J Crew files for bankruptcy protection | Venture
Sales at stores and restaurants plunged in March by the largest amount on records that date back to 1992. Department store chains including Sears and JC Penney - long seen as bellwethers of United States retail - have been struggling to survive in recent years, with clothing sales falling particularly sharply. [Full Article...]
Carnival Cruise Line rolls out plan to start service on August 1
Generally speaking, the "big three" cruise lines (Carnival, Royal Caribbean and Norwegian) tend to act in tandem when it comes to sweeping policies, and Carnival Cruise Line announced today its plan to phase in a resumption in our North American service this summer, beginning on August 1 with a total of eight ships from Miami , Port Canaveral and Galveston . [Full Article...]
Oil prices rise on U.S.-China trade tension
Worldwide fuel demand fell by an estimated 30% in April largely due to stay-at-home orders, and weak consumption is expected to overhang the crude market for months, even as major world oil-producing nations and companies quickly reduce output. [Full Article...]
Cuomo says coronavirus deaths in NY remain obnoxious and terrifyingly high
This has deprived countless homeless people of a place to sleep and Cuomo and Mayor Bill de Blasio have committed to providing "safe haven" beds for hundreds of homeless New Yorks. But as governors across the United States planned to partially reopen their states this weekend, Mr Cuomo said such action would be premature in the NY. [Full Article...]
Massachusetts Walmart forced to close after 23 workers got coronavirus
All 391 employees were tested for the virus since the store closed on Wednesday and 81 workers tested positive, up from 23 earlier in the week, officials said. Walmart has now fulfilled the requirements set forth by the city when it closed the store. Initial plans called for reopening the store on Friday, but the company is working with Worcester officials to ensure that all the necessary steps ... [Full Article...]