Fed caps banks’ dividends, orders suspension of share buybacks
The Federal Reserve has put a cap on the amount of dividends banks can pay their shareholders and has ordered them to suspend their stock repurchase programs. Ken Sweet reported the news for the AP: A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to […]
Bayer agrees to pay $10 bln to settle Roundup lawsuits
Chemicals giant Bayer has agreed to pay more than $10 billion to settle several thousand lawsuits claiming herbicide Roundup causes cancer. Doha Madani reported the news for CNBC: Bayer will pay more than $10 billion to resolve thousands of lawsuits regarding claims that its herbicide Roundup causes cancer, the company announced Wednesday. Monsanto, which Bayer […]
Talking Biz News Today — June 25, 2020
Some of Thursday’s top business news stories: Associated Press Bayer paying up to $10.9B to settle Monsanto weedkiller case Virus pummels commercial real estate, could end long boom, by Joyce M. Rosenberg, Ken Sweet CNN An alarming number of people are complaining about their Citi credit card accounts, by Matt Egan CrossFit founder Greg Glassman […]
Talking Biz News Today — June 24, 2020
Some of Wednesday’s top business news stories: Associated Press US new home sales rise surprisingly strong 16.6% in May, by Martin Crutsinger Pubs, restaurants in England to reopen as virus toll eases, by Jill Lawless, Danica Kirka CNN The Segway is officially over, by Matt McFarland Companies are reassessing their supply chains. But that might […]
Amazon launches $2-bln clean energy fund
Amazon has set up an investment fund worth $2 billion to focus exclusively on clean energy projects. Business Insider reported: Amazon is injecting $2 billion into a new venture capital fund focused on a carbon-free future, the e-commerce giant said Tuesday, while accelerating its timeline for being powered completely by renewable energy. The project “will […]
Wirecard says missing billions never existed
Fintech Wirecard has said the some $2.1 billion it booked into its accounts likely never existed. Patricia Uhlig, Karen Lema, and John O’Donnell reported the news for Reuters: Wirecard said on Monday that 1.9 billion euros ($2.1 billion) it had booked in its accounts likely never existed, a black hole that threatens to engulf the […]
Talking Biz News Today — June 23, 2020
Some of Tuesday’s top business news stories: Associated Press Businesses in survival mode raise cash; commodities take off Existing home sale plunge 9.7% in 3rd straight monthly drop, by Martin Crutsinger CNN Tech companies slam Trump’s executive order restricting work visas, by Rishi Iyengar, Brian Fung These are the companies that say they’ll boycott Facebook […]
Talking Biz News Today — June 22, 2020
Some of Monday’s top business news stories: Associated Press Hit hard by virus, fine dining finds new ways to serve, by Dee-Ann Durbin Firearms sales on the rise, more travel bans eased CNN US faces ‘avalanche of evictions’ as rent protections expire, by Vanessa Yurkevich These companies laid off thousands of employees this week, by […]
Google loses data protection case appeal
Google has lost an appeal against France, which fined the tech giant $56 million for failing to be transparent with Android users about their data protection. The AP reported the news: France’s highest administrative court has upheld a fine of 50 million euros ($56 million) Google was ordered to pay for not being “sufficiently clear […]
House Democrats propose $1.5-trillion infrastructure bill
House Democrats yesterday presented a bill that calls for $1.5 trillion in new infrastructure investment made urgent by the pandemic. Richard Cowan had the news for Reuters: U.S. House of Representatives Democrats on Thursday unveiled a $1.5 trillion infrastructure bill that they will seek to pass in coming weeks, arguing it has been made more […]
