Treasury distributes $2.9 bln among airlines
The Treasury Department has given airlines a lifeline of $2.9 billion to prevent job cuts. Saleha Mohsin reported the news for Bloomberg: The U.S. Treasury Department disbursed $2.9 billion to passenger airlines in the first round of payroll assistance to an industry suffering financially from a pandemic-induced shutdown. Six airlines including American Airlines Group Inc., […]
Shake Shack will return small business loan
Burger chain Shake Shack will return the $10-million loan it was granted under the Paycheck Protection Program. Aakriti Bhalla reported the news for Reuters: Shake Shack Inc (SHAK.N) will return the small business loan it received from the U.S. government, the burger chain’s chief executive said on Monday, making it the first major firm to […]
Talking Biz News Today — April 18, 2020
Some of Monday’s top business news stories: Associated Press Sparkling waters hide some lasting harm from 2010 oil spill, by Janet McConnaughey, Rebecca Santana Shake Shack gets funding, to return paycheck protection loan CNN Experts say it may be time for grocery stores to ban customers from coming inside because of Covid-19, by Nathaniel Meyersohn […]
President Trump announces lockdown exit guidelines
President Donald Trump has unveiled a three-stage process of exiting the coronavirus lockdown. Jeff Mason and Steve Holland reported the news for Reuters: President Donald Trump laid out new guidelines on Thursday for U.S. states to emerge from a coronavirus shutdown in a staggered, three-stage approach meant to revive the U.S. economy even as the […]
Talking Biz News Today — April 17, 2020
Some of Friday’s top business news stories: Associated Press Layoffs and pay cuts are now striking more white collar jobs, by Christopher Rugaber Business owners left out as lending program goes on hold, by Joyce M. Rosenberg, Andrew Taylor CNN United says demand for travel is ‘essentially zero’ and signals layoffs, by Chris Isidore Volkswagen […]
Talking Biz News Today — April 16, 2020
Some of Thursday’s top business news stories: Associated Press More states finally paying $600 extra in unemployment aid, by Christopher Rugaber, Susan Haigh Tech companies step up fight against bad coronavirus info, by Amanda Seitz, Barbara Ortutay CNN US faces an ‘unprecedented’ decline in oil production, by Charles Riley Apple unveils new budget iPhone, by […]
Apple unveils affordable iPhone
Apple has launched a new iPhone that starts with a price tag of $399. Stephen Nellis reported the news for Reuters: Apple Inc (AAPL.O) on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company’s smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus […]
Talking Biz News Today — April 15, 2020
Some of Wednesday’s top business news stories: Associated Press Major airlines line up to split $25 billion in payroll aid, by David Koenig IMF: Global economy will suffer worst year since Depression, by Paul Wiseman, Martin Crutsinger CNN JPMorgan’s profit plummets 69% because of coronavirus, by Anneken Tappe, Matt Egan Auto dealers are closed. Sales […]
World faces worst recession since 1930s: IMF
The global economy is facing its worst recession since the 1930s, the International Monetary Fund has warned. SIlvia Amaro reported the news for CNBC: The global economy will this year likely suffer the worst financial crisis since the Great Depression, the International Monetary Fund said Tuesday, as governments worldwide grapple with the Covid-19 pandemic. The […]
Ten states make plans to reopen economy
Ten states, seven on the East Coast and three on the West Coast, are making plans to reopen their economies. Marias Caspani and Jessica Resnick-Ault reported the news for Reuters: Ten U.S. governors on the east and west coasts banded together on Monday in two regional pacts to coordinate gradual economic reopenings as the coronavirus […]
