Airbnb raises $1 bln in private equity funding
Airbnb has raised $1 billion in debt and equity from private equity investors to weather the coronavirus storm. Deirdre Bosa and Laura Batchelor reported the news for CNBC: Airbnb is raising $1 billion, even as the coronavirus crisis hits the travel and hospitality industries especially hard. In a press release, Airbnb says that private equity […]
Talking Biz News Today — April 6, 2020
Some of Monday’s top business news stories: Associated Press Governors plead for food stamp flexibility amid pandemic, by Astrid Galvan, Ashraf Khalil Boeing to continue production shutdown due to coronavirus CNN CEO of Italian tire maker Pirelli: US business leaders should prepare now for the worst, by Peter Valdes-Dapena Economists: Be skeptical of any claim […]
Boeing extends factory shutdown
Boeing has extended the shutdown of its Seattle manufacturing site until further notice. Leslie Josephs reported the news for CNBC: Boeing is extending production shut down at its Seattle-area airplane factories “until further notice” because of the coronavirus pandemic, the company said Sunday. The manufacturer last month said it would pause production for two weeks […]
More bad news expected from today’s jobs report
Friday’s employment situation summary is expected to reveal an end to a years-long streak of job additions. The AP’s Christopher Rugaber reported: After a record 113 straight months of hiring, the government’s monthly jobs report Friday is expected to show that the American jobs machine came to a sudden halt in March as a result […]
Talking Biz News Today — April 3, 2020
Some of Friday’s top business news stories: Associated Press Stimulus aid for ‘small business’ will go to some big chains, by Ryan J. Foley California delays sales tax payments for small businesses, by Adam Beam CNN Tesla overcomes plant shutdowns to again build 100,000 cars in quarter, by Chris Isidore Millions of Europeans are losing […]
Whiting Petroleum becomes first victim of oil crisis
Whiting Petroleum has become the first U.S. oil company to file for bankruptcy protection amid a price and demand slump. Arathy S Nair reported the news for Reuters: Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil prices that are […]
Talking Biz News Today — April 2, 2020
Some of Thursday’s top business news stories: Associated Press Some employers to laid-off staffers: Let’s stay in touch, by Christopher Rugaber FDA hasn’t authorized a two-minute test for coronavirus, by Amanda Seitz CNN The world could soon run out of space to store oil. That may plunge prices below zero, by Matt Egan This is […]
Talking Biz News Today — April 1, 2020
Some of Wednesday’s top business news stories: Associated Press Businesses may get COVID-19 relief loans as soon as Friday, by Joyce M. Rosenberg North Carolina hospitality industry says 370K out of work, by Gary D. Robertson CNN What happens to our food supply if American farmers can’t farm?, by Danielle Wiener-Bronner Amazon fires warehouse worker […]
Xerox Drops Bid for HP
Xerox has pulled its hostile takeover bid for peer HP because of the general business uncertainty created by the coronavirus outbreak. Ron Miller reported the news for TechCrunch: Xerox announced today that it would be dropping its hostile takeover bid of HP. The drama began last fall with a flurry of increasingly angry letters between […]
Federal government declares gun shops essential
The Trump administration declared gun shops were essential businesses that will stay open during the lockdown. Lisa Marie Pane reported the news for the AP: The Trump administration has ruled that gun shops are considered “essential” businesses that should remain open as other businesses are closed to try to stop the spread of coronavirus. Gun […]
