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Dozens of publicly traded companies — including some with checkered pasts — took $300 million in government-backed loans meant to protect small businesses during the coronavirus crisis, a new report says. At least 75 public firms got low-interest loans through the Paycheck Protection Program, the Trump administration’s $349 billion small-business aid package that ran out …
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The U.S. coronavirus death toll reached 40,628 by Monday morning as state governors publicly worried they won’t have the amount of tests needed to safely reopen parts of the economy. “The administration, I think, is trying to ramp up testing. They are doing some things with respect to private labs,” Maryland governor Larry Hogan, a …
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Burger giant Shake Shack plans to return $10 million it received from a government loan program meant to protect small businesses during the coronavirus crisis. The New York-based fast food chain was one of several large restaurant companies that got a multi-million-dollar loan through the Trump administration’s $349 billion Paycheck Protection Program aimed at helping …
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China’s economy contracted for the first time in decades as the coronavirus outbreak ravaged the country and economic activity ground to a halt. Gross domestic product was down 6.8 percent from the same time during the previous year, according to data released Friday by China’s National Bureau of Statistics. The contraction was slightly more exaggerated than …
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Less than 50 percent of 25 large U.S. companies surveyed said that decoupling from China would be “impossible,” a 22 point reduction from a similar survey conducted last October, amid growing concerns over reliance on Chinese manufacturing following the coronavirus pandemic. The American Chamber of Commerce in China and the American Chamber of Commerce in …
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Large restaurant chains have gobbled up $30 million in federal loans meant to shore up small businesses during the coronavirus crisis. The companies behind Potbelly Sandwich Shop and Ruth’s Chris Steak House each got sizable loans under the feds’ Paycheck Protection Program, the $349 billion small-business aid package that ran out of money Thursday. Florida-based …
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The White House has invited Senator Josh Hawley (R., Mo.) to join its task force on reopening the U.S. economy, following Hawley’s proposal that the federal government pay 80 percent of workers’ wages until the coronavirus crisis subsides. “Just finished call w/ [President Trump] as part of his Task Force on Reopening – becoming more …
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“Summer House” star Kyle Cooke is about to launch a new blueberry lemon spritz cocktail — for the cool price of $69. The 37-year-old reality star, who already has a line of sparkling hard tea called Loverboy, says his new drink, which will sell in a pack of 12, is “a premium product.” “The goal …
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On Tuesday in an interview with Reuters, the chief economist of the International Monetary Fund (IMF), Gita Gopinath, said that one hundred countries seek pandemic aid. This was only a few weeks after the managing director of the very same IMF, Kristalina Georgieva, said in an emergency statement that the IMF is ready to deploy all …
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People wearing protective masks walk in a shopping district, following an outbreak of the coronavirus in Beijing, China, March 25, 2020. U.S. retail sales plummeted in March as the coronavirus pandemic caused business to grind to an almost complete halt and consumers became tighter with their spending habits. Total U.S. retail sales, which includes sales …
Dozens of publicly traded companies — including some with checkered pasts — took $300 million in government-backed loans meant to protect small businesses during the coronavirus crisis, a new report says. At least 75 public firms got low-interest loans through the Paycheck Protection Program, the Trump administration’s $349 billion small-business aid package that ran out …
