U.S. Bankruptcy Court allows J.C. Penney to keep paying staff and vendors
J.C. Penney Co Inc said on Saturday a U.S. Bankruptcy Court will allow it to keep paying wages and benefits to workers who will remain on the job after the U.S. department store chain filed for Chapter 11 protection from creditors, and also to pay ven…
Fed says around 600 smaller banks tapped PPP facility in its first days
Around 600 banks, most of them small community institutions, tapped the Federal Reserve’s Paycheck Protection Program facility for about $30 billion of loans as of May 6, the U.S. central bank reported on Saturday in its first detailed disclosure under…
Italian PM Conte says Fiat Chrysler entitled to seek state-backed loan
Italian Prime Minister Giuseppe Conte said on Saturday that Fiat Chrysler was entitled to apply for Italy’s state-backed loans because the automaker employs thousands of people in the country, even though its legal base is located abroad.
Fiat Chrysler asked Rome for a three-year state-backed loan for its Italian operations: union
Fiat Chrysler (FCA) has asked the Italian government for a state-backed three-year loan, to help the automaker pay suppliers and continue its investment plan in the country, UILM union said on Saturday.
Canada’s Trudeau to look at possible further aid for airlines, after Air Canada layoffs
Canadian Prime Minister Justin Trudeau said on Saturday he would look at possible ways to help airlines further, but laid out no new measures after the country’s biggest airline announced mass layoffs due to the coronavirus pandemic.
Saudi wealth fund boosts U.S. holdings with stakes in Citi, Boeing, Facebook
Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing, Facebook and Citigroup, a regulatory filing showed, giving it a portfolio of nearly $10 billion in U.S.-listed stocks.
British grocer Tesco’s slavery review reports abuses in Malaysia
U.K.-based multinational groceries chain Tesco PLC has found abuses against migrant workers at its stores and distribution centres in Malaysia and Thailand, it said in its annual modern slavery statement.
Saudi sovereign fund buys minority stakes in Citi, Boeing, Facebook
Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing , Facebook and Citigroup , according to a U.S. regulatory filing.
China asks United States to stop ‘unreasonable suppression’ of Huawei
China’s foreign ministry said on Saturday the United States needed to stop the “unreasonable suppression” of Chinese companies like Huawei, and a Chinese newspaper said the government was ready to retaliate against Washington.
Saudi sovereign fund discloses stakes in Citi, Boeing, Facebook
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has purchased minority stakes in major U.S. companies including Boeing , Facebook and Citigroup , according to a U.S. regulatory filing.
