Berkshire Hathaway sells part of Delta, Southwest airline stakes
Warren Buffett’s Berkshire Hathaway Inc said on Friday it sold about 18% of its stake in Delta Air Lines Inc and 4% of its holdings in Southwest Airlines Co this week, as the coronavirus pandemic drives the airline industry into perhaps its biggest …
U.S. businesses swarm coronavirus bailout fund after days of confusion
Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the U.S. government’s $349 billion small business bailout fund, which officially launched in the morning.
Mexico without Corona: Brewers suspend production during pandemic
Mexicans fretted about beer supplies on Friday after Dutch brewer Heineken said it will suspend production at its seven plants in Mexico to comply with coronavirus containment measures, following a similar announcement by rival Modelo.
U.S. airlines apply for U.S. payroll help but terms still unclear
Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed during a sharp downturn resulting from the coronavirus outbreak, but while talks over the terms were expected to continue in coming days some…
Trump aims to ease U.S. oil industry’s cash crunch, no plan to trim output: sources
U.S. President Donald Trump has directed his cabinet to find ways to ease a cash crunch in the drilling industry after oil company executives told him in a Friday meeting it was among their top concerns, according to three sources briefed on the matter…
U.S. SEC official urges delay in public comment on agency rule changes
The U.S. Securities and Exchange Commission’s lone Democratic commissioner on Friday called for a delay in pending rule changes due to the coronavirus outbreak, while cautioning against excessive regulatory relief in the rush to assist companies strugg…
Southwest expects talks on U.S. payroll grant terms over next several days
Southwest Airlines Co said on Friday it has applied for U.S. payroll grants but cannot disclose details as the next several days could involve conversations on the terms of any agreement.
Kraft Heinz cuts output at three plants, adds shifts for mac & cheese
Kraft Heinz Co said on Friday it has moved to significantly reduce production at three plants providing restaurant supplies amid the new coronavirus outbreak, but its CEO noted the company has added shifts at others to meet demand for packaged foods l…
Soaring unemployment increases odds U.S. banks will cut dividends
Questions are building about whether big U.S. banks will have to cut dividends later this year as the coronavirus crisis puts a record portion of Americans out of work, making it difficult for borrowers to pay back loans.
U.S. airlines apply for U.S. payroll grants for crisis help
Major U.S. airlines applied on Friday for payroll grants from the U.S. Treasury meant to keep workers employed while airlines ride out their toughest crisis in history due to the coronavirus, though some warned the funds are “not enough.”
