JPMorgan says now accepting applications for federal loan program
JPMorgan Chase & Co , the largest U.S. lender by assets, started accepting at Friday midday applications for loans from the federal government’s paycheck protection program, according to a post on the bank’s website.
Trump says Bank of America, others doing ‘great job’ on small-business loans
President Donald Trump hailed one of the country’s largest banks, as well as many small lenders, for making small business emergency loans on the first day of a new U.S. coronavirus economic relief program.
Fed Chair Powell spoke with Trump as central bank geared up for virus response
Federal Reserve Chair Jerome Powell had two previously undisclosed phone calls with U.S. President Trump in February, calendars released on Friday show, including a brief call during the last week of the month when it was becoming clearer that the coro…
Deep oil output cuts won’t offset unprecedented demand loss: IEA
Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world’s richest economies to discuss broader ways to stabilise oil markets.
OPEC+ debates biggest-ever oil cut as pandemic crushes demand
OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said, after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic.
Constellation Brands says Mexico breweries still running amid coronavirus outbreak
Constellation Brands Inc , the U.S. distributor of Corona beer, said on Friday its Mexican breweries were still operational and supply to the United States was intact even as rivals suspended production due to the coronavirus pandemic.
3M warns against Trump’s order to limit face mask exports
3M Co said on Friday it would make more face masks for the United States to fight the coronavirus pandemic, but warned of the “humanitarian implications” of limiting supply to other countries as President Donald Trump directed.
Coronavirus depresses U.S. payrolls, more job losses coming
The U.S. economy shed 701,000 jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the novel coronavirus outbreak shuttered businesses and factories, confirming a recession is underway.
Hedge fund Glenview off 30% as coronavirus weighs on portfolio
Glenview Capital Management, the hedge fund run by Larry Robbins, has lost roughly 30% in the first three months of 2020 as the spread of the new coronavirus hurt the healthcare facilities and hospital operators the firm has invested in.
Cisco’s Webex draws record 324 million users in March
Cisco Systems Inc’s video-conferencing app Webex registered a record 324 million attendees in March, with usage more than doubling in the Americas, as the coronavirus-led lockdowns forced businesses to have employees work from home.
