In this article Wells Fargo & Co. said it can’t fully meet demand from small businesses rushing to participate in a U.S. relief program because of constraints imposed by the Federal Reserve on the bank’s growth. The company has capacity to lend $10 billion to small-business clients under the $349 billion U.S. program, but customers already have expressed more interest […]
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The low-paid, young people and women are likely to be the hardest hit by the coronavirus shutdown of businesses including restaurants, hotels, pubs, retailers and transport services. Low earners are seven times as likely as high earners to work in a business sector that has shut down, according to the Institute for Fiscal Studies. The body’s analysis found a third […]
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New York (CNN Business)Delta is extending benefits for mileage plan members unable to travel because of the coronavirus outbreak. Coronavirus has been a massive disruption for the travel industry, as government and health officials restrict travel and and urge people stay home. A $50 billion airline bailout package from the US government is expected to help, but industry executives still […]
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Elton John is stepping up once again in the battle against coronavirus. The Rocket Man singer announced Saturday that his Elton John Aids Foundation has launched a $1 million COVID-19 emergency fund to protect individuals with HIV. “For almost 30 years my foundation has prioritized the most vulnerable people to HIV, to end the AIDS epidemic and we’re committed to […]
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The narrow, worn track in West Virginia, close to the foothills of the Appalachians, leads to a camp set back in the woods. There, a group of US survivalists have been preparing for the collapse of civilisation long before the arrival of the new coronavirus that has brought so much of the world to a halt. Boxes full of family-size […]
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Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. Liverpool, England (AP) — Liverpool has become the latest Premier League club to use a government scheme to furlough some non-playing staff, with the competition having been suspended for almost four weeks due to […]
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In this article U.S. auto sales just crashed to the slowest pace in a decade. But among those few consumers still buying cars, one product is seeing unusually high demand: the seven-year loan. In the last full week of March, 23% of new-vehicle buyers took out 84-month loans to finance their purchase, Joe Spak, an analyst at RBC Capital Markets, […]
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Actors’ Equity, whose membership has been jobless since the COVID-19 shutdown of live theaters across the country, is offering dues relief to those members who need it. The union’s $87 spring basic dues payment, customarily billed in May, has been extended to July 31, and late fees for basic dues and initiation fees that are accrued after April 1 will […]
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Federal and state officials are urging distressed small businesses to take advantage of the Paycheck Protection Program, a new $349 billion pool of relief funds that became available on Friday, April 3. “This is a very simple program. Businesses will get forgivable loans as long as they keep their people employed,” said Gov. Jared Polis during his Friday press conference. […]
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