US says hedge funds, private equity are not eligible for small business relief loans
The Small Business Administration said Friday that hedge funds and private equity firms are ineligible for the small business relief program. The move comes after reports that hedge funds had applied for the first round of the Paycheck Protection Program. That...
GOP’s Kevin Brady: Punishing businesses with higher taxes would hurt ‘blue-collar’ workers
Rep. Kevin Brady told CNBC on Friday that higher taxes and more regulations should not be put in place in response to the coronavirus economic crisis. “I don’t think you punish business in order to help that blue-collar worker. I...
US consumer sentiment falls for a third consecutive month
A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer sentiment fell for a third straight month as people weigh the coronavirus pandemic and the possibility of an economic...
Some gig workers are getting $0 in unemployment benefits
A driver adjusts his face mask as Uber and Lyft drivers with Rideshare Drivers United and the Transport Workers Union of America conduct a ‘caravan protest’ outside the California Labor Commissioner’s office amidst the coronavirus pandemic on April 16, 2020...
US core capital goods orders unexpectedly rise in March, while durable goods orders plunge 14.4%
Appliances for sale at a Home Depot store. Getty Images New orders for key U.S.-made capital goods unexpectedly rose in March, but the gains are not likely to be sustainable amid the novel coronavirus outbreak, which has abruptly shut down...
‘Big Short’ Steve Eisman likes the big US banks after coronavirus sell-off
Renowned investor Steve Eisman said Thursday U.S. banks are an attractive investment following the coronavirus-induced market sell-off. “I actually think long-term, the best cyclical play out there are the very large banks,” Eisman, senior portfolio manager at Neuberger Berman, told...
The US economy has wiped out all the job gains since the Great Recession
It took only five weeks for the U.S. economy to wipe out all the job gains it added over the last 11 years. Coronavirus-induced business closures throughout the U.S. have fueled the number of Americans applying for state unemployment benefits....
US weekly jobless claims hit 4.4 million, bringing 5-week total to more than 26 million
Jobless claim filings continued at a historically unprecedented pace last week with 4.4 million new signups for unemployment insurance, bringing the total of the past five weeks to 26.4 million, the Labor Department said Thursday. The number represented a decline...
Another 4.3 million workers expected to have filed unemployment claims
Eddie Rodriguez (R) and other City of Hialeah employees hand out unemployment applications to people in their vehicles in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. Joe Raedle | Getty Images Another 4.3...
Takeaway.com’s $7.6 billion takeover of food delivery rival Just Eat approved by UK regulator
An employee makes a pizza next to a Just Eat Plc branded delivery bag in the kitchen of The Fat Pizza takeaway pizza restaurant in Southend-on-Sea, U.K., on Thursday, Dec 19, 2019. Chris Ratcliffe | Bloomberg via Getty Images Dutch...
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