Ten days after banks began accepting loan applications from small businesses hurting from the coronavirus pandemic, Israel Shaked was still trying to file his request. “The process is very, very lengthy,” said Shaked, who is the owner of a consulting firm and a finance professor at Boston University. He’s trying to secure a $200,000 loan
Month: April 2020
Junior’s Cheesecake owner Alan Rosen said Tuesday that the money the restaurant company has received through the Treasury Department’s small business loan program is not enough to immediately bring workers off furlough. There is too much uncertainty about when the coronavirus pandemic will subside and when people will be comfortable to “sit shoulder to shoulder in our
A wall mounted dual flush toilet from Duravit Photo courtesy of Duravit You might notice I’m particularly obsessed with toilets these past two months. Being cooped up in the house makes the necessaries in the home all the more important. Over the years, there has been an increased concern for the environment and particularly in
California Gov. Gavin Newsom Rich Pedroncelli | AP California Gov. Gavin Newsom announced Tuesday a guide to how Californiawill reopen society and the economy across the state as officials weigh lifting restrictive orders meant to curb the spread of the coronavirus. Newsom became the first governor to issue a statewide stay-at-home order on March 19.
Christine McCarthy, a nurse for over 20 years and a palliative nurse for the past year, sits for a portrait on an empty hospital bed at Massachusetts General Hospital in Boston on Apr. 2, 2020. Here at the states largest hospital, staff are coping with unprecedented realities in this coronavirus pandemic and deeply worried about what
This is a live blog. Please check back for updates. 8:25 am: Roku says streaming hours nearly doubled in the first quarter, stock jumps Shares of the television streaming platform soared nearly 15% in premarket trading on Tuesday after the company said its first-quarter streaming hours to be 13.2 billion, a 49% increase year-over-year. Roku said it expects
A JetBlue Airways Corp. plane taxis next to American Airlines Group Inc., Delta Air Lines Inc., and Alaska Airlines Inc. aircraft at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020. Andrew Harrer | Bloomberg | Getty Images U.S. airlines and the Treasury Department have reached an agreement in principle on
Franklin Delano Roosevelt Memorial, Bronze statues that depict the Great Depression, Waiting in a bread line by George Segal, Washington D.C, United States. UniversalImagesGroup | Getty Images The global economy will this year likely suffer the worst financial crisis since the Great Depression, the International Monetary Fund said Tuesday, as governments worldwide grapple with the
urfinguss | Getty Images A fight could be brewing over your coronavirus stimulus check. Your opponent could be your very own bank. If you have outstanding debts, your stimulus payments could be reduced or taken by creditors or debt collectors, in what 25 state attorneys general called a “legislative oversight” in a letter sent to
Yuka Ioroi, co-owner of Cassava restaurant on Balboa Street in San Francisco manages take-out orders on April 8, 2020. San Francisco Chronicle/Hearst Newspapers via Getty Images Nearly 7.5 million small businesses are at risk of closing their doors permanently over the next several months if the coronavirus pandemic persists, according to a survey. Around two-thirds
TOPLINEA spate of lawsuits targeting gym chains—deemed non-essential businesses amid a near-national shutdown—over gym charges is just one bad sign for a huge industry that may have a hard time getting back into shape post-pandemic. A Planet Fitness in Reading, Massachusetts before the onset of Coronavirus. Dina Rudick/The Boston Globe via Getty Images KEY FACTS
Sanofi and GSK have entered an agreement to jointly create a Covid-19 vaccine by the end of next year. The companies plan to start clinical trials in the second half of 2020 and make it available by the second half of 2021. “As the world faces this unprecedented global health crisis, it is clear that
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson shares rose by more than 3% Tuesday in premarket trading after the U.S. drugmaker raised its quarterly dividend even as it cut full-year earnings guidance due to the coronavirus outbreak. J&J raised its dividend from 95 cents a
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Tuesday. Here’s what Wall Street expects: Earnings: $1.84 per share, a 31% decline from a year earlier, according to Refinitiv. Revenue: $29.67 billion, a 0.6% decline
Flags of the US and China are placed ahead of a meeting between US Secretary of Agriculture Sonny Perdue and China’s Agriculture Minister Han Changfu at the Ministry of Agriculture in Beijing on June 30, 2017. Jason Lee | AFP | Getty Images China said Tuesday it bought twice as many U.S. farm products in
A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto Chris Helgren | Reuters Wells Fargo is scheduled to release Tuesday its first-quarter results. Here’s what Wall Street analysts expect from the banking giant: Earnings: 33 cents per share expected, according to StreetAccount Revenue: $19.3 billion forecast Net interest income:
Ahmad Alsheikh, 18, was admitted to the Harvard class of 2024. Source: Ahmad Alsheikh For Ahmad Alsheikh, 18, gaining acceptance to Harvard’s Class of 2024 was a lifetime in the making. Alsheikh and his family came to the U.S. from Syria, seeking asylum from that country’s civil war. Yet in starting school as a high school
Getty Images Millennials have been dealt two very bad economic hands during their lifetimes. First, they weathered the 2008 financial crisis brought about by reckless risk-taking in the financial sector. Now, they confront a much more severe economic calamity caused not by Wall Street’s misbehavior but by a malicious virus. Yet in both situations, the
Soybean imports in Beijing, China. TPG | Getty Images China reported that its yuan-denominated exports fell 3.5% in March from a year ago, while imports rose 2.4% in the same month, data from the General Administration of Customs showed on Tuesday. The country’s trade surplus was 130 billion yuan, according to Reuters calculations. While the outbreak appears
Stock futures climbed slightly in overnight trading on Monday as investors brace for what could be an ugly earnings season with the coronavirus wrecking havoc on global corporate profits. Futures on the Dow Jones Industrial Average rose about 90 points. The S&P 500 and Nasdaq futures were also up slightly. Earnings season is set to
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