(Bloomberg) -- Oil surged to the highest in more than five weeks as signs emerge that OPEC and its allies are scaling back crude shipments at a time when consumption is recovering.Futures in New York gained 9% Thursday. OPEC+ reduced exports by 5.96 million barrels a day for the first 14 days of May, according to Petro-Logistics. Meanwhile, Saudi Aramco cut oil sales to the U.S. and Europe by about half. The International Energy Agency said the outlook for global markets is improving with demand a little stronger than expected, while oil major BP Plc said consumption has surged back this week as cars return to the roads.The drop in exports is showing “they are complying with the OPEC+ deal,” said Andrew Lebow, senior partner at Commodity Research Group. The action taken contributed to a “more constructive scenario for the market.”Investors are still focused on the demand trajectory amid concern that...
Tesla's HR is ruffling some feathers, announcing to employees that should they decide to not return to work immediately they could lose unemployment benefits. ...
(Bloomberg) -- Bank of America Corp. priced a $1 billion bond issue to fund Covid-19 relief efforts. It’s the first sale from a U.S. financial institution that explicitly links all proceeds to tackling the virus, Bloomberg data show.The Charlotte, North Carolina-based lender sold fixed-to-floating rate notes to fund investments addressing social issues related to the pandemic, according to a person with knowledge of the matter. The bonds will yield 1.30 percentage points above Treasuries, said the person, who asked not to be identified as the details are private. Bank of America is sole manager of the bond sale.Borrowers globally have raised a record $102.6 billion of debt this year to combat the impact of the coronavirus. Chinese companies have issued the most so-called pandemic bonds, according to data compiled by Bloomberg. Paraguay and South Korea’s Kookmin Bank last month sold debt in U.S. dollars for Covid relief.U.S. corporations are catching up....
The stated goal of Paycheck Protection Program (PPP) loans is to encourage small businesses to keep employees working and earning. The hope is that businesses will keep workers on payroll even while mandated closures and social distancing cause sales to … Continue reading ->The post How to Spend Your PPP Loan to Ensure Forgiveness appeared first on SmartAsset Blog....
