(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....
The plan, which will be one of the biggest inbound U.S. investments on record and create over 1,600 jobs, comes as U.S. President Donald Trump steps up criticism of Chinese trade practices and Beijing's handling of the novel coronavirus ahead of the Nov. 3 U.S. presidential election. Trump has long pledged to bring manufacturing back from overseas and now a steep economic slump brought on by the novel coronavirus is driving a government-wide push to end U.S. production and supply chain dependency on China. U.S. Secretary of Commerce Wilbur Ross touted the deal as "another indication that President Trump’s policy agenda has led to a renaissance in American manufacturing."...
The move by the world's biggest contract manufacturer of computer chips coincides with an effort by the administration of President Donald Trump to bring more foreign manufacturing to the United States. The plant will create as many as 1,600 jobs and produce the most sophisticated 5 nanometer chips, TSMC said in a statement. The Taiwan company also has an older chip facility in Washington state....
