(Bloomberg) -- A California software company that received a federal Paycheck Protection Program loan of more than $750,000 sued the government over new guidelines attempting to restrict who can get such assistance.Zumasys Inc. said in a suit filed Monday against the Small Business Administration and Treasury Department that it is now concerned it will have to pay back the forgivable loan the company and its two subsidiaries received in mid-April, some of which has already been spent to keep nearly 70 employees on payroll.Facing criticism that much of the money intended to help small businesses weather the economic shock of the coronavirus pandemic was going to larger enterprises, the government said on April 23 that companies applying for PPP loans were required to certify that federal assistance was “necessary,” taking into account their access to other sources of liquidity.But San Clemente-based Zumasys says it is entitled to the money under the...
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
(Bloomberg) -- Twilio Inc. projected rising sales for the second quarter, signaling stronger demand for communications software amid the coronavirus pandemic. Shares climbed about 25%.Revenue will increase as much as 35% to $370 million in the period, the San Francisco-based company said Wednesday in a statement. Analysts, on average, projected sales of $334 million, according to data compiled by Bloomberg. The company expects a loss, excluding some items, of 8 cents to 11 cents per share, which also is better than analysts had estimated.Twilio Chief Executive Officer Jeff Lawson has assembled a broad set of cloud-based capabilities that help companies embed communications systems in their apps and on their web pages. The company last year completed the largest acquisition in its history, buying SendGrid, which competes with Salesforce.com Inc. and others in helping clients send marketing emails.With people forced to stay at home during the Covid-19 pandemic, companies have reached out...
FourKites has created a live Network Congestion Map that tracks cross-border freight movements across North America, Mexico, and Europe, port delays from more than 230 ports globally, and interstate transit metrics. ...
