(Bloomberg) -- A Dallas hotel executive and major donor to President Donald Trump has emerged as the biggest winner from the coronavirus bailout for small businesses.A combined total of $59 million from the small business lending package went to three lodging companies chaired by Monty Bennett, according to regulatory filings. The money went to Braemar Hotels & Resorts, which owns luxury properties including the Ritz-Carlton in St. Thomas in the U.S. Virgin Islands, Ashford Hospitality Trust Inc., which owns more than 100 hotels around the country, and the firm that manages both.The PPP has come under fire after big restaurant chains like Potbelly Corp. and Ruth’s Chris Steak House got loans, while many mom-and-pop firms were left stranded when the initial $349 billion in funding for the program ran out of money last week. The House is expected to vote Thursday on a bill approving an additional $320 billion for the...
After Microsoft Corporation (NASDAQ: MSFT) ditched Intel Corporation (NASDAQ: INTC) in favor of Advanced Micro Devices, Inc. (NASDAQ: AMD) for its Surface laptops, Apple Inc. (NASDAQ: AAPL) is reportedly making a similar move. Apple's Processor Plan Apple is contemplating the use in-house chips for one or more of its Mac computers, moving away from its longtime supplier Intel, Bloomberg reported Thursday, citing people familiar with the matter.Apple is developing three Mac processors, aka systems-on-chips, based on the A14 processor, which will debut with the impending iPhone 12 models, the report said. Apple is gearing up for the release of at least one Mac with its own chips in 2021, according to Bloomberg. With the Cupertino, California-based tech giant working on multiple processors under the Kalamata project, it is believed the company is intent on moving away from Intel in a big way for its Mac devices.The chips are likely to be...
Small businesses across the nation are anxiously awaiting for the approval of the $484 billion dollar bill. Ami Kassar, Multifunding.com CEO, joins Yahoo Finance to discuss that and more. ...
(Bloomberg) -- The retail shutdowns sweeping the country amid the coronavirus outbreak have put L Brands Inc. in a tough spot. With a deal to sell its iconic Victoria’s Secret brand now in jeopardy, things just got a lot worse.The future of the ailing lingerie business is in limbo after Sycamore Partners said it wants out of the deal it struck just a few months ago to take a majority stake in Victoria’s Secret. In a court filing this week, the private equity firm said steps L Brands have taken to survive the pandemic, including furloughing workers and failing to pay rent, violated terms of the original deal.The allegations tanked L Brands’ stock and launched what could be an ugly war between the onetime bedfellows. L Brands, which was counting on the sale to bring in cash and help revive the lingerie brand, has already said it will fight to keep...
