(Bloomberg) -- The Justice Department has begun a preliminary inquiry into how taxpayer money was lent out under the Paycheck Protection Program and has already found possible fraud among businesses seeking relief, a top official said.Assistant Attorney General Brian Benczkowski, who runs the department’s criminal division, said prosecutors have contacted 15 to 20 of the largest loan processors and the Small Business Administration, which oversees one relief program, as part of an effort to police the trillions of dollars in federal aid being pushed out hastily to blunt the economic impact of the coronavirus pandemic.The review has already turned up several red flags in the data prosecutors have examined over the past week, Benczkowski said Thursday in a telephone interview. Issues were found in both approved and rejected applications.“Whenever there’s a trillion dollars out on the street that quickly, the fraudsters are going to come out of the woodwork in an...
Tesla Chairman and CEO Elon Musk revealed during a first-quarter earnings call that the company’s first step into the Class 8 market, the electric Semi, will once again be delayed, this time into 2021. ...
Boeing's capital raise, first reported by Reuters earlier this week, is the sixth-largest investment-grade bond offering of all time and the biggest year-to-date, according to Refinitiv data. The Federal Reserve's intervention in the credit market has boosted prospects for troubled borrowers such as Boeing. While it has not yet snapped up any corporate bonds such as Boeing's, its openness to doing so has buoyed credit markets....
Boeing's capital raise, first reported by Reuters earlier this week, is the sixth-largest investment-grade bond offering of all time and the biggest year-to-date, according to Refinitiv data. The Federal Reserve's intervention in the credit market has boosted prospects for troubled borrowers such as Boeing. While it has not yet snapped up any corporate bonds such as Boeing's, its openness to doing so has buoyed credit markets....
Boeing's capital raise, first reported by Reuters earlier this week, would be the sixth-largest investment-grade bond offering of all time and the biggest year-to-date, according to Refinitiv data. The Federal Reserve's intervention in the credit market has boosted prospects for troubled borrowers such as Boeing. While it has not yet snapped up any corporate bonds such as Boeing's, its openness to doing so has buoyed credit markets....
