Convening April 7, this fleet-specific webinar will address how to access funds, loan forgiveness details, up-to-the-minute federal guidance, and the status of future funding legislation. ...
(Bloomberg) -- President Donald Trump convened an extraordinary gathering of the oil industry’s competing factions at the White House on Friday and vowed to support them as a global pandemic and oil-price war weigh on their markets.“We’ll get our energy back,” Trump said during a portion of Friday’s meeting that was open to reporters. “I’m with you 1,000%. It’s a great business, it’s a very vital business and honestly, you’ve been very fair. You’ve kept energy prices reasonable for a long period of time.”Trump has sought to broker a deal with Russia and Saudi Arabia to end an oil price war that sent crude futures plunging to 20-year lows by cutting back on production. That could boost prices and help drillers located in states such as Texas and Louisiana that are crucial to his re-election in the fall. Canada is also in talks with OPEC and the U.S. about the state...
(Bloomberg Opinion) -- Here's one more issue to add to the bonfire of tensions with China brought on by the coronavirus pandemic. The country is reportedly reopening its wet markets, the fresh produce stalls associated with Covid-19's early spread in Wuhan.It's understandable that countries now in the grip of the first wave of infection might be outraged. Many blame wet markets for starting the outbreak in the first place. Opening them again, at a moment when thousands are dying overseas, seems emblematic of Beijing's increasingly chauvinistic approach to world affairs.Animals in wet markets are penned and slaughtered or sold live right next to stalls selling fruit and vegetables. Conditions, as my colleague Adam Minter has written, are often less than hygienic.Places where a range of common and exotic animals mix together while bodily fluids flow freely may seem a fertile breeding ground for the virulent novel diseases that cross the species...
(Bloomberg) -- Teddy Kramer worked at WeWork from 2013 to 2015. When he left the company, he had been a director of new market development, helping the co-working startup open new offices in different regions. He’d put in the time and been granted shares in the company. At first, he thought he might be able to sell them after WeWork’s much-anticipated initial public offering in September, but the IPO attempt flopped.As a backup option, Kramer and other current and ex-WeWork staff were told they would be able to sell their shares to SoftBank Group Corp. in a deal set to take place on Wednesday. Kramer was expecting to sell between $50,000 and $100,000, he said, and he was depending on the cash to cover expenses while he started his new business, a co-working space in San Francisco called Neon. On Thursday, though, SoftBank sent a letter to all WeWork shareholders: The deal was off. The Japanese conglomerate,...
General Motors Co (GM) will seek to extend maturities on US$6bn in revolving loans rather than refinance a US$16.5bn credit facility following discussions with its bank group during an unprecedented health crisis in the US. The company originally went out to its JP Morgan and Citigroup-led bank group in early March requesting to push maturities on the US$16.5bn in revolving credit facilities as part of its regular-way liability management operations. The transaction was meant to roll over maturities, but leave pricing unchanged, several sources familiar with the discussions said....
