General Motors and Ventec Life Systems are producing VOCSN critical care ventilators at the automaker’s Kokomo, Indiana manufacturing facility with FDA-cleared ventilators scheduled to ship as soon as next month. ...
The U.S. economy was rocked today by shocking numbers of 3.3 million people filing unemployment claims for the first time, but the worst is still to come for trucking. ...
Despite the House passing a $2T relief bill, markets broke their 3-day winning streak. iQ Capital Managing Partner and CEO Keith Bliss joins joins Seana Smith to discuss....
Yahoo Finance's Alexandra Canal breaks down how the $2 trillion stimulus bill will help aid struggling theater owners as the global box office suffers amid the coronavirus pandemic. ...
(Bloomberg) -- Carnival Corp. is in talks to raise as much as $7 billion as the cruise ship operator seeks to shore up its finances amid a halt on global travel, according to people with knowledge of the matter.The company, looking to raise cash to improve liquidity as the Covid-19 pandemic upends its business, is being advised by lenders including JPMorgan Chase & Co., said the people, who requested anonymity because the matter is private.Carnival is discussing issuing a mix of debt and equity, the people said. Options include issuing $3 billion to $7 billion in senior secured first-lien debt, implying a loan-to-value ratio of about 25%, they said. The company is also weighing issuing $1.5 billion in convertible notes and $1 billion to $2 billion in common equity, one of the people said. The situation remains fluid, they said.Representatives for Carnival and JPMorgan declined to comment.Carnival fell as much as...
The plight of airlines commands much focus, as their businesses have all but come to a stand-still amid the coronavirus pandemic. But a vast number of the nation’s small businesses as well as larger hotel chains are fighting for survival, too....
(Bloomberg) -- For 93 uncomfortable minutes, Bank of America Corp. rushed to escape infamy this week, before it was saved by the grace of James Corden, the affable talk show host known for crooning in cars with stars.The drama began when California Governor Gavin Newsom called out the bank for not offering 90-day grace periods to mortgage borrowers affected by the coronavirus, despite such pledges by rivals including JPMorgan Chase & Co. and Wells Fargo & Co. A journalist tweeted the lashing, and then Corden reposted it to his 10.7 million followers. The bank raced to correct what it called the governor’s mistake.Just over an hour later, the firm promised Corden it would defer payments on home loans for as long as the crisis requires. He relented, putting the internet’s fury to rest:Across the nation, bankers are on edge. Publicly, they’re emphasizing that unlike the last downturn in 2008 they aren’t...
