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Editors’ Picks
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RetailLack Of Travelers Puts The Hurt On Hertz
As if you needed more evidence that the stay at home, all digital world was shattering the “old” economy, or that online...
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SMBsPPP Loan Program’s Flaw: It Pays To Be Jobless
The $2.2 trillion CARES Act passed by Congress last month brought good news for the unemployed workers and small businesses. For anyone...
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LegalWeWork’s Ex-CEO Sues SoftBank Over Aborted $3B Deal
WeWork Co-founder Adam Neumann has launched a legal battle with his company’s biggest investor, SoftBank Group Corp., charging that it has wrongfully...
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Mobile ApplicationsApple And Google App For Virus Contact Will Block Location Tracking
In new contact tracing apps built to combat the coronavirus, Apple and Google-parent Alphabet will ban the use of location-tracking GPS software...
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LoansBanks Extend $500B In PPP Loans To Help Struggling SMBs
Banks in the U.S. have extended over $500 billion in loans to small and medium-sized businesses (SMBs) affected by the COVID-19 pandemic....
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InvestmentsGerman FinTech N26 Notches $100M Amid Uncertainty
German challenger bank N26 closed a funding deal for an additional $100 million as it prepares for financial uncertainty due to the...
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InvestmentsRobinhood Nets $280 Million On A $8.3B Valuation
Robinhood Markets, coming off a new $280 million funding round backed by Sequoia Capital, has seen its value and services expand during...
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SMBsSMBs Have Only 69 Days Of Cash, Even With PPP
Count entrepreneurs among the most optimistic souls in the universe. While the coronavirus death toll continued to rise, nearly 70 percent of...
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Consumer Finance1 In 4 US Cardholders Saw Credit Limit Cut Over The Last Month
Nearly 50 million credit card customers in the U.S. said they have had their credit limit slashed or their card closed in...
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LoansMost Of SBA PPP Loan Program’s Second Round Funding Already Spoken For
As small businesses try to beat the odds to get a piece of the latest round of first-come, first-served Paycheck Protection Program...
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InternationalIndia Reopens Some Areas To Nonessential eCommerce, Ride-Hailing
India’s Ministry of Home Affairs has given the green light to Amazon, Flipkart, Ola, Uber and others to resume their services in...
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RetailLamar Jackson Lights Up VR Gaming
Virtual reality maybe on the verge of its first retail hit. If Baltimore Ravens quarterback and last season’s NFL MVP Lamar Jackson...
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InvestmentsIndia’s Jio Gets $750M Boost From Silver Lake
Private equity firm Silver Lake is investing $750 million in India’s telecommunications giant Jio Platforms, according to a report in the Wall...
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RidesharingUber Revs Up Restart, Will Require US Drivers And Riders To Cover Faces
Drivers for Uber will soon be required to wear masks in several countries, including the U.S., the company said. Representatives for Uber...
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CoronavirusGeorgia’s Push To Reopen Falls Flat As Consumers Stay Home
The road to recovery after the coronavirus pandemic is widely expected to be a winding one as businesses, consumers and officials work...
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LoansKudlow: Third Round Of SBA PPP Loans ‘May Be’ Necessary
Some 2.2 million small business loans totaling $175 billion were extended on Sunday (May 3) in the second round of the Paycheck...
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LegalUS Judge: Uber Can Be Sued For Allegedly Forcing Out Rival
A lawsuit against Uber alleges that the company engaged in deceitful practices to drive its competitor Sidecar Technologies out of business in...
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LoansTexas Hotel Group To Give Back $70M In PPP Loans
Texas hospitality group Ashford Inc. is buckling under pressure and will return $70 million in Paycheck Protection Program (PPP) loan money it...
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B2B PaymentsCorporate Ransomware Payments Up In Remote Working Environment
Corporate ransomware payment amounts rose sharply in the first quarter of this year, with a wave of coronavirus-related attacks and other peripherally-related...
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EconomyCOVID Crisis Pushes Nearly 4M US Mortgages Into Forbearance
Nearly 4 million U.S. home mortgages — or 7.3 percent of the total — have entered into “forbearance” programs with their lenders...
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CoronavirusUK Restaurants Say Social Distancing Could Bankrupt Them
If restaurants and bars in the U.K. are required to apply social distancing when they reopen, many won’t survive, according to a...
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B2B PaymentsDOJ Finds Evidence Of PPP Loan Fraud
Amid rising criticism over the loan effort, the Department Of Justice has reportedly discovered potential fraud among companies seeking relief with the...
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LoansPPP Recipients To Lose Valuable Tax Breaks
Small businesses fortunate enough to get their Paycheck Protection Program (PPP) loans forgiven will forfeit some tax breaks, according to new rules...
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Fintech InvestmentsTencent Becomes ‘Substantial’ Investor In Afterpay
Tencent Holdings Limited has become a “substantial shareholder” of Afterpay, according to an announcement from the company. The Chinese technology firm purchased...
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AmazonHouse Judiciary Committee Seeks Testimony Of Amazon CEO Jeff Bezo On Merchant Practices
After a report surfaced that Amazon staffers utilized information regarding independent sellers to create rival items, House Judiciary Committee legislators requested that...
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RetailJ.Crew Joins The Pandemic Bankruptcy Perp Walk
The great retail re-opening is now being called the “great resettling” by many observers and J.Crew is its latest victim. According to...
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Security & FraudLondon’s Finablr Finds $1B In Debt Charged To Company
Finablr has uncovered around $1 billion in debt hidden from its board, in the latest news in the scandal that has pushed...
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LoansBig Lenders Process Half-Million PPP Loan Applications Totaling $45.8B
JPMorgan Chase and Bank of America said they processed almost 500,000 applications totaling roughly $46 billion as part of the Paycheck Protection...
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BankingSavings Rate Surges To Highest Level In 39 Years
The shaky coronavirus economy has promoted people to sock money at levels not seen since 1981. A Bureau of Economic Analysis report...
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AmazonAmazon Expects To Expend All Of Q2’s Profit Fighting COVID-19
While Amazon earnings announcements over the years have become somewhat well known for their “expect the unexpected” atmosphere, yesterday’s earnings surprise was...
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ANTITRUSTConsumer Groups Ask DOJ To Look At Google’s Fitbit Acquisition
Public advocacy groups want the government to closer examine the acquisition of Fitbit by Google, due to the former’s potential as a...
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DeliveryWalmart Tests $10 Upcharge For 2-Hour Grocery Delivery
Walmart’s new Express Delivery service will transport items to customers’ doors within two hours for a $10 charge, the company announced Thursday...
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EarningsVisa: Tap-to-Pay Transactions Grow 40 Pct YoY
Visa posted fiscal second-quarter results that showed a precipitous falloff in cross-border volumes late in the quarter amid the coronavirus pandemic, alongside...
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CoronavirusWH Adviser: Fourth Round Of Stimulus Funds May Not Be Needed
White House Economic Advisor Kevin Hassett thinks a fourth economic stimulus package may not be necessary if states can safely and successfully...
- Coronavirus
Amazon To Use Expected $4B In Q2 Profits On COVID-19 Expenses
Amazon.com Inc. said it expects to spend its anticipated $4 billion second-quarter profits on coronavirus-related expenses, according to the company’s filing with the Securities...
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CoronavirusReport: Smartphone Production Expected To Hit Record Low In Q2
A revised forecast of smartphone production predicts volume will shrink to a record low in the second quarter as the spread of...
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InternationalGrab Wants Staffers To Accept Unpaid Leave, Decreased Hours
Grab Holdings Inc. has started to request that workers accept decreased hours or take a leave without pay so the company can...
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MastercardMastercard: Half Of Consumers Now Using Contactless Payments
As nations put limitations into place to support social distancing in February and March, Mastercard reported that a significant share of consumers...
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EarningsOverstock’s 1Q Loss Narrows and April Sales Soar 120 Pct
Shares of Overstock.com Inc. rose 4.5 percent Thursday (April 30) after the eCommerce retailer announced a narrower first-quarter loss and the fact...
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Security & FraudBrooklyn Man Charged With Allegedly Swiping Some $12,000 In IRS Stimulus Checks From Mail
Feng Chen, 31, of Brooklyn, New York, was charged with alleged theft of U.S. mail that included some $12,000 in government stimulus...
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LoansFederal Reserve Extends Reach Of Main Street Lending Program
The Federal Reserve is extending its $600 billion Main Street lending program to reach small and medium-sized businesses (SMBs) hit by the...
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RetailMacy’s Plans To Reopen 68 Locations After COVID-19 Closures
As it joins the ranks of returning merchants following COVID-19 store closures, Macy’s intends to open 68 retail locations on Monday (May...
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CoronavirusJPMorgan Chase Submits Nearly $18B In PPP Loans
JPMorgan Chase & Co. told its small business clients that the New York financial services company has submitted 220,000 applications this week...
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CoronavirusAnother 3.8 Million Americans File Jobless Claims, Bringing COVID Total Above 30 Million
COVID-19 continues to take its toll on the nation’s economy, as another 3.8 million Americans filed for jobless claims week ended April...
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EarningsFacebook Daily Active Users Surge 11 Pct YoY Amid Pandemic
Facebook’s earnings results showed the impacts of a pandemic that proved to be headwinds on its advertising business, but logged gains in...
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LoansJPMorgan, Other Big Banks Front-Load $66B To Cover Bad Loans
JPMorgan Chase was the biggest saver of funds in an effort by banks around the world to get ahead of a spate...
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RetailHalf Of Mall Department Stores Expected To Close By Next Year
Long before the coronavirus struck, brick-and-mortar stores faced extinction by a combination of eCommerce and bankruptcies. More than 9,300 brick-and-mortar stores closed...
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LoansPollo Tropical, Taco Cabana Parent Gives Back Small Business Aid; Treasury Aims To Have PPP Funds Given To Larger Firms Returned
The coronavirus pandemic is disrupting businesses large and small. While the Paycheck Protection Program (PPP) was intended to help small- to medium-sized...
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CoronavirusTreasury Chief Mnuchin: Stimulus Checks Not For the Dead
Treasury Secretary Steve Mnuchin says $1,200 stimulus checks from the government were sent in error, and relatives and family members should return...
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Real EstateUS Pending Home Sales Drop Almost 21 Pct As Buyers Stay Home
Pending single-family home sales fell by nearly 21 percent in March compared to February as the economic impact of COVID-19 took its...
