Editor’s Picks

Mnuchin: All PPP Loan Recipients Will Face Audits

Mnuchin: All PPP Loan Recipients Will Face Audits
Mnuchin: All PPP Loan Recipients Will Face Audits
April 29, 2020  |  Economy

Businesses that borrow money through the federal Paycheck Protection Program (PPP) can expect to be audited before the loans are forgiven, Treasury Secretary Steven Mnuchin...

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Many US Restaurants Say PPP Loans Don’t Meet Their Needs
Many US Restaurants Say PPP Loans Don’t Meet Their Needs
April 29, 2020  |  Loans

An industry trade group said it’s highly likely that many restaurants will return loans from the U.S. Small Business Association’s (SBA) bailout program, the Financial...

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Deliveroo To Lay Off 15 Pct Of Staff Amid COVID-19
Deliveroo To Lay Off 15 Pct Of Staff Amid COVID-19
April 29, 2020  |  Gig Economy

Deliveroo announced it was laying off 367 employees and furloughing 50 — roughly 15 percent of its staff of over 2,500 — as it battles...

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Santander Seals $453M Deal For UK-Based FinTech Ebury
Santander Seals $453M Deal For UK-Based FinTech Ebury
April 29, 2020  |  Partnerships

Banco Santander has officially acquired a 50.1 percent stake in Ebury, a payments platform that has been growing at a brisk pace, for $453 million...

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Amazon Pay Later Offers India Users Zero-Interest Credit
Amazon Pay Later Offers India Users Zero-Interest Credit
April 29, 2020  |  Amazon

Amazon Pay has introduced a new credit service in India called Amazon Pay Later that offers merchandise repayment extending as long as 12 months. The...

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Blue Apron Sees Higher Demand Because Of The Coronavirus
Blue Apron Sees Higher Demand Because Of The Coronavirus
April 29, 2020  |  Retail

Amid reaccelerated marketing efforts, Blue Apron saw net revenue rise 8 percent and customers increase 7 percent sequentially from Q4 2019. The meal kit company reported...

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Retailers Seek Pandemic Relief Measures In Their Leases
Retailers Seek Pandemic Relief Measures In Their Leases
April 29, 2020  |  Retail

To include pandemic escape clauses and further mitigation, certain retail renters are seeking to recast their leases. Many retail leases restrict the occupant from seeking...

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U.S. 1Q GDP Tumbles 4.8 Pct, The Biggest Drop Since Great Recession
U.S. 1Q GDP Tumbles 4.8 Pct, The Biggest Drop Since Great Recession
April 29, 2020  |  Economy

U.S. gross domestic product (GDP) dropped 4.8 percent in the first quarter — its biggest decline since the 2008 Great Recession as the coronavirus pandemic slammed the...

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