The U.S. Small Business Administration has processed over 3.8 million loans for more than half a trillion dollars since the launch of the Paycheck Protection Program on April 3 to deal with the economic fallout of the coronavirus outbreak, according to a joint statement by the SBA and the Treasury Department.
The rise of virtual hangouts and work meetings hasn't been enough to stop the battering of the beauty industry as the COVID-19 outbreak has largely put in-person activities on hold. But the clean beauty market has been a bright spot.
White House economic adviser Larry Kudlow said on Sunday he would not rule out any element in the next potential coronavirus relief bill, including more money for state and local governments and the small business program.
General Motors' sales in China saw double-digit year-on-year growth in April, its two local ventures said on Sunday, as the world's biggest auto market recovers from the coronavirus.
Lufthansa is hopeful its bailout talks with the German government can be concluded soon, the airline's board told staff in a letter seen by Reuters, adding that it is also considering alternatives such as creditor protection.
Iceland may consider taking a stake in Icelandair Group if the government injects funds into the airline, Bloomberg reported, citing comments by Prime Minister Katrin Jakobsdottir to a local radio station.
White House economic adviser Larry Kudlow said on Sunday he would not rule out anything in a new relief bill to ease the "tremendous hardships" of the coronavirus outbreak, including more money for state and local governments and small businesses.
U.S. crude futures fell more than 5% in early trade on Monday, paring last week's gains, on worries about oil oversupply and tempered hopes for an economic recovery as some U.S. states and cities around the world ease coronavirus pandemic restrictions.
The dollar rose, oil fell and stock markets were poised to slip on Monday as rising U.S.-China tensions over the coronavirus - and growing unease at the gulf between asset prices and grim economic reality - turned investors cautious.
Oil prices fell in early trade on Monday, paring last week's gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery even as coronavirus pandemic lockdowns start to ease.
The dollar inched higher, stock markets struggled for traction and oil fell on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
General Motors Co's South Korean unit plans to sharply cut output this month at a factory producing its new Trailblazer sport-utility vehicle (SUV), as the coronavirus outbreak weighs on its U.S. exports and also disrupts parts supplies.
Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest 56.56 billion rupees ($746.74 million) in its digital arm, giving it a valuation of 4.90 trillion rupees.
Rocket Lab CEO Peter Beck told CNBC that the impact of the coronavirus crisis on the space industry is in "early days," as he expects a tough environment for at least 18 more months.
After the coronavirus pandemic passes, life will continue in many regards, but nothing will be the same and the economy won't return to the way it was, not for a long time.