Tag: businessNews

Capital One says it won’t use CFTC waiver related to oil lending

WASHINGTON (Reuters) – U.S. lender Capital One Financial Corp (COF.N) said on Saturday it would not use a U.S. Commodity Futures Trading Commission (CFTC) waiver after commodity price volatility lifted the bank’s derivatives exposure toward a key regulatory threshold. FILE PHOTO: People walk past a Capital One banking center in New York’s financial district January […]

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Trump says will ask Congress for more small business funds if money runs out

U.S. President Donald Trump addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 3, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – U.S. President Donald Trump said on Saturday he would ask Congress for more money to make loans to small businesses struggling with the economic fallout from the coronavirus outbreak […]

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Saudi energy minister rejects Russian comments about kingdom’s withdrawal from OPEC+ deal

CAIRO (Reuters) – The Saudi energy minister on Saturday rejected Russia’s remarks that the kingdom withdrew last month from a deal to cut output. Prince Abdulaziz bin Salman was responding to comments made by his Russian counterpart on Friday, according to a statement carried by Saudi state news agency SPA. “The Russian Minister of Energy […]

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Saudi Arabia denies withdrawing from OPEC+ deal, says Russia was the one that withdrew

FILE PHOTO: Saudi Arabia Foreign Minister Prince Faisal bin Farhan Al Saud is welcomed by his Bulgarian counterpart Ekaterina Zaharieva in Sofia, Bulgaria, January 29, 2020.REUTERS/Dimitar Kyosemarliev CAIRO (Reuters) – The Saudi foreign minister said early on Saturday that a statement attributed to Russia’s President Vladimir Putin about the kingdom’s withdrawal from the OPEC+ deal […]

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Why sweetened layoff benefits may be at odds with U.S. loan program

WASHINGTON/SAN FRANCISCO (Reuters) – The generous U.S. unemployment benefits rolled out to blunt the economic harm caused by the coronavirus could have an unintended effect: it may actually be an incentive for companies to choose layoffs rather than keep staff on their books. FILE PHOTO: Treasury Secretary Steven Mnuchin addresses the daily coronavirus response briefing […]

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U.S. warns airlines to quickly refund tickets after canceled flights

FILE PHOTO: American Airlines passenger planes crowd a runway where they are parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. REUTERS/Nick Oxford WASHINGTON (Reuters) – The U.S. Transportation Department on Friday issued a notice to airlines reminding them […]

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U.S. businesses swarm coronavirus bailout fund after days of confusion

(Reuters) – Like many small business owners, New York City restaurateur Dan Kluger spent his Friday scrambling to apply for a loan under the U.S. government’s $349 billion small business bailout fund, which officially launched in the morning. FILE PHOTO: Treasury Secretary Steven Mnuchin discusses details for economic relief during the daily coronavirus response briefing […]

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