Author: JavaExchange

NEW YORK/WASHINGTON — In just six weeks, Boeing Co went from seeking government aid to announcing it no longer needed it. Read More

How Boeing went from appealing for government aid to snubbing it — Financial Post

LONDON — U.S. petroleum consumption has fallen by a third since the economy went into lockdown in March but showed signs of stabilizing last week, …

U.S. oil consumption stabilizes but stockpiles continue to swell: Kemp

BENGALURU — Pummeled into recession by the coronavirus pandemic, the global economy will suffer its steepest contraction on record this year, with a…

Global economic contraction to be steepest on record, recovery U-shaped

WASHINGTON — The Small Business Administration on Wednesday said it would be temporarily closing its Paycheck Protection Program (PPP) for small businesses hurt by the novel coronavirus to all but the country’s smallest lenders, in a bid to give them fair access. Read More

Big U.S. banks to be temporarily locked out of small business lending program – SBA — Financial Post

CARACAS — Venezuela is asking the Bank of England to sell part of the South American nation’s gold reserves held in its coffers and send the proceeds to the United Nations to help with the country’s coronavirus-fighting efforts, according to two sources with knowledge of the situation. Read More

Venezuela asks Bank of England to sell its gold to UN for coronavirus relief – sources — Financial Post

Volkswagen AG and Toyota Motor Corp said Wednesday they will delay restarting U.S. production amid the coronavirus pandemic and concerns about the automotive supply network. Read More

Volkswagen, Toyota delay restarting U.S. production — Financial Post

DETROIT — Michigan Governor Gretchen Whitmer said on Wednesday she will allow the state’s construction industry to return to work on May 7 as the Midwestern state works to reopen its economy amid the coronavirus outbreak. Read More

Michigan to reopen construction industry in state on May 7 — Financial Post

NEW YORK — U.S. stocks surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell. Read More

Wall Street rallies on promising coronavirus drug — Financial Post

CHICAGO — Chicago corn futures slid on Monday on favorable U.S. planting weather coupled with struggling crude oil prices that continue to pressure demand for corn-based ethanol fuel, analysts said. Read More

Active U.S. planting weighs on corn market, wheat hits 1-month low — Financial Post

WASHINGTON — Six Democratic senators have urged the U.S. Justice Department to take a hard look at what they called a “problematic” merger of the No. 2 and No. 3 largest textbook companies, Cengage and McGraw-Hill. Read More

Six senators urge Justice Dept to take tough look at ‘problematic’ textbook merger — Financial Post

This article hits close to home with most of the Java Exchange members.