Category: Uncategorized

LONDON — The United Kingdom has drawn up plans to require employers to cover 20% to 30% of furloughed employees’ wages from August to reduce the vast burden of the coronavirus crisis on government finances, The Times newspaper reported. Read More

UK to require employers to pay 20-30% of furloughed wage cost – The Times — Financial Post

Jaguar Land Rover is in talks with the British government about a request for temporary state funding of more than 1 billion pounds ($1.22 billion), Sky News said on Saturday, a report the company said was inaccurate. Read More

Jaguar seeks state loan as coronavirus pandemic takes toll- Sky News — Financial Post

U.S. billionaires saw their fortunes soar by $434 billion during the nation’s lockdown between mid-March and mid-May, according to a new report.

https://www.cnbc.com/2020/05/21/american-billionaires-got-434-billion-richer-during-the-pandemic.html

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ETF Edge: QQQ ETF nears $100 billion in assets-under-management milestone

https://www.cnbc.com/video/2020/05/11/etf-edge-qqq-etf-nears-100-billion-in-assets-under-management-milestone.html

Online used car seller Vroom Inc filed for its U.S. initial public offering on Monday, at a time when the coronavirus-led restrictions are shifting consumer spending to online platforms. Read More

Online used car seller Vroom files to go public — Financial Post

As the economic slows or in some area stops, the people in C – suite appear to be profiting. Are the laws to lack in the US for executives and corporate governance strategies just a mirage to the working staff.

As JCPenney struggles with missed debt payments and prepares for a possible bankruptcy filing, it approved bonuses of $1 million or more to its top four executives.JCPenney won’t comment on its bankruptcy plans, but it disclosed that it missed two recent debt payments: $12 million due to bond holders on April 15, and a $17 million payment due on a credit line this past Thursday. The grace periods for those missed payments are Thursday and Friday this week, suggesting a bankruptcy filing could be imminent.

https://www.cnn.com/2020/05/13/investing/jcpenney-bankruptcy-bonuses/index.html

Sen. Richard Burr (R-NC) listens to testimony during a Senate Health, Education, Labor and Pensions Committee hearing on Capitol Hill on May 12 in Washington, DC. | Win McNamee/Getty Images Sen. Burr has stepped down as chair of the Senate Intelligence Committee after the FBI executed a search warrant at his home Thursday morning. North…

Sen. Richard Burr and the coronavirus insider trading scandal, explained — Vox – All

The Federal Reserve’s stash of bonds and other assets grew to nearly $7 trillion this week, but several of its programs are seeing slackening demand from banks and investors and a much-anticipated corporate bond buying facility bought little in its first two days of operations. Read More

Fed corporate bond program starts with a fizzle as total assets near $7 trln — Financial Post

The New York Stock Exchange (NYSE) trading floor will partially reopen on May 26, over two months after it closed down to control the spread of the coronavirus, NYSE President Stacey Cunningham said https://www.wsj.com/articles/the-nyse-will-reopen-the-trading-floor-11589487300?mod=opinion_lead_pos5 in an opinion piece in the Wall Street Journal. Read More

NYSE to partially reopen trading floor on May 26 – WSJ — Financial Post