Category: Uncategorized

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.

NEW YORK — DraftKings Inc on Thursday completed its $3.3 billion reverse merger with blank-check company Diamond Eagle Acquisition Corp, teeing up the U.S. sports betting company to make its Nasdaq debut at a time when there is almost no live sports. Read More

DraftKings set to go public despite coronavirus-induced sports freeze — Financial Post

NEW YORK — Ruth’s Hospitality Group Inc, owner of the Ruth’s Chris Steak House chain of restaurants, on Thursday said it would quickly repay $20 million of federal rescue loans it received to help maintain payroll through the coronavirus crisis, a program aimed at small businesses. Read More

Ruth’s Chris owner to speed repayment of $20 mln federal rescue loan — Financial Post

(Bloomberg) — Treasury Secretary Steven Mnuchin said he’s considering the creation of a government lending program for U.S. oil companies, who are looking for federal aid as they cope with a devastating plunge in prices. Read More

Mnuchin Weighs Lending Facility for Struggling Oil Companies — Financial Post

MEXICO CITY — The Mexican government is pushing ahead on a priority rail project, awarding on Thursday a 15.5 billion peso ($626 million) contract for a first phase of construction on its “Mayan Train” project, the government said in a statement. Read More

China’s CCCC among firms awarded $626 mln Mexican train contract — Financial Post