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National

Senator Pat Toomey: $1,000 checks will arrive in 2 weeks.

If you are wondering when are those $1,000 ($1,200 per adult and $500 per child) checks coming your way, the answer seems to be very soon. How soon? According to U.S. Senator for Pennsylvania, Pat Toomey, check should arrive in a “couple of weeks”. This was reported by Reuters reporter in DC, David Shepardson. Toomey […]

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Eurozone Industries Investments Markets National

Warren Buffett takes another blow as Heinz Ketchup sales are going down due to stay-at-home orders

Back in February Warren Buffett complained that his Berkshire Hathaway Inc overpaid for merger that created Kraft Heinz Co . With Airlines being his biggest fall this March, looks like Kraft Heinz stocks (KHC) are going down as well. At least if we are going to trust the latest report price target from Berenberg. German […]

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Americas Asia Entrepreneurs Eurozone Industries National

Delta Air Lines, United and AA are getting a bailout but they are not giving refunds for cancelled flights

The United States Congress has agreed to the approval of the most powerful economic rescue plan in the U.S. history, an arsenal of nearly two trillion dollars to help relieve the economic impact of Coronavirus.The agreement between the White House and Republicans, on the one hand; and the Democratic opposition, on the other hand, arrived […]

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Industries Markets National

American Airlines to employees: Expect layoffs and 20% pay cuts, and that’s if AA gets bailout

Flight cancellations are skyrocketing, the biggest U.S. airlines are internally thinking about a voluntary shutdown of all passenger flights across the U.S. and on the remaining flights that are still operating, it’s not uncommon to have only a handful of passengers. In this economy (if we can call it economy) some airlines are burning $50M […]

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National Technology

Trump:”America is not built to shut down, we need to get back to work”

As people on West Coast are waking up, the war on Twitter is showing a divide that grows deeper and deeper. 24 hours ago, prominent U.S. officials announced that they would begin to relax social distancing and attempt to restrain stay at home orders. Now, the stock market is beginning to rise with DOW almost […]

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Industries National

Internal Memo:Compass Airlines that operates for Delta and American is going out of business in 15 days

Compass Airlines, a A Twin Cities-based air carrier that flies for both Delta Air Lines and American Airlines, has announced that it will close its doors starting April 7. Since Compass Airlines is going out of business this means that 12,000 employees will lose their job and finding a new job in the same industry […]

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Automotive Healthcare National Technology

Ford will use F150 parts and 3D printing to produce Air-Purifying Respirators

Dearborn, Michigan – Ford Works, 3M and GE Healthcare will build ventilators, faceshields and respirators using off-the shelf parts such as “fans from the Ford F-150’s cooled seats for airflow, 3M HEPA air filters to filter airborne contaminants such as droplets that carry virus particles and portable tool battery packs to power these respirators for […]

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Eurozone Markets National

Booking.com CEO in the letter to employees:”It is going to get worse before it gets better”.

Booking Holdings (NASDAQ:BKNG) one of the largest online travel agencies (OTA) and second biggest in U.S. market after Expedia, is taking the measures to save cash during the travel meltdown caused by coronavirus outbreak. In the Letter to employees from March 23, 2020 Booking CEO Glenn Fogel talks about cutting non-essential business travel, implementing a […]

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Industries Investments Markets National

NexTier Oilfield Solutions to cut its capital spending 50%, due to difficult market conditions

HOUSTON, March 23, 2020 / — NexTier Oilfield Solutions Inc. (NEX) today announced several immediate strategic actions being taken in response to current market conditions to prioritize financial strength and cash flow, including a significant reduction in its 2020 capital expenditures program and additional streamlining of its cost structure. NexTier is taking actions to significantly […]

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Americas Industries Markets National

Royal Caribbean not waiting for a bailout, secures $2.2B loan from J.P. Morgan, BofA,BNP and Goldman Sachs

MIAMI, March 23, 2020 /PRNewswire/ — Royal Caribbean Cruises Ltd (NYSE: RCL) today announced that it has entered into a $2.2 billion 364-day secured term loan facility, further enhancing the company’s liquidity position. The facility can be extended at the company’s option for an additional 364 days. The company has borrowed the full amount available […]