Categories
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 […]

Categories
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 […]

Categories
Americas Industries National

Major cruise lines use foreign flags to avoid U.S. laws but they want U.S. bailout money

All cruise ships must have a country of registry in order to operate in international waters. Accordingly, most countries, including the U.S., provide these registration services or flags of registry. Predominant countries offering flags of registry for cruise vessels are the Liberia, Panama, Norway, Netherlands, Bahamas and the U.S. Flag states have certain rules for […]

Categories
Healthcare Industries National

PepsiCo to hire 6,000 new employees and to provide a free COVID-19 testing along with reimbursement of $100 a day for child care

PURCHASE, N.Y., /PRNewswire/ — PepsiCo, Inc. (PEP) (NASDAQ: PEP) (“PepsiCo”) today announced it will provide enhanced benefits to all U.S.-based employees and additional compensation to U.S. frontline employees – the women and men who make, move and sell products – amidst the novel coronavirus (COVID-19) pandemic. The additional compensation covers more than 90,0000 frontline employees […]

Categories
Entrepreneurs Industries Investments Markets National

Warren Buffett now owns 10% of Delta Air Lines, United,American and Southwest. So why would they need a bailout?

According to recent filings with the Securities and Exchange Commission, Warren Buffett’s Berkshire Hathaway holds a big chunk in several airlines: more than 50 million shares of Southwest , 42 million shares of American Airlines Group, 21.9 million shares of United Airlines, and 71.8 million shares of Delta Air Lines after buying almost a million […]

Categories
Industries Investments National

Boeing prepares for bailout,suspends dividend, buybacks, CEO pay

CHICAGO, March 20, 2020 /PRNewswire/ — The Boeing Company (NYSE: BA) today announced several decisions to support the company as it navigates through the COVID-19 pandemic while ensuring the company is positioned for the industry’s recovery. Decisions include: CEO Dave Calhoun and Board Chairman Larry Kellner will forgo all pay until the end of the […]

Categories
Industries Investments National

Delta Air Lines Internal Memo: We are burning $50M in cash a day

ATLANTA, March 20, 2020 – Delta Air Lines today announced it has entered into a $2.6 billion secured credit facility with JPMorgan Chase Bank, payable in a single installment on the maturity date on March 16, 2021. The goal is to enhance the company’s liquidity as it manages through an unprecedented decline in air travel […]

Categories
Automotive Industries National

Cadillac’s 2021 Escalade OLED display screen will be more powerful than most people’s home TVs

Caddilac released a teaser video offering a sneak preview of its new 38-inch curved OLED screen to be brought out with its new 2021 Escalade. According to Cadillac it will have “twice the pixel density of a 4K television.” The majority of infotainment systems are placed in a small space at the centre of the […]