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June 7, 2020

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Reuters - Business

Cafe Rouge, Bella Italia could see nearly a third of outlets closed: sources

Reuters
by Reuters08
LONDON (Reuters) – Britain’s high-street restaurant chains Bella Italia, Cafe Rouge and Las Iguanas could see around 30% of their outlets cut, two sources told Reuters, as their owner pushes ahead with talks to sell the businesses stricken by the COVID-19 crisis. FILE PHOTO: A worker packs away tables and......
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CNBC Business

Trump signs bill to ease guidelines on coronavirus relief loans for small businesses

CNBC
by CNBC06
CNBC – For more and to sign up click here President Donald Trump speaks in the Rose Garden of the White House, Monday, June 1, 2020, in Washington. Patrick Semansky | AP President Donald Trump signed a bill Friday to give recipients of government small business loans during the coronavirus......
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BBC - Business

Government under fire for cheap loans to big firms

BBC
by BBC06
https://www.bbc.co.uk/news/business-52934481 Image copyright Getty Images Image caption German chemicals company BASF borrowed more than £1bn The government has been criticised for handing out more than £16bn in cheap loans to well-known firms such as John Lewis and Tottenham Hotspur. Of that, £1bn was lent to a German chemicals giant, while......
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Reuters - Business

Intesa CEO says state-backed FCA loan crucial to protect Italy’s economy

Reuters
by Reuters011
FILE PHOTO: A Mirafiori FCA worker walks at the Mirafiori industrial complex on the 80th birthday of the plant in Turin, Italy July 11, 2019. REUTERS/Massimo Pinca/File Photo MILAN (Reuters) – A 6.3 billion euro ($7 billion) state-backed loan for Fiat Chrysler (FCA) (FCHA.MI) financed by Intesa Sanpaolo (ISP.MI) is......
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Reuters - Business

U.S. banks attract bargain hunters though hurdles to growth remain

Reuters
by Reuters06
(Reuters) – Investors eyeing a turnaround in the U.S. economy are piling into U.S. bank stocks even as some caution that positive stress test results and an abatement of loan losses will be needed to sustain a rally in the battered sector. FILE PHOTO: A woman passes by a Chase......
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Reuters - Business

Renault finalises 5 billion euro state-backed loan

Reuters
by Reuters010
A Renault car is seen in a show room at a Renault carmaker dealer, amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – Renault (RENA.PA) finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the......
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Reuters - Business

Wells Fargo stops giving loans to most independent car dealerships

Reuters
by Reuters08
FILE PHOTO: Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon (Reuters) – Wells Fargo & Co will stop providing loans to a majority of its independent auto dealer customers due to the economic challenges brought on by the COVID-19 pandemic, a spokeswoman......
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CNBC Business

Wells Fargo, worried about defaults, stops making loans to most independent car dealerships

CNBC
by CNBC09
CNBC – For more and to sign up click here Wells Fargo is tapping the brakes on its auto loan business, CNBC has learned exclusively. The bank, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last......
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Reuters - Business

French Finance Minister: Renault loan not signed yet, but should be soon

Reuters
by Reuters06
A customer walks near a vehicle at a Renault carmaker dealer amid the coronavirus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium May 29, 2020. REUTERS/Yves Herman PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Tuesday the government had not yet signed off on a planned 5 billion euro......
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BBC - Business

Amigo Loans investigated over affordability checks

BBC
by BBC09
https://www.bbc.co.uk/news/business-52882272 Image copyright PA Media The controversial sub-prime lender Amigo is being investigated over the way it assesses whether customers can afford to repay their loans. The Financial Conduct Authority (FCA) launched an investigation into the firm’s practices last week, Amigo said. Amigo lends money to people with a poor......
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Reuters - Business

Embraer negotiating $600 million bank financing for exports

Reuters
by Reuters013
FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company’s headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio/File Photo RIO DE JANEIRO (Reuters) – Brazilian planemaker Embraer SA (EMBR3.SA), the world’s third largest commercial jet builder, should obtain $600 million in credit......
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Reuters - Business

Lufthansa accepts tweaked demands by Brussels over state bailout

Reuters
by Reuters013
BERLIN/FRANKFURT (Reuters) – Lufthansa’s management board has accepted a more favourable set of demands from the European Commission in exchange for approval of a 9 billion euro ($10 billion) government bailout, the carrier said on Saturday, paving the way for its rescue. FILE PHOTO: Airplanes of German carrier Lufthansa are......
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Reuters - Business

Edging closer to bailout, Lufthansa accepts tweaked demands by Brussels

Reuters
by Reuters016
BERLIN/FRANKFURT (Reuters) – Lufthansa’s (LHAG.DE) management board accepted a more favourable set of demands made by the European Commission in exchange for approval of a 9 billion euro ($10 billion) government bailout, the carrier said on Saturday, paving the way for its rescue. FILE PHOTO: Airplanes of German carrier Lufthansa......
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Reuters - Business

Preliminary agreement reached in Lufthansa bailout row: sources

Reuters
by Reuters010
FILE PHOTO: Airplanes of German carrier Lufthansa are parked at the Berlin Schoenefeld airport, amid the spread of the coronavirus disease (COVID-19) in Schoenefeld, Germany, May 26, 2020. REUTERS/Fabrizio Bensch/File Photo BERLIN/FRANKFURT (Reuters) – Germany and Brussels have reached a preliminary agreement in the ongoing row over the 9 billion......
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Reuters - Business

Preliminary agreement reached in Lufthansa bailout row: source

Reuters
by Reuters015
FILE PHOTO: Airplanes of German carrier Lufthansa are parked at the Berlin Schoenefeld airport, amid the spread of the coronavirus disease (COVID-19) in Schoenefeld, Germany, May 26, 2020. REUTERS/Fabrizio Bensch/File Photo BERLIN/FRANKFURT (Reuters) – Germany and Brussels have reached a preliminary agreement in the ongoing row over the 9 billion......
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CNBC Business

Powell says the Fed is ‘days away’ from making the first loans in the Main Street lending facility

CNBC
by CNBC014
CNBC – For more and to sign up click here Federal Reserve Chairman Jerome Powell said the central bank’s long-awaited program to lend to small- and medium-sized businesses is about to get off the ground. The Main Street lending facility, which will target companies with up to 15,000 employees, has......
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CNBC Business

House votes to ease restrictions on coronavirus small business loans

CNBC
by CNBC06
CNBC – For more and to sign up click here U.S. Speaker of the House Nancy Pelosi (D-CA) delivers remarks during a weekly news conference on Capitol Hill in Washington, May 28, 2020. Tom Brenner | Reuters The House passed a bill Thursday designed to give small businesses owners more......
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New York Post

House votes to relax coronavirus PPP loans for small businesses

NYPost
by NYPost016
The House overwhelmingly voted Thursday to relax rules for how businesses use Paycheck Protection Program funds during the coronavirus pandemic. The reforms passed 417-1 and now go to the Senate for consideration. The Paycheck Protection Program Flexibility Act allows businesses to spend money over 24 weeks rather than just eight......
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Reuters - Business

U.S. House approves bill lengthening coronavirus small-business loan terms

Reuters
by Reuters013
FILE PHOTO: View of the U.S. Capitol Building ahead of a series of votes in the House of Representatives, on Capitol Hill in Washington, U.S., May 27, 2020. REUTERS/Tom Brenner WASHINGTON (Reuters) – The U.S. House of Representatives on Thursday overwhelmingly approved legislation increasing the amount of time, to 24......
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CNBC Business

Three steps to pay for college without taking on student loans

CNBC
by CNBC06
CNBC – For more and to sign up click here Mark Kantrowitz graduated from college with zero debt and money left over from all of his grants and scholarships.  Now Kantrowitz, vice president of research at Savingforcollege.com, has made a career out of helping people graduate college without a lifetime......
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