Congress adopted the $600 billion-plus Paycheck Protection Program (PPP) to help American small- to medium-sized businesses (SMBs) stay afloat by using forgiveness loans to keep their workers employed and cover certain overhead expenses while the economy was shut down. But while generally regarded as a sincere effort to bail out...
Antitrust Regulator OKs Uber Buy Of Chilean Online Grocer Cornershop
Uber has been approved by the National Economic Prosecutor’s Office (FNE), Chile’s antitrust regulator, to acquire the Chilean grocery shopping app Cornershop, according to an FNE statement. “With the background information obtained during the investigation, the FNE became convinced, within the legal term, that the operation does not substantially reduce...
albo Launches New Business Banking Service albo empresas
Mexican banking FinTech albo is now offering business banking services in addition to the individual services the company has provided previously, according to news site Contxto. The service, called albo empresas, or albo business, attempts to address the problem of businesses losing time by making payments. Through albo empresas, businesses...
Summer 2020’s New Winning Accessory
The history of American fashion trends is bedecked with some strange entries. The summer of love in 1969 saw hippies storm Bethel, New York bedecked in bell-bottoms, shag fringed vests and beaded headbands. Shoulder pads first hit their stride in the 1980s, when designs like Armani, Anne Klein and Ralph...
Coronavirus Refunds: Golden Knights To Reimburse Fans
As the pandemic continues to disrupt everyday life the world over, many consumers want refunds on things they paid for but aren’t able to use. For example, sports teams are offering fans reimbursements for games that won’t be played amid the pandemic. The Golden Knights, an NHL team, plans to...
Goldman Takes Bitcoin To Task
Bitcoin: not worth much – except what someone else is willing to pay for it. Goldman Sachs’ withering assessment of bitcoin this week may be enough to take some wind out of the sails of those who have been looking for the marquee name in crypto to find its way...
United Airlines Announces Executive Staff Cuts
The “friendly skies� of United Airlines are not so friendly for employees facing layoffs as the pandemic has devastated the airline industry. United said it will reduce its staff of 67 officers by 13, CNBC reported on Friday (May 29). The officer-level executives work on the airline’s network, regional hubs and...
Bitcoin Daily: BitClave Settles SEC Charges By Agreeing To Return ICO Proceeds; Authentication Startup Magic Notches $4M In Funding
The U.S. Securities and Exchange Commission (SEC) unveiled charges against California-based blockchain services firm BitClave PTE Ltd. for allegedly holding an unregistered initial coin offering (ICO) of digital asset securities, according to a press release. The firm has agreed to settle the charges by giving back proceeds from the ICO...
Chicago Purchasing Managers Index Tumbles To 38-Year Low
The widely watched Chicago Purchasing Managers Index fell to 32.3 in May, hitting its lowest level since the recession year of 1982 as the COVID-19 pandemic slammed business confidence. Among the Index’s individual components, demand fell further after its largest drop ever during April. Meanwhile, the new orders component eased...
Uber Debuts $50 Hourly Ride Option In Select US Cities
Starting next month, ridesharing users in a dozen cities can opt in for a $50 an hour ride, Uber Technologies Inc. announced on Friday (May 29). Following a pilot program in Australia, Africa, Europe and the Middle East, this new feature is aimed at helping Americans with essential trips during...