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The Small Business Administration is set to triple loan amounts for businesses hurt by Covid

Finance
A small business owner in Chinatown, San FranciscoSource: CNBCBeginning April 6, small businesses and non-profits can apply for up to 24 months of relief, with a maximum loan amount of $ 500,000, the Small Business Administration announced Wednesday.The previous limit for such businesses was six months, with a maximum loan amount of $ 150,000."More than 3.7 million businesses employing more than 20 million people have found financial relief through SBA's Economic Injury Disaster Loans, which provide low-interest emergency working capital to help save their businesses," SBA Administrator Isabella Casillas Guzman said in a statement. "However, the pandemic has lasted longer than expected, and they need larger loans."More from Invest in You:Suze Orman: Don't invest your stimulus checks. Her...
BoE’s Bailey warns EU against ‘dubious’ attempt to grab multi-trillion clearing business

BoE’s Bailey warns EU against ‘dubious’ attempt to grab multi-trillion clearing business

Business
Bank of England governor Andrew Bailey has warned Brussels against creating a "serious escalation" by forcing firms to relocate euro clearing business away from the UK.Mr Bailey told MPs Britain should "resist very firmly" any attempt by the EU to try to dismantle by "dubious" means the dominance of London in clearing euro-denominated derivatives - a business sometimes described as the plumbing of the financial market. It was the latest broadside by the governor on Europe, two weeks after he took Brussels to task over its apparent intransigence on granting post-Brexit "equivalence" for Britain's financial services sector. Image: Andrew Bailey said moves possibly being considered by Brussels would be controversial Appearing before the ...
Biden, Yellen discuss COVID-19 relief with national business leaders

Biden, Yellen discuss COVID-19 relief with national business leaders

Business
Feb. 9 (UPI) -- President Joe Biden and Treasury Secretary Janet Yellen met Tuesday with some of the country's leading chief executives to talk about his coronavirus stimulus plan currently being considered by Congress. Tom Donohue of the U.S. Chamber of Commerce along with Jamie Dimon of JPMorgan Chase, Doug McMillon of Walmart; Sonia Syngal of Gap, and Marvin Ellison of Lowe's, all attended the meeting where Biden stressed the importance of his relief proposal. Advertisement "The American people are hurting, a lot of people are in real, real trouble," Biden said. During the meeting, Syngal said that she has firsthand experience witnessing who is hurt most by the pandemic as retail workers are 60% to 70% women and 60% to 70% minority, while McMillon of Walmart highlighted the importance ...
Fox Business cancels ‘Lou Dobbs Tonight’

Fox Business cancels ‘Lou Dobbs Tonight’

Business
Feb. 5 (UPI) -- Fox News Media announced Friday it canceled its highly rated show hosted by Lou Dobbs one day after he was named in a $ 2.7 billion defamation suit filed by voting technology company Smartmatic. The media company didn't disclose why Lou Dobbs Tonight was benched from the Fox Business lineup. The show will be replaced by Fox Business Tonight with hosts Jackie DeAngelis and David Asman. Advertisement "As we said in October, Fox News Media regularly considers programming changes and plans have been in place to launch new formats as appropriate post-election, including on Fox Business -- this is part of those planned changes," a network representative said in a statement to NBC News. Dobbs, 75, began hosting the program on Fox in 2011 after rising to fame on CNN. In response ...
Supreme Court dismisses two cases about Trump’s business conflicts

Supreme Court dismisses two cases about Trump’s business conflicts

Business
Jan. 25 (UPI) -- The U.S. Supreme Court on Monday tossed out two cases that dealt with whether businesses owned by former President Donald Trump unfairly profited during his time in political office. The cases, brought by a non-profit and the District of Columbia and state of Maryland were sent back to lower appeals courts to "dismiss as moot" because Trump lost the 2020 election and was no longer president. Advertisement The cases centered on whether Trump's business operations, including his hotels in New York and Washington, D.C., violated the Constitution's emolument clause, which bans sitting presidents from receiving gifts from foreign or local governments. For the four years of Trump's presidency, Citizens for Responsibility and Ethics in Washington, or CREW, the non-profit that fi...