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Author Archives: Bloomberg

Jobless benefits won’t lapse after Trump’s delay, Labor Dept. says (access required)

Unemployed people claiming federal benefits won’t see a one-week gap in their payments despite the delay in President Donald Trump signing the program extension into law, according to the Department of Labor. States are implementing the provisions as quickly as ...

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Fed extends Main Street program to process last submitted loans (access required)

The Federal Reserve has delayed the termination of the Main Street Lending Program to Jan. 8, from Dec. 31, in order to finish processing loans submitted by a Dec. 14 deadline to tap its funds. The extension was approved by ...

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Mnuchin urged by Democrats to stand down on Fannie, Freddie (access required)

Democratic lawmakers Maxine Waters and Sherrod Brown have a message for Treasury Secretary Steven Mnuchin: Stand down on making big changes to Fannie Mae and Freddie Mac before the Trump administration ends. House Financial Services Committee Chair Waters and Brown, ...

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Fast-tracked bankruptcies leave some creditors in the dark (access required)

Lenders to deeply distressed companies are calling the shots in big corporate bankruptcies so far in advance that some cases are practically over before they get started. Investment firms and hedge funds are increasingly engineering bankruptcy loans and side deals ...

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Short sellers got crushed in 2020 as Tesla, Moderna soared (access required)

Short sellers won some high-profile victories this year with the collapse of payments firm Wirecard and hospital operator NMC Health. Otherwise, 2020 is shaping up to be the worst year on record for some investors seeking to profit from share ...

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Virus shouldn’t be Biden’s sole economic focus (access required)

Three formidable challenges await President-elect Joe Biden’s new chief economic adviser. The first involves the short term, steering the U.S. economy from Inauguration Day to the point that the COVID-19 vaccine is in wide distribution. Then comes adjusting to the ...

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Jobs report preview: US hiring holds up while threats multiply (access required)

U.S. employment gains probably slowed only modestly in November despite a record surge of coronavirus cases that still threatens to limit or even reverse hiring in coming months. Friday’s jobs report will show nonfarm employers added 475,000 people to payrolls ...

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Cyber Monday expected to hit pandemic-fueled $12.7B record (access required)

Online shoppers in the U.S. were expected to drop a record-busting $12.7 billion on Cyber Monday — the busiest e-commerce day of the year — presenting a valuable opportunity for retailers whose websites, customer service departments and delivery operations can ...

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Yellen may restore Treasury-Fed cooperation, with eye on GOP (access required)

As Treasury secretary, Janet Yellen is almost certain to pursue tighter coordination with the Federal Reserve next year — repairing recent frictions — though observers say she will be careful to avoid any specific move that could trigger a wave ...

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States suing Purdue Pharma press for confidential Sackler documents (access required)

States suing Purdue Pharma over the marketing of its OxyContin painkiller are demanding access to confidential documents as part of a probe into whether some members of the billionaire Sackler family engaged in misconduct when they managed the opioid maker. ...

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