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Author Archives: Bloomberg

Goldman sends some traders home after New York COVID-19 case

Goldman Sachs headquarters in New York on April 11, 2020. MUST CREDIT: Bloomberg photo by Mark Kauzlarich.

Goldman Sachs sent some traders home from its Manhattan headquarters after at least one employee tested positive for COVID-19, according to people with knowledge of the matter. The quarantine was imposed on a select group directly exposed to the infected ...

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Banks snub fed’s $600 billion lifeline for Main Street firms

FILE- In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington. President Donald Trump has selected Columbia University professor Richard Clarida to be vice chairman of the Federal Reserve and Kansas bank commissioner Michelle Bowman to fill another vacancy on the Fed’s seven-member board. (AP Photo/Andrew Harnik, File)

It was billed as a lifeline for America’s middle-market companies seeking cash to get through the pandemic. Yet more than two months since its launch, the Federal Reserve’s Main Street Lending Program isn’t living up to expectations as few banks ...

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An activist investor crusades against forced arbitration at Tesla

Kristin Hull, founder and chief executive officer of Nia Impact Capital, in Oakland, Calif., on Aug. 10, 2020. MUST CREDIT: Bloomberg photo by Marissa Leshnov.

When Tesla Inc.’s shareholders gather September 22 for their annual meeting, Kristin Hull will have roughly three minutes to make the case against the company’s use of mandatory arbitration for employee sexual harassment and racial discrimination claims. Hull is the ...

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Fannie-Freddie foreclosure suspension extended to year’s end

(Thinkstock)

Fannie Mae and Freddie Mac will extend their suspension of mortgage foreclosures through at least the end of the year, providing more relief for homeowners who are grappling with the economic pain of the coronavirus. Fannie and Freddie, which backstop ...

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Trump’s court overhaul is set to be even broader if he wins

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President Donald Trump has reshaped the federal judiciary. If he wins another four years, he could transform it entirely. Trump heads into next week’s Republican National Convention able to boast of having installed more than 200 judges, including 53 on ...

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For Uber, the ‘stall game’ averts a reckoning over its driver pay

Dara Khosrowshahi, chief executive officer of Uber Technologies, speaks during the Bloomberg Global Business Forum in New York on Sept. 25, 2019. 
(BLOOMBERG/BESS ADLER)

  Uber Technologies Chief Executive Officer Dara Khosrowshahi’s warning that the company may have to temporarily shut down in California is textbook strategy for the ride-hailing giant: When adverse court rulings hit, appeal to the public for support and seek ...

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Former Fed Chair Yellen advising Biden-Harris ticket

FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. Former Federal Reserve Chair Janet Yellen was among a team of advisers who briefed Joe Biden on Thursday, Aug. 13, 2020, about the economic fallout from the coronavirus. (AP Photo/Andrew Harnik, File)

Democratic presidential nominee Joe Biden and his running mate Kamala Harris received their first joint economic briefing on Thursday, which included former Federal Reserve Chairwoman Janet Yellen. Two of Biden’s longtime economic advisers, Jared Bernstein and Heather Boushey, were among ...

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Pentagon to share 5G spectrum with US telecoms

FILE - This Feb. 25, 2019 file photo shows a banner of the 5G network is displayed during the Mobile World Congress wireless show, in Barcelona, Spain.  The U.S. communications regulator will hold a massive auction to bolster 5G service, the next generation of mobile networks, and will spend $20 billion for rural internet.  5G will mean faster wireless speeds and has implications for technologies like self-driving cars and augmented reality.   The Federal Communications Commission said Friday, April 12,  that it would hold the largest auction in U.S. history, of 3,400 megahertz, to boost wireless companies’ networks.  (AP Photo/Manu Fernandez, File)

The White House and Pentagon presented plans Monday to help U.S. telecom companies build new ultrafast 5G networks by allowing commercial use of airwaves previously reserved for military radar. The move will open 100 megahertz of spectrum to be auctioned ...

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Busted retailers use bankruptcy to break leases by the thousands

FILE - This March 5, 2013 file photo shows an Ann Taylor store in Mount Lebanon, Pa. The operator of Ann Taylor and Lane Bryant filed for Chapter 11 bankruptcy on Thursday, July 23, 2020, the latest retailer to do so during the pandemic. Mahwah, New Jersey-based Ascena Retail Group Inc., which operates nearly 3,000 stores mostly at malls, has been dragged down by debt and weak sales for years. (AP Photo/Gene J. Puskar, File)

With the pandemic intensifying the plight of U.S. retailers, companies from J. Crew Group to the owner of Ann Taylor are using Chapter 11 bankruptcy filings to quickly get out of costly, long-term leases and shutter thousands of stores. By ...

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U.S. borrowing breaks fresh records, shifting focus to the Fed

FILE- In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington. President Donald Trump has selected Columbia University professor Richard Clarida to be vice chairman of the Federal Reserve and Kansas bank commissioner Michelle Bowman to fill another vacancy on the Fed’s seven-member board. (AP Photo/Andrew Harnik, File)

The U.S. government will push its fundraising to new extremes this quarter to cope with a budget deficit unseen since the country mobilized to fight World War II. The Treasury expanded its plans for borrowing at longer maturities in the ...

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