Thursday , 16 July 2020

U.S. to Loan Military Hauler YRC Worldwide $700 Million for Nearly 30% Stake

WASHINGTON — The U.S. Department of Treasury on Wednesday said it had agreed to loan YRC Worldwide inc $700 mln loan in exchange for a 29.6% equity stake in the transportation company, saying it was essential for moving military supplies.

In statement, the department said the loan was made under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and would help preserve about 30,000 trucking jobs for the company.

(Reporting by Susan Heavey, editing by Louise Heavens)


Source link

Check Also

Bank of America adds $4B to reserves for problem loans

A Bank of America branch on Greenwich Avenue in Greenwich, Conn. A Bank of America …

Bank of America adds $4B to reserves for problem loans

A Bank of America branch on Greenwich Avenue in Greenwich, Conn. A Bank of America …

These Denver-area ZIP codes landed the most PPP loans – Denver Business Journal

These Denver-area ZIP codes landed the most PPP loans  Denver Business Journal Source link

Expert Warns PA Residents That Loans During Downturn Could Lead To Bankruptcy

File photo For Pennsylvanians facing financial difficulties during the pandemic, it may appear that there …

Survey Finds at Least Half of College Undergraduates Use Student Loans to Help Cover College Costs

WILMINGTON, Del., July 16, 2020 /PRNewswire/ — Student loans are part of the college financing …

Emergency loans for universities about to go bust

Image copyright Getty Images Image caption Universities have warned of financial losses from the pandemic …

N.C. private, charter schools reap millions in PPP loans – Jacksonville Daily News

N.C. private, charter schools reap millions in PPP loans  Jacksonville Daily News Source link

Greek central bank mulls ‘bad bank’ to clean up sour loans

People make their way past the National Bank of Greece headquarters in central Athens, Greece, …

Bank of America joins rivals in setting aside billions for bad loans

Bank of America’s profit slid 52% in the second quarter as the company joined rivals …

More than $116M in PPP loans for North Fork businesses, ‘Dine on 25’ begins tonight

The daily update is a podcast briefing on what’s happening across the North Fork. ​Get …

×