Fed Names Banks in $600 Billion Main Street Lending Program

The Fed published a partial list of banks and credit unions participating in its Main Street Lending Program in a bid to drum up interest among small and midsize companies trying to weather the coronavirus recession.

 
GM's Suit Against Rival Fiat Chrysler Quashed by Federal Judge

In a lawsuit GM had accused its rival auto maker of bribing union officials to gain an advantage on its labor costs.

 
United Warns It May Cut Almost Half Its U.S. Workforce

United Airlines said it could be forced to shed almost half its U.S. workforce, telling 36,000 employees that they could be furloughed from Oct. 1 because of the pandemic-driven slump in passenger demand.

 
YRC Lenders Agree to Extend Trucker's Debt Terms

YRC Worldwide's lenders gave the troubled trucker a three-and-a-half year reprieve on its heavy debt load as the company prepares for a $700 million federal bailout package.

 
Dan Gilbert Will Keep Voting Control at Quicken Loans Parent After IPO

Detroit businessman and Cleveland Cavaliers owner Dan Gilbert spent the past 35 years building Quicken Loans into a mortgage lending giant and an extension of his personal brand. That won't stop when the company goes public.

 
Disney World Set to Reopen With Capacity Limits, Strict Rules

Walt Disney is counting on die-hard fans to weigh the risks of traveling amid the pandemic and head to its flagship theme park in Orlando. It will begin opening Walt Disney World in phases starting Thursday, in the most crucial test yet of its ability to resume operations while keeping consumers safe.

 
Wirecard Under Criminal Scrutiny in Probe of Alleged Bank Fraud

The Justice Department is examining whether scandal-plagued German payment company Wirecard played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, according to people familiar with the investigation.

 
Earnings Forecasts Are Too Dire, but Still Proceed With Caution

There is a tendency for analysts to set a low bar for earnings even in normal times. In the second quarter that tendency may have gone into hyperdrive.

 
Alcoa Counters Weak Demand With Cost Cuts

The aluminum company said job cuts and other cost reductions helped trim losses stemming from weak product prices as the coronavirus pandemic weighed on the industrial economy.

 
Allstate to Buy Rival Insurer National General for $4 Billion

Allstate said the all-cash deal will help boost its business in the personal property-liability sector.

(END) Dow Jones Newswires

July 08, 2020 17:00 ET (21:00 GMT)

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