Sectors News Results

  • Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks--4th Update

    WASHINGTON-- Nine weeks after Congress approved its largest-ever economic relief measure to counter the coronavirus pandemic, most of the direct cash assistance aimed at keeping the economy afloat has been spent or committed. The so-called Cares Act included a projected $1.2 trillion in direct aid, ranging from expanded unemployment benefits and forgivable business loans to cash payments for households, hospitals, cities and states. Congress topped up that sum in April with...

  • Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks--3rd Update

    WASHINGTON-- Nine weeks after Congress approved its largest-ever economic relief measure to counter the coronavirus pandemic, most of the direct cash assistance aimed at keeping the economy afloat has been spent or committed. The so-called Cares Act included a projected $1.2 trillion in direct aid, ranging from expanded unemployment benefits and forgivable business loans to cash payments for households, hospitals, cities and states. Congress topped up that sum in April with...

  • Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks--2nd Update

    WASHINGTON-- Nine weeks after Congress approved its largest-ever economic relief measure to counter the coronavirus pandemic, most of the direct cash assistance aimed at keeping the economy afloat has been spent or committed. The so-called Cares Act included a projected $1.2 trillion in direct aid, ranging from expanded unemployment benefits and forgivable business loans to cash payments for households, hospitals, cities and states. Congress topped up that sum in April with...

  • Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks--Update

    WASHINGTON-- Nine weeks after Congress approved its largest-ever economic relief measure to counter the coronavirus pandemic, most of the direct cash assistance aimed at keeping the economy afloat has been spent or committed. The so-called Cares Act included a projected $1.2 trillion in direct aid, ranging from expanded unemployment benefits and forgivable business loans to cash payments for households, hospitals, cities and states. Congress topped up that sum in April with...

  • Coronavirus Stimulus Funds Are Largely Depleted After Nine Weeks

    WASHINGTON-- Nine weeks after Congress approved its largest-ever economic relief measure to counter the coronavirus pandemic, most of the direct cash assistance aimed at keeping the economy afloat has been spent or committed. The so-called Cares Act included a projected $1.2 trillion in direct aid, ranging from expanded unemployment benefits and forgivable business loans to cash payments for households, hospitals, cities and states. Congress topped up that sum in April with...

  • Supreme Court Upholds Puerto Rico Oversight Board -- 3rd Update

    WASHINGTON-- The Supreme Court unanimously rejected a challenge to the federal financial rescue plan for Puerto Rico's territorial government, finding Monday that the board Congress created to resolve the island's debt crisis meets constitutional standards. Bondholders including Aurelius Capital Management LP, a hedge-fund manager that bet on Puerto Rico's debt, sued to try to disrupt the bankruptcy proceedings begun by the board to restructure roughly $125 billion in...

  • Supreme Court Upholds Puerto Rico Oversight Board -- 2nd Update

    WASHINGTON-- The Supreme Court unanimously rejected a challenge to the federal financial rescue plan for Puerto Rico's territorial government, finding Monday that the board Congress created to resolve the island's debt crisis meets constitutional standards. Bondholders including Aurelius Capital Management LP, a hedge-fund manager that bet on Puerto Rico's debt, sued to try to disrupt the bankruptcy proceedings begun by the board to restructure roughly $125 billion in...

  • Supreme Court Upholds Puerto Rico Control Board -- Update

    WASHINGTON-- The Supreme Court unanimously rejected a challenge to the federal financial rescue plan for Puerto Rico's territorial government, finding Monday that the board Congress created to resolve the island's debt crisis meets constitutional standards. Bondholders including Aurelius Capital Management LP, a hedge-fund manager that bet on Puerto Rico's debt, sued to try to disrupt the bankruptcy proceedings begun by the board to restructure roughly $125 billion in...

  • Slow Economic Recovery Could Squeeze Smaller Lenders

    A slow economic recovery could test the strength of nonbank lenders, forcing many to raise capital if the businesses that have borrowed from them struggle to recover or shut down after the lockdown enforced during the coronavirus pandemic. Business development companies that lend to small- and medium-size companies expanded rapidly over the past decade, with publicly traded BDCs increasing total assets by nearly fourfold to $83.6 billion as of the first quarter of 2020,...

  • House Passes Bill Loosening Rules on PPP Small-Business Loans -- 2nd Update

    WASHINGTON-- The House approved a bipartisan bill that would loosen requirements on hundreds of billions of dollars in small-business loans, responding to concerns from employers struggling to stay open during the coronavirus pandemic. The House bill reduces the level of Paycheck Protection Program funds that must be used for payroll to 60% from 75%. The bill also gives borrowers up to 24 weeks to use the funds, up from the eight set in the initial bill passed in March, and extends...

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News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.