UniCredit , Italy's largest bank, on Wednesday said it will take an additional loan-loss provision of 900 million euros ($977 million) for the first quarter as it models the economic impact of COVID-19. For the eurozone, UniCredit sees GDP dropping 13%, followed by a 10% recovery in 2021, which is a more conservative assumption than the International Monetary Fund. UniCredit shares edged higher in Milan trade.
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South Korea set to post largest GDP contraction since 2008: Reuters pollSouth Korea's economy likely shrank at its sharpest pace since 2008 in the first quarter as the coronavirus health crisis ravaged business activity and global demand, a Reuters poll showed on Tuesday.
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Burger chain Shake Shack to return $10 million government loanShake Shack Inc will return the small business loan it received from the U.S. government, the burger chain's chief executive said on Monday, making it the first major firm to hand back money aimed at helping small businesses ride out the coronavirus impact.
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52 million people worry about losing their jobs as loans are slow to get to businessesThe fears come amid a stampede to the unemployment line brought about through government-ordered shutdowns of most nonessential businesses.
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Publicly traded firms get $300 million in small-business rescue loansA relief fund for small businesses amid the coronavirus crisis has wound up helping companies with thousands of employees and past regulatory run-ins.
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Here are the largest public companies taking payroll loans meant for small businessesThose that have received Paycheck Protection relief designed for small business include publicly traded firms with thousands of employees.
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Shake Shack Returns $10 Million Loan Meant For Small BusinessesExecutives for the burger chain Shake Shack say they will return the $10 million loan they received as part of the Paycheck Protection Program, a now-empty relief fund which was intended to help small businesses pay employees during the pandemic. What do you think?
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