Bloomberg Carson Block is predicting a plunge in stocks after they roared back from the coronavirus sell-off in March. “The direction has to be sharply downward,” the renowned short seller and founder of Muddy Waters Capital said. Block finds it hard to believe equities are trading at their current valuations even though demand has been “crushed” by the virus and …

Bloomberg Bank of America Corp. (BofA) received approval for 265,500 small-business loans totaling $24.9 billion in relief funds from the Small Business Administration’s Paycheck Protection Program. Since the program reopened on April 27, the bank has sent 213,000 promissory notes to small businesses informing them that their loans were approved by the SBA, Bank of America said Monday in a …

Bloomberg Canadian business loans grew at the fastest pace since 1981 in March as companies tapped credit lines to get them through the coronavirus crisis. Loans to businesses rose 54% annualised to C$949.2 billion ($668 billion), according to Bank of Canada data. The increase is the sharpest since 1981, reflecting the rush to borrow to stay afloat as countrywide shutdowns …