Bloomberg General Motors Co. is in discussions with banks to raise a new $2 billion loan to increase liquidity as it deals with a continuing slump in consumer demand caused by the coronavirus pandemic. The loan is structured as a 364-day revolving credit facility and is a precautionary measure to raise company’s liquidity, the people said, asking not to be ...

Bloomberg The Trump administration extended the date that companies can return loans from a popular coronavirus relief program without paying a penalty by one week to May 14. The US Treasury Department and Small Business Administration (SBA) had set May 7 as the date for firms that had improperly taken loans from the Paycheck Protection Program to repay them, but ...

Bloomberg Chancellor of the Exchequer Rishi Sunak is examining ways to move millions of workers off government support and back into their jobs as the UK leaves its lockdown. In March, as the UK went into lockdown to slow the spread of coronavirus, Sunak announced a furlough program where workers received 80% of their wage to stay home. It’s now ...