In a significant development, a draft EU plan shows that the bloc is weighing an option to create a joint military force of up to 5,000 troops by 2025 which can intervene in a range of crises without relying on… Read More ›
rescue
Germany agrees to $9.74 billion rescue package for Lufthansa
In a report on Tuesday, Business Insider stated citing sources familiar with the matter at hand as saying, the German government has agreed to provide Lufthansa with a financial rescue package worth around $9.74 billion (9 billion euros) in return… Read More ›
Millions of small U.S. firms set to tap $2.2 trillion Paycheck Protection Program on Friday
According to a senior official from the Trump Administration, millions of applicants are likely to tap its $350 billion small-business coronavirus rescue loan program when it launches on Friday. Officials from the U.S. Treasury and Small Business Administration, which are… Read More ›
Intesa rulls out leading consortium for rescue effort for Carige
Intesa’s CEO has ruled out leading a rescue effort for Carige. On Wednesday, Intesa Sanpaolo’s Chief Executive Carlo Messina stated, it will not invest any more into an industry fund that could come to the rescue of struggling regional lender… Read More ›
ECB monitoring situation at Banca Carige following BlackRock’s pullout
On Thursday, BlackRock pulled out from a rescue effort citing exceesive risks among other reasons. Following BlackRock’s pullout from rescuing ailing Italian lender Banca Carige, the European Central Bank got in touch with special administrators who run the bank, said… Read More ›
London jury dismissed in landmark Barclays-Qatar case
Judge Robert Jay told the entire jury that their services are no longer required. In a landmark case revolving around fraudulent transactions perpetuated by four former Barclays executives who had been accused of paying Qatar undisclosed fees to help rescue… Read More ›
GM to make South Korea its Asia-Pacific hub
This preliminary deal essentially sets the foundation for Detroit-based General Motors landmark deal, to be signed on May 11 with the South Korean government, which will see it set up its Asia-Pacific HQ in the country. The deals are aimed… Read More ›
South Korea offers $37 million in financial aid to GM Korea
The financial support of up to $37 million to small and medium sized companies who are affected by on of GM’s Korea’s plant, could be extended to more depending on the overall impact the closure will have on these companies… Read More ›
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