Richard Branson moved assets from the U.S. to the British Virgin Islands, highlighting his use of tax havens at a time one of his businesses sought a state bailout because of the coronavirus pandemic.
While some economists expect a V-shaped recovery, others say it will not be as sharp as the decline, and it could be years before output rises to pre-coronavirus levels.
The U.S. government’s $2.2 trillion stimulus package comes with a perk for high fliers: Flights are getting cheaper for some private-jet customers.
Few lenders are finding creative ways to provide much-needed financial advice and emergency services online.
This is normally the time of year when the federal government is collecting taxes due, but the devastating coronavirus now has the U.S. trying to rapidly dole out hundreds of billions of dollars in aid and tax breaks to businesses large and small.
Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury and the Fed to provide more comprehensive support.
Even as they still have to deal with tax season, the service is tasked with handling much of the stimulus packages.
S&P Global Ratings moved its outlook on Illinois' BBB-minus to negative from stable on "worsening economic conditions," an action that also impacted sales tax, convention center and sport facilities' bonds.
The potential for fraud fueled by the coronavirus pandemic, coupled with the anticipation of a $2 trillion stimulus, is creating such a lucrative opportunity for scammers that Visa and the Secret Service are predicting a wave of unprecedented levels of fraud.
Ally, Discover and USAA have made technological, managerial and policy changes to help their centers' employees cope with the rush of calls from customers hurt by the pandemic.