America's $2trn stimulus includes loan guarantees that could fund more than twice as much in corporate borrowing. Who will need help?
encouraged to set enough aside for a rainy day. The covid-19 cloudburst means even the most prudent companies are rapidly exhausting their cash. Many will need a bigger umbrella that only the state can proffer.
Some flag-carriers have already been bailed out: Alitalia has been nationalised , Dubai has rescued Emirates and Singapore Airlines raised equity with the backing of Temasek, the city-state’s sovereign-wealth fund.In America, where two-thirds of global airline profits are made, vigorous lobbying helped carriers secure their own tailored package. A $50bn mix of loans and grants has been earmarked to keep them aloft.
The financial sector is the other traditional, if less beloved, candidate for state support. Insurers’ liability to covid-19 is, for instance, still unclear. Politicians in America are urging insurance firms to indemnify holders of policies protecting against business interruptions. The companies say these do not cover pandemics, and claim they could be on the hook for losses nearing $400bn a month if forced to do so.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Taylor Swift Donates Money to Nashville Record Store Amid PandemicTaylor Swift's paying the wages AND healthcare costs for all employees of a local Nashville store.
Read more »
Online Fitness Surges Amid CoronavirusBut is it enough to keep activewear and fitness brands afloat during the crisis?
Read more »
Kourtney Kardashian sobs and brands Khloe a 'f***ing b***h' during another rowKourtney and Khloe Kardashian are at each other's throats again in new Keeping Up With The Kardashians as they try to settle their issues once and for all
Read more »
Taylor Swift Keeps Nashville Record Store Afloat amid Coronavirus Pandemic: 'An Angel,' Says OwnerTaylor Swift is lending a helping hand to one Nashville record store that has temporarily closed its doors after struggling to stay afloat amid the…
Read more »
Taylor Swift pays to keep Nashville record store open for three monthsTaylor Swift has donated to Grimey's New and Preloved Music to keep it afloat during the COVID-19 crisis and is and providing healthcare for each of its employees
Read more »
Lady Gaga mortified as dad starts GoFundMe to keep restaurant afloatLady Gaga's dad had to layoff almost 30 employees until they are able to open again – despite his Stupid Love hitmaker daughter being worth an estimated $275million
Read more »