KEY POINTS Personal finance start-up SoFi has agreed to buy Utah-based payment processor Galileo for $1.2 billion. Deal talks began before “things got challenging,” but they were able to continue despite the coronavirus slowdown, SoFi CEO Anthony Noto says. Galileo has been around for a
KEY POINTS The Paycheck Protection Program will lend up to $349 billion in forgivable loans to small businesses hurt by the coronavirus fallout. The Small Business Administration program may not forgive as much of the loans as business owners think. At least 75% of the
KEY POINTS Exxon is cutting its capital spending by 30% as the coronavirus pandemic continues to hammer oil prices. The company is “committed to maintaining” its dividend, CEO Darren Woods said Tuesday on CNBC’s “Squawk Box.” Shares of Exxon gained 1.9% on Tuesday, but are
KEY POINTS The coronavirus pandemic continues to pose unprecedented challenges to the renewable energy sector. Firms are attempting to juggle production targets with increasingly tough lockdown measures. Danish wind turbine manufacturer Vestas has suspended guidance for 2020, as the coronavirus pandemic continues to pose unprecedented
Pinterest — Shares of the social media company soared 14% in extended trading after Pinterest released preliminary results ahead of its first-quarter earnings call in May. The company expects revenue ranging from $269 million to $272 million in the first quarter. It anticipates 365 million to 367 million
Dow Jones Industrial Average fell 26 points The Dow lost 26.13 points, or 0.12%, to 22,653.86. The S&P 500 fell 0.16% to 2,659.41. The Nasdaq Composite dropped 0.33% to 7,887.26. Stocks gave up a massive rally from earlier in the day as Wall Street assessed the latest news on the coronavirus
KEY POINTS President Donald Trump removed the lead watchdog overseeing the $2 trillion coronavirus fund. Acting Pentagon Inspector General Glenn Fine was tapped to lead the Pandemic Response Accountability Committee last week. By removing him from his Pentagon post, Trump makes Fine ineligible to lead the