Paya CEO Jeff Hack By Jarrett Banks Going to the doctor used to be a chore. But after Covid-19 changed everyones lives forever, the explosion of telemedicine and the digital payments that go with it has meant nothing less than a revolution for the healthcare industry. And thats just one of the many industries that 
Secretary of State Mike Pompeo reportedly warned Russia's foreign minister last month about alleged bounty payments that Russia offered Taliban militants to target U.S. troops in Afghanistan.Pompeo warned Russian foreign minister Sergey Lavrov against placing bounties on the heads of American soldiers during a July 13 phone call, the New York Times reported, citing unidentified U.S. officials. The phone call was officially about a separate topic, the possibility ofmeeting between the five permanent members of the United Nations Security Council, two of which are the U.S. and Russia along with China, France, and Britain.The secretary of state expressed Washington's intense opposition to the bounty program but spoke in terms of payouts and red lines and did not speak about the specific intelligence indicating that Russia paid Taliban fighters and other Afghanistan militants to kill U.S. service members.Reports broke in June that U.S. intelligence found that at least one American soldier, as well as a number of Afghan civilians, died as a result of the secret bounty payments.Intelligence about the alleged bounty offerings by Russia was reportedly included in the presidents daily written intelligence briefing in February, but the White House claims Trump was not verbally briefed on the matter until the New York Timess June 26 report on the issue. The Timesreported that some bounties as high as $100,000 were paid for each U.S. or allied troop killed. TheWashington Post said in a similarreportthat several American service-members died as a result of monetary rewards that a Russian military intelligence unit offered to terrorist militants to target U.S. and allied forces in Afghanistan.Last month, President Trump said he has never discussed the intelligence with Russian President Vladimir Putin despite several phone calls between the two heads of state since the intelligence was made known.That was a phone call to discuss other things, and frankly thats an issue that many people said was fake news, Trump said duringan interview with Axios on HBO.
Motley Rice LLC is investigating whether certain officers and directors of World Acceptance Corp. (NASDAQ: WRLD) breached their fiduciary duties to shareholders. World Acceptance Corp. is a consumer loan company headquartered in Greenville, S.C.
By Jonnelle Marte
(Reuters) - A key Federal Reserve official told a congressional watchdog on Friday that participation in a $600 billion loan program meant to carry small and medium-sized firms through the coronavirus crisis would expand rapidly if the pandemic or economy worsened.
American businesses have tapped only a fraction of the funds available through the Main Street Lending Program launched by the U.S. central bank last month, spurring criticism the program was too restrictive and set up too late to help employers.
Should the pandemic and the economy worsen, or financial institutions experience larger-than-expected loan losses and depletion of capital all things we hope do not happen then I would expect interest in using this program to expand more rapidly, Boston Fed President Eric Rosengren said in testimony before the Congressional Oversight Commission, a bipartisan panel overseeing efforts by the Fed and Treasury Department to stabilize the economy during the crisis.
The Boston Fed is administering the Main Street program.
More than $530 million in potential loans were active in the Main Street portal as of Aug. 4, representing 54 loans, Rosengren said. That includes $109 million in loans that have been settled with commitments for purchase, he said.
But some members of the commission, which includes two Republican lawmakers, a Democratic lawmaker and a Democratic political advisor, said businesses are already suffering, raising questions about whether the parameters of the program were too restrictive.
Main street companies are already getting crushed, said Bharat Ramamurti, an attorney and former economic policy adviser for Senator Elizabeth Warrens 2020 presidential campaign. Ramamurti cited surveys showing that companies are going ahead with layoffs and furloughs after suffering large drops in revenue.
How much worse do things have to get before companies are interested in the Main Street Lending Program, Ramamurti said.
The Fed this week disclosed details on some of the specific loans issued through the program, under which it will buy 95% of a loan initiated by a private lender to a qualified business. The largest loan so far, worth $50 million, went to a resort in Pennsylvanias Pocono Mountains, the Fed said. The next largest was the programs first-ever loan, $12.3 million to a dental practice network in Wisconsin.
Since registration opened in mid-June, 509 financial institutions have signed up with the Main Street Lending Program, Rosengren said. Only 153 lenders were willing to be part of a list on the Boston Fed's website here of lenders that are accepting new borrowers through the program.
Reporting by Jonnelle Marte; Editing by Paul Simao.
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New York schools can reopen this fall provided they meet certain criteria, Governor Andrew Cuomo said Friday, as most American children get ready to start the new academic year remotely. Cuomo's announcement highlights how far New York -- once the epicenter of the US's COVID-19 outbreak with more than 32,000 deaths -- has come in its battle against the deadly virus. The governor said that school districts will be allowed to resume classroom teaching in areas where the average rate of positive tests is below five percent.
The 2021 Ford Bronco is chock full of off-road capability, even more so on some trim levels. One of the nifty off-road features is called the Trail Turn Assist, and it's designed to help the Bronco negotiate particularly tight corners.
Democrats on Friday urged the White House to stick with negotiations on a new aid plan for Americans facing hardship due to the coronavirus pandemic, after Donald Trump said he is ready to bypass Congress to maintain emergency assistance. Nancy Pelosi, the Democratic speaker of the House of Representatives, and Chuck Schumer, the minority leader in the Senate, have been tussling for weeks with Trump envoys over a new aid package.
INVESTOR DEADLINE ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Endo International plc and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
FINAL DEADLINE APPROACHING: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Chembio Diagnostics, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
(Bloomberg) -- United Parcel Service Inc. and FedEx Corp. shares jumped after the couriers said they are raising prices aggressively to boost profit and help manage an avalanche of residential deliveries spurred by the coronavirus pandemic.UPS plans to apply holiday season surcharges of as much as $4 a package for shippers that send more than 25,000 parcels a week and whose peak-season volume is triple Februarys level. On the low end, the charge is $1 a package for ground deliveries for shippers with volume at least 10% above Februarys level. UPS, which skipped the peak-season fees last year, charged less than $1 extra per package in 2018.FedEx will boost international surcharges on select routes beginning Aug. 10. Deliveries to the U.S. from Hong Kong will double to $2 a kilo and from Taiwan will jump to $1 from 22 cents. FedEx has said it plans to apply holiday surcharges as well.UPS, FedEx and other couriers have been hit with unprecedented residential package volume amid the pandemic. Deliveries to homes can be more costly than those to businesses because there are typically fewer packages per stop and more distance between locations.The surge in demand has given couriers leverage to raise prices, however. UPSs average U.S. volume climbed 23% in the second quarter from a year earlier, and FedEx U.S. ground deliveries jumped 20% in its latest quarter.UPS increased 7.4% to $156.19 at 12:54 p.m. in New York, while FedEx climbed 5.3% to $181.37. UPS advanced 24% this year through Thursday, while FedEx gained 14% and the S&P 500 rose 3.7%.The peak surcharges reflect current market conditions caused by the pandemic, which includes consumer demand and available capacity, Atlanta-based UPS said by email Friday. The fees will help balance the volume in UPSs network so we can provide the best possible service.Its holiday surcharges apply from Nov. 15 to Jan. 16. From Oct. 4 through Jan. 16, the company will also charge $50 for each large package and $250 for deliveries that exceed maximum limits, according to UPSs website.The companies that are going to be hurt by these surcharges are the companies that can least afford it at this point, and thats retailers, said John Haber, chief executive officer of Spend Management Experts, a package shipping consulting firm.Many retailers have turned to e-commerce as a lifeline while customers stayed away from stores because of the virus, he said, and only strong merchants such as Amazon.com Inc. and Walmart Inc. will likely be able absorb the surcharges without passing them on to customers.FedEx began to apply international surcharges in April as volumes jumped and commercial airlines, which carry some cargo in the belly of their planes, reduced flights dramatically. The company is incurring extra costs because of virus-related restrictions by countries seeking to contain the spread.Those restrictions continue to disrupt the global supply chain, the Memphis, Tennessee-based company said by email. Air cargo capacity is limited, and we are incurring incremental costs as we adjust our international networks.FedEx and UPS arent expected to boost capacity much in the medium term, said Stephens analyst Jack Atkins. Combined with the surge in residential packages and international demand, that means the couriers will have the upper hand on price for a while, he said in a note Friday before the surcharges were announced.We believe the pricing story in parcel has legs, he wrote.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.
(Bloomberg) -- U.S. tech stocks slumped as the White House ramped up its confrontation with China and investors weighed doubts that lawmakers will be able to agree on a new round of economic stimulus.The Nasdaq Composite Index pared a weekly gain as heavyweights including Apple Inc., Microsoft Corp. and Amazon.com Inc. headed lower. Small-cap stocks outperformed, lifting the Russell 2000. While Julys payrolls report provided some support as unemployment fell, there was also concern it could ease pressure on officials to reach a deal on aid. Top figures planned an afternoon meeting in Washington.Traders kept a wary eye on President Donald Trumps latest attack on Chinese tech companies and a plan to sanction Hong Kongs chief executive. The dollar strengthened on haven demand, while gold retreated for the first time in six days. Europes benchmark stock gauge edged higher, reversing earlier losses.Trump Ban on Top Messaging App Risks Snarling Global BusinessWith negotiations over a new U.S. relief package said to be on the brink of collapse after a meeting Thursday between White House officials and top congressional Democrats, theres now concern that the fairly positive payrolls number wont help.If this had been a bad number, it would have forced the negotiators to get a deal done, said Matt Maley, chief market strategist at Miller Tabak & Co. So in a perverse way, the better-than-expected data raises the odds that nothing will get done soon on the fiscal front.WeChat operator Tencent Holdings Ltd. slumped 5% in Hong Kong after Trump signed executive orders prohibiting U.S. residents from doing any business with WeChat, TikTok or the apps Chinese owners.Elsewhere, oil slumped along with copper.These are some of the main moves in markets:StocksThe S&P 500 Index fell 0.3% as of 1:11 p.m. New York time.The Stoxx Europe 600 Index rose 0.3%.The MSCI Asia Pacific Index declined 1.3%.The MSCI Emerging Market Index declined 1.7%.CurrenciesThe Bloomberg Dollar Spot Index gained 0.7%.The euro sank 0.9% to $1.1774.The Japanese yen weakened 0.4% to 105.98 per dollar.BondsThe yield on 10-year Treasuries rose three basis points to 0.56%.Germanys 10-year yield rose two basis points to -0.51%.Britains 10-year yield rose three basis points to 0.14%.CommoditiesWest Texas Intermediate crude fell 1.8% to $41.18 a barrel.Gold weakened 1.7% to $2,028.34 an ounce.Copper fell 3.7% to $2.802 per pound.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.
SmartStop Self Storage REIT, Inc. ("SmartStop" or the "Company" ), a self-managed and fully-integrated self-storage company with approximately $1.6 billion of self storage assets under management, today announced the completion of the first solar panel project as part of a broader Company-wide initiative to reduce SmartStop's carbon footprint and become more energy efficient. The project at Mt. Pleasant was designed and installed in cooperation with Warner Energy, LLC.
(Bloomberg) -- The U.S. labor markets third straight month of solid improvement from the depths of the pandemic could very well be its last for a while.Workers returned to low-wage jobs at restaurants and retailers, as major cities -- especially New York -- continued to reopen early in the month. Since then, though, many measures of activity have leveled off and a key relief program has expired with no agreement on a new deal. The July jobs report also showed that millions of Americans who lost their jobs in the early days of the pandemic remain unemployed, with the overall rate still almost triple the pre-crisis level.Weve had the easy gains and the labor market is becoming a little more difficult now, said Brett Ryan, senior U.S. economist at Deutsche Bank AG. Going forward, the expectation should be a gradual step-down and it may not be a straight line in terms of improvement every month.Employers added 1.76 million jobs in July, about 300,000 more than economists expected, according to data Friday from the Labor Department. The unemployment rate fell by about 1 percentage point to 10.2%, just above the peak following the 2008 financial crisis but a marked decline from almost 15% at the height of the pandemic.Further job gains are looking increasingly difficult with no vaccine yet in sight, and several signs point to weakness in months ahead: a federal $600 supplement to weekly unemployment benefits, which provided extra cash to prop up households, expired at the end of July. That means fewer dollars spent into the economy and at businesses, which also face the end of funds through the Paycheck Protection Program.The jobless payments are particularly important with millions unemployed for months now. Out of the 16.3 million unemployed Americans in July, almost 8 million had been out of work for 15 weeks or longer, or roughly since the start of the pandemic. That figure was up 4.7 million from June.Meanwhile, negotiations over extending the relief have stalled.The talks are rather stalemated right now, White House economic adviser Larry Kudlow said on Bloomberg Television after the report Friday. Despite that, President Donald Trump plans to use executive orders to get certain priorities through including a payroll tax cut and eviction moratorium, he said. Kudlow continued to call the economic recovery V-shaped.But that recovery is on pause, casting a shadow over the labor market. High-frequency indicators show that economic and payroll activity slowed or declined in the weeks following the survey period for the governments jobs report, which takes place early in the month.What we have is an economy thats still adding back but with the slowing in the reopening, were setting August up for a very questionable report, said Joel Naroff, president of Naroff Economics LLC.Read more: Bloombergs TOPLive blog on the jobs reportU.S. equities were mixed on Friday as investors weighed doubts that lawmakers will be able to agree on a new round of economic stimulus with a better-than-forecast jobs report.What Bloombergs Economists SayFollowing an unprecedented swing from severe drop to sharp rebound, the economy is entering more conventional recession dynamics. A prolonged period of elevated unemployment and subdued participation in the labor market will weigh heavily on income growth, personal spending and top-line growth.\-- Yelena Shulyatyeva, Andrew Husby and Eliza WingerClick here for the full noteLow-wage sectors led gains: payrolls at restaurants jumped by half a million, retail trade employment also increased, though at a slower pace, with more than 250,000 jobs added. Health care and social assistance payrolls rebounded as doctors offices continued to open and as demand for day care increased.Manufacturing employment rose just 26,000 in July, about one-tenth of forecasts. Auto makers added more than 39,000 workers.Government PayrollsThe report also showed a 241,000 jump in local-government employment, reflecting seasonal adjustments in the education sector.While companies are hiring, including Amazon Inc., Alphabet Inc., Ford Motor Co. and D.R. Horton Inc., layoffs have been piling up in recent weeks, particularly in industries most affected by the pandemic. American Airlines Group Inc. advised that 25,000 jobs are at risk when aid expires and United Airlines Holdings Inc. said it would furlough one-third of its pilots. L Brands Inc., which owns Victorias Secret, said it would lay off 15% of its workforce.The July jobs report also showed little improvement for Black Americans, with their unemployment ticking down only slightly to 14.6%, compared with 12.9% for Hispanic workers, and 9.2% for Whites. The jobless rate for women, who carry the most responsibility for childcare and homecare duties, fell to 10.5% and for men it dropped to 9.4%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.2020 Bloomberg L.P.
Postmaster General Louis DeJoy Modifies Organizational Structure to Support USPS MissionPR NewswireWASHINGTON, Aug. 7, 2020Three Operating Units Created to Increase Efficiency and Better Serve CustomersWASHINGTON, Aug.