It’s not typical for a bankruptcy court hearing to fall on a Saturday, and it’s nearly unprecedented for it to happen by phone. But as the coronavirus has battered the U.S. economy, J.C. Penney must navigate almost entirely uncharted territory as it looks to shed debt and emerge from bankruptcy a stronger company. The iconic […]
Archives for 2020
SBA releases PPP forgiveness form but AICPA urges more detail
The U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury, released an application form Friday for Paycheck Protection Program (PPP) loan forgiveness along with instructions for completing the form. The form and instructions offer borrowers details on how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, […]
Top 5 Learning Apps for Business in 2020
Learning Apps for Business – Improving skills and educating yourself is extremely important nowadays. You can grow your business and become successful by enhancing the skills of your employees and yourself. One of the simplest ways to improve your skill and enhance knowledge is via learning apps. There are multiple e-learning apps available online. You […]
Private creditors push back against blanket debt relief for Africa
LONDON (Reuters) – Prominent emerging market creditors have created a working group to help heavily-indebted African countries with the economic impact of COVID-19, but have criticised G20 calls for blanket debt relief. The Africa Private Creditor Working Group (AfricaPCWG) said it was coordinating the views of over 25 asset managers and financial institutions representing total […]
House Democrats pass $3 trillion coronavirus relief package
U.S. Representative Nancy Pelosi (D-CA) speaks at her weekly press conference. Michael Brochstein | Barcroft Media | Getty Images House Democrats on Friday passed a $3 trillion coronavirus relief package, unprecedented spending Senate Republicans have pledged to block as the major parties struggle to find a path forward on the pandemic response. The chamber also […]
Card payments in March fall 24% in 2 months
Value of debit and credit card usage dropped 24% in March 2020 to Rs 1.15 lakh crore from the Rs 1.5 lakh crore registered just two months earlier in January. The number of card swipes also fell 20% to 53.5 crore this March from 66.5 crore in January. The numbers seem to indicate that consumer […]
Freelance jobs rise as firms get used to WFH
Illustration: Rahul Awasthi Demand for freelance jobs is on the rise as organisations get increasingly used to virtual workplace and remote working, and some also look to cut fixed employee costs post the Covid-19 outbreak. Flexing It, a gig platform for freelance and project-based work, said there was a 75% spike in the number of […]
Film producers and multiplexes at loggerheads over video streaming releases
After film producers started talks with leading video streaming services to directly release their films on the OTT platforms, a war of words has broken out between the producers and the multiplexes who are miffed at producers skipping the ‘theatrical window’. Theatrical window is the period between a film’s release in movie theaters and its […]
Ecomm firms play it safe, give staff digital lessons
Illustration: Rahul Awasthi India’s top technology companies are providing digital training to blue- and grey-collar workers as well as external stakeholders like corner stores, as they scale up operations almost overnight amid an acute labour shortage because of the Covid-19 pandemic. Startups including Swiggy, Zomato, Grofers, BigBasket and Flipkart among others have had to impart […]
Accountants worried about losing clients amid the pandemic – Accounting Today
Client attrition is the issue that’s keeping the most accounting firm leaders up at night amid the upheavals of the coronavirus pandemic, according to a new survey — even as a third of those leaders struggle to balance their work with the new personal responsibilities brought on by the new environment. The research, conducted by […]