Colin Kaepernick helps start defense fund for people arrested protesting George Floyd death

Former NFL quarterback Colin Kaepernick has helped start a fund to provide defense lawyers for those who are arrested in Minneapolis protesting the police killing of George Floyd. Kaepernick has created the Know Your Rights Camp Legal Defense Initiative web page, which says it has identified top lawyers “to provide legal resources for those in […]

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Connecticut hedge fund may back NYC taxi rescue plan

A secretive hedge fund that has become the biggest owner of New York City taxi medallion loans is showing signs that it may come to the table for an emergency deal to save the city’s cash-strapped cabbies, city officials say. Marblegate Asset Management — a Greenwich, Conn.-based fund that owns roughly 4,300 taxi medallions and […]

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Collapse in consumption dragging down global economic outlook: IMF

© Reuters. International Monetary Fund Chief Economist Gita Gopinath takes questions at the annual meetings of the IMF and World Bank in Washington By David Lawder and Andrea Shalal WASHINGTON (Reuters) – A collapse in consumption and other data point to a downward revision of the International Monetary Fund’s already pessimistic outlook for the global […]

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Anthony Scaramucci moves $290M to three major hedge funds amid rough 2020

After a brutal start to 2020, hedge fund manager and ex-White House communications director Anthony Scaramucci is turning to the big boys for help. In a letter to investors obtained by The Post — to be released Monday night — Scaramucci has told investors of his $9 billion fund-of-funds, Skybridge Capital, that he’s allocating $290 […]

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Cities, States That Tap Fed’s $500 Billion Fund Face Big Penalty

© Reuters. Cities, States That Tap Fed’s $500 Billion Fund Face Big Penalty (Bloomberg) — The Federal Reserve is designing its lending program for U.S. states and cities in a way that will likely deter cash-strapped governments from using it. Even municipalities with the most pristine finances — bearing AAA ratings — would pay an […]

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IMF confirms $643 million in aid for Ecuador, says more support needed

© Reuters. Outbreak of the coronavirus disease (COVID-19) in Guayaquil WASHINGTON (Reuters) – The International Monetary Fund on Saturday confirmed it had approved $643 million in emergency assistance for Ecuador, but said the Andean country would need additional support from other external partners to respond to the coronavirus pandemic. IMF Managing Director Kristalina Georgieva said […]

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IMF approves $650 million in emergency pandemic aid for Dominican Republic

WASHINGTON (Reuters) – The International Monetary Fund said on Wednesday its executive board had approved $650 million in emergency financial assistance to help the Dominican Republic respond to the coronavirus pandemic. The emergency assistance will help the Caribbean nation meet urgent balance of payments needs and support essential health expenditure to combat the COVID-19 disease […]

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Hedge funds, private equity firms barred from PPP loans

Hedge fund and private equity firms are not eligible for the types of US government loans designed to provide relief to small businesses from the economic hardship of the coronavirus outbreak, the Small Business Administration said on Friday. “Hedge funds and private equity firms are primarily engaged in investment or speculation, and such businesses are […]

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Broadway’s TKTS booth starts fundraiser to stem coronavirus losses

The Theatre Development Fund, the not-for-profit organization with services including the hugely popular TKTS discount ticket booths in Times Square and other New York City locations, is launching a fundraising drive to “sustain critical operations” during and after the COVID-19 Broadway shutdown. TDF’s “Lifeline Campaign: Protect Today, Rebuild Tomorrow” has set a goal of $500,000 […]

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IMF, World Bank pledge help amid calls for more debt relief

The 189-nation International Monetary Fund and its sister lending agency, the World Bank, are pledging to step up their efforts to cushion the blow to global economy from the coronavirus pandemic By MARTIN CRUTSINGER AP Economics Writer April 17, 2020, 7:37 PM 4 min read 4 min read WASHINGTON — The 189-nation International Monetary Fund […]

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U.S. opposition seen stalling major IMF liquidity boost

© Reuters. FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington By David Lawder and Andrea Shalal WASHINGTON (Reuters) – U.S. opposition is expected to prevent the International Monetary Fund this week from deploying one of its most powerful tools to help countries fight […]

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I.M.F. Predicts Worst Downturn Since the Great Depression

WASHINGTON — The International Monetary Fund issued a stark warning on Tuesday about the coronavirus’s economic toll, saying that the world is facing its worst downturn since the Great Depression as shuttered factories, quarantines and national lockdowns cause economic output to collapse. The grim forecast underscored the magnitude of the shock that the pandemic has […]

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IMF chief economist says 100 countries seek pandemic aid; more resources may be needed

© Reuters. International Monetary Fund Chief Economist Gita Gopinath takes questions at the annual meetings of the IMF and World Bank in Washington WASHINGTON (Reuters) – The International Monetary Fund views its $1 trillion in lending capacity as “quite substantial” to help members deal with the coronavirus pandemic, but further resources may be needed as […]

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Coronavirus ‘Great Lockdown’ will shrink global economy by 3% in 2020: IMF

2/2 © Reuters. FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington 2/2 By David Lawder WASHINGTON (Reuters) – The global economy is expected to shrink by 3.0% during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since […]

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Coronavirus ‘Great Lockdown’ to shrink global economy by 3% in 2020: IMF

2/2 © Reuters. FILE PHOTO: The International Monetary Fund (IMF) headquarters building is seen ahead of the IMF/World Bank spring meetings in Washington 2/2 By David Lawder WASHINGTON (Reuters) – The global economy is expected to shrink by 3.0% during 2020 in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since […]

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UN releases $2.5 million to help cyclone-ravaged Vanuatu

The United Nations has released $2.5 million from its emergency humanitarian fund to help thousands of people in the South Pacific island nation of Vanuatu affected by Cyclone Harold and offered support to other hard-hit countries By EDITH M. LEDERER Associated Press April 14, 2020, 4:54 AM 3 min read 3 min read UNITED NATIONS […]

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