Oversight Members for CARES Act Announced, Chairperson Yet to Be Named
Republican and Democratic leaders have announced most of the members of a congressional panel to oversee the implementation of the CARES Act, a $2.2 trillion rescue package that provides economic relief amid the CCP virus pandemic. The chairperson of the panel is yet to be named. President Donald Trump signed the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” (H.R. 748) on March 27, 2020, amid severe economic disruptions caused by the CCP (Chinese Communist Party) virus, also known as the novel coronavirus. The five-member Congressional Oversight Commission is one of three mechanisms created by the CARES Act to oversee its implementation. Specifically, the commission will focus on the activities of the Treasury Secretary and the Federal Reserve, including a $500 billion fund to be distributed by the Treasury Department…
A strong earthquake shook the Ogasawara Islands south of mainland Japan Saturday.
The Japan Meteorological Agency initially said the quake measured 6.9 in magnitude. The agency later listed the magnitude as 6.0.
The quake was centered in the Pacific Ocean, about 885 kilometers (550 miles) south of Shizouka, Japan, to the west of the Ogasawara Islands, which are also known as the Bonin Islands.
The earthquake’s epicenter was 490 kilometers (305 miles) deep. There was no tsunami threat.
There are no reports of damage or injuries.
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This article is from the Internet:Strong Earthquake Rattles Japanese Islands
Ford Issues $8 Billion Debt Securities After Virus Causes $2 Billion Loss
Ford Motor Co. on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the COVID-19 outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter. The Dearborn Michigan-based company, which lost its investment-grade status in March, raised new funds with a three-part debt offering, according to a regulatory filing. Investors said Ford benefited from the U.S. Federal Reserve’s move last week to backstop debt offerings by companies that lost investment-grade credit ratings after the COVID-19 crisis accelerated in the United States, International Financing Review reported on Friday. “Today’s deal is a good sign of the growing confidence around the improving market backdrop with respect to liquidity as well as more promising views around the economic…
