Trump’s company seeks to defer payments as coronavirus rages on
Washington DC [USA], Apr 3 (ANI): Due to COVID-19 outbreak, businesses around the world are struggling to maintain their financial health. US President Donald Trump’s company is no exception. It is asking its primary lenders to for breathing space amid the global pandemic, The New York Times reported.
With some of its major hotel chains closed amid the economic lockdown in the US, the Trump Organisation is looking for postponing payments on some of its financial obligations, including loans from its biggest creditors, The New York Times reported. “These days everybody is working together. Tenants are working with landlords, landlords are working with banks. The whole world is working together as we fight through this pandemic,” said Eric Trump, the president’s son, who helps manage the business.
Last week, Trump had announced a USD 2.2 trillion economic rescue package to combat the coronavirus outbreak and send economic relief to workers and businesses squeezed by restrictions meant to stop the spread of the deadly virus.
The costliest stimulus plan in the US history includes checks for most Americans, a boost for unemployment aid, help for small business as well as a massive loan fund for corporations – at a time when unemployment is surging at a record pace, as a consequence of businesses closing in compliance with social distancing guidelines.
According to Johns Hopkins University, the country is now leading the world with more than 2,42,000 confirmed cases and 5,850 deaths. Nearly 30,000 new cases were registered within the last 24 hours.
The global tally of the total number of people infected by coronavirus as of Friday crossed 1,000,000 and the death toll from the disease exceeded 50,000, as per the data provided by Johns Hopkins University. (ANI)