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Kodak stock surges 98% after federal watchdog finds no problems with halted $765 million government loan

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  Kodak stock surged in pre-market trading on Monday, almost doubling at one point. A federal watchdog found no wrongdoing in the creation of the $765 million government loan earmarked to fund the camera maker's shift toward manufacturing COVID-19 drug ingredients earlier this year, The Wall Street Journal reported. When news of the loan broke in late July, Kodak shares skyrocketed as much as 2,190% in two days. However, the launch of congressional probes and a SEC investigation meant the funding was swiftly put on ice. Visit Business Insider's homepage for more stories. Kodak shares soared as much as 98% in pre-market trading on Monday after a government watchdog found no problems with the process that created a $765 million federal loan to finance the camera company's pivot toward making COVID-19 drug ingredients earlier this year. The inspector general of the US International Development Finance Corporation, the agency behind the loan, delivered the results of his invest...
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DBS to Allow Employees to Work Remotely for up to 40% of Time

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  © Bloomberg The DBS Group Holdings Ltd. logo is displayed atop Tower 3 of the Marina Bay Financial Centre in Singapore, on Wednesday, Feb. 12, 2020. The coronavirus outbreak rocked Singapore's financial district after an infection at the country’s biggest bank prompted it to evacuate 300 workers. (Bloomberg) -- All employees at DBS Group Holdings Ltd. will be granted the flexibility to work remotely up to 40% of the time to address the “massive changes” brought about by the Covid-19 pandemic. The company’s Future of Work task force found that more than four in five of its 29,000 staff were able to work seamlessly remotely, the Singapore lender said in a statement on Tuesday. However, some expressed that they preferred a hybrid work arrangement, which allowed them to stay engaged with colleagues. © Bloomberg The DBS Group Holdings Ltd. logo is displayed atop Tower 3 of the Marina Bay Financial Centre in Singapore, on Wednesday, Feb. 12, 2020. The coronavirus outbreak rocked Singap...
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Tata expected to swoop for lossmaking Air India

  Indian conglomerate Tata Group is expected to swoop for Air India, the lossmaking state carrier that successive governments have tried to sell. The owner of steel plants and Jaguar Land Rover is set to make an initial bid after New Delhi sweetened the terms of the sale to attract buyers, said two people with knowledge of the situation. The 152-year-old conglomerate, a $113bn-revenue group, plans to file an expression of interest (EOI) for the airline before a deadline for bids closes on Monday. It comes after New Delhi revised the terms of a sale with plans to divest 100 per cent of its equity share capital in Air India and reduce the amount of debt a buyer would have to take on. “This is the first step of a long process,” said one of the people about Tata’s EOI. Tata declined to comment. The move takes the former chairman of Tata’s holding company Ratan Tata one step closer to reclaiming Air India. Mr Tata’s ancestor J.R.D. Tata had founded the country’s first private carrier Ta...
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