ECONOMIC NEWS UPDATE: The U.S. Small Business Administration reminds businesses of all sizes, private nonprofit organizations, homeowners and renters in Virginia of the deadline to submit disaster loan applications for physical damages due to severe weather and flooding on July 5, 2015. The deadline to apply for a physical damage disaster loan is Oct. 19, 2015.
Low-interest disaster loans are available in the counties of Bland, Buchanan, Russell, Smyth and Tazewell in Virginia; McDowell and Mercer in West Virginia.
Businesses of any size and nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.
For small businesses, small agricultural cooperatives, small aquaculture businesses and most private, nonprofit organizations, the SBA offers Economic Injury Disaster Loans (EIDLs) to assist meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any physical property damage.
Loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for loans up to $40,000 to repair or replace damaged or destroyed personal property.
Applicants may be eligible for a loan amount improvement up to 20 percent of their physical damages, as verified by the SBA, to make improvements that assist prevent the risk of future property damage caused by a similar disaster.
Interest rates are as low as 4 percent for businesses, 2.625 percent for nonprofit organizations and
1.688 percent for homeowners and renters, with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicants financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBAs secure website at https://disasterloan.sba.gov/ela.
Disaster loan information and applications may also be obtained by calling the SBAs Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard-of-hearing), or by emailing disastercustomerservice@sba.gov. Loan applications can also be downloaded at www.sba.gov/disaster. Accomplished applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The filing deadline to return applications for physical property damage is Oct. 19, 2015. The deadline to return economic injury applications is May 18, 2016.
U.S. STOCKS NEWS: On Friday, Shares of Bristol-Myers Squibb Company (NYSE:BMY), gained 3.46% to $64.34.
The Bristol-Myers Squibb Foundation declared four new grants awarded through its landmark Secure the Future initiative that will strengthen community-based services addressing cervical cancer in Tanzania, where women living with HIV are more likely to die from cervical cancer than AIDS.
The grants will support the ongoing work of four members of the Coalition for the Prevention of Cervical Cancer in Tanzania: Mbeya HIV/AIDS Network, Medical Women’s Association of Tanzania, Tanzania Marketing and Communications and Tanzania Youth Alliance. Secure the Future and the Tanzania coalition are collaborating with Pink Ribbon Red Ribbon to assist communities in the East African country prevent cervical cancer by raising awareness and encouraging screening to improve early cervical cancer detection and treatment programs. Pink Ribbon Red Ribbon is associated with the George W. Bush Institute.
The Foundation has committed $1.2 million over three years to support Pink Ribbon Red Ribbon’s work in Tanzania and also supports similar work in Swaziland and Ethiopia.
“Cervical cancer is a leading cause of cancer death in women in sub-Saharan Africa,” says John Damonti, president, Bristol-Myers Squibb Foundation. “Women in Tanzania are nearly three times more likely to suffer from cervical cancer than women living in other parts of the world. Tragically, four of every five women diagnosed with cervical cancer in Tanzania die within five years of their diagnosis because the cancer is detected at an advanced stage or because they have limited access to care.”
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It provides chemically-synthesized drugs or small molecules, and biologics in various therapeutic areas, counting virology comprising human immunodeficiency virus infection (HIV); oncology; neuroscience; immunoscience; and cardiovascular.
Shares of Comcast Corporation (NASDAQ:CMCSA), declined -1.78% to $57.42, during its last trading session.
In celebration of the World Meeting of Families – Philadelphia 2015 and the historic visit of Pope Francis to Philadelphia, Comcast recently unveiled Eternally Rome, a new 13-minute show presented on “The Comcast Experience” video wall in the Comcast Center lobby.
Eternally Rome is a visual celebration of the ancient, beautiful city, shot using stunning high-resolution cinematography and featuring breathtaking views of some of Rome’s most iconic landmarks, counting the Colosseum, Pantheon, The Roman Forum, St. Peter’s Square and Vatican City.
Brian L. Roberts, Chairman and CEO of Comcast, and Archbishop Charles J. Chaput of the Archdiocese of Philadelphia, presented the show recently to several hundred guests in the Comcast Center lobby.
“Comcast is excited and proud to introduce Eternally Rome, and to share this extraordinary show with the Philadelphia community,” said Mr. Roberts. “We hope Eternally Rome will be a symbol of welcome to those visiting from near and far, and part of an unforgettable experience for Philadelphia, the city Comcast has called home for more than 50 years.”
“Through its beautiful and engaging cinematography, Eternally Rome has brought the iconic spirit of Rome to life in our City of Philadelphia,” said Archbishop Chaput. “I’m most grateful to Comcast for creating this visual celebration of the Eternal City that will enhance the once-in-a-lifetime experience for all who are participating in the World Meeting of Families and the visit of Pope Francis.”
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice services to residential and business customers under the XFINITY brand name.
Shares of Marathon Oil Corporation (NYSE:MRO), declined -3.59% to $15.84, during its last trading session.
On Friday, after opening the session at $16.23, the shares hit an intraday low of $15.57 and an intraday high of $16.33 and the price vacillated in this range throughout the day. The company has a market cap of $10,727 million and the number of outstanding shares have been calculated to be 677,185,000 shares. The 52-week high of Marathon Oil Corporation (MRO) is $40.5 and the 52-week low is $14.03.
Marathon Oil Corporation operates as an energy company. It operates in three segments: North America Exploration and Production, International Exploration and Production, and Oil Sands Mining. The North America Exploration and Production segment explores for, produces, and markets crude oil and condensate, natural gas liquids, and natural gas in North America.
Finally, Shares of CONSOL Energy Inc. (NYSE:CNX), ended its last trade with -3.77% loss, and closed at $13.02, together with falling oil prices.
This comes after the Federal Reserve declared recently that it would not raise interest rates.
The decision was based on inflation not meeting the 2% aim, Reuters reports. The central bank also added that it needs to see more signs of improvement in the labor market.
While the decision allowed the dollar to fall, making it better for commodities, oil prices were still tumbling from earlier anticipation that the Fed would raise interest rates, Reuters noted.
CONSOL Energy Inc., together with its auxiliaries, operates as an integrated energy company in the United States and internationally. The company operates through two divisions, Exploration and Production (E&P), and Coal. The E&P division produces pipeline quality natural gas primarily to gas wholesalers.
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