March 12, 2021

Restaurant rescue in covid relief package

Restaurants devastated by the pandemic are getting a lifeline from the relief package that’s awaiting final approval…

Restaurants devastated by the pandemic are getting a lifeline from the relief package that’s awaiting final approval in the House. Restaurants can get grants equal to the amount of their revenue losses, up to a maximum of $10 million per company and $5 million per location. Eligible companies cannot own more than 20 locations, and they can’t be publicly traded.

Chevron has outlined a plan to expand oil and gas production through 2025, but without spending significantly more, and pledged to limit the pace of growth of its carbon emissions. Investors have been pressuring oil companies to hold spending flat and reduce emissions that contribute to climate change.

Another hit to the cruise business, with seven major lines pushing back their restart dates. Royal Caribbean, the world’s largest cruise line, has extended its year-long halt to nearly all departures through early June. Royal Caribbean joins Norwegian and Carnival in giving up on the idea of a widespread May restart. Smaller brands Celebrity, Silverseas, and Azamara also pushed back their restarts to early June.