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New guidance on SBA loans means most startups are still excluded from $349 billion stimulus

Under new guidance issued by the Small Business Administration it seems non-profits and faith-based groups can apply for the Paycheck Protection Program loans designed to keep small business afloat during the COVID-19 epidemic, but most venture-backed companies are still not covered. Late Friday night, the Treasury Department updated its rules […]

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500 Startups moves to rolling admissions instead of cohorts

500 Startups is scrapping its cohort model for accelerating companies and moving to a rolling admissions process, the accelerator said during its latest demo day. One of the progenitors of the accelerator model in the US along with Techstars and Y Combinator, 500 has been a cornerstone of the early-stage […]

Volvo’s Polestar begins production of the all-electric Polestar 2 in China

Polestar has started production of its all-electric Polestar 2 vehicle at a plant in China amid the COVID-19 pandemic that has upended the automotive industry and triggered a wave of factory closures throughout the world. The start of Polestar 2 production is a milestone for Volvo Car Group’s standalone electric […]

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Rocket Lab postpones next mission due to coronavirus pandemic

Rocket Lab is the latest new space company to feel the impact of the global coronavirus pandemic: The small satellite launcher announced on Tuesday that it would be suspending its next launch, a mission called ‘Don’t Stop Me Now’ that was set to take-off from Rocket Lab’s Launch Complex 1 […]

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Wondering if venture capital is open for business? A new initiative has investors saying yes

A new initiative from a Los Angeles investor is taking stock of venture firms and their ability to commit capital in an effort to match firms that are still open for business and cutting checks to startups that are fundraising in the age of COVID-19. Laurent Grill, one of the […]

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Uber Eats waives delivery fees for independent restaurants during COVID-19 pandemic

Uber Eats said Monday it will waive delivery fees for all orders from independently owned restaurants on the app as the COVID-19 pandemic continues to spread and causes cities to shutter all non-essential businesses. Restaurants throughout the U.S. are facing economic headwinds as city and state officials take steps to […]

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White House and House Democrats agree to funding package for paid sick leave, funding for tests

Late Friday night, after nearly two full days of negotiations, the House of Representatives is finally set to pass a bipartisan plan to provide sweeping new benefits to workers and businesses affected by the outbreak of the novel coronavirus in the U.S. The new bill will offer paid sick leave, […]

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Airlines start canceling more flights from Europe as new restrictions go into effect

With the White House’s surprise decision to bar foreign nationals from Europe from entering the United States, the already battered airline industry is facing yet another challenge. Unsurprisingly, we are now seeing even more cancellations across the industry as even U.S. citizen and legal permanent residents can now only enter […]

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Grindr sold by Chinese owner after US raised national security concerns

Chinese gaming giant Beijing Kunlun has agreed to sell popular gay dating app Grindr for about $608 million, ending a tumultuous four years under Chinese ownership. Reuters reports that the Chinese company sold its 98% stake in Grindr to a U.S.-based company, San Vicente Acquisition Partners. The app, originally developed […]