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medium businesses


Text size Andrew Harrer/Bloomberg American Express has agreed to buy nearly all of fintech Kabbage as it seeks to expand its services for small businesses. Financial terms weren’t announced, although press reports peg the sale at $850 million. AmEx (ticker: AXP) is buying Kabbage’s team as well as its suite of financial technology products, data …

WASHINGTON—Congress should consider automatically forgiving Paycheck Protection Program loans taken out by the smallest U.S. businesses—and offer a second helping of aid to firms hard hit by the pandemic, Treasury Secretary Steven Mnuchin said Friday. The comments came at a House Small Business Committee hearing, where lawmakers in both parties signaled they want to push …

Hefty exposure to technology investments combined with swift action by managers helped lessen the impact of the coronavirus on the private-equity portfolio of Florida’s largest public pension fund, the Florida State Board of Administration, which manages the pension, said in a recent presentation. Nearly 44% of the market value of Florida Retirement System Pension Plan’s …

WASHINGTON—Top lawmakers said they plan to move within days to provide hundreds of billions of dollars in new funding for small-business loans, citing widespread demand for assistance from firms hit by shutdowns related to the coronavirus pandemic. Heavy requests for the previously approved $350 billion in loans are pushing Republican and Democratic lawmakers to consider …

Real-estate technology startup Snapdocs Inc. has raised $25 million to further improve artificial intelligence on its mortgage processing platform. The San Francisco-based startup provides software that enables the various parties involved in arranging a mortgage to interact, with the goal of simplifying the process. Some of the company’s offerings use AI technology to perform tasks …

Masayoshi Son, SoftBank’s chairman and CEO who also runs the Vision Fund, has told staffers at the fund to push the companies in which it owns stakes to generate cash, these people said, a drastic shift from his earlier demands that they spend aggressively to drive sales growth. Vision Fund executives are scrutinizing some deals …