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Business Management

Hospitals are receiving $30 billion in CARES Act funding by direct deposit

"@HHSGov  is beginning the immediate distribution of $30 billion to hospitals and healthcare providers ..." HHS Sec. Alex Azar tweeted. “@HHSGov is beginning the immediate distribution of $30 billion to hospitals and healthcare providers …” HHS Sec. Alex Azar tweeted.

The Centers for Medicare and Medicaid Services has announced the release of $30 billion of the $100 billion earmarked for hospitals in the Coronavirus Aid, Relief and Economic Security Act.

This money is separate from $34 billion in advance payment loans to providers announced last week. CMS later increased the amount in the Accelerated and Advance Payment Program to $51 billion.

Hospital and provider groups are calling for the release of all of the funding, and those representing essential hospitals

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Business News

Exxon Cuts Spending by 30% Amid Demand Crash

ExxonMobil claimed Tuesday it will slash money shelling out this 12 months by thirty% — the biggest minimize any oil key has manufactured in reaction to the coronavirus-driven crash in demand.

More than 50 oil and gas corporations so far have declared designs to reduce shelling out by much more than $37 billion, with majors’ BP, Chevron, Royal Dutch Shell, and Saudi Aramco generating 20% to 25% reductions.

Exxon’s plan phone calls for a 2020 money spending budget of $23 billion, down thirty% from the $33 billion it had earlier expected. The most significant minimize will appear in the biggest

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