Senators attempt to advance bill lengthening coronavirus business loan terms

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FILE PHOTO: U.S. Sen. Susan Collins (R-ME) wears a mask while participating in the Senate Committee for Health, Education, Labor, and Pensions hearing on the coronavirus disease (COVID-19) response, in Washington, U.S., May 12, 2020. Win McNamee/Pool via REUTERS

WASHINGTON (Reuters) – Negotiators in the U.S. Senate reached agreement on Thursday on legislation increasing the amount of time, to 16 weeks from the current eight-week deadline, for small businesses to use Paycheck Protection Program loans, according a Senate aide.

The legislation, which attempts to make revisions to a program created in late March to help small businesses stay afloat during

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Debt-stricken Chesapeake Energy to advance incentive executive pay

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NEW YORK (Reuters) – Chesapeake Energy Corp said it would prepay a total of $25 million in incentive compensation to 21 top executives to ensure they are motivated, even as it prepares to file for bankruptcy protection to tackle its nearly $9 billion debt pile.

FILE PHOTO: A Chesapeake Energy natural gas well pad rests on the hill in Litchfield Township, Pennsylvania, January 9, 2013. REUTERS/Brett Carlsen/File Photo

The Oklahoma City-based company, co-founded by late wildcatter and outspoken natural gas proponent Aubrey McClendon, has been struggling with an unprecedented rout in oil and gas prices, as the coronavirus-driven economic downturn

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