Starbucks on Tuesday said that its fiscal second-quarter global same-store sales fell 10% as the coronavirus hit sales in its two largest markets, the United States and China. The company also warned that its fiscal third-quarter results will take an even bigger hit from the pandemic, even as sales in China begin to recover. Shares of
Month: April 2020
Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a House Budget Committee hearing in Washington, D.C., U.S., on Thursday, Nov. 14, 2019. Andrew Harrer | Bloomberg | Getty Images Stock futures fell slightly in overnight trading on Tuesday as investors eyed guidance from the Federal Reserve on the future path of interest rates
In the time since nonessential businesses began to close their doors in March to prevent the spread of the coronavirus, the U.S. labor market has wiped out all the job gains it made in the decade since the Great Recession. With roughly 26.5 million Americans now out of work who have filed for unemployment, many
CNBC’s Jim Cramer on Monday doubled down on his preference for stock picking over index investing. The former hedge fund manager presented a list of market bright spots that span more than one dozen industries he said are working in this coronavirus-plagued market. “You want to remember this list the next time the market rolls
Image Source | Getty Images When it comes to coronavirus stimulus checks, many say $1,200 isn’t enough. Millions of those one-time payments are still on their way to Americans. The coronavirus shutdown, however, could have economic effects for months. Now, political leaders are turning to proposals for putting more income in Americans’ hands. “Others have
[The stream is slated to start at 3 p.m. TIME ET. Please refresh the page if you do not see a player above at that time.] President Donald Trump on Tuesday is slated to deliver remarks on the Paycheck Protection Program. The government relief program offers forgivable loans to small businesses that keep employees on
TOPLINE With Russia recording a new daily high in its number of new coronavirus cases and deaths on Tuesday, President Vladimir Putin extended the country’s lockdown measures for another two weeks, warning that the worst of the outbreak is still to come. “We must prepare for a tough road ahead,” the Russian president said. Alexei
Painting A Front Door Creates A Memorable First Impression Getty Here are some DIY projects to boost your home’s resale value and appeal. It’s no surprise homeowners are looking to DIY ideas to fill their time and hopefully add value and appeal to their home. A recent report by Placer.ai, saw visits to Home Depot
Northwell Health CEO Michael Dowling said that scientists working on a drug trial for famotidine, a common heartburn medication, have “a reasonable confidence” that the drug may make a difference in the treatment of Covid-19 patients. “It’s one of many trials we’re doing, but we believe in the next two weeks or so we’ll have
A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, March 26, 2019. Mike Blake | Reuters Southwest Airlines on Tuesday posted its first quarterly loss since 2011 and predicted “no material improvement in air travel trends” this spring as coronavirus devastates demand. The Dallas-based airline
A masked pedestrian carrying water bottles walks past the Charging Bull statue in lower Manhattan on April 02, 2020 in New York City. Bruce Bennett | Getty Images This is a live blog. Check back for updates. 7:49 am: Caterpillar says first-quarter sales decline 21%, does not give 2020 outlook because of pandemic Caterpillar experienced a
Laura Jayne Massaro has dreamed of running her own business ever since she discovered her passion for dog grooming. After countless trainings and apprenticeships, she was finally able to open Hair of the Dog mobile grooming spa in 2015. Her unique dog-spa-on-wheels allows her to serve a multitude of neighborhoods while also making it easier
Hedge fund manager Kyle Bass told CNBC on Tuesday that he didn’t anticipate the stock market to recover as significantly as it has from its coronavirus-driven lows in March. “I’m surprised at the size of the bounce when you look at our economy and the fact that we have … 20% unemployment, and in the
As the death toll and confirmed cases of Covid-19 rises, online companies and lawyers say they’ve seen a sharp rise in people of all ages seeking estate-planning services over the last few weeks. FatCamera States’ financial troubles in the wake of the coronavirus pandemic could come home to haunt investors – right in Mom and
CNBC’s Jim Cramer on Tuesday criticized banks for approving small business loans to larger companies that were not meant to benefit from the federal Payroll Protection Program. “I just want to know who made the bad loans. Somebody did,” Cramer said on “Squawk on the Street,” suggesting the names of the banks who facilitated the
Award-winning architect Lauren Rottet in the Presidential Suite of the Surrey Hotel in New York. EDOUARD ZAK PHOTOGRAPHY One of the most-celebrated architects in the world, Lauren Rottet is the genius behind the design of many exceptional hotels around the world, from the Hotel Alessandra in Houston, Texas, the Surrey Hotel in New York City,
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: More than 3 million Global deaths: More than 210,800 Most cases reported: United States (987,022), Spain (229,422), Italy (199,414), France (165,962), and Germany (158,434). The data above was compiled
The entrance of the China Securities Regulatory Commission (CSRC). Zhang Peng | LightRocket |Getty Images In a period fraught with tensions with the U.S., China is trying to show it’s being serious about tackling fraud. Nasdaq-listed Luckin Coffee said Monday it was cooperating with regulators, following reports of government investigation into the company over recently disclosed
Whether you’re trying to bail on your fifth video happy hour of the week or analyzing your boss’ décor on a company-wide conference, most of us have reached peak video chat fatigue. On social media, many people have been documenting the cringe-worthy moments of our new on-screen lives. (Zoom did not immediately respond to CNBC Make
Jeffrey Gundlach speaking at the Sohn conference in New York on May 4, 2016. David A. Grogan | CNBC Billionaire hedge fund manager Jeffrey Gundlach said a popular exchange-traded fund is incredibly overvalued given some of the Federal Reserve’s actions to support the economy during coronavirus pandemic. “The LQD looks to be about the most
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