General Motors said Monday that it is suspending its quarterly dividend and stock buybacks to preserve cash during the coronavirus pandemic. JEFF KOWALSKY | AFP | Getty Images General Motors has tapped Delta Air Lines CFO Paul Jacobson to replace Dhivya Suryadevara, who unexpectedly left GM for digital payments company Stripe in August, the automaker
Month: October 2020
A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters Exxon Mobil on Friday reported its third straight quarter of losses as depressed oil demand sparked by the coronavirus pandemic weighed on the company’s operations. During the third quarter, the company lost $680 million, although Exxon said results improved on a
Check out the companies making headlines in midday trading. Twitter – Shares dropped more than 20% after the social media company reported user growth that fell short of expectations amid heightened scrutiny and the challenge of handling posts around the U.S. election. Twitter ad revenue grew 15% year over year to $808 million, but the company
Kate Spade handbags Scott Mlyn | CNBC Women are spending more money when they’re shopping for handbags during the coronavirus pandemic, Coach owner Tapestry‘s latest quarterly results show. And it could be, in part, because consumers are buying bigger, pricier bags to stow away bottles of hand sanitizer and Clorox wipes. “I don’t know about
Monty Rakusen | Cultura | Getty Images Company: Contura Energy, Inc. (CTRA) Business: Contura is large scale provider of metallurgical (“met”) and thermal coal. The company has mining operations across coal basins in Pennsylvania, Virginia and West Virginia. It supplies both metallurgical coal to produce steel and thermal coal to generate power. The met coal
People line up outside a Kentucky Career Center hoping to find assistance with their unemployment claim in Frankfort, Kentucky, June 18, 2020. Bryan Woolston | Reuters You would think having decades of experience should help in a job search. Yet it’s holding many older unemployed workers back during the coronavirus pandemic. Harry Hache, 59, was
Briana called AgingParents.com in distress. She was feeling panicky and angry. Her 80 year old mother, Rhonda, had just bought another new car she could not afford. Briana explained that her mother’s funds were limited, but she kept insisting on living the life she had before her husband passed. Her parents had depleted their assets
The scheduled expiration of the Fed’s Municipal Liquidity Facility (MLF) at the end of 2020 could … [+] threaten a repeat of this spring’s market liquidity crisis. getty As Senate Republicans continue blocking state and city budget aid in a new stimulus package, progressive advocates want the Federal Reserve to be a much more active municipal lender. But
The Chelsea Barracks Collection is inspired by the history of its surroundings Chelsea Barracks At the top end of the market, developers not only build homes, but they also commission bespoke homeware for them. The developer of Chelsea Barracks, a residential scheme in Belgravia known for its luxury residences, has produced for its homes a
Dr. Scott Gottlieb warned that the United States is only “at the beginning of the steep part of the epidemic” as the number of coronavirus infections and hospitalizations across the country break grim records. In an interview on CNBC’s “The News with Shepard Smith” on Friday, the former FDA chief said, “You’ll see cases start
Google parent company Alphabet‘s stock rose as much as 9% in after-hours trading as it crushed expectations for both earnings and revenue in its third-quarter earnings results, showing strong growth in advertising revenue across the board. Here are the results. Earnings per share: $16.40 vs $11.29 expected, according to Refinitiv estimates Revenue: $46.17 billion vs $42.90 billion
Joggers pass the Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images With inflation still elusive and a host of questions surrounding an economy that just set a single-quarter record for growth, the Federal Reserve faces a choice of whether to wait for
Getty Images The coronavirus pandemic is redrawing the flight patterns of America’s private jets, as airports in resort towns see big jumps in traffic while flights near cities decline, according to a new report. Private jet flights at Francis S. Gabreski Airport in Westhampton, New York, surged 172% in October, according to data from Tuvoli,
Raymond James CEO Paul Reilly told CNBC on Friday that long-term investors should not be scared away from equity markets, despite the rise in coronavirus cases and other risk factors that weighed on Wall Street in October. “The important message is stay invested,” Reilly said on “Power Lunch.” “If you’re afraid of some segments, that’s
Josephine Flood | CNBC How to read this guide Follow along from start to finish, or jump to the section(s) you want to learn more about. Introduction Saving for retirement is the gnarliest of delayed gratification challenges. Tucking money away today in retirement accounts with the intention you won’t touch it for decades is not
Sanibel Island, Jerry’s Foods, grocery store, breakfast cereal aisle. (Photo by: Jeffrey … [+] Greenberg/Education Images/Universal Images Group via Getty Images) Jeffrey Greenberg/Universal Images Group via Getty Images I am interviewing Gaurav Sharma, who has launched a new venture to solve an old problem. Gaurav, ever since we started our national experiment with do-it -yourself pensions with
getty A woman who faked her resume for years in exchange for high-paying executive gigs is finally going to prison. That was the word out of the Department of Justice in a case that has all of the makings of a daytime television plot. Sonja Emery was known at various times as Sonja Lee Robinson,
(Photo by Alex Tai) SOPA Images/LightRocket via Getty Images Bank of America (BAC), Citigroup C , JPMorgan Chase JPM and Wells Fargo WFC are the four money center banks considered too big to fail. Most analysts on Wall Street recommended these banks as 2020 began. I disagreed with this call given the high probability that
Dr. Scott Gottlieb on Friday urged Americans to adhere to coronavirus safety precautions in the next few months, warning the nation’s current uptick in Covid-19 cases is likely to continue its upward trajectory in the near term. “People should not let their guard down now,” Gottlieb said on CNBC’s “Squawk Box.” “We should try to remain vigilant
Shares of Twitter, Facebook, Apple and Amazon traded lower Friday, a day after the companies released quarterly reports that failed to wow Wall Street. Here’s what’s going on: Twitter Twitter stock plunged more than 19% Friday after the company reported disappointing user growth but beat analysts’ expectations on profit and revenue. Twitter grew its total
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