Film producer Jeffrey Katzenberg said Friday he doesn’t think the movie industry has to choose between releasing movies on the big screen or debuting them on streaming services.  “I don’t think these things are mutually exclusive,” the co-founder of DreamWorks Animation said on CNBC’s “Closing Bell.”  In fact, Katzenberg said he believes the film industry
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Chime Banking logo is seen displayed on a smartphone. Rafael Henrique | LightRocket | Getty Images Chime, the biggest U.S. digital bank start-up, is piloting a way for its users to receive their federal $1,200 stimulus checks instantly, weeks before the government is expected to send the payments.   The San Francisco-based company said it randomly
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The stock market could still touch new lows as uncertainty around the coronavirus pandemic persists, Mohamed El-Erian said Friday.  “I don’t think we’re forming a bottom yet. I think we’re going down at a slower rate,” the chief economic advisor at Allianz said on CNBC’s “Squawk Box.” “There is a very important distinction there.”  Calling a
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Carlina Teteris Business owners have been eagerly anticipating a $349 billion loan program meant to cushion the economic blow of the coronavirus pandemic. Some will have to wait a little longer. The Paycheck Protection Program, which officially opened for borrowers Friday morning, provides up to $10 million in forgivable loans to small businesses with 500
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Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department changed the terms on some loans it’s offering to small businesses during the coronavirus pandemic, making them more unfavorable
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Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America says it is capable of accepting online applications for the government’s $350 billion small business relief program, becoming the first major bank to make that announcement.  Just minutes earlier on Friday, none of the websites of four of the biggest U.S. banks — 
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Jourdain Degarmo, CEO of Mr. Muggles’ Dogs Joe Drypolcher Jourdain Degarmo had to lay off all seven employees from his doggie day care in San Francisco last month after California’s shelter-in-place order required non-essential workers to stay home. Degarmo has continued paying salaries with his cash on hand but needs help from the government to keep
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Volunteers dressed in protective suits, masks, gloves and goggles carrying blood and throat mucous samples to test for COVID-19 on March 27, 2020 in Berlin, Germany. Sean Gallup | Getty Images This is a live blog. Please check back for updates. Global cases: More than 1,011,000.  Global deaths: At least 52,800.  Top 5 countries: United States (242,182),
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Hedge fund manager Mark Yusko is telling investors to brace for a nearly once in a lifetime downturn. The Morgan Creek Capital Management CEO and CIO sees the Great Depression as the closest comparison to what’s happening to the coronavirus ravaged economy.  “The economic shock wave that’s coming is going to be like nothing that
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Self-employed and gig workers may have to wait a little longer than other jobless Americans to get their unemployment benefits. The new coronavirus relief law significantly expanded the financial assistance it gives to out-of-work Americans, partly by expanding pay to groups of workers who were previously ineligible. But the claims-filing process for these groups has
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