A man in a surgical mask walks by the New York Stock Exchange (NYSE) after more cases of coronavirus were confirmed in New York City, New York, U.S., March 10, 2020. Andrew Kelly | Reuters The easiest thing is to blame the computers and the algorithms that keep them going, propelling the market ever lower
Month: March 2020
AndreyPopov | Getty Images Some good news – in the form of money – may be coming to Americans soon. On Tuesday, Treasury Secretary Steve Mnuchin said that the Trump administration plans to move “immediately” to send money to Americans as the coronavirus cripples the economy. “Americans need cash now,” Mnuchin said, indicating checks could
A man wearing a protective face mask walks past an indoor waterfall at Jewel Changi Airport in Singapore on February 27, 2020. Roslan Rahman | AFP | Getty Images This is a live blog. Please check back for updates. Global cases: At least 207,860, according to the latest figures from the World Health Organization Global
National Securities’ Art Hogan predicts stocks will bottom before coronavirus cases peak in the United States. Hogan, who has worked on Wall Street for 35 years, believes the key is what happens in Europe. If cases peak in Italy, he expects markets here will stabilize because investors will get a better sense of what to
Pedestrians pass a JPMorgan Chase & Co. bank branch near the New York Stock Exchange in 2018. Bloomberg | Bloomberg | Getty Images JPMorgan Chase will temporarily close about 20% of its branches and reduce staffing in the ones remaining in response to the coronavirus pandemic. “We are planning to temporarily close about 20% of our
Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020. Kevin Dietsch | Bloomberg | Getty Images. The Treasury Department won’t extend the tax filing deadline for 2019 returns,
Rob Frohwein, CEO of Kabbage Adam Jeffery | CNBC Consumers who are concerned about the survival of their local businesses amid the coronavirus outbreak are finding new technology-enabled platforms that allow shoppers to buy for a better future. Online small business lender Kabbage launched on Wednesday a service called “Kabbage Payments,” which allows any business
US President Donald Trump holds the daily briefing on the novel coronavirus, COVID-19, at the White House on March 18, 2020, in Washington, DC. Brendan Smialowsk | AFP | Getty Images President Donald Trump on Wednesday defended his habit of calling coronavirus the “Chinese virus.” “It’s not racist at all,” Trump said at a White
U.S. package delivery company FedEx suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic. Even so, the company reported quarterly revenue that beat market expectations as more businesses turned to its international express plane service to
Investor Bill Ackman urged President Donald Trump and corporate America in an impassioned plea on CNBC to shut down the country for 30 days to contain the fast-spreading coronavirus, calling it the only option to rescue the economy. “What’s scaring the American people and corporate America now is the gradual rollout,” Ackman told CNBC’s Scott Wapner on “Halftime
U.S. President Donald Trump, joined by members of the Coronavirus Task Force, speaks about the coronavirus outbreak in the press briefing room at the White House on March 17, 2020 in Washington, DC. (Photo by Drew Angerer/Getty Images) Drew Angerer Two financial-relief measures the Trump administration is weighing to fight the economic scourge of the
Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Longtime hedge fund manager Bill Ackman on Wednesday advised President Donald Trump to shut down the U.S. for one month in an effort to contain the novel coronavirus and said financial markets would rally in response to such decisive action. Ackman,
boonchai wedmakawand Financial scammers will likely try to steal money offered to Americans suffering from the negative economic effects of the coronavirus pandemic — and the public should be on its guard, federal officials warned on Wednesday. The White House has proposed making direct payments to American households as the coronavirus continues to wreak havoc
Sen. Marco Rubio told CNBC on Wednesday he wants to use a network of lenders for an existing program to help small business employers and employees weather the economic fallout from the coronavirus crisis. “We need to start thinking about not just small business, obviously, but the people who work for them,” said the Florida
European markets are expected to open lower Wednesday, despite Western governments promising to unleash billions of dollars to help businesses and citizens get through the coronavirus pandemic. London’s FTSE index is expected to open 124 points lower at 5,160, the German DAX is seen 186 points lower at 8,727 and the French CAC 40 is
Revolut, one of Europe’s biggest fintech (financial technology) firms, has launched a “money management” product for children, which can be monitored by parents via the app. The online-only bank, which claims more than 10 million users worldwide, announced Wednesday it was launching Revolut Junior, an app aimed at kids between the ages of 7 and
Darrell Gulin | Getty Images Morgan Stanley warned investors on Tuesday that the coronavirus pandemic is fundamentally disrupting the world’s economy. “Global recession in 2020 is now our base case,” Morgan Stanley chief economist Chetan Ahya wrote in a note. “With Covid-19 spreading in Europe and the US after hitting Asia, the disruptions and dislocations
The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC The Trump administration has called for a delay to the April 15 tax deadline. Taxpayers are still in the dark on when they’ll need to submit paperwork and pay Uncle Sam. In fact, today – March 16 – marked a deadline for small businesses,
CEOs across the globe are coming to terms with the reality that business will be anything but normal over the coming months as the impact of the coronavirus pandemic continues to escalate. But while revenues are set to suffer a short-term hit, the majority of leaders remain confident that their companies will be back on
Global cases: At least 184,976, according to the latest figures from the World Health Organization Global deaths: At least 7,529, according to the latest figures from the WHO This is a live blog. Please check back for updates. All times below are in Beijing time. 8:54 am: American Airlines extends time on voluntary unpaid leave options for
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