Howard Schultz said Tuesday that additional funding for the Paycheck Protection Program is not adequate to help small restaurants survive the coronavirus pandemic. “What’s needed is not another version of PPP. Again, good intent but it’s the wrong medicine,” the billionaire former Starbucks CEO said on “Squawk Box.” Rather, Schultz said he believes the government needs to create
Month: April 2020
How carefully and strategically the real estate industry can ramp up will make all the difference … [+] for agents, buyers, and sellers in both transacting business and staying safe on the streets of our cities and towns. Getty A month after our shelter in place took hold here in New York, with another month
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 2,494,900 Global deaths: At least 171,249 US cases: More than 787,900 US deaths: At least 42,364 The data
An employee works on the production line of the Swire Coca-Cola Beverages Hubei Limited on March 24, 2020 in Wuhan, Hubei province, China. Getty Images Coca-Cola on Tuesday reported that the company’s global volumes have plunged 25% since the start of April. Shares of the company rose less than 1% in premarket trading. Here’s what the
A man wearing a mask walks by the New York Stock Exchange (NYSE) on March 17, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images This is a live blog. Check back for updates. 7:16 am: Stock futures fall as historic oil decline continues Wall Street headed for another
In 1982, Michael Jordan was just a teenager — he wasn’t even yet the best player on his University of North Carolina basketball team. He still had to write home to his mother asking for stamps and spending money. Yet Jordan made it known to those around him that he had lofty ambitions, and that he
Oil pumping jacks, also known as “nodding donkeys”, operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. Andrey Rudakov | Bloomberg | Getty Images This is a developing story. Check back for updates. Trading in the United States Oil Fund, a popular exchange-traded security known for its ‘USO’ ticker which is
Kupicoo | Getty Images If you’re wondering about getting any tax breaks on your work-from-home expenses, you are probably out of luck. Blame the IRS. “Even if you are required to work remotely due to the quarantine, unfortunately employees are not allowed to take a tax break for any home-office expenses,” said Gail Rosen, a
Hundreds of millions of dollars of in Paycheck Protection Plan emergency funding has been claimed by large, publicly traded companies, new research published by Morgan Stanley shows. In fact, the U.S. government has allocated at least $243.4 million of the total $349 billion to publicly traded companies, the firm said. The PPP was designed to
Photo: Getty Here in Ontario, we’ve recently learned that physical distancing protocols may be extended for another three months, or possibly longer. Even then, it’s possible that people will want to keep their distance until the threat of coronavirus has been proven to have subsided for good. This sets the scene for a new reality
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 2.4 million Global deaths: More than 169,986 Most cases reported: United States (784,326), Spain (200,210), Italy (181,228), France (156,480), and Germany (147,065). The data above was compiled
A Halliburton oil well fielder works on a well head at a fracking rig site January 27, 2016 near Stillwater, Oklahoma. J. Pat Carter | Getty Images Leading fracking firm Halliburton reported a $1 billion first-quarter loss and $1.1 billion in impairment charges on Monday as it gave a bleak outlook for North American oilfields
Stock futures bounced slightly in overnight trading on Monday as oil prices bounced off their lows following an unprecedented wipeout. Futures on the Dow Jones Industrial Average rose 80 points. S&P 500 futures added 0.3%. The gains came as the more actively-traded June oil contract rebounded by 2%. The May contract, which triggered Monday’s stock
From weird dreams and nightmares to increased insomnia, the coronavirus pandemic has stimulated some unusual sleep issues for many people. As a member of the outreach and public education committee for the Society of Behavioral Sleep Medicine and a behavioral sleep researcher at the University of Alabama at Birmingham, a number of patients have been asking: “Why is this happening, and
Howard Marks, Co-Chairman, Oaktree Capital. David A. Grogan | CNBC Billionaire investor Howard Marks said there is a sharp disconnect between the stock market and the reality the world is facing amid the coronavirus outbreak. “We’re only down 15% from the all-time high of Feb. 19,” Marks, co-founder of Oaktree Capital Management, said Monday on
Raymond Boyd Some big restaurant chains have gotten called out in recent days for using a loophole in the $2.2 trillion coronavirus relief law to access loan money earmarked for smaller businesses. Potbelly Sandwich Shop, for example, got a $10 million loan from the Paycheck Protection Program — the upper lending limit. Ruth’s Chris Steak House got
As the coronavirus pandemic continues to take its toll on the U.S. economy, a new survey from the National Restaurant Association lays out how dire the situation is for the industry. More than two-thirds of the restaurant workforce, or 8 million employees, have lost their jobs as shelter-in-place orders and mandatory closures have severely impacted
Viacom’s New York City headquarters. Photo by JOHANNES EISELE/AFP via Getty Images Topline: As the coronavirus pandemic keeps Americans confined to their homes, nearly every industry has been negatively impacted by the disease, and businesses losing out on cash flow have started laying off workers. Here’s who’s axed staff so far: Airlines & Transportation Air
Still from “The Batman.” Warner Bros. Warner Bros. is making some strategic changes to its movie release schedule in the wake of the coronavirus pandemic. With cinemas shuttered and productions of upcoming films suspended, the studio has moved a number of its release dates. So far, Christopher Nolan’s “Tenet” and the second “Wonder Woman” film
A United Airlines Holdings Inc. employee waits for a traveler at San Francisco International Airport in San Francisco, California, U.S., on Thursday, April 2, 2020. David Paul Morris | Bloomberg | Getty Images United Airlines on Monday reported a $2.1 billion loss for first quarter as the coronavirus pandemic drove travel demand down to the lowest
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