Junior’s Cheesecake owner Alan Rosen on Wednesday defended his decision to leave his restaurant employees on furlough despite receiving money from the Treasury Department’s newly created small business loan program. Rosen told CNBC on Wednesday that he believes keeping the 650 workers on furlough, for the time being, is in the long-term best interest of the business
Month: April 2020
Net positive energy home in Lincoln, Massachusetts Photo by Chuck Choi ZeroEnergy Design is an architecture firm creating high performance homes and buildings, while also offering energy consulting and HVAC design for other professionals through the firm’s mechanical design practice. The company has received numerous awards, including Best of Boston Home® 2020 Best Sustainable Architect,
On Tuesday, April 14, 2020, New York Governor Andrew Cuomo gave his daily press briefing amidst the coronavirus crisis currently devastating the state. Karla Ann Cote | NurPhoto | Getty Images New York Gov. Andrew Cuomo plans to issue an executive order requiring all people to wear a mask or face covering while in public
David Solomon, the CEO of Goldman Sachs, speaks during the Bloomberg Global Business Forum in New York, September 25, 2019. Shannon Stapleton | Reuters Goldman Sachs reported first-quarter earnings before the opening bell Wednesday. The bank said Wednesday it earned $3.11 a share in the quarter on revenue of $8.74 billion. Goldman shares are lower by
A man walks by the NYSE as flags fly at full staff on April 09, 2020 in New York City. Kena Betancur | Getty Images This is a live blog. Check back for updates. 7:59 am: Airlines jump after reaching aid agreement with Treasury Department Shares of major airline companies surged in premarket trading on Wednesday
The Covid-19 pandemic has nearly instantly and very dramatically pivoted the priorities of some makers, start-up founders, entrepreneurs, researchers and doers — the innovators — to solving problems related to the pandemic and preparing for any in the future. “Every [tech] entrepreneur that I know is spending time on the pandemic response,” CEO of global start-up accelerator
Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland. Adam Galica | CNBC Citigroup reported first-quarter earnings on Wednesday. Here’s how the company did: Earnings: $1.05 per share vs $1.87 per share in the year-earlier period Revenue: $20.7 billion, up 12% from the previous year Net income: $2.52 billion, down 46% from
Our brains are wired to look for danger and react quickly to an approaching attack; however, this most recent threat is invisible, but no less distressing to our primitive brains. Plummeting stock prices are sending some investors over the edge, leading to irrational behavior that has dire long-term financial repercussions. In his book, “Your Money
Under normal circumstances, failure to pay any type of insurance premium results in a loss of coverage fairly quickly. These aren’t normal times. In addition to insurance companies offering relief to customers who are struggling to pay their premiums, a handful of states are requiring insurers to provide extra time for people to make those
Jason Duff, founder of Small Nation, a community developer focused on revitalizing the downtown of Bellefontaine, Ohio received his PPP funding four days after receiving the SBA E-tran loan number and said he is “extremely thankful to have that runway of cash.” Jason Duff | Small Nation Much-needed small business aid is beginning to trickle
Getty The first stimulus checks will land in the bank accounts of millions of Americans this week. As part of the record $2 trillion economic relief package enacted last month, individuals are to receive $1,200, while couple will get double that amount in addition to $500 per every dependent child. And, they have already decided
Municipal officials carry out disinfection works as a precaution against the coronavirus (COVID-19) at historical mosques and churches in Mardin, Turkey on March 13, 2020. Halil Ibrahim Sincar | Anadolu Agency via Getty Images Turkey is on shaky ground and its currency depreciating as controversial monetary moves and fast-rising coronavirus cases threaten to plunge an
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson shares rose by more than 3% Tuesday in premarket trading after the U.S. drugmaker raised its quarterly dividend even as it cut full-year earnings guidance due to the coronavirus outbreak. J&J raised its dividend from 95 cents a
A worker carries out sanitation operations for the Coronavirus emergency in Piazza dei Miracoli near to the Tower of Pisa in a deserted town on March 17, 2020 in Pisa, Italy. Laura Lezza | Getty Images An increasing number of countries could default on their debt in the coming 12-18 months as governments globally increase
The coronavirus has now infected more than 200,000 people across New York state as the Covid-19 outbreak begins to slow and the country continues to ramp up its testing capacity. New cases across the state rose by 7,177 on Monday, bringing the total number of confirmed infections to 202,208, according to New York State Department
Shannon Stapleton | Reuters Professional investors are heading for the sidelines while demanding that companies stop using their cash to buy back stocks and instead improve their balance sheets. The Bank of America Global Fund Manager survey for April reflects the large level of caution seen in the markets since efforts to stop the coronavirus
urfinguss | Getty Images A fight could be brewing over your coronavirus stimulus check. Your opponent could be your very own bank. If you have outstanding debts, your stimulus payments could be reduced or taken by creditors or debt collectors, in what 25 state attorneys general called a “legislative oversight” in a letter sent to
Junior’s Cheesecake owner Alan Rosen said Tuesday that the money the restaurant company has received through the Treasury Department’s small business loan program is not enough to immediately bring workers off furlough. There is too much uncertainty about when the coronavirus pandemic will subside and when people will be comfortable to “sit shoulder to shoulder in our
TOPLINEA spate of lawsuits targeting gym chains—deemed non-essential businesses amid a near-national shutdown—over gym charges is just one bad sign for a huge industry that may have a hard time getting back into shape post-pandemic. A Planet Fitness in Reading, Massachusetts before the onset of Coronavirus. Dina Rudick/The Boston Globe via Getty Images KEY FACTS
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Beijing time. This blog will be updated throughout the day as the news breaks. Global cases: More than 1.97 million Global deaths: At least 125,678 Most cases reported: United States (602,989), Spain (172,541), Italy (162,488), France (131,361),
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