The exterior of buildings at the millionaires enclave on Fisher Island. (Photo by: Jeffrey … [+] Greenberg/Universal Images Group via Getty Images) Universal Images Group via Getty Images Fisher Island Community Association, the homeowners’ group in the exclusive island near Miami, has received approval for a $2 million loan through the federal Paycheck Protection Program
Month: April 2020
As the number of U.S. deaths swiftly approaches 50,000, attention has turned to states that are attempting to reopen to spur economic growth. Some U.S. governors have begun easing restrictions despite warnings from world health officials that it may be too soon to do so without sparking a second wave of Covid-19 infections. This is CNBC’s
Intel CEO Robert “Bob” Swan announces the company’s Tiger Lake chips at the technology fair CES. Christoph Dernbach | picture alliance | Getty Images Intel shares fell as much as 6% in extended trading on Thursday after the company reported earnings for its fiscal first quarter. Here are the key numbers: Earnings: $1.45 per share, adjusted
The Small Business Administration said Friday that hedge funds and private equity firms are ineligible for the small business relief program. The move comes after reports that hedge funds had applied for the first round of the Paycheck Protection Program. That fed into a public backlash after the program’s initial $350 billion was quickly exhausted and
As the number of Americans without jobs continues to rise, more states are providing unemployment benefits to gig workers and those who are self-employed. About 4.4 million new workers applied for unemployment in the week ending April 18, bringing the total number of out-of-work Americans to about 26.5 million over the past five weeks, the
Saudi Aramco crude oil storage at Ras Tunura, Saudi Arabia. Planet Labs The coronavirus crisis led to an unprecedented collapse in demand for oil and U.S. prices have rapidly fallen over the past week. In order for the price to stabilize, U.S. producers have to further cut their production or be forced to curb it
Getty Images More than 88 million individuals received a stimulus check from the IRS in the last three weeks, according to data from the federal agency. The Treasury Department and the IRS have distributed a total of $157.9 billion in so-called Economic Impact Payments. The federal government began depositing the cash into taxpayers’ bank accounts
Despite outrage on Main Street and new pressure from the Treasury Department this week, several publicly traded companies that received payroll relief funds from the Small Business Administration oppose demands to return the cash. The companies said the Paycheck Protection Program loans have allowed them to keep employees on payroll and that they disagree with
COVID-19 is particularly dangerous to many of our nation’s most vulnerable: those living in nursing homes. In some places, a state’s death rate from the disease is about 40-50% of all deaths from this pandemic. According to the Washington Post, the World Health Organization reported that almost half of the deaths from COVID-19 in Europe
HECMs plus Annuities have synergistic benefits for retirees © Can Stock Photo / gpointstudio HUD created this ingenious and multi-faceted reverse mortgage program, but its well-intentioned effort to protect it against misuse has been a disaster. The disaster has stemmed from HUD’s requirement that the HECM be a stand-alone product, as opposed to being part
Medical staff shows on February 26, 2020 packets of a Nivaquine, tablets containing chloroquine and Plaqueril, tablets containing hydroxychloroquine, drugs that has shown signs of effectiveness against coronavirus. Gerard Julien | AFP | Getty Images Citing a “primary outcome” of death, researchers cut short a study testing anti-malaria drug chloroquine as a potential treatment for Covid-19
Source: American Express Credit card issuer American Express posted a 76% drop in first-quarter profit on Friday, as it set aside $2.6 billion to cover potential losses stemming from the coronavirus outbreak. The pandemic has hammered the global economy, pushing companies to layoff employees by the millions. That, in turn, could weigh on credit card
8:00 am: Tyson downgraded on worries about planet closures Shares of Tyson Foods fell more than 1% in premarket trading on Friday following a downgrade to market-perform from outperform from AB Bernstein. The Wall Street firm said it has near-term uncertainty around Tyson’s ability to maintain production levels with closed production plants and absent workers.
The average American graduates college with more than $29,000 in student loans. And odds are they will be making monthly payments on those debts for the next 20 years of their lives. If you’re like many current or prospective parents, you want your kids to go to college without taking on burdensome loans. But knowing
Long-time professional traders watching the near implosion of the United States Oil Fund could only watch in wonder. “It tells me people always want to make a quick buck,” said John Davi, chief investment officer and founder of Astoria Portfolio Advisors. He was referring to retail investors who lost a boatload of money investing in
Wild market swings have taken a toll on retirement savers. The average 401(k) balance plunged 19%, to $91,400, in the first quarter of 2020, according to a new report by Fidelity Investments, the nation’s largest provider of 401(k) plans. The financial services firm handles more than 30 million retirement accounts altogether. The average individual retirement
A driver adjusts his face mask as Uber and Lyft drivers with Rideshare Drivers United and the Transport Workers Union of America conduct a ‘caravan protest’ outside the California Labor Commissioner’s office amidst the coronavirus pandemic on April 16, 2020 in Los Angeles, California. (Photo by Mario Tama/Getty Images) Mario Tama Some gig workers may
Millions of homeowners are now in forbearance, essentially pausing their monthly mortgage payments … [+] due to COVID-19. Getty More than 3.4 million American mortgage borrowers are now in forbearance—essentially hitting the pause button on their monthly payments for the foreseeable future. According to the latest data from financial data firm Black Knight, that’s up
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 2.7 million Global deaths: At least 190,490 Most cases reported: United States (866,646), Spain (213,024), Italy (189,973), France (159,460), and Germany (153,129). The data above was compiled by
An employee places a pizza box onto a shelf at a Domino’s Pizza Inc. restaurant in Chantilly, Virginia. Andrew Harrer | Bloomberg | Getty Images Domino’s Pizza on Thursday said that its U.S. same-store sales grew 7.1% in the first four weeks of its second quarter. However, the pizza chain withdrew its two- to three-year outlook,
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