WASHINGTON, DC – MAY 20: Speaker of the House Nancy Pelosi (D-CA) holds her weekly news conference … [+] at the U.S. Capitol. (Photo by Chip Somodevilla/Getty Images) Getty Images The major individual income tax provisions in the House-passed Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act would cut taxes by an average of
Month: May 2020
A broad coalition of New York City leaders are calling on the mayor to freeze property taxes. Getty A broad coalition of city leaders, from business to civic groups, is urging Mayor Bill de Blasio to put a freeze on property tax bills and provide relief for property owners who are struggling with their payments
Heidi Bess, Owner of Candlelight Cottages in Bolton New York, said customers are anxious to get out of their house after being housebound for months. Source: Heidi Bess Memorial Day is the unofficial start of summer but the water parks are dry, amusement parks are shuttered and national parks are only beginning to reopen. For
CNBC’s Jim Cramer said Tuesday that large retailers in the U.S. such as Walmart benefited from the coronavirus-related restrictions on businesses, contending this week’s earnings reports will reflect the top-heavy nature of the economy. “It looks like the big guys won. You have them basically cordoned off as essential services. So many other companies, little companies, medium,
Take a look at some of the biggest movers in the premarket: Deere (DE) – The construction equipment maker reported fiscal second-quarter earnings of $2.11 per share, compared to the consensus estimate of $1.62 a share. Revenue beat estimates as well. Deere said it expects global equipment sales to fall 30% to 40% this year
The rise of artificial intelligence will make even software engineers less sought after. That’s because artificial intelligence will soon write its own software, according to Jack Dorsey, the tech billionaire boss of Twitter and Square. And that’s going to put some beginning-level software engineers in a tough spot. “We talk a lot about the self-driving
Hispanolistic Over 152 million stimulus checks have been issued to individuals over the last six weeks, according to data from the U.S. Treasury Department and Internal Revenue Service. In all, the agencies have distributed $257.9 billion in Economic Impact Payments. Uncle Sam began depositing the funds into taxpayers’ bank accounts in mid-April. The average payment came
PuroClean restoration specialists do deep Covid-19 cleaning for the Barlett Fire department in Tennessee. Steve White, the company’s president and COO, instituted protocols from day one to ensure business operations continue in case of any unforeseen disaster, something he learned as a former U.S. Army infantry officer. PuroClean If you want to see how an
Be sure to understand the implication of mortgage forbearance Getty I have heard disturbing reports that some mortgage borrowers who are able to make their monthly payments have opted to take advantage of the forbearance option offered by lenders — evidently because they view forbearance as a benefit. It is a benefit for borrowers who
Actor Sean Penn, on April 9th, outside a free Malibu, Calif. coronavirus testing site that his … [+] charity helped organize. Penn can afford a Social Security benefits cut, but a lot of other boomers born in 1960 can’t. ASSOCIATED PRESS/Chris Pizzello Bad news for Sean Penn, RuPaul, Amy Klobuchar, Adam Schiff and the nearly
Today’s low mortgage rates are helping home buyers, but they might also lead to future inventory … [+] shortages and affordability challenges. Getty In a coronavirus-created environment of severe inventory shortages and rising prices, home shoppers do have one advantage in the form of extremely low interest rates. Yet, while propitious today, the latter bear
A doctor involved in a U.S. coronavirus vaccine study said he is hopeful but not convinced that an injection will be available for circulation this year. Dr. Carlos del Rio, an Emory University professor of medicine, told CNBC on Friday that a Covid-19 vaccine could be ready in some form for distribution by the end
Customers wait in line at Xiaomi’s flagship store in Mong Kok, Hong Kong. Miguel Candela | SOPA Images | LightRocket | Getty Images Xiaomi reported a 13.6% rise in first-quarter revenue on Wednesday, beating estimates, as the Chinese smartphone maker sold more phones and benefited from sales of its higher-priced 5G models. The company managed
In a normal year, sports fans would be gearing up for the NBA playoffs at the end of May. This spring, with no live competition, some are searching for thrills in the stock market. U.S. brokerage firms have seen a flood of retail trading activity in recent months. Analysts say a lack of pro sports-betting
Amazon released its first smartphone, the Fire Phone, in July 2014, and the device was broadly considered a “debacle,” “a fiasco,” “a surprising disappointment.” By September 2015, Amazon stopped selling the Fire Phone. It was the type of high-profile flop that might lead some CEOs to start angrily pointing fingers, but not Jeff Bezos. “You
Jeff Lawson, CEO, Twilio Scott Mlyn | CNBC An index of cloud stocks developed by venture-capital firm Bessemer Venture Partners reached new highs this week as U.S. indexes still recover from the selloff that began in February. The BVP Nasdaq Emerging Cloud Index, established in 2013, is up about 31% for the year, while the S&P
College graduates will soon be hit with their first student loan bill aywan88 | E+ | Getty Images When Democratic presidential candidates Bernie Sanders and Elizabeth Warren dropped out of the race, it seemed that proposals to tackle student loan debt would go away, too. They haven’t. Between the impact of the coronavirus pandemic and
New Jersey restaurant owner Chris Clayton told CNBC on Friday that giving businesses the green light to reopen during the coronavirus pandemic does not guarantee their survival. “Open is a four-letter word,” Clayton said on “Squawk Alley.” ”Just being open doesn’t mean that you’re not going to go under. You need to be open enough, especially for
PPP loan borrowers tackle the new paycheck protection program forgiveness application Getty Businesses that obtained Paycheck Protection Program (PPP) loans now – as of May 15 – have a recipe to follow to have the loans forgiven. They have 56 days after the receipt of the proceeds to spend the money. If all the requirements are
Getty Why does the SBA require that a Paycheck Protection Program (“PPP”) borrower use 75% of the PPP proceeds on “payroll costs”? It’s a curious question. It’s particularly curious given that the CARES Act itself does not require this. In fact, the CARES Act actually says that a borrower can spend the loan proceeds on other costs—and even mandates forgiveness for
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