Vehicles travel along Gloucester Road past commercial buildings in the Wan Chai district of Hong… [+] Kong this month. The coronavirus pandemic has clouded the economic outlook. Photographer: Paul Yeung/Bloomberg © 2020 Bloomberg Finance LP Investment in Asia-Pacific commercial real estate plunged by 26% during the first quarter of 2020 as the spread of COVID-19
Month: May 2020
People walk in front of a Louis Vuitton store covered up with plywood windows and entrances to prevent looting during the outbreak of the coronavirus disease (COVID-19) in New York, March 31, 2020. Eduardo Munoz | Reuters Global sales of luxury goods are headed for a collapse in the next few months, as the coronavirus
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana tumbled double digits during after-market trading following the auto retailer reporting a net loss of $183.6 million during the first quarter. The company’s loss widened by 122.3% compared to it losing $82.6 million during the first quarter of 2019. The used-car e-commerce platform reported
Check out the companies making headlines after the bell. Booking Holdings — The travel booking service’s stock whipsawed in extended trading after the company released its first-quarter earnings. Booking Holdings said it had earnings of $3.77 per share excluding some items with revenue of $2.29 billion, while analysts estimated earnings of $5.64 per share on
Charles Schwab has released more details about its new fractional investing feature, which is reportedly debuting June 9. Called Schwab Stock Slices, investors will be able to trade fractional shares of any S&P 500 company starting at $5 each. Traditionally, to buy an individual stock you needed to at least cover the price of one share,
Mehmet Ali Ozcan | Anadolu Agency | Getty Images A rally in bitcoin led the cryptocurrency market higher ahead of a major technical event for the digital coin and as industry participants report an increased interest from institutional investors. Bitcoin crossed $10,000 on Friday morning Singapore time, the first time it has hit that price
New Yorkers giving thanks to all the frontline workers on April 4th, 2020. Adam Jeffery | CNBC New York residents struggling amid the coronavirus pandemic can’t be evicted by their landlords until at least Aug. 20, Gov. Andrew Cuomo said Thursday. Cuomo’s announcement extends the state’s previous moratorium on evictions, which lasted only through June. “I don’t
With the U.S. economy largely shut down and the number of jobless Americans growing by millions each week, lawmakers in March moved swiftly to approve a historic stimulus package that would inject trillions of dollars into the economy as incomes and revenues evaporated. The Coronavirus Aid, Relief, and Economic Security, or CARES, Act injects
401(k) Champion Award® Jackson, Grant Investment Advisers, Inc. At a time when we are working hard to survive during this pandemic, we must not forget that we have a future. Well before the coronavirus arrived on the scene, I was on the lookout for peer-to-peer 401(k) influencers. In that role, I initiated a nationwide search for
As the Paycheck Protection Program unfolded, one of the biggest disappointments was IRS giving notice that payments made under the program would not be deductible. A few foresighted souls had seen that coming, but the general view was that they would be deductible, since denying the deductions made the provision of the act indicating that
Getty Even though some real estate mavens declared the iBuying model dead when major players suspended their home purchases in late March due to the coronavirus pandemic, the segment seems to have only fallen into a slumber, from which it is now awaking. After a month-long hiatus, Opendoor, Offerpad, Redfin RDFN and Zillow Z have
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 3.8 million Global deaths: More than 268,000 Most cases reported: United States (1,254,740), Spain (221,447), Italy (215,858), United Kingdom (207,977), and Russia (177,160). The data above was
Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California. Ezra Shaw | Getty Images Peloton‘s revenue surged 66% during the fiscal third quarter, as more people purchased its fitness equipment and tuned into its live classes, to try to break a sweat while stuck at home
U.S. stock futures rose Thursday night after more gains in tech led to the Nasdaq Composite erasing all of its losses for 2020. Dow Jones Industrial Average futures were up by 133 points, or about 0.6%. S&P 500 and Nasdaq 100 futures traded higher by 0.6% each. The tech-heavy Nasdaq rose 1.4% during the cash
The coronavirus pandemic has forced schools to shut their doors and forced students to take their classes — and exams — online. This year, some 3.4 million students are registered to take AP Exams, which are designed to test high school students’ understanding of college-level material, online between May 11 and May 22. With schools across
Peloton machine Source: Peloton Many on Wall Street were convinced the usual playbook would occur when this market and economic downturn hit. Bubble-like tech stocks that led the way up would get crushed as a bear market exposed their hype and sent stock speculators scrambling. But the opposite has happened. The names skeptics used to
US President Donald Trump speaks about COVID-19, known as coronavirus, after signing a Proclamation in honor of National Nurses Day in the Oval Office of the White House in Washington, DC, May 6, 2020. Saul Loeb | AFP | Getty Images The White House is weighing a second Tax Day delay, according to NBC News.
Odds are the screen you are using to read this was hauled in a truck at some point. More than 70% of freight in the U.S. is moved by truckers, making the job an essential part of the economy. Eight years ago, April Coolidge decided in her mid-40s to stop selling real estate and start
By singling out state and local pensions as undeserving of coronavirus relief, McConnell has … [+] redirected national attention to the pre-existing public pension underfunding crisis. Americans are rallying in support of police, firefighters, and school teachers. ASSOCIATED PRESS By singling out state and local pensions as undeserving of coronavirus relief, Mitch McConnell has redirected
The Fed’s historic $500 billion intervention will help stabilize the muni market. But it won’t solve the plummeting state and local budgets caused by the pandemic recession. Federal Reserve Chairman Jerome Powell is overseeing a historic intervention in municipal bond … [+] markets. (Photo by Federal Reserve via Getty Images) Getty Images Among the extraordinary policy
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