Getty Roughly 7.5% of home loans were in forbearance as of April 26, according to the latest tracking survey conducted by the Mortgage Bankers Association. Translating to 3.8 million American homeowners with payment suspension plans, that percentage is expected to keep climbing up. “With millions more Americans filing for unemployment over the week, the level
Month: May 2020
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 3.74 million Global deaths: At least 263,000 Most cases reported: United States (1,227,430), Spain (220,325), Italy (214,457), United Kingdom (202,356), France (174,224). The data above was compiled by
A driver unloads merchandise from a delivery truck outside a CVS Health Corp. location in New Rochelle, New York, U.S., on Monday, March 16, 2020. Angus Mordant | Bloomberg | Getty Images CVS Health shares rose nearly 5% in premarket trading Wednesday after the company reported a huge jump in sales at its stores as customers
Spirit Airlines aircraft seen at Los Angeles International Airport. Alex Tai | SOPA Images | LightRocket via Getty Images Check out the companies making headlines after the bell. Lyft — The rideshare company’s stock soared 15% in extended trading after Lyft reported first-quarter earnings. The company reported 21.2 million active riders in the first quarter, a
Chicago-based millennial Alex Sanchez earned more than $230,000 last year. The bulk of his income came from his day job: He works about 60 hours a week as an overhead lineman for an electrical utilities company. Between his $120,000 base salary, $10,000 annual bonus and overtime pay, he makes more than $200,000. The 25-year-old also brings
Warren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBC Warren Buffett made a lot of news at Berkshire Hathaway‘s first virtual annual meeting on Saturday, including revealing that he sold all his airline stocks and didn’t see any value in any major acquisitions amid the coronavirus pullback in stocks. The 89-year-old
rmbarricarte When John Vogt, Jr. wondered where his stimulus check was, he was shocked to find out that he was not eligible for one. Vogt, 49, of Bronx, N.Y., is a fourth-generation American. In July, he married to a woman who is a Brazilian citizen. This year, they filed a joint tax return as a
Sens. Elizabeth Warren, D-Mass., center, Amy Klobuchar, D-Minn., and Senate Minority Leader Charles Schumer, D-N.Y., conduct a news conference after the Senate Policy luncheons in the Capitol, March 14, 2017. Tom Williams | CQ Roll Call | Getty Images Sens. Amy Klobuchar, D-Minn., and Elizabeth Warren, D-Mass., are pushing the Federal Trade Commission to take
Getty The Internal Revenue Service has issued a series of questions and answers regarding the CARES Act coronavirus-related relief for retirement plans and Individual Retirement Accounts. That’s helpful as folks consider tapping these accounts in the economic downturn. As of April 17, Fidelity Investments found that 164,950 individuals (nearly 1 out of 100) covered under
Getty The SBA issued a FAQ extending the due date to seek relief under the SBA’s safe harbor for borrowers who made incorrect certifications during the PPP loan process. The extension provides borrowers with an opportunity to repay proceeds by May 14, 2020 as part of a voluntary disclosure process whereby the SBA will deem the
At least 30 million Americans have filed for unemployment in the past six weeks. mpi43/MediaPunch/MediaPunch/IPx 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
Gap Inc. is preparing to reopen 800 of its apparel shops by the end of May, as states such as Texas and South Carolina slowly begin to lift lockdown restrictions that were put into place due to the coronavirus pandemic. The San Francisco-headquartered company, which owns Banana Republic, Old Navy and Athleta, joins a growing list of
People walk past the New York Times building on October 14, 2019 in New York City. Eduardo Munoz Alvarez | VIEW press | Corbis | Getty Images The New York Times Company said Wednesday it expects advertising revenue to fall between 50-55% year-over-year in the second quarter as impacts of the pandemic are hitting demand for
New York Stock Exchange building is seen at the Financial District in New York City, United States on March 29, 2020. Tayfun Coskun | Anadolu Agency | Getty Images This is a live blog. Check back for updates. 7:50 am: Disney slides after suspending dividend Disney announced that is was suspending its dividend for the
In February, Barbara Corcoran, founder of real estate brokerage firm Corcoran Group and judge on ABC’s “Shark Tank,” was nearly scammed out of $400,000. “Scammers found their way to me in the most clever and simple way,” she tells CNBC Make It. The scammers emailed Corcoran’s bookkeeper pretending to be her assistant. The message contained
CNBC’s Jim Cramer said Wednesday that investors cannot ignore the rising popularity of plant-based meat products. “This movement is happening. You’ve got to get on the bus or … get left behind,” Cramer said on “Squawk on the Street.” Cramer acknowledged there are not huge sales just yet for a company like Beyond Meat, which after-the-bell Tuesday
Medicare isn’t free. And for beneficiaries whose income suddenly has dropped, that fact may now be more challenging. More than a third (37%) of Medicare recipients have experienced income loss due to the coronavirus crisis, according to a recent survey from ehealth.com. Younger beneficiaries are more likely to have suffered: 40% of respondents age 65
toondelamour Business owners who received loans through the Paycheck Protection Program and don’t need it have until May 14 to return the cash. The PPP – a forgivable loan program that allows small businesses to cover up to eight weeks of payroll costs, mortgage interest and other expenses – was just refilled to the tune
TOPLINE A day after warning that it may be forced to file for bankruptcy, Norwegian Cruise Line on Wednesday announced that it had raised over $2 billion in funding to ensure that the company can withstand “well over” a year without revenue amid the coronavirus pandemic. The company now has enough liquidity to weather coronavirus
Relatives of Americans who have passed away are receiving COVID-19 stimulus payments (or Economic Impact Payments) from the U.S. Treasury Department meant for the newly departed. Opinions on what to do with the money abound, from “rest easy, there’s no provision in the law to claw back the money,” to President Trump’s assertion that “[the government
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