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 3.65 million Global deaths: More than 256,800 Most cases reported: United States (over 1.2 million), Spain (over 219,300), Italy (over 213,000), United Kingdom (over 196,200), France (over
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Beyond Meat posted better-than-expected earnings for the first quarter Tuesday, but warned that it saw a drop in sales at the end of March as the coronavirus pandemic shuttered restaurants around the country.  Given the uncertainty regarding restaurant sales, the company withdrew its earnings forecast for the year. “I am proud of our first-quarter financial results,
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Naguib Sawiris, billionaire and chairman of Orascom Investment Holding. Sima Diab | Bloomberg | Getty Images Egyptian billionaire Naguib Sawiris says he would buy airlines, going against fellow billionaire investor Warren Buffett, who announced that Berkshire Hathaway sold all its airline stocks at the firm’s annual meeting on Saturday.  Sawiris, chairman and CEO of Orascom Investment
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Getty The IRS ruled that a Paycheck Protection Program (PPP) borrower who spends PPP funds on normal business expenses cannot deduct those expenditures for federal tax purposes.  But its position, which left many in congress wondering if the IRS missed the 335-page memo, may not be the last word.  Today, a bipartisan group of congressional leaders formally alerted the Treasury
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The Walt Disney character Mickey Mouse greets children at Magic Kingdom in Orlando, Florida. Getty Images Last year, Disney’s Parks, Experiences and Consumer Products segment was its fastest-growing profit driver. Now, it could be the company’s biggest drag on earnings, thanks to the Covid-19 outbreak. The coronavirus pandemic has caused many headaches for Disney. The
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U.S. stock futures rose slightly in overnight trading and pointed to modest gains at the open on Wednesday, following two positive sessions in the equity markets.  Fueling the rally is the growing number of states beginning to reopen their economies in the first two weeks of May, making investors optimistic the worst of the pandemic’s
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MSNBC: Answering your questions about coronavirus Monthly retirement for a $50,000 salary factoring in Social Security and savings Here’s how to get into the habit of saving more and spending less How to pay less in taxes on your Social Security benefits How to earn $40,000 in interest every year in retirement Here’s how to
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CNBC’s Jim Cramer said Monday that legendary investor Warren Buffett gave “no hope near term” in his annual shareholder meeting on Saturday with his sale of airline stocks. “Buffett’s overview on airlines really does make me very concerned about the near term,” Cramer said on “Squawk on the Street.”  The billionaire investor said Saturday that
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U.S. President Donald Trump speaks to reporters as Senator Roy Blunt (R-MO) and Small Business Administration (SBA) Administrator Jovita Carranza look on during a signing ceremony for the “Paycheck Protection Program and Health Care Enhancement Act,” approving additional coronavirus disease (COVID-19) relief for the U.S. economy and hospitals treating people sickened by the pandemic, in
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TOPLINE With Madison Square Garden successfully completing the separation of its sports and entertainment businesses last month, the spinoff created two separate stocks which are both currently undervalued, according to market experts. Revenue potential from The Sphere, Las Vegas project may be getting overlooked by the market. Eduardo Munoz/Corbis via Getty Images KEY FACTS Last
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WASHINGTON, DC – APRIL 27: The Internal Revenue Service headquarters building appeared to be mostly … [+] empty April 27, 2020 in the Federal Triangle section of Washington, DC. The IRS called about 10,000 volunteer employees back to work Monday at 10 of its mission critical locations to work on taxpayer correspondence, handling tax documents,
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