More and more state officials are hitting pause or rolling back efforts to reopen the economy as the coronavirus spreads to new communities and gains speed in many parts of the U.S. Arizona Gov. Doug Ducey became the latest official to roll back reopening in his state late Monday after weeks of increasing cases. On
Month: June 2020
Adam Jeffery | CNBC Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard, which warned that investors were over-estimating a quick recovery in U.S. corporate earnings. Charles Dumas, chief economist at the economic research firm, told CNBC Tuesday that ”the
Micron Technology’s hard drive for data center customers is presented at a product launch event in San Francisco, October 24, 2019. Stephen Nellis | Reuters Check out the companies making headlines in midday trading. Micron — Micron traded more than 6% higher after the chip manufacturer posted better-than-expected results for the previous quarter. The company posted an
From January through May, 10.9% of the global population of 2,825 billionaires made confirmed monetary donations to Covid-19 pandemic-related causes, according to a report published Tuesday by Wealth-X, a market research firm covering the world’s wealthiest people. Other billionaires could have given money through a third party or anonymously, a Wealth-X spokesperson tells CNBC Make It,
The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018. Ivan Alvarado | Reuters Amazon Web Services, the cloud-computing branch of the e-commerce giant, is further expanding its services in the growing space industry. The company announced
Bloom Productions Financial advisors are largely an optimistic bunch when it comes to growing their practices, new research shows. Yet they know they have some work to do to make that happen. While most advisors expect growth in their assets under management to come primarily from new and existing clients rather than market returns, they
Billionaire global investor Barry Sternlicht told CNBC on Tuesday that the U.S. could end up in a downward spiral of economic pain if the businesses cannot get back to operating due to the coronavirus. “If we don’t get people back to work and the enterprises back to getting revenues and profits, there is going to be extreme
TOPLINE The stock market finished higher on Tuesday, closing out its best quarter since 1998 despite a rising number of coronavirus cases across the country—as many states pause or walk back reopening plans altogether. The market had its best second quarter in decades. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average was up
In March 2020, The Australian Taxation Office (ATO), the entity responsible for tax administration in Australia similar to the IRS in the US, was in the process of initiating the largest crypto tax crackdown. As news.com.au reported, the ATO was planning to send out crypto tax warning letters to 350,000 Australians. We are now seeing
Forbes announced its first Impact 50 List in late 2019. What a difference six months makes. Impact investors are not just our canaries in a coal mine – they can shine a path forward that aligns our economic engines with our humanity. And there’s room for more investors and leaders on this road. I’m sitting
New cases of the coronavirus continued to surge over the weekend across several U.S. states, mostly in the American South and West. Amid the rise in new cases, Health and Human Services Secretary Alex Azar warned Sunday that the “window is closing” to curb the spread of the virus and get the outbreak under control. This is CNBC’s
Micron Technology’s hard drive for data center customers is presented at a product launch event in San Francisco, October 24, 2019. Stephen Nellis | Reuters Micron Technology on Monday forecast current-quarter revenue above Wall Street estimates as home-bound employees and students spur demand for its chips that power notebooks and data centers, sending its shares
New York Stock Exchange (NYSE) building is seen with the Fearless Girl Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020. Tayfun Coskun | Anadolu Agency | Getty Images This is a live blog. Please check back for updates. 7:49 am: Powell and Mnuchin to testify before the
People walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Spencer Platt | Getty Images Wells Fargo warned on Monday that it will likely cut its dividend after the Federal Reserve announced it would cap dividends for banks based on earnings. Wall Street analysts pointed to Wells Fargo as
Lauren Bringle Jackson, 32, has occasional flashbacks to the 2008-09 recession. Source: Lauren Bringle Jackson Millennials have a dubious distinction: Smacked for the second time in young adulthood by a global economic meltdown. Maybe this time, they are more aware of what’s coming. More than half of millennials said they expected the pandemic to have
Jovita Carranza, head of the Small Business Administration, listens during a roundtable discussion with governors and small-business owners. Alex Wong/Getty Images The Paycheck Protection Program is ending, meaning ailing small businesses will need to look elsewhere for funding. But where to turn? While there are other options that may be of help to entrepreneurs during
Some of the cast of the HBO show “Succession” the Golden Globe Awards Chris Pizzello/Invision/AP Anyone who’s watched the Roy family spar in the HBO series Succession would be tempted to run 100 miles in the opposite direction of a family meeting. Despite the tranquil backdrops for these gatherings – such as a sprawling ranch
Getty The Department of the Treasury and the Internal Revenue Service (IRS) have announced that the 2019 tax filing deadline remains July 15, 2020. Due to COVID-19, the original filing deadline and tax payment due date for 2019 was postponed from April 15, 2020, to July 15, 2020. With many states still under travel and
Seniors, considered at high risk for Covid-19, are re-evaluating their living arrangements. Getty Are you one of the millions of active adults, as developers and builders refer to the 50-plus segment, whose relocation plans have been impacted by coronavirus concerns and the Covid-19 pandemic? According to Senior Housing News, a trade magazine for the industry
A worker welding truck parts at a factory in Weihai, China, October 18, 2018. STR | AFP | Getty Images China on Tuesday said manufacturing activity expanded in June with the official Purchasing Manager’s Index coming in at 50.9. Economists polled by Reuters had expected the official manufacturing PMI number to come in at 50.4. PMI readings
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