The Henry Ford II World Center, headquarters of the Ford Motor Company in Dearborn, Michigan. James Leynse | Corbis | Getty Images DETROIT — Ford Motor remains under federal investigation as part of a multi-year corruption probe into the United Auto Workers union, according to the lead prosecutor on the investigation. U.S. Attorney Matthew Schneider told CNBC that
Month: August 2020
Aneel Bhusri at the 2016 World Economic Forum in Davos, Switzerland. David A. Grogan | CNBC Workday shares rose as much as 13% in extended trading on Thursday after the cloud software company reported better-than-expected quarterly revenue and earnings. The company also said Chano Fernandez is being promoted from co-president to co-CEO, operating alongside Aneel
Futures tied to major U.S. equity benchmarks were flat in overnight trading on Thursday as Wall Street attempts to build on its record-breaking rally. The Dow Jones Industrial Average futures gained just 30 points. The S&P 500 futures and the Nasdaq 100 futures were both little changed. The S&P 500 reached a new all-time high
In a major policy pivot, the Federal Reserve said it will allow inflation to run “hotter than normal” to help the economy bounce back from the coronavirus crisis. That means the Fed will be less inclined to hike interest rates, letting borrowers benefit from cheap money for an extended period of time. “This kind of
Through fast timing and big bets, Todd McKinnon grew his cloud security company, Okta, into a $27 billion business. Now the largest opportunity of his career has landed in his lap: a worldwide pandemic. Todd McKinnon sits in front of his green screen, with a boyish face but weary eyes, talking about his guilt. Over 10%
There are potentially serious consequences if Social Security’s payroll taxes are permanently … [+] reduced or eliminated. getty President Trump has made statements recently about the possibility of reducing or eliminating the payroll tax that funds Social Security’s benefits. Understandably, these statements are generating a lot of concern among all quarters, due to the potentially
NAPLES, CAMPANIA, ITALY – 2020/06/12: A medical technician works in the laboratory of the Infectious … [+] diseases department for coronavirus (COVID-19)handling samples of coronavirus COVID 19 tests at the microbiology laboratory of Naples. (Photo by Salvatore Laporta/KONTROLAB/LightRocket via Getty Images) KONTROLAB/LightRocket via Getty Images Daily rapid home testing may be what allows us to
Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. Jason Lee | Reuters The apparel maker Gap Inc. pivoted its supply chain early on in the coronavirus pandemic to make face masks. And
Gap Inc. said Thursday its total sales tumbled 18% during the latest quarter, as e-commerce revenue surged 95% from a year ago, but those gains were offset by a 48% drop in store sales during the coronavirus pandemic. It swung to a net loss from a year ago, as the lower sales combined with additional shipping
White House senior advisor Jared Kushner on Thursday praised Federal Reserve Chairman Jerome Powell for his leadership of the central bank’s response to the coronavirus pandemic. “Look, you really see what people are made of in times of crisis and I think that Chairman Powell has really stepped up to the plate, and he’s done a
Amazon CEO Jeff Bezos is now worth $202 billion, according to the Bloomberg Billionaires Index. Bezos is the first person to surpass the $200 billion threshold, CNBC reported, and remains the richest person in the world. For this milestone, Bezos can thank his company’s success, as most of his personal wealth is tied to his more than 57
CNBC’s Jim Cramer on Thursday praised the Federal Reserve and its chairman, Jerome Powell, for updating their approach to monetary policy to help the U.S. economy recover from the coronavirus pandemic. “Powell is on the side of the bulls,” Cramer said on “Squawk on the Street.” The Fed earlier Thursday said it would be willing to
Images By Tang Ming Tung Some Americans who are still waiting for their $1,200 coronavirus stimulus payments may be relieved to know their checks will soon be in the mail. The IRS announced this week that 50,000 people will receive catch-up payments for money that was withheld due to their spouse’s past-due child support. Catch-up
Hospital design experts Bryan Langlands and Teri Oelrich explains how healthcare facilities can make creative use of their spaces in order to reduce the social isolation felt by healthcare workers and patients. To reduce the number of times a patient’s room door is opened and the amount of personal protective … [+] equipment required, nurses
By Chris Farrell, Next Avenue Contributor Sean Sullivan and Robert Costa To analyze President Trump’s re-election policy proposals for Americans 50+, I’d planned to do what I did for my Joe Biden post: scrutinize the party platform and talk to analysts about it. Problem is, there is no 2020 Republican platform, even though Trump told delegates
A stack of bills past due for payment. getty Did you recently receive a penalty notice for your payroll tax deposit even though you remitted the correct amount? You’re not alone. The Internal Revenue Service (IRS) has announced that a “small population of employers” may have received notice that they were being assessed a failure
The governors of California and New York have now both said they will not follow controversial new guidance from the Centers for Disease Control and Prevention. The guidance says people without symptoms who have been exposed to infected people might not need to be tested for Covid-19, a reversal from the agency’s previous guidance. The
A Tiffany & Co. employee wears a protective mask as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 1, 2020 in New York City. The fourth phase allows outdoor arts and entertainment, sporting events without fans and media production. Cindy Ord | Getty Images Entertainment
The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter than normal in order to support the labor market and broader economy. In a move that Chairman Jerome Powell called a “robust updating” of Fed policy, the central bank formally agreed to a policy of
Some workers in the U.K. will be paid £130 ($172) if they are required to self-isolate amid the coronavirus pandemic, the British government announced Thursday. The payouts will be available to workers with low incomes who can’t work from home and live in areas with high numbers of confirmed coronavirus cases. Workers who test positive
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