Ryan German has kept 40 employees working at his restaurant, Caffe Gelato, in Newark, Delaware. The Paycheck Protection Program provided a lifeline to help him through an unprecedented spring as the coronavirus pandemic tore through the country. The loan, now exhausted, covered seven weeks of payroll. But the restaurant is facing down an unknown future with
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Senate Majority Leader Mitch McConnell, R-Ky. Photo by Stefani Reynolds/Getty Images Republicans have introduced their proposal for the next coronavirus relief package, a $1 trillion plan called the HEALS Act. Notably absent from their agenda: relief for people with student debt. The plan calls for streamlining the number of repayment options, but wouldn’t extend the
The United States Capitol building at sunset, Washington DC, USA. getty One of the drumbeats of the current Congress is the need to be more fiscally responsible. That makes sense. Our current national debt is $26,536,793,171,015 – and growing. The federal deficit - so far for 2020 – is $2.744 trillion. That’s following a Congressional Budget Office
Are there cases when the amount of guaranteed income can be decreased? Generally, if an annuity contract states that a guaranteed income level remains for life then this is the case as long as distributions do not exceed the guaranteed levels. But some annuity providers make clear that there is an option to receive more
Real estate agents could have their license revoked if they engage in racial discrimination on the … [+] job. getty After a newspaper investigation uncovered widespread race-based discrimination in the Long Island housing market, New York has passed a bill that puts a real estate agent or broker’s license on the line if they are
Albert Bourla, Pfizer Gian Ehrenzeller | Keystone | AP President Donald Trump‘s executive orders aimed at lowering U.S. prescription drug costs will cause “enormous destruction” as the pharmaceutical industry races to develop vaccines and treatments for the coronavirus, Pfizer CEO Albert Bourla told investors Tuesday. Trump on Friday signed four executive orders designed to bring U.S. drug prices
A Jet Blue aircraft takes off from Long Beach Airport in Long Beach, CA. Tim Rue | Bloomberg | Getty Images JetBlue Airways on Tuesday said it swung to a loss in the second quarter and forecast that revenue will fall by about 80% in the third quarter as the coronavirus pandemic promises a choppy recovery
Traders wearing masks arrive before the opening bell at the New York Stock Exchange (NYSE) on May 26, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images Check out the companies making headlines in midday trading. McDonald’s — Shares of the restaurant chain slipped more than 2% after the company
The number of coronavirus cases in the U.S. surpassed 4 million in late July. Certain parts of the country have been hit particularly hard this month, including California and North Carolina, both places where I’ve recently spent time. After flying back to Los Angeles, where I currently live, from Charlotte, North Carolina, where my family lives, I
Virgin Galactic is giving its customers a first look inside the cabin that will carry them to the edge of space and back, as the space tourism company gets closer to finishing development of its spacecraft. “Every seat is a window seat,” Virgin Galactic design director Jeremy Brown told CNBC about the interior. The cabin’s design
Senate Majority Leader Mitch McConnell, R-Ky., leaves the Senate Republican Policy luncheon in Hart Building on Tuesday, July 21, 2020. Tom Williams | CQ-Roll Call, Inc. | Getty Images A second round of $1,200 stimulus checks could be coming, thanks to Senate Republicans’ new stimulus proposal. The terms of the new payments were outlined in
getty Separate and apart from the Paycheck Protection Program (“PPP”) is the Economic Injury Disaster Loan (“EIDL”) program. Initially enacted many years ago to provide loans to businesses that have suffered from major storms, droughts, and other federally-declared disasters, the SBA has already advanced over $150 billion in EIDL money to borrowers who have verified
Kemal Yildirim | E+ | Getty Images The Senate HEALS Act would allow business owners to take a temporary 100% tax deduction on business meals. The GOP’s $1 trillion proposal, which was released on Monday, calls for a range of relief measures to help buoy Americans during the coronavirus pandemic. Aside from offering another round
Mother multi-tasking with infant daughter in home office getty The American Workers, Families, and Employers Assistance ACT, one of the components of the HEALS package now moving in the Senate includes provisions that protect against nasty state income tax surprises. It also includes some recognition of the pervasiveness of gig workers. I’m thinking the latter
Hasier Larrea is the Co-Founder and CEO of Ori, the creator of smart space solutions for multifamily developers. See space differently. getty As coronavirus lockdowns have stretched on, urban cores have been the target of a number of widely shared articles predicting the demise of cities. Too crowded, too cramped, suddenly unable to provide us places
The Pfizer world headquarters stands in Midtown Manhattan in New York City. Drew Angerer | Getty Images Shares of pharmaceutical giant Pfizer rose in premarketing trading Tuesday after it reported better-than-expected second-quarter earnings and raised its outlook for 2020, despite a 32% drop in profit as demand fell for some of its drugs during the
Customers sit at McDonald’s outdoor seating in Union Square as the city moves into Phase 3 of re-opening following restrictions imposed to curb the coronavirus pandemic on July 7, 2020 in New York City. Alexi Rosenfeld | Getty Images McDonald’s is expected to report its second-quarter results before the bell on Tuesday. Here’s what Wall Street
Take a look at some of the biggest movers in the premarket: McDonald’s (MCD) – The restaurant chain reported quarterly profit of 66 cents per share, shy of the 74 cents a share consensus estimate. Revenue came in above Wall Street projections. Comparable-restaurant sales were down 23.9% globally, slightly wider than the 22.8% consensus estimate.
A smart phone with the icons for the J.P. Morgan apps. Christopher Wong | S3studio | Getty Images JPMorgan Chase is ditching plastic for some of its credit cards. The Wall Street giant’s commercial cards team is partnering with Bay Area start-up Marqeta to launch digital-only credit cards. The new function will allow JPMorgan corporate cards
skynesher | E+ | Getty Images You know you need a cash cushion. But the numbers can be daunting. Experts say you need three to six months of living expenses — or even more. If you’re put off by the numbers — how do you save when you can barely make ends meet? — focus