Elenaleonova | Getty Images Online tax preparation service TurboTax has launched a free stimulus registration website so that Americans who do not typically file tax returns can get their relief checks faster. Millions of Americans are slated to get one-time government checks of up to $1,200 or $2,400, based on whether they are single or
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The Chinese national flag flies at half-mast at the Tienanmen Square to mourn victims of COVID-19 on April 4, 2020 in Beijing, China. China will hold a national mourning on Saturday for martyrs who died in the fight against the novel coronavirus and compatriots died of COVID-19, according to the State Council. Fred Lee |
Silver Diner regional manager Omar Martinez, chef Ricardo Alvarez and operating partner Mandeep Shrestha carry out the last of that day’s 400 free meals to be given away during the coronavirus pandemic April 02, 2020 in Gaithersburg, Maryland. Chip Somodevilla | Getty Images Activity in the U.S. services sector slowed down in March as business
A barista packs a coffee for online sales at a Luckin Coffee store in Beijing, China July 17, 2018. Jason Lee | Reuters Here we go again. It sounds outrageous: The chief operating officer of Luckin Coffee, the largest domestic coffee chain in the China, was accused by his own company of fabricating much of
Film producer Jeffrey Katzenberg said Friday he doesn’t think the movie industry has to choose between releasing movies on the big screen or debuting them on streaming services. “I don’t think these things are mutually exclusive,” the co-founder of DreamWorks Animation said on CNBC’s “Closing Bell.” In fact, Katzenberg said he believes the film industry
In times of market downturns, many of the stocks that take a beating will eventually rebound. Others, not so much. For investors who have a big portion of their assets in one particular stock, the current drubbing may serve as a reminder that diversification matters. It might also be time to make sure you still
American Airlines passenger planes crowd a runway where they are parked due to flight reductions to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. Nick Oxford | REUTERS U.S. airline executives face a test to see which sacrifices they are willing to make in exchange
Chime Banking logo is seen displayed on a smartphone. Rafael Henrique | LightRocket | Getty Images Chime, the biggest U.S. digital bank start-up, is piloting a way for its users to receive their federal $1,200 stimulus checks instantly, weeks before the government is expected to send the payments. The San Francisco-based company said it randomly
The stock market could still touch new lows as uncertainty around the coronavirus pandemic persists, Mohamed El-Erian said Friday. “I don’t think we’re forming a bottom yet. I think we’re going down at a slower rate,” the chief economic advisor at Allianz said on CNBC’s “Squawk Box.” “There is a very important distinction there.” Calling a
Carlina Teteris Business owners have been eagerly anticipating a $349 billion loan program meant to cushion the economic blow of the coronavirus pandemic. Some will have to wait a little longer. The Paycheck Protection Program, which officially opened for borrowers Friday morning, provides up to $10 million in forgivable loans to small businesses with 500
Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department changed the terms on some loans it’s offering to small businesses during the coronavirus pandemic, making them more unfavorable
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 1,026,900 Global deaths: At least 53,975 US cases: At least 245,500 US deaths: At least 6,058 The data
People walk on Wall St. outside the New York Stock Exchange, August 7, 2019. Brendan McDermid | Reuters This is a live blog. Please check back for updates. 9:07 am: Oil rally by the numbers WTI is up almost 31% this week, on pace for its best week on record (back to contract inception in 1983)
Brian Moynihan, CEO, Bank of America Scott Mlyn | CNBC Bank of America says it is capable of accepting online applications for the government’s $350 billion small business relief program, becoming the first major bank to make that announcement. Just minutes earlier on Friday, none of the websites of four of the biggest U.S. banks —
A field hospital is set up by Samaritan’s Purse, a Christian humanitarian aid organization, and FEMA at the East Meadow in Central Park amid a coronavirus disease (COVID-19) outbreak in New York City, U.S., March 30, 2020. Aleksandra Michalska | Reuters Fourteen white tents opened for business in New York’s famed Central Park this week
Jourdain Degarmo, CEO of Mr. Muggles’ Dogs Joe Drypolcher Jourdain Degarmo had to lay off all seven employees from his doggie day care in San Francisco last month after California’s shelter-in-place order required non-essential workers to stay home. Degarmo has continued paying salaries with his cash on hand but needs help from the government to keep
Volunteers dressed in protective suits, masks, gloves and goggles carrying blood and throat mucous samples to test for COVID-19 on March 27, 2020 in Berlin, Germany. Sean Gallup | Getty Images This is a live blog. Please check back for updates. Global cases: More than 1,011,000. Global deaths: At least 52,800. Top 5 countries: United States (242,182),
Hedge fund manager Mark Yusko is telling investors to brace for a nearly once in a lifetime downturn. The Morgan Creek Capital Management CEO and CIO sees the Great Depression as the closest comparison to what’s happening to the coronavirus ravaged economy. “The economic shock wave that’s coming is going to be like nothing that
Kynikos Associates Founder Jim Chanos told CNBC on Thursday that he just closed a bet against Chinese coffee chain Luckin on Thursday after first taking a short position earlier in the year on advice from fellow short-seller Carson Block and his firm, Muddy Waters Research. Luckin Coffee is down more than 70% on Thursday after
As millions of jobs are lost to the coronavirus pandemic, almost half of low-income Americans say they expect to burn through their savings within three months, according to a survey released Thursday. The government’s monthly employment numbers for March, due to be released Friday, are expected to show an unprecedented surge in layoffs by businesses