A Bank of America financial manager shows a customer how to use the ATM with Teller Assist station in Cherry Creek. Andy Cross | Denver Post | Getty Images Bank of America said it was boosting pay for bank tellers by $400 a month and reducing daily work shifts by at least two hours amid
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Wealthy New Yorkers fleeing the city are driving up the prices of rentals in the Hamptons and Hudson Valley, with rates more than tripling for some properties. As New York City considers “shelter in place” rules and the number of coronavirus cases skyrockets, New Yorkers who can afford it are decamping to more rural locales.
Daniel Harison, a barista at Velvette Brew, a coffee shop in Park Slope, Brooklyn. Greg Iacurci A palpable chill had settled over Park Slope on an otherwise beautiful Monday evening. The brownstone-lined streets of this South Brooklyn enclave, typically abuzz with commuters at peak rush hour, were near empty. Stores of all kinds — from
Tara Moore | Getty Images A bill proposed by Senate Majority Leader Mitch McConnell, R-Ky., calls for sending checks of $1,200 to $2,400 to most Americans as a result of the economic damage stemming from the coronavirus outbreak. Based on the language of the bill, most Social Security recipients should be covered. But whether that will
James Quincey, President and chief operating officer of the Coca-Cola company. Patrick Kovarik | AFP | Getty Images Coca-Cola on Friday said that it does not expect to meet its financial outlook for 2020 due to the impact of the coronavirus pandemic. Around the world, sporting events and concerts have been canceled, movie theaters and
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 245,000, according to data compiled by Johns Hopkins University. Global deaths: At least 10,031, according to data compiled by Johns
The private-jet industry is asking Congress for bailout money, even as many private jet companies say sales are strong as wealthy flyers avoid commercial flights. The National Business Aviation Association, or NBAA, which represents private-jet companies and corporate jets, sent a joint letter with other industry groups to congressional leaders saying the industry is facing
Traders work on the floor at the New York Stock Exchange, March 2, 2020. Brendan McDermid | Reuters 7:41 am: GOP senators face questions over stock sales before market plunge Republican senators Richard Burr of North Carolina and Kelly Loeffler of Georgia are facing questions over their decision to sell large equity holdings before global
CNBC’s Jim Cramer said Friday he fears that the coronavirus-driven halt in the economy could leave the U.S. with only three retailers after the crisis ends. “If we come out of this sooner, then other, small businesses can open. If we come out of this later, there are going to be three retailers in this country,”
US Secretary of Education Betsy DeVos Saul Loeb | AFP | Getty Images U.S. Department of Education Secretary Betsy DeVos announced on Friday that student loan borrowers could put their monthly payments on pause for at least 60 days during the coronavirus outbreak. DeVos said this pause, coupled with the suspension of interest on student
A man cleans the windows at his store on March 17, 2020 in the Brooklyn Borough of New York City. – The coronavirus outbreak has transformed the US virtually overnight from a place of boundless consumerism to one suddenly constrained by nesting and social distancing.The crisis tests all retailers, leading to temporary store closures at
Factory farming, better refrigeration and globalization have all transformed billions of people’s diets. From beef, chicken and fresh seafood to exotic fruits and vegetables flown in from around the world, we are now spoilt for choice when it comes deciding what to put on our plates. Many diets are now based around meat, while dairy
Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City. Spencer Platt | Getty Images Check out the companies making headlines after the bell. Crowdstrike — The cybersecurity company’s stock soared 19% in extended trading after the company posted fourth-quarter revenue that exceeded analysts’ expectations. Crowdstrike
A shopper prepares to pay for items at a Kohl’s department store in Peru, Illinois, May 16, 2019. Daniel Acker | Bloomberg | Getty Images Kohl’s has withdrawn its earnings outlook for the current quarter and fiscal year, as it grapples with the hit it will take from the coronavirus pandemic. The department store chain will
Billionaire entrepreneur Mark Cuban told CNBC on Wednesday that companies that get federal assistance in response to the coronavirus crisis should be prevented from buying back stock ever again. “No buybacks. Not now. Not a year from now. Not 20 years from now. Not ever,” Cuban said on “Squawk Box.” “Because effectively you’re spending taxpayer money to buyback
U.S. Senate Minority Leader Sen. Chuck Schumer (D-NY) speaks during a news conference at the U.S. Capitol March 17, 2020 in Washington, DC. Alex Wong Senate Democrats are proposing that the federal government cancel student loan payments throughout the coronavirus outbreak and forgive at least $10,000 of the debt for each borrower. The plan unveiled
Small businesses are switching up their models in a fight to survive during the coronavirus crisis — some in unexpected ways. Businesses including condom-makers, gin producers and food manufacturers are seeing consumers react in different ways as they self-isolate or reduce social contact. Small businesses generate 44% of U.S. economic activity, and around half of
Gov. Gavin Newsom at a news conference in Sacramento, Calif., Monday, Sept. 16, 2019. Rich Pedroncelli | AP California Governor Gavin Newsom on Thursday issued a statewide order for all residents to ‘stay at home’ amid a coronavirus outbreak. “We need to bend the curve in the state of California,” Governor Gavin Newsom said, as
Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion
If you have cash parked in a money market fund that invests in non-U.S. Treasury debt, the Federal Reserve says it’s got your back. Late Wednesday, the Fed announced a new program that will make loans to financial institutions that buy shares in “prime” money market mutual funds, whose investments include corporate bonds. It’s the