US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski | AFP | Getty Images
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U.S. President Donald Trump speaks as Vice President Mike Pence looks on during a news briefing on the latest development of the coronavirus outbreak in the U.S. at the James Brady Press Briefing Room at the White House March 18, 2020 in Washington, DC. Alex Wong | Getty Images The COVID-19 pandemic is a matter
American Airlines‘ CEO Doug Parker has never seen anything like this, even after 9/11 when airlines were briefly shutdown following terrorist attacks using commercial airplanes. In fact, Parker says the economic fallout from the coronavirus pandemic is far worse for the industry than the crisis airlines faced after 9/11 when airplanes were briefly grounded and demand lagged for more
A take-out order from a Darden Restaurants Inc. Olive Garden. Daniel Acker | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. Shares of the company rose 5% in premarket trading. Darden also withdrew its fiscal 2020 outlook and suspended its quarterly dividend, citing the uncertainty it faces as states mandate
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Thursday that whatever happens on the other side of the coronavirus crisis CEOs should not benefit more than their employees. The “Mad Money” host was lamenting the moral hazards of the 2008 financial crisis when companies got bailouts and chief executives got incentives as many
Traders work on the floor at the New York Stock Exchange October 31, 2019. Brendan McDermid | Reuters This is a live blog. Check back for updates. 8:49 am: Dow briefly wipes out gains since Trump’s inauguration With the coronavirus spreading economic mayhem across the globe, the Dow’s steep drop on Wednesday briefly pushed the
A person wears a face mask as a precaution against coronavirus in New York, on March 2, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Walmart shares are emerging as a winner during the chaotic coronavirus crisis. The big box retailer, a classic defensive consumer staple stock, is benefiting from the millions of Americans
JGI/Jamie Grill You may have more time to pay your taxes, but you’re running out of time fund your IRA for 2019. The Treasury Department threw accountants and tax preparers for a loop this week when it announced it would give taxpayers until July 15 to pay taxes owed. Returns would still be due on
The new coronavirus can survive for several hours in air particles and last days on surfaces, according to a new federally funded study published in the New England Journal of Medicine. Researchers from the National Institutes of Health, Centers for Disease Control and Prevention, UCLA and Princeton University examined how long COVID-19 survives in the
US Federal Reserve Chair Jerome Powell speaks at a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images The Federal Reserve took another page out of its 2008 crisis-era playbook late Wednesday evening, invoking its emergency authority to create a backstop for prime money market mutual funds.
A man in a surgical mask walks by the New York Stock Exchange (NYSE) after more cases of coronavirus were confirmed in New York City, New York, U.S., March 10, 2020. Andrew Kelly | Reuters The easiest thing is to blame the computers and the algorithms that keep them going, propelling the market ever lower
AndreyPopov | Getty Images Some good news – in the form of money – may be coming to Americans soon. On Tuesday, Treasury Secretary Steve Mnuchin said that the Trump administration plans to move “immediately” to send money to Americans as the coronavirus cripples the economy. “Americans need cash now,” Mnuchin said, indicating checks could
National Securities’ Art Hogan predicts stocks will bottom before coronavirus cases peak in the United States. Hogan, who has worked on Wall Street for 35 years, believes the key is what happens in Europe. If cases peak in Italy, he expects markets here will stabilize because investors will get a better sense of what to
A man wearing a protective face mask walks past an indoor waterfall at Jewel Changi Airport in Singapore on February 27, 2020. Roslan Rahman | AFP | Getty Images This is a live blog. Please check back for updates. Global cases: At least 207,860, according to the latest figures from the World Health Organization Global
Pedestrians pass a JPMorgan Chase & Co. bank branch near the New York Stock Exchange in 2018. Bloomberg | Bloomberg | Getty Images JPMorgan Chase will temporarily close about 20% of its branches and reduce staffing in the ones remaining in response to the coronavirus pandemic. “We are planning to temporarily close about 20% of our
Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020. Kevin Dietsch | Bloomberg | Getty Images. The Treasury Department won’t extend the tax filing deadline for 2019 returns,
Rob Frohwein, CEO of Kabbage Adam Jeffery | CNBC Consumers who are concerned about the survival of their local businesses amid the coronavirus outbreak are finding new technology-enabled platforms that allow shoppers to buy for a better future. Online small business lender Kabbage launched on Wednesday a service called “Kabbage Payments,” which allows any business
U.S. package delivery company FedEx suspended its 2020 profit outlook on Tuesday, citing the “significant impact” of the coronavirus, and said it would cut costs due to the uncertainty wrought by the pandemic. Even so, the company reported quarterly revenue that beat market expectations as more businesses turned to its international express plane service to
US President Donald Trump holds the daily briefing on the novel coronavirus, COVID-19, at the White House on March 18, 2020, in Washington, DC. Brendan Smialowsk | AFP | Getty Images President Donald Trump on Wednesday defended his habit of calling coronavirus the “Chinese virus.” “It’s not racist at all,” Trump said at a White
Investor Bill Ackman urged President Donald Trump and corporate America in an impassioned plea on CNBC to shut down the country for 30 days to contain the fast-spreading coronavirus, calling it the only option to rescue the economy. “What’s scaring the American people and corporate America now is the gradual rollout,” Ackman told CNBC’s Scott Wapner on “Halftime