The Robinhood investment app is see on a smartphone in this photo illustration on June 24, 2020 in Washington,DC. Jim Watson | AFP | Getty Images Robinhood has postponed the launch of its popular stock-trading app in the U.K. indefinitely. The Menlo Park, California-based fintech firm told people signed up to its U.K. waitlist Tuesday that
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An artist name Theodore Tsinias who wrapped himself next to the Charging Bull to show his attention about world’s behavior amid Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020. Tayfun Coskin | Anadolu Agency | Getty Images Stock futures were flat in overnight trading on Monday after a strong
Many states’ pandemic-era moratoriums on renter evictions have expired. In some 30 states, eviction proceedings now can continue. Pictured, rent-forgiveness graffiti in Los Angeles. VALERIE MACON Most of the relief measures included in the historic stimulus package Congress passed in March are coming to an end, even as the financial suffering of millions of Americans,
Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 5, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images Stock futures rose slightly Sunday night as investors tried to build on last week’s solid performance. Dow Jones Industrial Average futures traded 45 points
The economic aftermath of the coronavirus pandemic is likely to worsen when authorities start rolling back relief measures — and banks could experience “far more damage” to their balance sheets, said Piyush Gupta, group chief executive of Singaporean bank DBS. Speaking to CNBC’s “Managing Asia” anchor Christine Tan, Gupta said government stimulus in many countries is
Take a look at some of the biggest movers in the premarket: Netflix (NFLX) – The video streaming service saw its bottom line fall 22 cents a share below Wall Street forecasts with quarterly profit of $1.59 per share. Revenue and subscriber additions were above estimates. Projected subscriber additions for the current quarter of 2.5
Attempting to forecast the path of the American economy right now is like peering into a dark well — nobody knows how deep the hole goes. Even Jamie Dimon, CEO of JPMorgan Chase and veteran prognosticator of all things financial, is flummoxed. As head of the financial system’s bellwether, a bank with $3.2 trillion in
A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019. Jaap Arriens | NurPhoto | Getty Images Check out the companies making headlines in midday trading. Netflix — Shares of the streaming video giant fell 6.5% after company missed earnings estimates gave guidance
A man walks past the Wall Street Charging Bull in New York, the United States, March 24, 2020. Wang Ying | Xinhua News Agency | Getty Images Several banks reported surprisingly strong second-quarter results during the opening week of earnings season, but the smaller national and regional banks had to rely on different business lines
In the aftermath of the coronavirus pandemic, stakeholder capitalism — or the idea that companies have a greater purpose besides just providing returns for shareholders — is set to become even more important, BlackRock CEO Larry Fink said Friday. “The one thing that is very clear in this Covid world … [is that] stakeholder capitalism
The skyline of the Lujiazui financial district in Shanghai, China. Hector Retamal | AFP | Getty Images Chinese banks have so far emerged relatively unscathed as the coronavirus pandemic hit economies around the world — but that could change in the coming months. Rising bad loans are set to squeeze margins and reduce profits, said analysts. China’s
Netflix Co-founder, Chairman & CEO Reed Hastings attends a Q&A during a Transatlantic Forum in Lille, France. Sylvain Lefevre | Getty Images U.S. stock futures were flat Thursday night after Netflix‘s quarterly report sent the stock tumbling and raised concern about one of the best-performing spaces in the market during the pandemic. Dow Jones Industrial
A pedestrian passes in front of a Charles Schwab Corp. bank branch in downtown Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images Charles Schwab’s trading activity and new accounts continued to surge in the second quarter amid a boom in retail investing during an unprecedented time for financial markets. The broker managed 1.62 million
Users of Monzo’s premium account, Monzo Plus, will get sent blue cards with holographic foil to make Monzo British financial technology start-up Monzo is giving paid-for checking accounts another go, with a revamped premium service it hopes will help generate a new source of revenue. Monzo, which provides banking services through an app, initially tried
A person walks at the Wall Street subway stop in New York City. Angela Weiss | AFP | Getty Images Stock futures were little changed in overnight trading on Wednesday as earnings season gets underway, giving investors a clearer picture of the overall health of corporate America. Futures on the Dow Jones Industrial Average fell
U.S. Treasury Secretary Steven Mnuchin walks to the West Wing of the White House on July 9, 2020. Photo by Win McNamee/Getty Images ‘Dramatically different situation’ The employment picture improved over the past two months, as states began reopening their economies. Businesses added 7.5 million jobs to their payrolls over May and June, following a
People wearing face masks move packs of vegetables at a wholesale market for agricultural products, as the country is hit by an outbreak of the novel coronavirus, in Beijing, China February 19, 2020. Tingshu Wang | Reuters Elevated food prices are just one of many new challenges China needs to face in the wake of
Stock futures climbed higher in overnight trading on Tuesday after Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hope for a faster economic recovery. Futures on the Dow Jones Industrial Average jumped 300 points, pointing to a 270-point gain at Wednesday’s open. The S&P 500 futures and the
Charles Scharf Michael Nagle | Bloomberg | Getty Images Wells Fargo on Tuesday posted its first quarterly loss since the financial crisis as the bank set aside $8.4 billion in loan loss reserves tied to the coronavirus pandemic. The bank had a net loss of $2.4 billion in the second quarter, or a loss of $0.66
U.S. Navy multirole fighter landing on the flight deck of USS Ronald Reagan (CVN-76) aircraft carrier as it sails in South China Sea Oct. 16, 2019. Catherine Lai | AFP | Getty Images China said Tuesday that the latest U.S. rejection of Beijing’s claims in the South China Sea unnecessarily provokes tension in the region.