Chinese customers wear protective masks as they line up single file to buy dumplings at a popular local shop on February 16, 2020 in Beijing, China. Kevin Frayer | Getty Images Asia Pacific banks will find it increasingly challenging to maintain their financial performance as economies around the world get hit by the coronavirus pandemic,
Ford Motor and GE Healthcare plan to produce 50,000 ventilators within the next 100 days at a facility in Michigan to assist with the coronavirus pandemic. Production of the critical care devices is expected to begin with 500 United Auto Workers union members the week of April 20, according to executives at both companies. Ford’s Rawsonville
SEC Chairman Jay Clayton said Monday that the practice of short selling — effectively betting that a stock will drop — is needed to “facilitate ordinary market trading.” “We shouldn’t be banning short selling,” Clayton told CNBC’s “Squawk Box.” However, he said the Securities and Exchange Commission did replace the old uptick rule with a
I drafted a notice to my firm’s clients so they can have a clear understanding of the provisions in the CARES Act, the $2 trillion economic rescue bill that President Trump signed into law last week. I wanted to share some of this information. I am only including information about how the act actually impacts
Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, U.S. March 25, 2020. Elijah Nouvelage | Reuters Employees of airlines struggling with a record plunge in demand won a reprieve in the $2 trillion coronavirus bill:
Interior Design area of the Restoration Hardware store in the Meatpacking District of New York. Source: RH Check out the companies making headlines after the bell. RH — The home furnishings retailer’s stock fell 11% in extended trading after the company missed analysts’ estimates on revenue during the fourth quarter. RH reported revenue of $665
The Virgin Orbit ventilator device. Virgin Orbit Richard Branson’s California-based rocket company Virgin Orbit partnered with medical researchers and developed a ventilator device that the company plans to mass produce and send to hospitals around the United States to fight the coronavirus. “[It is] a very, very simple and robust design that we can get out
Jeanie Wright was planning for a year of major growth in 2020 with her confection business, Alaskan Sweet Thing’s. The company makes gourmet taffy, popcorn, fudge and more from glacier water, selling online and at its retail location. A big part of her business comes from tourists traveling to Alaska, as the state has become
US President Donald Trump participates in a meeting with Supply Chain Distributors to discuss the response to COVID-19 at the White House in Washington, DC, on March 29, 2020. Jim Watson | AFP | Getty Images This year, heirs of retirement accounts can bypass mandatory withdrawals from those IRAs. The coronavirus relief bill, which President
Tedros Adhanom Ghebreyesus, director general of the World Health Organization (WHO), speaks during a news conference on the COVID-19 coronavirus outbreak in Geneva, Switzerland, on Monday, March 2, 2020. Stefan Wermuth | Bloomberg via Getty Images World Health Organization officials said early research shows that some drugs “may have an impact” on fighting the coronavirus,
Foreign “guest workers” drill at the Saudi Aramco oil field complex facilities on March 2003 in Shaybah, Saudi Arabia. Reza | Getty Images U.S. oil dropped more than 7% to trade around an 18-year low on Monday as demand continues to evaporate, and as Saudi Arabia and other OPEC+ nations prepare to ramp up production.
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer argued Monday that stock market short-sellers are unwisely doubting the ability of scientists to slow the spread of the new coronavirus. “This is a day where you say, if I’m short I’m betting against science, not betting against the lackadaisical attitude of many people in the country, ”
President Donald Trump signs the $2.2 trillion coronavirus aid package bill as White House Economic Council Chairman Larry Kudlow, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell (R-KY), House Minority Leader Kevin McCarthy (R-CA), Vice President Mike Pence and Rep. Kevin Brady (R-TX) watch in the Oval Office of the White House in Washington,
For decades, financial advisors have counseled clients that they should be able to safely withdraw 4% of their assets each year as a means of providing income, while maintaining an account balance large enough to keep income flowing through retirement. While some of the underlying thinking behind the so-called 4% rule was prudent, it was
Getty Images The coronavirus has put the brakes on the economy. However, many individuals still face due dates for payments on lingering credit card balances. A new survey from CreditCards.com finds that 59% of credit card holders – or 110 million adults – entered the coronavirus pandemic and subsequent slowdown with credit card debt. Many
Pedestrians walk passed signage at Cigna headquarters in Bloomfield, Connecticut. Michael Nagle | Bloomberg | Getty Images Health insurers Cigna and Humana are now waiving patient cost-sharing on all treatment for coronavirus, including hospitalizations and ambulance transfers, for their insured members and employer plans. “Our customers with COVID-19 should focus on fighting this virus and
Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters The Mortgage Bankers Association in a dire letter to regulators Sunday warned that the U.S. housing market is “in danger of large-scale disruption,” due to efforts by the Federal Reserve
US Speaker of the House Nancy Pelosi signs the bill after the House passed a $2 trillion stimulus bill, on March 27, 2020, at the US Capitol in Washington, DC. Alex Edelman | AFP | Getty Images For people who turned 70½ last year and were required to take a withdrawal from their individual retirement
U.S. airlines and the Department of Transportation may soon have to consider consolidating service to dozens of cities around the country in a bid to help carriers cut losses, several airline industry executives told CNBC. Executives with U.S. airlines are expected to meet with leaders of the Transportation Department this week to discuss the state
There’s been a meme going around the internet pointing out, “Your grandparents were called to war. You’re being called to sit on your couch. You can do this.” It seems extremely important to remember that there are things that are truly unprecedented and new and those that are, however tragically, new to us. Yes, of
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