Treasury Secretary Steven Mnuchin prepares to deliver remarks on the coronavirus relief package after the Senate Republican Policy luncheon in Russell Building on Tuesday, March 17, 2020. Tom Williams | CQ-Roll Call | Getty Images The IRS is extending the federal income tax filing deadline to July 15 as part of a growing effort to
Month: March 2020
The Uptown Garrison in Manhattan’s Washington Heights neighborhood is still offering takeout and delivery as much of the city shuts down due to coronavirus. Spencer Kimball | CNBC Restaurant and bars in the nation’s largest city, world-renowned for its food and nightlife, are shutting down indefinitely and laying people off en masse as the state
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 Singapore on Saturday reported its first two confirmed deaths related to the COVID-19 outbreak. The city-state’s health ministry said the two patients who died were a 75-year-old woman,
Shoppers sit outside of a J.C. Penney store at the Westfield Mall in Culver City, California. Martina Albertazzi | Bloomberg | Getty Images J.C. Penney has withdrawn its earnings outlook due to the uncertainty surrounding COVID-19. The department store chain announced Friday morning that it is not providing an updated outlook at this time. Earlier in
Pedestrians cross Powell Street, usually full with cars and cable cars, in San Francisco, California, U.S., on Tuesday, March 17, 2020. David Paul Morris | Bloomberg | Getty Images For the first time in over a century, a global coronavirus pandemic has turned the country’s focus to the dangerously fragile health of the American people
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.
Getty Images Companies holding low-rated debt are in for a brutal stretch as the economy heads into a coronavirus-induced recession, according to a forecast Friday. S&P Global Ratings said the default rate for high-yield, or junk, bonds is heading to 10% over the next 12 months, more than triple the rate of 3.1% that closed
cmannphoto | Getty Images Many Americans may soon get checks in their hands from the government. But Uncle Sam could also claw back some of that money. Information about how much those checks will be – and whether or not individuals will pay tax on them – will likely be hammered out in a deal
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
Healthcare workers look at paperwork outside of medical tents where Covid-19 tests are being conducted at Newton Wellesley Hospital in Newton, Massachusetts, U.S., on Wednesday, March 18, 2020. Scott Eisen | Bloomberg | Getty Images U.S. hospitals are setting up coronavirus wards and tents, seeking emergency credit lines and lobbying Washington for a $100 billion stabilization
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
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon got a 20% raise to $27.5 million for his work leading the bank in 2019. His pay package includes a $2 million annual salary, $7.65 million in a cash
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
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
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
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
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
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
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
Jim Cramer on CNBC’s Halftime Report. Scott Mlyn | CNBC CNBC’s Jim Cramer said Friday the coronavirus-slammed stock market is due for bounce because there has been so much selling in recent weeks. “I think there’s a technical rebound coming,” Cramer said on “Squawk Box.” “I don’t know how long it will last because I
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