New Jersey restaurant owner Chris Clayton told CNBC on Friday that giving businesses the green light to reopen during the coronavirus pandemic does not guarantee their survival. “Open is a four-letter word,” Clayton said on “Squawk Alley.” ”Just being open doesn’t mean that you’re not going to go under. You need to be open enough, especially for
Month: May 2020
PPP loan borrowers tackle the new paycheck protection program forgiveness application Getty Businesses that obtained Paycheck Protection Program (PPP) loans now – as of May 15 – have a recipe to follow to have the loans forgiven. They have 56 days after the receipt of the proceeds to spend the money. If all the requirements are
Getty Why does the SBA require that a Paycheck Protection Program (“PPP”) borrower use 75% of the PPP proceeds on “payroll costs”? It’s a curious question. It’s particularly curious given that the CARES Act itself does not require this. In fact, the CARES Act actually says that a borrower can spend the loan proceeds on other costs—and even mandates forgiveness for
Today’s low mortgage rates are helping home buyers, but they might also lead to future inventory … [+] shortages and affordability challenges. Getty In a coronavirus-created environment of severe inventory shortages and rising prices, home shoppers do have one advantage in the form of extremely low interest rates. Yet, while propitious today, the latter bear
A pack of Hydroxychloroquine Sulfate medication is held up on March 26. John Phillips | Getty Images Hospitalized Covid-19 patients treated with hydroxychloroquine, the malaria drug President Donald Trump says he’s taking to prevent the coronavirus, had a higher risk of death than those who didn’t take it, according to a study published Friday in The
Jen-Hsun Huang, president and chief executive officer of Nvidia Corp., speaks during the company’s event at Mobile World Congress Americas in Los Angeles, California, U.S., on Monday, Oct. 21, 2019. Patrick T. Fallon | Bloomberg | Getty Images Nvidia reported first-quarter earnings after the bell on Wednesday. The stock fell over 1% in after-hours trading
New York, USA – May 8, 2018: Wall Street sign near New York Stock Exchange with flags of the United States. ymgerman | iStock Editorial | Getty Images This is a live blog. Here’s what’s happening: 9:30 am: Stocks open little changed on final day of strong week Stocks opened slightly lower on Friday after
Following weeks of partial shutdown to curb the spread of coronavirus, government officials and business leaders across the country are rolling out plans to bring their labor force back to the workplace. As of Wednesday, every state has partially reopened in some capacity. And for the 18 million workers who lost their jobs temporarily in April, including those
Pedestrians walk past a J.P. Morgan Chase bank branch. Alex Tsai | SOPA Images | Getty Images WASHINGTON — The beaten-down banking sector will remain under pressure through 2025 even as the economy recovers, the International Monetary Fund said Friday. In its latest “Global Financial Stability Report,” the IMF found banks across nine advanced economies will struggle
A sign advising customers to practice social distancing is displayed on the door of a General Motors Co. Buick and GMC car dealership in Woodbridge, New Jersey, on May 20. Angus Mordant | Bloomberg | Getty Images Coronavirus pandemic aside, it’s not a bad time to be in the market for a new car. With
PuroClean restoration specialists do deep Covid-19 cleaning for the Barlett Fire department in Tennessee. Steve White, the company’s president and COO, instituted protocols from day one to ensure business operations continue in case of any unforeseen disaster, something he learned as a former U.S. Army infantry officer. PuroClean If you want to see how an
Classic advice: take benefits at age 70. The new advice, amid the pandemic, is a bit surprising. Within a week, the Covid death toll in the U.S. will top 100,000. Maybe it wasn’t such a great idea to delay Social Security? The recommendation to claim as late as possible has long been a staple of
TOPLINE China pledged on Friday to uphold its commitments under the phase one trade deal with the U.S., including purchasing of American goods like soybeans and pork, as tensions between the world’s two largest economies flare up once again. Beijing promised to implement the phase one deal despite renewed tensions with Washington. Xu Congjun/VCG via
Photo: Getty There is a metric in apartment investing known as cash-on-cash return. It represents the power of multiplying money. Consistent investment in strong performing assets over long periods of time yields the greatest return, so knowing how to calculate that return is essential. For many, it’s not the acquiring of money that’s the issue.
ABBA superstar Björn Ulvaeus told CNBC that the Swedish capital of Stockholm seems to be back to normal, despite the country reportedly seeing the highest number of coronavirus deaths per capita in the world this week. The Swedish songwriter and musician who was part of the much-loved global pop band — which once reportedly came
Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin. Fabrizio Bensch | Retuers Expedia reported its first quarter earnings after the bell on Wednesday, continuing to show the financial devastation the coronavirus is having on the travel industry. Executives said during the company’s earnings call that Expedia was seeing
Will Smith and Kevin Hart pose backstage at the 2016 MTV Movie Awards at Warner Bros. Studios on April 9, 2016 in Burbank, California. Jason Kempin | MTV1415 | Getty Images for MTV Xiaoyin Qu never predicted how relevant her app would become in a pandemic. The former Facebook employee originally set up Run The
With more than 38 million Americans currently out of work due to the coronavirus shutdowns, millions are having difficulty paying their bills on time. The first thing many financial experts have advised is to talk to your landlord, creditors or bank about your financial situation to see if they can offer any leniency or a
Flags of the US and China are placed ahead of a meeting between US Secretary of Agriculture Sonny Perdue and China’s Agriculture Minister Han Changfu at the Ministry of Agriculture in Beijing on June 30, 2017. Jason Lee | AFP | Getty Images A bill that could force Chinese companies to give up their listings
hept27 | iStock | Getty Images In normal times, not paying your student loans can crush your credit score. During the pandemic, however, federal student loan borrowers were supposed to get a break from their bills, and their lenders were supposed to report their payments as on-time anyway. That’s not how it’s playing out. A class
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