CNBC’s Jim Cramer said Wednesday that governments forcing some retailers to close and others to stay open was “somewhat rigged” and has permanently damaged smaller businesses. “If you were Walmart, the thing you would most want to do is have the government shut down your competition, and that happened,” Cramer said on “Squawk Box.” Cramer’s
Month: May 2020
Less than two months since Congress passed the CARES Act in response to the coronavirus pandemic, another massive economic relief bill made its way through the House. However, it still has an uncertain future in the Senate. The HEROES (Health and Economic Recovery Omnibus Emergency Solutions) Act is a $3 trillion bill that is designed
Getty With headlines fading from the House of Representatives passage of the HEROES Act last week, attention is shifting to the Senate where Republicans and Democrats alike have floated myriad proposals to include in a potential next round of coronavirus relief. Earlier today, a bi-partisan group of senators unveiled a plan to create a $4,000
San Francisco’s real estate market is expected to recover quicker than Los Angeles’ Getty Real estate industry experts discuss California’s real estate market. I checked in once again with Compass California President Mark McLaughlin and CoreLogic’s Deputy Chief Economist Selma Hepp. The conversation focuses on the Bay Area and Southern California markets. In 2018, McLaughlin
Sectors of the U.S. economy are starting to show signs of a rebound, with more retailers reporting strong quarterly sales and weekly mortgage applications pointing to a remarkable recovery in the housing market. Later Wednesday, Wall Street will get a more detailed look at the Federal Reserve’s most recent decision, with the release of the central
A pedestrian walks past a Target store in Chicago, Illinois. Scott Olson | Getty Images Target will report its first-quarter earnings Wednesday before the bell. The big-box retailer’s stores have remained open across the country during the coronavirus pandemic, but the crisis has cut into its profits as Target’s labor expenses jumped and sales of
Charging Bull Statue is seen at the Financial District in New York City, United States on March 29, 2020. Tayfun Coskun | Anadolu Agency | Getty Images This is a live blog. Please check back for updates. 8:49 am: Strong China rhetoric from Trump President Donald Trump took a tough stance on China over the
Coronavirus has dramatically changed college for millions of students, as schools have been forced to close their physical campuses and move classes online. Now, many are anticipating that enrollment will be down at traditional non-profit four-year colleges next semester. “I know there’ve been some students that have already withdrawn from next year because they’re worried
The U.K. borrowed at a negative interest rate for the first time on Wednesday, amid growing fears of a deep global recession and expectations of further bond buying action from central banks. In an auction Wednesday, the country’s Debt Management Office said it sold £3.8 billion ($4.66 billion) worth of three-year gilts at a yield
Most students can’t wait to get back into the classroom, even as more schools extend remote learning indefinitely. The University of Alabama system said it intends to return to on-campus instruction, while the California State University System announced that all students, enrolled on 23 campuses, will take fall classes online. Other schools have proposed a
Tracy Singleton, owner of Birchwood Café in Minneapolis, Minnesota, remains cautious about reopening. “I don’t feel safe having people walk into my environment yet,” she says. Tracy Singleton Like many small business owners, Edgar Comellas, owner of Aces Wild Entertainment in Florida, has seen business grind to a halt since March. His company, which arranges
Women Have Less Security In Retirement Due to Lower Earnings and Higher Risks During Their Careers. Getty Women face a vastly more insecure retirement than men, a new report co-authored by Joelle Saad-Lessler, Tyler Bond and myself shows. They have fewer opportunities to save for retirement during their careers. They earn lower wages in part
U.S. House Speaker Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) Getty Images Republicans are the ones usually derided for passing tax cuts that cater to the rich. But with the passage of the HEROES Act by the House of Representatives, it’s time to point a finger at Democrats. Republicans Provided Windfall To
Tenants can’t pay their rent because of the pandemic. They ask for abatements, deferrals or other accommodations. Property owners sometimes go along, signing formal abatement or deferral agreements with tenants. Owners may feel they have no choice. They look ahead into a dark future and would rather have tenants in occupancy than vacant space. Or
Travelers the world over are asking: Where can I travel that’s safe? Sha Wellness Clinic, a medical clinic and hotel in southeastern Spain, has an answer. It’s requiring guests to provide a negative Covid-19 test result before they ever step foot in the door. “When we began to put together our preventative measures, there was
Patrick T. Fallon | Bloomberg | Getty Images Home Depot is set to report its first-quarter earnings before the bell on Tuesday. While coronavirus restrictions have slowed or suspended construction in much of the country, Home Depot’s earnings will offer insight into the demand for do-it-yourself projects, kitchen appliances and gardening supplies as many Americans
U.S. stock futures ticked lower in overnight trading and pointed to modest losses at the open Wednesday, following a weak session that snapped a three-day winning streak for markets. Fueling the volatility is uncertainty around a possible coronavirus treatment and vaccine and how economies will fare in reopening, from a health perspective. Dow futures fell
Entrepreneurs and small business owners across the country have undoubtedly been hit hard by today’s pandemic with many non-essential businesses remaining closed until further notice. Though the federal government has stepped in to offer more than $600 billion in financial assistance through the Paycheck Protection Program (PPP) under the Coronavirus Aid Relief and Economic Security
Logo and mascot ‘Ali cattle’ at the headquarters of Alibaba Group in Hangzhou. Zhang Peng | LightRocket | Getty Images Major changes on Hong Kong’s benchmark Hang Seng index could pave the way for China’s tech giants to expand their trading presence in Asia, while giving more investors access to their stocks. In a major revamp announced
Thomas Barwick Lawmakers may allow savers to undo last year’s mandatory withdrawals from retirement accounts. The $3 trillion HEROES Act – the latest round of proposed federal coronavirus relief legislation – was passed by the House last Friday. Aside from granting households another batch of $1,200 stimulus payments and granting student loan relief, the measure
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