The coronavirus pandemic caused an unprecedented jump in job losses, but the worst may be over, at least for now. After spiking more than 1,000% in March, layoffs among small business leveled off last month, according to exclusive data compiled by human resource provider Gusto and based on more than 100,000 small businesses nationwide. “We are no
Month: May 2020
Senior women pours money out of purse Getty ‘Round about two weeks ago, I wrote that, despite projections to the contrary, the Social Security Trust Fund was at significant risk of far earlier depletion than it’s “official” 2035 projection. In the first place, the economic difficulties we’re now experiencing and might well be experiencing for
Remember when working from home used to be a perk? Little did we know when we were building the cloud-based interfaces and bring-your-own device security protocols that made it possible to offer work-from-anywhere programs as employee incentives that we were actually building the infrastructure that would keep the economy alive during the COVID-19 pandemic. (Photo
Vincent Lo, chairman of Shui On Land, is adding to his real estate projects in Shanghai.… [+] Photographer: Kevin Lee/Bloomberg BLOOMBERG NEWS Shui On Land, the developer of Shanghai’s swank Xintiandi area, is increasing its investments in the city as the impact of the Covid-19 pandemic winds down — at least for now, and hope
A pedestrian wearing a protective face mask walks past the Centers for Disease Control and Prevention (CDC) headquarters in Atlanta, Georgia, on Saturday, March 14, 2020. Elijah Nouvelage | Bloomberg via Getty Images The Centers for Disease Control and Prevention tracked a cluster of coronavirus cases in rural Arkansas back to a church pastor and
Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s net sales tanked 43.5% during the first quarter, the company said Tuesday, as its stores were forced temporarily shut due to the Covid-19 crisis. “While we have a fast-growing digital business, it has
A view of the fearless girl wearing a mask in front of the New York Stock Exchange in New York City USA during coronavirus pandemic on April 25, 2020. John Nacion | NurPhoto | Getty Images Stock futures held steady in overnight trading on Monday after the market scored its best day in six weeks
How to sell your home during Covid-19 Monthly retirement for a $50,000 salary factoring in Social Security and savings Here’s how to get into the habit of saving more and spending less How to pay less in taxes on your Social Security benefits How to earn $40,000 in interest every year in retirement Here’s how
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York. Michael Nagle | Bloomberg | Getty Images Dennis Lynch steers a mutual fund whose bets on Amazon and Zoom Video have helped it beat the market by more than 30% so far this year, but he isn’t isn’t
Petar Chernaev Millions of people want a better idea of how to handle their money. Personal finance experts have lots of tips and info on managing your money, from sticking to a budget to avoiding credit cards. But is the advice out there always the right advice for you? Maybe not. Maybe a budget isn’t
Magic Johnson Getty Images With the future of small businesses in urban communities at risk, former National Basketball Association great Magic Johnson has stepped in to offer assistance. The CEO of Magic Johnson Enterprises collaborated with MBE Capital Partners to offer $100 million in loans to minority- and women-owned companies hurt by stay-at-home orders due
TOPLINE The market finished lower on Tuesday, following its biggest rally in six weeks on Monday, as stocks came under pressure following a STAT News report that raised questions about the trial results for Moderna’s potential coronavirus vaccine. Retail and bank stocks were hardest-hit on Tuesday. Spencer Platt/Getty Images KEY FACTS The Dow Jones industrial
How will California and other high tax states treat you if you working from home and just trying to stay safe in this strange new era? It is a surprisingly open question, raising state tax and even city tax issues in California and beyond. As the New York Times NYT recently warned, sheltering in place
According to a new study, most homeowners seeking mortgage forbearance don’t actually need the help. Getty More than 4 million homeowners have now been granted forbearance on their mortgage loans. But in 70% of those cases? The homeowners didn’t actually need the break. According to a new study from LendingTree TREE , almost 70% of
A week of retail earnings kicked off before the market open on Tuesday, with Walmart and Home Depot each reporting strong same-store sales growth as consumers stocked up and stayed home during the quarter. The World Health Organization’s assembly continues for a second day, as critical eyes continue to fall on the agency and the
People wearing masks and gloves wait to enter a Walmart on April 17, 2020 in Uniondale, New York. Al Bello | Getty Images Walmart is set to report its first-quarter earnings before the bell on Tuesday. The big-box retailer has kept stores open as an essential retailer during the coronavirus pandemic. To meet demand, it hired 200,000
Wall Street stands empty as people stay away from the area due to the coronavirus on March 30, 2020 in New York City. Spencer Platt | Getty Images This is a live blog. Please check back for updates. 8:21 am: Moderna falls after new stock offering Shares of Moderna were down 6% in premarket trading
For entrepreneurs on ABC’s “Shark Tank,” a million-dollar investment is difficult to get. But on Friday’s episode, co-founders Joe Demin and Rachel Connors left the Tank with a $1 million deal, even though they only asked for $400,000 in return for a 7% stake in their company. “It’s never happened before in ‘Shark Tank’ history
JPMorgan Chase CEO Jamie Dimon said Tuesday in a memo that the coronavirus crisis should be used to build an economy that offers opportunities for “dramatically more people.” The memo, issued ahead of his bank’s annual shareholder meeting, served as an update to the New York-based bank’s response to the pandemic. Dimon also detailed the steps his
Signs hang from the Meridian Heights apartment building in Northwes Washington on Monday, May 18, 2020. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) Caroline Brehman The unemployment drama playing out in the U.S. has drawn comparisons to the Great Depression, the worst economic downturn in the history of the industrialized world. But is
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