Warren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBC Warren Buffett made a lot of news at Berkshire Hathaway‘s first virtual annual meeting on Saturday, including revealing that he sold all his airline stocks and didn’t see any value in any major acquisitions amid the coronavirus pullback in stocks. The 89-year-old
Month: May 2020
The future seems uncertain. For many recent college graduates, the coronavirus pandemic has impacted their career plans and their financial outlook. New Yorker Ryan Williams, 22, was planning to start a career as a fashion photographer. She was working as a freelance photo assistant, the first step towards her dream, when everything came to a
States enduring the brunt of the coronavirus crisis are receiving a smaller proportion of emergency small-business loans than some Mountain and Midwest states, according to analysis conducted by the Federal Reserve. “In New York, the epicenter of the coronavirus in the United States, less than 20 percent of small businesses have been approved to receive
Some workers are making more on unemployment benefits than they did while working – but the labor … [+] market is about to get very tight. Getty Since the middle of March, over 30 million workers have filed unemployment claims. Unemployment benefits provide workers with a safety net that should make things much easier for
Home Office Deduction in 2020- what you need to know about this valuable tax deduction in the time … [+] of coronavirus. Getty Images One of the significant social side effects of the COVID-19 pandemic is a wave of people suddenly working from home. You may be wondering if you can now get a nice
Getty Roughly 7.5% of home loans were in forbearance as of April 26, according to the latest tracking survey conducted by the Mortgage Bankers Association. Translating to 3.8 million American homeowners with payment suspension plans, that percentage is expected to keep climbing up. “With millions more Americans filing for unemployment over the week, the level
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: More than 3.65 million Global deaths: More than 256,800 Most cases reported: United States (over 1.2 million), Spain (over 219,300), Italy (over 213,000), United Kingdom (over 196,200), France (over
DuPont products are shown for sale in a hardware store in National City, California, December 9, 2015. Mike Blake | Reuters Industrial materials maker DuPont on Tuesday slashed its capital expenditure by about $500 million and raised its annual cost-savings target to counter global trade uncertainties brought on by the coronavirus outbreak. The industrial giant
U.S. stock futures rose slightly in overnight trading and pointed to modest gains at the open on Wednesday, following two positive sessions in the equity markets. Fueling the rally is the growing number of states beginning to reopen their economies in the first two weeks of May, making investors optimistic the worst of the pandemic’s
The coronavirus pandemic has upended countless jobs and even entire industries, leaving many wondering which will emerge out of the other side. One industry likely to endure — or even thrive — under the virus, is artificial intelligence (AI), which could offer a glimpse into one of the rising careers of the future. “This outbreak is creating
Naguib Sawiris, billionaire and chairman of Orascom Investment Holding. Sima Diab | Bloomberg | Getty Images Egyptian billionaire Naguib Sawiris says he would buy airlines, going against fellow billionaire investor Warren Buffett, who announced that Berkshire Hathaway sold all its airline stocks at the firm’s annual meeting on Saturday. Sawiris, chairman and CEO of Orascom Investment
A restaurant employee wearing a protective mask poses behind the counter amid the coronavirus pandemic on April 28, 2020 in New York City. Alexi Rosenfeld When it comes to the economic fallout from the coronavirus pandemic, many young professionals are asking, “Will I still have a job?” And no wonder, as 63% of young Americans
Ranking member Sen. Ron Wyden, D-Ore., left, speaks with chairman Sen. Chuck Grassley, R-Iowa, during the Senate Finance Committee hearing on “The United States-Mexico-Canada Agreement” on Tuesday, July 30, 2019. Bill Clark | CQ Roll Call | Getty Images Companies that cover the cost of health insurance for their furloughed workers may miss out on
For those seeking to spend more in retirement than the bond yield curve can support, the alternative to seeking risk premium through an aggressive asset allocation is to pool risk through insurance. Income annuities are the simplest type of insurance products which trade a lump-sum payment for protected lifetime income. The ability to convert a
Getty The IRS ruled that a Paycheck Protection Program (PPP) borrower who spends PPP funds on normal business expenses cannot deduct those expenditures for federal tax purposes. But its position, which left many in congress wondering if the IRS missed the 335-page memo, may not be the last word. Today, a bipartisan group of congressional leaders formally alerted the Treasury
At least 30 million workers have filed for unemployment in the U.S. in just six weeks. Photo by JOHANNES EISELE/AFP via Getty Images Topline: As the coronavirus pandemic keeps Americans confined to their homes, nearly every industry has been negatively impacted by the disease, and businesses losing out on cash flow have started laying off
Beyond Meat posted better-than-expected earnings for the first quarter Tuesday, but warned that it saw a drop in sales at the end of March as the coronavirus pandemic shuttered restaurants around the country. Given the uncertainty regarding restaurant sales, the company withdrew its earnings forecast for the year. “I am proud of our first-quarter financial results,
The Walt Disney character Mickey Mouse greets children at Magic Kingdom in Orlando, Florida. Getty Images Last year, Disney’s Parks, Experiences and Consumer Products segment was its fastest-growing profit driver. Now, it could be the company’s biggest drag on earnings, thanks to the Covid-19 outbreak. The coronavirus pandemic has caused many headaches for Disney. The
The U.S. economy can return to positive growth in the third quarter after a massive drop in employment and GDP, Federal Reserve Vice Chairman Richard Clarida told CNBC on Tuesday. “Our policies we think will be very important in making sure that the rebound will be as robust as possible. We’re in a period of
MSNBC: Answering your questions about coronavirus 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 to
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