A Sun Tran employee offers free masks to passengers to prevent the spread of the coronavirus disease (COVID-19), at the downtown bus station in Tucson, Arizona, U.S., June 20, 2020. Cheney Orr | Reuters Governors in Arizona and New Jersey have joined the growing list of state officials beginning to roll back or pause their
Month: June 2020
Adam Jeffery | CNBC Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard, which warned that investors were over-estimating a quick recovery in U.S. corporate earnings. Charles Dumas, chief economist at the economic research firm, told CNBC Tuesday that ”the
A shopper walks with bags of purchases. Pedestrian and vehicular traffic have noticeably increased as businesses mark the next phase of reopening the economy today in New York City. John Lamparski | SOPA Images | Getty Images Consumer confidence rose more than expected in June as the U.S. loosened stay-at-home and quarantine restrictions, raising hope
The wealthy are preparing for tax increases, working with their accountants to give away money or shift their income to avoid some of the impact of higher rates. With rising deficits at both the state and federal level, as government spending soars and revenue drops from the Covid-19 crisis, taxes are likely to go up
The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018. Ivan Alvarado | Reuters Amazon Web Services, the cloud-computing branch of the e-commerce giant, is further expanding its services in the growing space industry. The company announced
Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II/Getty Images The financial aid that jobless workers have been receiving to shore up household income during the coronavirus pandemic is poised for a dramatic reduction
Billionaire global investor Barry Sternlicht told CNBC on Tuesday that the U.S. could end up in a downward spiral of economic pain if the businesses cannot get back to operating due to the coronavirus. “If we don’t get people back to work and the enterprises back to getting revenues and profits, there is going to be extreme
There are many Medicare enrollment periods. Getty One of the most important and also most intimidating questions is, “When can I enroll in Medicare Part A and Part B?” This is important because missing your chance to enroll or enrolling at the wrong time can have both immediate and lasting repercussions. It is intimidating because
The recession is hitting state and city budgets hard in the new fiscal year that starts on July 1. They are responding by firing workers, reducing services, and even increasing taxes. Massive federal aid is the only real solution. City workers and their allies rallied in front of City Hall to protest cut to the
There is something amiss in the trough that feeds builders and builds-up house prices, and it’s … [+] rather troubling that the monetary value of a home is worth more than the value of having a home. Getty If there are two symbiotic truths in British real estate, they are such that the economics of
A worker welding truck parts at a factory in Weihai, China, October 18, 2018. STR | AFP | Getty Images China on Tuesday said manufacturing activity expanded in June with the official Purchasing Manager’s Index coming in at 50.9. Economists polled by Reuters had expected the official manufacturing PMI number to come in at 50.4. PMI readings
Britain’s Chancellor of the Exchequer Rishi Sunak takes part in a national “clap for carers” to show thanks for the work of Britain’s National Health Service (NHS) workers and frontline medical staff around the country as they battle with the coronavirus pandemic, on the steps of the Foreign and Commonwealth Office (FCO) on April 16,
People walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Spencer Platt | Getty Images Wells Fargo warned on Monday that it will likely cut its dividend after the Federal Reserve announced it would cap dividends for banks based on earnings. Wall Street analysts pointed to Wells Fargo as
Klaus Vedfelt If you took a mandatory distribution from an inherited retirement account this year, the IRS will let you put the money back. The CARES Act, which became law on March 27, allowed individuals to skip required minimum distributions for 2020. This is the annual withdrawal you must take from your individual retirement account and
Getty Yes, the GROW Act — the best new retirement innovation you’ve never heard of (regular readers of this site excluded). For quite some time, I’ve been insisting that Congress must come to a compromise with respect to a rescue and reform of multi-employer union pensions, with a combination of federal fund infusion plus changes
Getty Winston Churchill once said in a speech, “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” While Churchill was referring the Allied defeat of Rommel in November of 1942, he could just as easily have been talking about the Covid-19 crisis. While lockdown restrictions have been
Pending home sales staged a historic rebound in May. Los Angeles Times via Getty Images Pending home sales across the nation made a major comeback in May, seeing encouraging record-breaking contract activity after two previous months of declines brought on by the increasing impact of the coronavirus pandemic. The National Association of Realtors reported that
Positive housing data and a price rebound “in some important stocks” fueled buying in the stock market Monday, CNBC’s Jim Cramer said. The Dow Jones surged 580 points to 25,595.80 for a gain of 2.32%, the S&P 500 rose 1.47% to 3,053.24 and the tech-heavy Nasdaq climbed 1.20% to a 9,874.15 close. “We had a
U.S. stock futures were flat in overnight trading ahead of the last trading day of a volatile month for stocks on Tuesday. Dow futures fell 16 points. The S&P 500 and Nasdaq-100 were set to open higher, with gains of 0.14% and 0.34%, respectively. Shares of Wells Fargo ticked nearly 2% lower in after hours
(L-R) Michael Corbat, chief executive officer of Citigroup Inc., Jamie Dimon, chief executive officer of JPMorgan Chase & Co., James Gorman, chief executive officer of Morgan Stanley, Brian Moynihan, chief executive officer of Bank of America Corp., Ron O’Hanley, president and chief executive officer of State Street Corp., Charles Scharf, chief executive officer of Bank
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