LeoPatrizi The Paycheck Protection Program may have been an exercise in frustration for small-business owners, but here’s the silver lining: They might be better equipped to weather the next crisis. The federal government rolled out the so-called PPP in April as coronavirus and the ensuing stay-at-home orders took their toll on small businesses. The forgivable
Month: June 2020
As protests continue to roll across the country – and world – it has forced many leaders, officers and people at home to address, learn and simply think about systemic racism within the judicial system, particularly police departments. For many, though, the protests have had further reach, as we analyze all areas of the United
TOPLINE The Federal Reserve left rates unchanged on Wednesday and indicated that they’ll likely remain near zero until at least 2022 as the economy tries to recover from the coronavirus recession. The central bank expects the economy to shrink by 6.5% this year. Jacquelyn Martin/ASSOCIATED PRESS KEY FACTS The Fed painted a grim view of
We must all, managing agents and brokers alike, refuse to sanction prejudice, even if ignoring it … [+] seems easier, even if, this time, it doesn’t touch us directly. Getty “I just cannot bear the thought of having one of them over me” These (paraphrased) words from a Southern woman after the election of Barack
Confederate flags are seen flying over the infield campground prior to the NASCAR Sprint Cup Series Bojangles’ Southern 500 at Darlington Raceway on September 6, 2015 in Darlington, South Carolina. Jerry Markland | Getty Images NASCAR said Wednesday that it is is banning the display of the Confederate flag at all events and properties of
A man wears a protective mask as he walks past the New York Stock Exchange on the corner of Wall and Broad streets during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. Lucas Jackson | Reuters Stock futures fell in overnight trading on Wednesday as investors evaluate the pace of
CNBC’s Jim Cramer on Wednesday highlighted another outdoors-oriented stock that he thinks is sporting an attractive sell price. Polaris, a manufacturer of snowmobiles, motorcycles, boats and other vehicles, is another way investors can play a leisure industry that has been turned on its head, the “Mad Money” host said. “If you believe, as I do,
Mohamed El-Erian, who in early March correctly called a coronavirus-driven bear market, told CNBC on Monday he’s reluctant to buy the latest stock rally. “For me personally, it’s an uncomfortable bet to continue to bet on a huge recovery,” the chief economic advisor at Allianz said on “Squawk Box.” “I don’t like doing this. But
The Federal Reserve said Wednesday it will hold its benchmark interest rate near zero through 2022 to help the economy recover from the coronavirus crisis. “The Fed has cut interest rates as low as they are going to go without going into negative rates,” said Greg McBride, chief financial analyst at Bankrate.com. The economic shock from Covid-19 may call for drastic measures,
Slowly but surely, small businesses are rehiring workers as plans to reopen from the coronavirus lockdown progress across the country. Employee headcount increased by 3.2% in May, although it remains below pre-pandemic levels overall, according to exclusive data compiled by human resource provider Gusto and based on more than 100,000 small businesses nationwide. In addition,
Smartphone use is a skill that can be learned by anyone of any age Getty At the beginning of this month, much of the country opened access to greater commerce and socialization. However, the great opening up will not include everyone. Most of the seniors (age 60+) I’ve talked to have no intention of going to
Getty On March 20, 2020, Treasury Secretary Mnuchin extended the tax filing and payment deadline for federal income tax to July 15, 2020. This relief includes estimated payments for the first and second quarters. You can find more information and guidance here. Some states have also extended filing and payment deadlines – but not all of
A foreclosed home from the last cycle. Photographer: Jacob Kepler/Bloomberg News BLOOMBERG NEWS There is an old saying in the real estate development business: when a novice makes a mistake, it’s because they missed the nuances of the market; when a pro makes a mistake, it’s because they missed the obvious. Some participants in the
People ride past murals painted on boards covering bar windows on 6th Street on May 20, 2020 in Austin, Texas. Tom Pennington | Getty Images Texas health authorities said there are currently 2,153 patients sickened with Covid-19 across its hospitals, marking the third-straight day Wednesday of record-breaking coronavirus hospitalizations in the state. The new total
A person wears a protective face mask outside Starbucks in Kips Bay during the coronavirus pandemic on May 13, 2020 in New York City. Noam Galai | Getty Images Starbucks expects to swing to a loss in its fiscal third quarter as the company predicts it lost as much as $3.2 billion in revenue due to
Traders wearing masks work inside posts, on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26, 2020. Brendan McDermid | Reuters This is a live blog. Please check back for updates.
Tony Fadell, Inventor of the iPod and former CEO of Nest attends a conference during Viva Technology at Parc des Expositions Porte de Versailles on June 16, 2017 in Paris, France. (Getty | Christophe Morin) Before becoming known as the “father of the iPod,” Tony Fadell said he was rejected by 80 venture capital investors
Shoppers enter a Michaels store in Miami, Florida. Scott McIntyre | Bloomberg | Getty Images Arts and crafts retailer Michaels Stores is having its best day ever. The reason behind this monster move was a simple bullish call from JPMorgan. Shares of Michaels are up than 50% on Monday, its biggest one-day jump on record. This
AleksandarNakic Our nation is facing unprecedented times, and financial advisors are facing upheaval when their clients need them the most. More than 40 million people have applied for unemployment benefits since early March, while the economic outlook remains grim. The Atlanta Federal Reserve projects that the nation’s gross domestic product during the second quarter will
The economic shock from Covid-19 may call for drastic measures, but negative interest rates are not one of them — at least not yet. The Federal Reserve has never brought its benchmark rate into negative territory and, according to Fed Chairman Jerome Powell, the central bank is not considering going to negative interest rates now. Experts agree. “I view that as
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