A coronavirus relief agreement in Congress remained in doubt early Friday, just as extended unemployment benefits are set to end and new economic data showed a U.S. economy buckling under the pandemic’s weight. The Commerce Department said gross domestic product from April to June plunged 32.9% on an annualized basis, the biggest quarterly plunge in activity
Month: July 2020
Fuel prices are displayed at an Exxon Mobil Corp. gas station in Arlington, Virginia, U.S., on Wednesday, April 29, 2020. Andrew Harrer | Bloomberg | Getty Images Exxon said on Friday that it lost $1.1 billion during the second quarter amid “global oversupply and COVID-related demand impacts.” It was the oil giant’s second straight quarter of
The U.S. economy will face great risk if lawmakers do not step up and stave off a looming, far-reaching eviction crisis, an economist with mortgage aggregator LendingTree told CNBC on Friday. With eviction moratoriums lifting across the country, landlords could eventually default on mortgages and the coronavirus pandemic could worsen in the country if tens
In the $1 trillion stimulus proposal released by Senate Republicans on Monday — the Health, Economic Assistance, Liability Protection and Schools, or HEALS, Act — the $600 per week unemployment boost of the CARES Act, which expires Friday, would decrease to $200 per week. That’s because Republican leaders have largely said the extra $600 a week discourages people from returning to
Warren Buffett, chairman and CEO of Berkshire Hathaway David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway this week again added to his already-enormous stake in Bank of America at a time when the coronavirus pandemic dampens the economic outlook and interest rates hold near record lows. A Securities and Exchange Commission filing showed Buffett’s
Protesters gather at a July 22 rally in Boston in support of legislation to block evictions in Massachusetts for up to a year. Boston Globe | Boston Globe | Getty Images If you’re facing eviction during the pandemic, you’re definitely not alone. Up to 40 million Americans may lose their homes in this downturn, four times the
getty In order to make the most of your retirement savings in your former employer’s plan, you need to act sooner rather than later. This is particularly true if you have recently changed your job, have become disabled, or are nearing 59 ½. It is necessary to understand what options you have and the inherent
Flags outside the United Nations building. getty Is there an appetite for global tax multilateralism? Michael Lennard is optimistic but cautious. Lennard, chief of international tax cooperation and trade in the U.N. Financing for Development Office, thinks the world is not yet at a “high point for multilateralism,” even though taxation is a global issue in a
As we roll toward the half-year mark of the COVID-19 pandemic, the effects on work, office space, and focus have been profound. Executives can now be found working out of what had been guest rooms, attics, or walk-in closets. The need to work in corporate offices, once considered indispensable, is now being rethought in its
Merck & Company, Inc., d.b.a. Merck Sharp & Dohme outside the United States and Canada, is an American pharmaceutical company and one of the largest pharmaceutical companies in the world. Igor Golovniov | LightRocket | Getty Images Merck has scheduled “very large pivotal studies” for its oral coronavirus treatment in collaboration with Ridgeback Biotherapeutics as
Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, U.S., on Monday, Jan. 27, 2020. Luke Sharrett | Bloomberg | Getty Images Industrial machinery manufacturer Caterpillar said Friday that cost reduction and prioritized spending helped it offset a $1.4 billion decline in dealer inventories during the second quarter and
Chevron reported an $8.3 billion loss in the second quarter as the coronavirus pandemic “significantly reduced demand.” Amid a historic drop in oil prices, the company’s average price per barrel of oil and natural gas liquids dropped more than 60% year-over-year. The oil giant lost $1.59 per share on an adjusted basis, while revenue came
Throughout the Covid-19 crisis, White House coronavirus advisor Dr. Anthony Fauci has become a household name and the unofficial face of fighting the pandemic. And now he has his own trading card. The president of the National Institute of Allergy and Infectious Diseases threw the first ceremonial pitch for Major League Baseball’s 2020 season on
Apple‘s decision to split its stock was done to help make it more accessible for investors, CNBC’s Jim Cramer said Friday, referencing a conversation he had with its CEO, Tim Cook. “I think Apple is taking the right move. Tim told me last night, ‘Hey, I want more people in the stock,'” Cramer said on
For millions of students with disabilities and special needs in U.S. public and private schools, the shift to remote learning has created an even greater host of challenges — and, in some cases, additional financial pressures for their families. Special needs students require varied educational and support services. In this coronavirus pandemic, many families are
getty Many estate planners will admit that a lot of the plans don’t achieve the owners’ goals. Most of these failures were avoidable. The failures most often result from the nontechnical aspects of the plan, what some refer to as the human side, or soft side, of an estate plan. There’s not a lot of
Bitcoin cryptocurrency representation is seen in this illustration photo taken in Poland on June 17, … [+] 2020 (Photo by Jakub Porzycki/NurPhoto via Getty Images) NurPhoto via Getty Images Unfortunately, scams are far too common in the cryptocurrency space. Last week, hackers broke into Twitter’s systems and lured innocent people into sending bitcoin into the
Lee Kiser is a multifamily expert, active broker and Principal of Kiser Group, Chicagoland’s leading mid-market multifamily brokerage firm. getty There is a broad spectrum of commercial real estate types to consider when investing. When the economy shifts or crises occur, multifamily has consistently proven its resiliency, stability and predictability. Multifamily is doing so again during Covid-19
Singapore Airlines (SIA) welcomes the world’s first Boeing 787-10 aircraft (in the air) as it approaches after its flight from Boeing’s production facility in North Charleston, South Carolina at Singapore Changi Airport on March 28, 2018. ROSLAN RAHMAN | AFP | Getty Images As air carriers worldwide are caught in a “race against time” while
Jim Hackett of Ford Motor speaks at an event during the 2018 North American International Auto Show (NAIAS) in Detroit, Michigan, U.S., on Jan. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Ford Motor is expected to report billions of dollars in losses due to the coronavirus when it releases its second-quarter earnings after
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