TOPLINE Senate Republicans unveiled a new coronavirus relief proposal Monday that would replace the extra weekly $600 unemployment aid (which end this week) with a 70% wage-replacement program—but state labor departments are scrambling to figure out how their overwrought systems would handle the payments. House Speaker Nancy Pelosi (D-Calif.) called for an extension of unemployment
Month: July 2020
TOPLINE The market finished higher on Wednesday as investors cheered the Federal Reserve’s decision to keep interest rates near zero and shares of Big Tech stocks rallied. Federal Reserve Chairman Jerome Powell at a House testimony last month. Tasos Katopodis/Getty Images KEY FACTS The Dow Jones Industrial Average was up 0.6%, over 150 points, on
Couple and receptionist at counter in hotel wearing medical masks as precaution against virus. Young … [+] couple on a business trip doing check-in at the hotel Getty Prior to the Covid pandemic, hotel occupancy rates were hitting record highs and average daily rates (ADRs) were rising. Now, with the possible exception of restaurants and
President Donald Trump continues to publicly tout the anti-malarial drug hydroxychloroquine as a Covid-19 treatment, despite scientific research that has shown no benefit of the drug for coronavirus patients. Across the country, cases are still increasing by the tens of thousands and the U.S. reports nearly 1,000 deaths, on average, every day. California, Florida, Texas and several
Larry Culp, CEO, General Electric Scott Mlyn | CNBC General Electric reported on Wednesday a revenue figure for the second quarter that slightly beat analyst expectations, sending the stock higher. However, the industrial giant’s bottom line took a bigger-than-expected hit as the company weathers the coronavirus pandemic. Here’s how the company’s results compared to analyst expectations:
US Federal Reserve Chair Jerome Powell speaks at a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images Stock futures were little changed in early morning trading on Wednesday as investors await a congressional hearing on antitrust in Big Tech as well as the Federal Reserve’s latest
fstop123 | E+ | Getty Images This summer, more than a dozen states are offering shoppers a back-to-school sales tax break. Whether it’ll be enough to draw legions of parents to mom-and-pop shops amid a pandemic is looking iffy. Depending on the state where you’re shopping, you can knock off anywhere from 4% (Alabama) to
The CARES Act offers many opportunities for relief for businesses and individuals during the … [+] pandemic. getty 2020 has been a colossal mess. For the first time in 100 years, we’ve encountered a NON-manmade economic crisis. The economic punch delivered by the coronavirus pandemic is staggering; dropping US GDP by the second largest decline
TOPLINE The market opened slightly higher on Wednesday as investors closely watch for the Federal Reserve’s latest policy decision and a congressional hearing on antitrust in Big Tech later in the day. The Federal Reserve building. Daniel Slim/AFP via Getty Images KEY FACTS The Dow Jones Industrial Average was up 0.1%, nearly 50 points, at
The design duo’s latest collection for Living Spaces is chic and versatile. Living Spaces Finding beautifully designed, quality furniture at an accessible price point can be a challenge. But famed husbands and interior design duo, Nate Berkus and Jeremiah Brent just launched a new collection for Living Spaces that checks every box with chic, transitional pieces
“We are on the verge of a large-scale community outbreak, which may lead to a collapse of our hospital system and cost lives, especially of the elderly,” the chief executive said. Hong Kong was initially able to contain the virus despite being relatively close to the city of Wuhan in China, where infections were first detected
Lisa Su, CEO, AMD Scott Mlyn | CNBC AMD shares rose as much as 10% in extended trading on Tuesday after the company upgraded its revenue guidance for the current year as part of its second-quarter earnings results. Here’s how the company did: Earnings: 13 cents per share, adjusted, vs. 16 cents per share as
Eastman Kodak soared on Tuesday after President Donald Trump announced a deal to work with the photography pioneer to produce ingredients in generic drugs in response to the coronavirus pandemic. Shares of Kodak soared more than 60% in extended trading. The stock more than tripled during Tuesday’s regular trading for its best day ever after the U.S.
Senate Majority Leader Mitch McConnell, R-Ky. Photo by Stefani Reynolds/Getty Images Republicans have introduced their proposal for the next coronavirus relief package, a $1 trillion plan called the HEALS Act. Notably absent from their agenda: relief for people with student debt. The plan calls for streamlining the number of repayment options, but wouldn’t extend the
Ryan German has kept 40 employees working at his restaurant, Caffe Gelato, in Newark, Delaware. The Paycheck Protection Program provided a lifeline to help him through an unprecedented spring as the coronavirus pandemic tore through the country. The loan, now exhausted, covered seven weeks of payroll. But the restaurant is facing down an unknown future with
Are there cases when the amount of guaranteed income can be decreased? Generally, if an annuity contract states that a guaranteed income level remains for life then this is the case as long as distributions do not exceed the guaranteed levels. But some annuity providers make clear that there is an option to receive more
The United States Capitol building at sunset, Washington DC, USA. getty One of the drumbeats of the current Congress is the need to be more fiscally responsible. That makes sense. Our current national debt is $26,536,793,171,015 – and growing. The federal deficit - so far for 2020 – is $2.744 trillion. That’s following a Congressional Budget Office
Real estate agents could have their license revoked if they engage in racial discrimination on the … [+] job. getty After a newspaper investigation uncovered widespread race-based discrimination in the Long Island housing market, New York has passed a bill that puts a real estate agent or broker’s license on the line if they are
An employee wearing protective gloves handles an order at a prototype location of fast food giant McDonald’s for restaurants which respect the 6ft social distancing measure. Piroschka van de Wouw | Reuters McDonald’s is seeing some consumer behavior trends reverse as lockdowns ease, but the fast-food giant thinks higher delivery orders and other buying patterns will
The Pfizer world headquarters stands in Midtown Manhattan in New York City. Drew Angerer | Getty Images Shares of pharmaceutical giant Pfizer rose in premarketing trading Tuesday after it reported better-than-expected second-quarter earnings and raised its outlook for 2020, despite a 32% drop in profit as demand fell for some of its drugs during the
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