A couple wearing protective facemasks as a prevention measure against the COVID-19 coronavirus walk at a nearly empty shopping mall in Beijing on February 27, 2020. Nicolas Asfouri | AFP | Getty Images BEIJING — Chinese fervor for online shopping waned in August, a sign that the world’s second-largest economy still faces many challenges as it
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From working with Will Smith and Kevin Hart, to hosting thousands of events across the globe, Xiaoyin Qu’s schedule has been packed lately. In May, the 27-year-old Stanford dropout added the A-list entertainers to a string of big names eager to back her virtual events start-up with $10.8 million, as investors sought to ride the rising
Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana jumped after the online used car marketplace said it expects to set records in several categories during its third quarter, including total revenue and retail units sold. Shares were up 24% in premarket trading. The company previously declined to give forward guidance for the
Earlier this year, social distancing and the cataclysmic drop in demand for air travel was expected to bring a sharp rise in airfare prices. Flying was going to get expensive — a lot more expensive, according to some. Commercial aviation, the conventional wisdom said, would return to its 1950s roots as a luxury available only
Topline Wall Street analysts warn that the death of Supreme Court Justice Ruth Bader Ginsburg—and the ensuing battle over her successor—will engulf Washington and further decrease the likelihood of another fiscal stimulus bill to help the economy recover from the coronavirus recession. House Speaker Nancy Pelosi (D-Calif.), Senate Majority Leader Mitch McConnell (R-KY) and Senate
Democratic presidential candidate Joe Biden speaks during a press conference after meeting with public health experts about a Covid-19 vaccine in Wilmington, Delaware. Jim Watson | AFP | Getty Images A change to the tax incentives for saving in a retirement plan might be in store if Democratic candidate Joe Biden wins the election. In
Economic Security Planning, Inc. Today’s column addresses questions about how Social Security spousal benefit rates are calculated, when divorced spousal benefits can be available and widow’s benefits before full retirement age while still working. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which
There’s no question that the environment is changing daily. Many industries have seen this shift in the weather and opted to do their part to help the planet heal. Green building is an initiative that tries to reduce the carbon footprint of building and maintaining a home. Despite it being such a primary, pressing concern
Katrina Lake, CEO of Stitch Fix Adam Jeffery | CNBC Stitch Fix shares dropped by more than 13% in after-hours trading Tuesday as the company reported steep losses for the fiscal fourth quarter. Here’s how the company did during its fiscal fourth quarter ended Aug. 1 compared with Refinitiv estimates: Loss per share: 44 cents vs.
TransferWise co-founders Kristo Käärmann and Taavet Hinrikus. TransferWise LONDON — TransferWise, one of Europe’s most valuable private financial technology firms, just posted its fourth consecutive year of profitability. The online money transfer service said Wednesday that its net profit more than doubled to £21.3 million ($27.1 million) in the fiscal year ending March 2020. Annual
An AWS Ground Station satellite antenna at one of the company’s data center in Boardman, Oregon. Amazon Microsoft will offer a new service called Azure Orbital that connects satellites directly to its cloud computing network, the company announced at its Ignite conference Tuesday. The service will begin in a “private preview” to a select group of
There have been almost 200,000 deaths in the United States due to the coronavirus pandemic. And now, wildfires raging across the Western seaboard have killed dozens, burned over 3.6 million acres of land and over 6,400 structures. Residents have been cooped up inside to avoid polluted air. This is a crisis that even the titans of technology and innovation say
People gather outside of an apartment complex with the intention to stop the alleged eviction of one of the tenants in Mount Rainier, Maryland, U.S., August 10, 2020. Leah Millis | Reuters The stimulus stalemate has left lawmakers at odds over how to get more relief to millions of Americans who need it. Earlier this
While tax, appraisal, and legal considerations are all important for making effective and compliant contributions of Bitcoin (and other cryptocurrencies), the practical question remains – how does a donor move virtual currency from their ownership to a charity they support? getty Many charities do not have the expertise on staff, which is understandable considering that
By Diane Eastabrook, Next Avenue Contributor Blue and Bill Reeves, of Starkville, Miss., and friends Courtesy of Blue and Bill Reeves Autumn is making its way into State College, Pa. home to Penn State University. The days are shorter, the nights are cooler and trees are beginning to burst with color. But for local retiree
Smart home technology can reduce the risk of indoor Covid transmission. Delos – Anthony Barcelo (Photographer) The Centers for Disease Control posted updated Covid-19 transmission information on its website last Friday and removed it on Monday, claiming the posting was done in error with draft copy. The crucial information in the update concerned aerosols and
DeAndre Hopkins #10 of the Arizona Cardinals attempts to avoid a tackle against Jimmy Moreland #20 of the Washington Football Team during the second quarter at State Farm Stadium on September 20, 2020 in Glendale, Arizona. Norm Hall | Getty Images Sports drink company BioSteel on Tuesday announced a multi-year deal with Arizona Cardinals wide receiver DeAndre
Take a look at some of the biggest movers in the premarket: Amazon.com (AMZN) – Bernstein upgraded Amazon to “outperform” from “market perform,” saying a 16% drop in the stock over the past few weeks has created an attractive entry point. Bernstein highlights Amazon’s growth prospects, noting a 50% increase this year in fulfillment capacity.
Billionaire media mogul Barry Diller on Tuesday urged investors to maintain sizable cash positions following the stock market’s robust rally from coronavirus-induced lows in late March. “Personally, and professionally, every nickel you can, keep it … wherever it’s banked,” the chairman of both Expedia and digital media group IAC said on CNBC’s “Squawk Box.” Diller noted that IAC in August
Food banks in the Orlando, Florida, area face continued demand as unemployment due to the Covid-19 pandemic persists. Paul Hennessy/NurPhoto via Getty Images States are starting to run out of funding for enhanced unemployment benefits, leaving millions of workers without additional aid as hopes for more stimulus dwindle. At least nine states — including Alabama, Arizona,