Magic Johnson Getty Images With the future of small businesses in urban communities at risk, former National Basketball Association great Magic Johnson has stepped in to offer assistance. The CEO of Magic Johnson Enterprises collaborated with MBE Capital Partners to offer $100 million in loans to minority- and women-owned companies hurt by stay-at-home orders due
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Petar Chernaev Millions of people want a better idea of how to handle their money. Personal finance experts have lots of tips and info on managing your money, from sticking to a budget to avoiding credit cards. But is the advice out there always the right advice for you? Maybe not. Maybe a budget isn’t
How will California and other high tax states treat you if you working from home and just trying to stay safe in this strange new era? It is a surprisingly open question, raising state tax and even city tax issues in California and beyond. As the New York Times NYT recently warned, sheltering in place
TOPLINE The market finished lower on Tuesday, following its biggest rally in six weeks on Monday, as stocks came under pressure following a STAT News report that raised questions about the trial results for Moderna’s potential coronavirus vaccine. Retail and bank stocks were hardest-hit on Tuesday. Spencer Platt/Getty Images KEY FACTS The Dow Jones industrial
According to a new study, most homeowners seeking mortgage forbearance don’t actually need the help. Getty More than 4 million homeowners have now been granted forbearance on their mortgage loans. But in 70% of those cases? The homeowners didn’t actually need the break. According to a new study from LendingTree TREE , almost 70% of
A week of retail earnings kicked off before the market open on Tuesday, with Walmart and Home Depot each reporting strong same-store sales growth as consumers stocked up and stayed home during the quarter. The World Health Organization’s assembly continues for a second day, as critical eyes continue to fall on the agency and the
Wall Street stands empty as people stay away from the area due to the coronavirus on March 30, 2020 in New York City. Spencer Platt | Getty Images This is a live blog. Please check back for updates. 8:21 am: Moderna falls after new stock offering Shares of Moderna were down 6% in premarket trading
People wearing masks and gloves wait to enter a Walmart on April 17, 2020 in Uniondale, New York. Al Bello | Getty Images Walmart is set to report its first-quarter earnings before the bell on Tuesday. The big-box retailer has kept stores open as an essential retailer during the coronavirus pandemic. To meet demand, it hired 200,000
JPMorgan Chase CEO Jamie Dimon said Tuesday in a memo that the coronavirus crisis should be used to build an economy that offers opportunities for “dramatically more people.” The memo, issued ahead of his bank’s annual shareholder meeting, served as an update to the New York-based bank’s response to the pandemic. Dimon also detailed the steps his
For entrepreneurs on ABC’s “Shark Tank,” a million-dollar investment is difficult to get. But on Friday’s episode, co-founders Joe Demin and Rachel Connors left the Tank with a $1 million deal, even though they only asked for $400,000 in return for a 7% stake in their company. “It’s never happened before in ‘Shark Tank’ history
Signs hang from the Meridian Heights apartment building in Northwes Washington on Monday, May 18, 2020. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) Caroline Brehman The unemployment drama playing out in the U.S. has drawn comparisons to the Great Depression, the worst economic downturn in the history of the industrialized world. But is
The stock market is inevitably volatile. Its nature is to rise and fall in the short term and level out in the long term. However, following the ups and downs of an unstable market is especially stressful during a pandemic that has impacted the global economy so heavily. Watching your investments fluctuate rapidly can be
A worker for United Parcel Service Inc. (UPS) makes deliveries on a street with closed stores in the Borough Park neighborhood in the Brooklyn, New York, April 7, 2020. Stephanie Keith | Bloomberg via Getty Images Of small and medium-sized businesses that have been forced to shut down during the coronavirus pandemic, more than half
Getty The Internal Revenue Service (IRS) has already delivered more than 140 million Economic Impact Payments (EIPs, or stimulus checks) worth $239 billion by direct deposit to accounts at financial institutions, Direct Express card accounts, and by check. Beginning this week, some Americans will receive nearly 4 million EIPs by prepaid debit card, instead of
Photo: Getty Don’t believe all you see in the news: New York City is not disappearing. It has certainly been hard hit. The Big Apple has become the epicenter of the coronavirus pandemic. The death toll is high, the anxiety is deep and the images are brutal. But New York is tough. It has seen
It may be premature to turn bullish. Despite Monday’s massive rally, Canaccord Genuity’s Tony Dwyer finds stocks haven’t broken out of the ‘”frustration” stage of the recovery. He breaks down the post-market crash environment into three phases: Panic, relief and frustration. “Once you crash, you go into a panic phase,” the firm’s chief market strategist
World leaders are meeting virtually Monday at the World Health Organization’s 73rd World Health Assembly to discuss and set priorities for the next year. At the assembly, Chinese President Xi Jinping announced $2 billion in funds to support other countries’ response to the pandemic. South Korean President Moon Jae-in called for greater authority to be vested
Even though he doesn’t win them all, billionaire investor Mark Cuban has an eye for vegan companies on ABC’s “Shark Tank.” But when Cuban invested in a vegan, non-GMO soap and body care company during Friday’s episode, his fellow Sharks thought he was crazy to do so. Three best friends – Anthony Duncan, with brothers Mohammed A. and
As cities and states begin to reopen for business, franchisees are laying out their plans for operating in a new socially distanced world, where coronavirus remains a risk. Beyond worrying about the safety of workers and guests, there are potential liability concerns and the biggest question of all: will consumers feel safe enough to patronize restaurants,
Don Bayley | Vetta | Getty Images Retirees who feel their Social Security benefits aren’t stretching as far as they used to aren’t imagining it. Retiree costs are going up at a rapid clip, and Social Security cost-of-living adjustments are not keeping up with those growing expenses, according to a recent report from The Senior