DuPont products are shown for sale in a hardware store in National City, California, December 9, 2015. Mike Blake | Reuters Industrial materials maker DuPont on Tuesday slashed its capital expenditure by about $500 million and raised its annual cost-savings target to counter global trade uncertainties brought on by the coronavirus outbreak. The industrial giant
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A restaurant employee wearing a protective mask poses behind the counter amid the coronavirus pandemic on April 28, 2020 in New York City. Alexi Rosenfeld When it comes to the economic fallout from the coronavirus pandemic, many young professionals are asking, “Will I still have a job?” And no wonder, as 63% of young Americans
Naguib Sawiris, billionaire and chairman of Orascom Investment Holding. Sima Diab | Bloomberg | Getty Images Egyptian billionaire Naguib Sawiris says he would buy airlines, going against fellow billionaire investor Warren Buffett, who announced that Berkshire Hathaway sold all its airline stocks at the firm’s annual meeting on Saturday. Sawiris, chairman and CEO of Orascom Investment
For those seeking to spend more in retirement than the bond yield curve can support, the alternative to seeking risk premium through an aggressive asset allocation is to pool risk through insurance. Income annuities are the simplest type of insurance products which trade a lump-sum payment for protected lifetime income. The ability to convert a
Ranking member Sen. Ron Wyden, D-Ore., left, speaks with chairman Sen. Chuck Grassley, R-Iowa, during the Senate Finance Committee hearing on “The United States-Mexico-Canada Agreement” on Tuesday, July 30, 2019. Bill Clark | CQ Roll Call | Getty Images Companies that cover the cost of health insurance for their furloughed workers may miss out on
Getty The IRS ruled that a Paycheck Protection Program (PPP) borrower who spends PPP funds on normal business expenses cannot deduct those expenditures for federal tax purposes. But its position, which left many in congress wondering if the IRS missed the 335-page memo, may not be the last word. Today, a bipartisan group of congressional leaders formally alerted the Treasury
At least 30 million workers have filed for unemployment in the U.S. in just six weeks. Photo by JOHANNES EISELE/AFP via Getty Images Topline: As the coronavirus pandemic keeps Americans confined to their homes, nearly every industry has been negatively impacted by the disease, and businesses losing out on cash flow have started laying off
Beyond Meat posted better-than-expected earnings for the first quarter Tuesday, but warned that it saw a drop in sales at the end of March as the coronavirus pandemic shuttered restaurants around the country. Given the uncertainty regarding restaurant sales, the company withdrew its earnings forecast for the year. “I am proud of our first-quarter financial results,
The U.S. economy can return to positive growth in the third quarter after a massive drop in employment and GDP, Federal Reserve Vice Chairman Richard Clarida told CNBC on Tuesday. “Our policies we think will be very important in making sure that the rebound will be as robust as possible. We’re in a period of
The Walt Disney character Mickey Mouse greets children at Magic Kingdom in Orlando, Florida. Getty Images Last year, Disney’s Parks, Experiences and Consumer Products segment was its fastest-growing profit driver. Now, it could be the company’s biggest drag on earnings, thanks to the Covid-19 outbreak. The coronavirus pandemic has caused many headaches for Disney. The
Many companies are being hurt by social distancing safety rules due to the coronavirus and investors may want to reevaluate whether to own their stocks, CNBC’s Jim Cramer said Tuesday. “Social distancing is going to be the answer why you have to sell certain stocks,” Cramer said. For companies that need to invest heavily to help
MSNBC: Answering your questions about coronavirus Monthly retirement for a $50,000 salary factoring in Social Security and savings Here’s how to get into the habit of saving more and spending less How to pay less in taxes on your Social Security benefits How to earn $40,000 in interest every year in retirement Here’s how to
U.S. President Donald Trump speaks to reporters as Senator Roy Blunt (R-MO) and Small Business Administration (SBA) Administrator Jovita Carranza look on during a signing ceremony for the “Paycheck Protection Program and Health Care Enhancement Act,” approving additional coronavirus disease (COVID-19) relief for the U.S. economy and hospitals treating people sickened by the pandemic, in
Oliver Rossi Many financial advisors may soon have to start calling themselves something else. Some financial and wealth advisors will have to ditch the term “advisor” in their marketing, according to a federal rule that takes effect next month. The rule, known as Regulation Best Interest, and issued by the SEC, aims to reduce investors’
TOPLINE With Madison Square Garden successfully completing the separation of its sports and entertainment businesses last month, the spinoff created two separate stocks which are both currently undervalued, according to market experts. Revenue potential from The Sphere, Las Vegas project may be getting overlooked by the market. Eduardo Munoz/Corbis via Getty Images KEY FACTS Last
Coronavirus and the United States map with flag. Getty In this episode of Tax Notes Talk, Katie Quinn of McDermott Will & Emery discusses the state tax implications of the COVID-19 pandemic with Tax Notes senior reporter Lauren Loricchio. The interview has been edited for length and clarity. Lauren Loricchio: Hi Katie, thanks for being on the podcast.
Simon Property Group SPG yesterday posted news on its website that the mall operator had reopened 59 properties, with plans to have another 18 ready again for shoppers within the next week “with many more to follow.” Business hours at the malls located in Alaska, Arkansas, Georgia, Indiana, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee, Texas,
Workers near a cruise ship of the Norwegian Cruise Line which is in dry dock receiving hull maintenance and interior modernization work. Gerald Julien | AFP | Getty Images Norwegian Cruise Line said there is “substantial doubt” about its ability to continue as a “going concern” as the coronavirus pandemic wreaks havoc on the industry, the
A view of people passing by New York Stock Exchange in Wall Street amid Coronavirus Pandemic on April 5, 2020. John Nacion | NurPhoto | Getty Images This is a live blog. Check back for updates. 7:27 am: Pfizer begins human vaccine trials in the US Pharmaceutical giant Pfizer on Tuesday announced that the first
Niraj Shah, CEO, Wayfair Ashlee Espinal | CNBC Online furniture retailer Wayfair‘s net loss widened in the first quarter as its sales surged nearly 20%, with more people flocking to its website to furnish their home offices and bedrooms during the coronavirus pandemic. Its shares fell roughly 3% in premarket trading following the announcement. Here’s how the