A woman pushes a cart of groceries to her car outside an Albertson’s store in Denver, Colorado. Matthew Staver | Bloomberg | Getty Images U.S. supermarket operator Albertsons Companies on Thursday sold fewer shares than expected at a lower price than planned in its $800 million initial public offering, according to people familiar with the
GP: A logo of a Virgin Galactic is seen outside the building during the company’s first day of trading on the New York Stock Exchange (NYSE) on October 28, 2019 in New York City. JOHANNES EISELE | AFP | Getty Images Check out the companies making headlines after the bell. Virgin Galactic — Shares of
“It’s been a whirlwind, to say the least,” says Rosemary Ketchum. Ketchum, 26, became the first openly transgender elected official in West Virginia when she won a city council seat in Wheeling on June 9. She is now one of 27 out trans elected officials in America, according to the LGBTQ Victory Fund. Ketchum’s may seem an unlikely
Virgin Galactic’s spacecraft Unity comes into land during a glide test flight on May 1, 2020. Virgin Galactic Virgin Galactic successfully completed its second glide flight test in New Mexico on Thursday, a milestone that should set the company up to begin spaceflights next. The company said that after it completes “an extensive data review”
Sen. Marco Rubio, R-Fla. Michael Brochstein | SOPA Images | LightRocket | Getty Images The coronavirus stimulus checks have provided a financial boost to millions of Americans — except for those who filed tax returns with non-citizen spouses. A bill introduced on Thursday by Sens. Marco Rubio, R-Fla., and Thom Tillis, R-N.C., is seeking to
The administrator of the Small Business Administration, Jovita Carranza, looks on during the daily briefing on the coronavirus outbreak. Mandel Ngan | AFP | Getty Images The speedy rollout of the Paycheck Protection Program put cash into the hands of business owners — and it may have also paved the way for fraud. Those were
TOPLINE The stock market took a hit from disappointing unemployment data and a rising number of coronavirus cases Thursday morning, but rebounded after U.S. regulators said they would ease post-financial crisis restrictions on big banks. Several states are seeing record numbers of new coronavirus cases. Spencer Platt/Getty Images KEY FACTS The Dow Jones Industrial Average
TOPLINE The Federal Reserve on Thursday placed new restrictions on the banking industry for the first time since the aftermath of the 2008 financial crisis, requiring big banks to temporarily suspend share buybacks and cap dividend payments at current levels. The Fed cracked down on big banks in an effort to protect the economy during
Mortgage rates are at the lowest point on record, but both home purchase and refinances slowed this … [+] week. Getty Mortgage rates are still at all-time lows. According to the latest data from Freddie Mac, the average interest rate on a 30-year mortgage is just 3.13%—holding steady from last week and the lowest rate
Any policy changes that states like Texas and Florida, which appear to have expanding coronavirus outbreaks, decide to implement now likely won’t affect the spread of the virus for weeks to come, former Food and Drug Administration Commissioner Dr. Scott Gottlieb told CNBC Thursday. Due to the lag of how long it takes once someone is infected
An Olive Garden restaurant in Times Square in New York. Richard Levine | Corbis | Getty Images Darden Restaurants on Thursday reported that same-store sales were nearly cut in half during the fiscal fourth quarter as dining room closures from the coronavirus pandemic weighed on its revenue. But the Olive Garden parent expects its business to
The New York Stock Exchange (NYSE) stands in lower Manhattan on May 18, 2020 in New York City. Markets surged today as promising details of a potential COVID-19 vaccine were released and more European countries gradually re-opened after months of lockdown. Spencer Platt | Getty Images This is a live blog. Please check back for
Francis Bacon’s “Triptych Inspired by the Oresteia of Aeschylus.” Source: Sotheby’s Sotheby’s plan to auction off a $60 million painting on Monday night marks the first real test of the global art market since the coronavirus pandemic — and is a bold experiment in the centuries-old model for sales auctions. Sotheby’s aims to sell more
Mohamed El-Erian told CNBC on Thursday he’s waiting to put cash to work as the stock market faces more uncertainty due to the coronavirus pandemic. “I have money on the sidelines, and I missed the last rally of the last three weeks. I’m not putting it to work here,” the chief economic advisor at Allianz said on
Siriluck Srikumbang / EyeEm Perhaps you are approaching retirement and getting a bit nervous from these wild market swings. It has, after all, been an emotional ride lately, and there are no signs of it letting up soon. You may be thinking: Is it time to “de-risk” your portfolio by dumping stocks and seeking the
Audtakorn Sutarmjam / EyeEm For some investors, getting a piece of a legal settlement can happen without ever being part of a lawsuit. It comes from investing in so-called litigation finance — a strategy that generally involves providing cash to litigants or attorneys to fund their cases in exchange for a portion of any awarded
With Covid-19 grinding the economy to a halt, the best in state banks and credit unions have been … [+] forced to up their game. (Photo by Daniel Bockwoldt/picture alliance via Getty Images) Getty Images With the economy in turmoil after the outbreak of the coronavirus, banks and credit unions across the country have been
In part two of Tax Notes’ three-part series: Paying for the Pandemic, watch William G. Gale, co-director of Urban-Brookings Tax Policy Center, make a case for raising revenue with a progressive value-added tax. Here are a few highlights… On forecasting the GDP ratio William G. Gale: The estimates that we did [in my article] involve this scenario called
The Hamptons, a coveted vacation destination for the wealthy, saw a spike of more than 70% in luxury … [+] home views in May compared to a year ago. Getty Similar to the wider U.S. housing market, which is bouncing back from the early, dampening effects of the coronavirus pandemic, the luxury segment recorded a
A Sun Tran employee offers free masks to passengers to prevent the spread of the coronavirus disease (COVID-19), at the downtown bus station in Tucson, Arizona, U.S., June 20, 2020. Cheney Orr | Reuters The U.S. broke its record for the highest coronavirus cases recorded in a single day, with 36,358 new positives reported on