Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus, during a news conference in Washington, March 3, 2020. Kevin Lamarque | Reuters With a series of moves that take it still deeper
Month: April 2020
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 1,709,000 Global deaths: At least 103,536 US cases: More than 501,600 US deaths: At least 18,777 The data
The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC The IRS is giving taxpayers extra relief on upcoming deadlines, pushing the due date for more returns and payments to July 15. Taxpayers have three more months to submit their 2019 income tax returns and payments, and now the IRS is granting additional
Carson Block Anjali Sundaram | CNBC Carson Block’s Muddy Waters Research announced Wednesday it has taken a short position in eHealth Inc., which owns a digital health insurance exchange. Block, the firm’s founder, disclosed the position on CNBC’s “Squawk Box.“ Muddy Waters argues eHealth, with a stock market value of $3 billion as of Tuesday’s close,
Federal Reserve Vice Chairman for Supervision Randal Quarles addresses the Economic Club of New York in New York City, October 18, 2018. Brendan McDermid | Reuters The Federal Reserve Main Street lending program targeting mid-size businesses should be up and running in a few weeks, a senior central bank official said Friday. Vice Chairman Randal
A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images After weeks of lobbying, fintech companies are officially allowed to take part in the U.S. government’s emergency lending program. PayPal and Intuit QuickBooks announced Friday evening that they were approved by the Small Business Administration to take
Fiat Chrysler is recreating the 1993 movie “Groundhog Day” with Bill Murray for a Super Bowl ad for the Jeep Gladiator pickup. Fiat Chrysler Fiat Chrysler is reviving its “Groundhog Day” Super Bowl ad featuring actor Bill Murray as part of a series of social media videos for its brands and the coronavirus pandemic. The
Before and after satellite images and drone footage reveal empty city streets around the world, from China to Italy, the UK and the US. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132 ► Check out our Community tab for more stories or to suggest videos.
Go inside the KitKat factory in Japan to see how the candy is made, including unconventional flavors like cheesecake and wasabi.
kate_sept2004 If you’re paying a financial advisor to guide you through current market havoc, groups representing those professionals want you to nab a tax break for those fees. A quintet of groups representing financial advisors is calling upon Congress to restore a tax deduction for advisory fees. “We think it’s good public policy at any
For anyone who became accustomed to watching their 401(k) account balance climb higher for years on end, the market’s recent drop and continued volatility may be unnerving if not downright scary. Nevertheless, you shouldn’t let fear cause you do something that could hurt your long-term retirement planning, advisors say. “The coronavirus is certainly creating a
The Federal Reserve is lifting the asset cap it has imposed on Wells Fargo so the bank can participate in the government’s business lending programs. In a move that was expected, the central bank said Wells will have to return proceeds it gets from the Payment Protection Plan and a coming Main Street lending program
ROME, ITALY – MARCH 14: People watch tv as Italian Prime Minister Giuseppe Conte delivers his speech on the new economic measures due to Coronavirus emergency on March 14, 2020 in Rome, Italy. Franco Origlia Italian Prime Minister Giuseppe Conte on Friday extended a nationwide lockdown to contain the coronavirus until May 3, though he
JetBlue planes at a gate at John F. Kennedy International Airport in New York. Mark Kauzlarich | Bloomberg | Getty Images Goldman Sachs is taking another step into the world of retail banking with an installment loan product that’s launching with JetBlue Airways. The bank quietly released a website for something called MarcusPay this week, allowing users to
Greektown, a popular casino and restaurant area of Detroit, sits deserted during evening rush hour on April 6, 2020. Michael Wayland / CNBC The streets of downtown Detroit are desolate. Its factories are shuttered. A city that for the first time in a lifetime was showing strong signs of a resurgence has been brought to
As more than 16 million Americans have lost their jobs in the last three weeks, many have scrambled to apply for unemployment insurance to help cover their expenses. And some workers age 62 and up may also consider tapping another source: Social Security retirement benefits. During the financial crisis, more people decided to file for
James Gorman, chief executive officer of Morgan Stanley Qilai Shen | Bloomberg | Getty Images Morgan Stanley CEO James Gorman fell ill with the coronavirus about three weeks ago and has since recovered and been cleared by physicians, according to a company spokesman. The executive remained in charge of Morgan Stanley the entire time he
TOPSHOT – French Economy Minister Bruno Le Maire (C) gestures as he and his advisors negociate with European partners on the phone before the Eurogroup meeting at the minister’s office in Paris, on april 9, 2020. LUDOVIC MARIN Euro zone finance ministers sealed a new coronavirus stimulus package on Thursday worth around half a trillion
A United Airlines plane sits parked at a gate at San Francisco International Airport on March 06, 2020 in San Francisco, California. Justin Sullivan | Getty Images Check out the companies making headlines after the bell. United Airlines — Shares of the airline rose 3% after the market closed. Treasury Secretary Steven Mnuchin said Thursday that
Walmart said it’s seen a surge in demand for hair color, beard trimmers and sewing machines as Americans stay at home during the coronavirus pandemic — and it’s still working hard to keep up with a spike in toilet paper sales. The big-box retailer has hired more than 100,000 new workers over the past three weeks
Neil deGrasse Tyson is a renowned astrophysicist who can explain just about everything related to science and outer space. Well, except for one thing. “Dark matter. I get asked what it is. And my best answer is we haven’t a clue. We don’t know what it is,” Tyson tells us. The StarTalk Radio host does
Framing designer Leticia Bartelle Lorenzoni searches Social Security services on the internet in her house after losing her job at a framing art gallery, during the coronavirus outbreak, in Los Angeles, California on April 1, 2020. APU GOMES Many Americans, now more than ever, are learning how to stretch their dollars. Faced with layoffs, furloughs
CNBC’s Jim Cramer on Thursday praised the Federal Reserve‘s latest moves to help keep afloat a U.S. economy that’s been battered by the coronavirus pandemic. Before the stock market opened, the Federal unveiled details of its much-anticipated Main Street lending program and other initiatives, a total of $2.3 trillion in loans to help businesses and municipalities.
Federal Reserve Chairman Jerome Powell said Thursday that the economic rebound following the coronavirus-induced shutdown “can be robust” despite the sharp downturn. In the meantime, he said the central bank is committed to doing whatever it can to support the flow of cash to businesses and households both through a plethora of financing programs and
A worker uses a thermometer to check the temperature of a customer as she enters a Starbucks shop as the country is hit by an outbreak of the new coronavirus, in Beijing, China January 30, 2020. A worker uses a thermometer to check the temperature of a customer as she enters a Starbucks shop as
A man directs vehicles as they arrive at a rapid COVID-19 testing site in Lowell, MA on April 07, 2020. On Tuesday, April 7, CVS Health will launch the operation of a rapid COVID-19 testing site in Lowell, the first of its kind in the state. Craig F. Walker | The Boston Globe via Getty
With most Americans under stay-at-home orders due to the coronavirus outbreak, the roads are quieter – and safer – than usual. So why should you keep paying your regular auto insurance premium? Many insurers have a perhaps surprising answer to that question: You shouldn’t. Allstate announced this week that it would slash April and May’s
Photo by Ariel Skelley via Getty Images Markets have been a roller coaster ride in the weeks since the coronavirus pandemic reached the U.S. Most of the country’s financial advisors think we haven’t hit bottom yet, a survey finds. Despite periodic rallies — like Monday’s more than 7% rise of both the Dow Jones and
Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during a Coronavirus Task Force news conference in the briefing room of the White House in Washington, D.C., U.S., on Tuesday, March 17, 2020. Kevin Dietsch | Bloomberg | Getty Images Banks are scrambling to process a growing backlog of applications for the
Wells Fargo Securities’ Chris Harvey believes the worst is behind the market — even as Wall Street braces for a painful earnings season. According to the firm’s head of equity strategy, the steps taken by the Federal Reserve and Capitol Hill to stabilize the coronavirus-battered markets are creating a pivotal floor under stocks. “Although the