A man cleans up on the trading floor, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020. Lucas Jackson | Reuters The coronavirus pandemic has roiled capital markets, but it has also led to something that was once unthinkable on Wall Street:
Month: April 2020
Emanuel Simhayev, owner and pharmacist at Get Well Rx in Astoria, Queens, consults with a customer purchasing face masks. April 2, 2020 Emanuel Simhayev’s small pharmacy is short-staffed these days. Most of his employees, worried about getting exposed to the coronavirus, are no longer coming to work. Simhayev, 33, and his technician Evelyn Quirindongo, 53,
In times of market downturns, many of the stocks that take a beating will eventually rebound. Others, not so much. For investors who have a big portion of their assets in one particular stock, the current drubbing may serve as a reminder that diversification matters. It might also be time to make sure you still
The stock market could still touch new lows as uncertainty around the coronavirus pandemic persists, Mohamed El-Erian said Friday. “I don’t think we’re forming a bottom yet. I think we’re going down at a slower rate,” the chief economic advisor at Allianz said on CNBC’s “Squawk Box.” “There is a very important distinction there.” Calling a
Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department changed the terms on some loans it’s offering to small businesses during the coronavirus pandemic, making them less favorable
American Airlines passenger planes crowd a runway where they are parked due to flight reductions to slow the spread of coronavirus disease (COVID-19), at Tulsa International Airport in Tulsa, Oklahoma, U.S. March 23, 2020. Nick Oxford | REUTERS U.S. airline executives face a test to see which sacrifices they are willing to make in exchange
As millions of jobs are lost to the coronavirus pandemic, almost half of low-income Americans say they expect to burn through their savings within three months, according to a survey released Thursday. The government’s monthly employment numbers for March, due to be released Friday, are expected to show an unprecedented surge in layoffs by businesses
A barista packs a coffee for online sales at a Luckin Coffee store in Beijing, China July 17, 2018. Jason Lee | Reuters Here we go again. It sounds outrageous: The chief operating officer of Luckin Coffee, the largest domestic coffee chain in the China, was accused by his own company of fabricating much of
U.S. government debt prices were higher Friday as the total number of global coronavirus cases surpassed 1 million. The yield on the benchmark 10-year Treasury note sank to 0.601% while the yield on the 30-year Treasury bond was also lower at 1.239%. Bond yields move inversely to prices. The number of confirmed COVID-19 cases worldwide
Cyclists pass the boarded up Smith & Wollesnky restaurant as they exercise in South Pointe Park on March 18, 2020 in Miami Beach, Florida. Cliff Hawkins | Getty Images Miami mayor Francis Suarez asked President Trump in a letter on Thursday to suspend flights to Miami International Airport from COVID-19 hotspots. “As Mayor of the
A customer pays with cash at a Best Buy store in Texas, United States, on November 26, 2010. Aaron M. Sprecher | Bloomberg | Getty Images If you’re counting the days until you receive your stimulus money from the government, hold tight: It could take up to five months. A House Ways and Means Committee
This is breaking news. Please check back for updates. Short seller Jim Chanos warned investors about piling into “virus stocks” boosted by the coronavirus lockdown temporarily. “One area I would warn people about for example is the virus stocks,” Chanos said on Thursday on CNBC’s Halftime Report. They are “doing well right now in this enforced lockdown.
As small business owners await a much-needed lifeline Friday in the form of a massive expansion of the Small Business Administration’s 7(a) lending program, new data show just how dire the situation is for Main Street as questions circulate about the program’s readiness. The National Federation of Independent Business’ Research Center is out with a
A pedestrian passes in front of a Walgreens Boots Alliance Inc. store in the Hollywood neighborhood of Los Angeles, California. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance beat Wall Street earnings expectations Thursday, sending shares up about 3% in early trading. Here’s what Walgreens reported for its fiscal second quarter of 2020 compared
WASHINGTON — The Pentagon reported the largest one-day jump in coronavirus cases within the Department of Defense on Thursday. The Pentagon reported a total of 1,638 cases within the Department of Defense on Thursday, an increase of 233 cases overnight. Of the 1,638 cases, 953 are active-duty military, 319 are civilians, 269 dependents and 97 contractors.
Sephora has a massive following and was named retailer of the year at the 2018 World Retail Congress. Members of their rewards program have spent upwards of $35,000 to redeem on exclusive members-only trips. The store offers unique technology, Color IQ, to identify specific foundation shades to match customers to products. MORE SNEAKY DEALS CONTENT:
Read more at https://valueofknowledge.ft.com/ Singapore’s students consistently come top in international rankings, but the city state’s didactic teaching style does not always equip pupils with the skills they will need for the workplace of the future. The government is introducing reforms to align classroom with the needs of employers – adopting aspects of the Swiss
Sept. 15 (Bloomberg) –- Alibaba’s IPO could be the biggest in history. Bloomberg’s Sam Grobart explains how Alibaba works through the experience of ordering 280 pairs of pants manufactured overseas. Video by: Dan Przygoda, David Yim (Source: Bloomberg) — Subscribe to Bloomberg on YouTube: http://www.youtube.com/Bloomberg Bloomberg Television offers extensive coverage and analysis of international business
Even though the company was bleeding money, laden with debt and staring down a potential bankruptcy, becoming chief executive of chip maker Advanced Micro Devices was a dream job for Lisa Su. “When you grow up as a tech person — and I spent my career in semiconductors — there aren’t that many large US
shot of social security card Kameleon007 People who receive Social Security benefits and who do not submit tax returns will not have to file in order to get a government stimulus check. The announcement by the Treasury Department and Internal Revenue Service on Wednesday night reverses earlier guidance that said those people would have to
Analysts have warned that falling oil prices will lead to a wave of consolidation or bankruptcies in the U.S. energy sector, and the Street got its first taste of what could be to come when U.S. shale producer Whiting Petroleum filed for bankruptcy on Wednesday. “The oil patch is falling apart … This is the other
This photo taken on March 23, 2020 shows employees eating during lunch break at an auto plant of Dongfeng Honda in Wuhan in China’s central Hubei province. STR | AFP | China As the second quarter begins in China, it’s an altered landscape in the coronavirus-stricken economy with businesses that remain shut — some for good.
An American Airlines flight attendant serves drinks to passengers after departing Dallas/Fort Worth International Airport. Robert Alexander | Archive Photos | Getty Images Flight attendant unions warned Wednesday that government stakes in airlines in exchange for payroll protections could render the coronavirus aid unattractive and cost thousands of jobs. Congress last week approved $32 billion
NoDerog | iStock | Getty Images There may be a catch for individuals who typically don’t file a tax return but are expecting to receive a stimulus check. They may have to send a return to the government in order to get paid. New guidance was released on Monday by the IRS, which said there
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. Lucas Jackson | REUTERS Heading into earnings season, investors should expect delayed reports, withdrawn forecasts and confusing results from U.S. businesses grappling with the coronavirus shutdown. There is a general consensus that company earnings are going
Wilmington Trust’s Meghan Shue warns two grim quarters are ahead — not just one. The firm’s head of investment strategy believes market losses will continue to pile up amid negative coronavirus data and headlines. “GDP in the second quarter could be anywhere from negative 15% to negative 30%. That is a huge range which just
A luxury sports car sits on display in a dealership in Manhattan on November 30, 2017 in New York City. Spencer Platt | Getty Images The coronavirus, led by stay-at-home regulations, brought U.S. vehicle sales to a grinding halt in many areas of the country and the worst is still yet to come, according to
Read more at https://on.ft.com/2CVuOvh The FT’s Kana Inagaki explains how Carlos Ghosn went from the head of three of the world’s largest car makers to a Tokyo jail Subscribe to FT.com here: http://bit.ly/2GakujT Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs For more video content from the Financial Times, visit http://www.FT.com/video Twitter https://twitter.com/ftvideo Facebook https://www.facebook.com/financialtimes
Former CME trader Ryan Carlson explains some of the hand signals used on the floor.
Don’t be surprised if your employer pauses its contributions to your 401(k) plan during the U.S. economic downturn. As the coronavirus pandemic wallops the economy, and businesses deal with dropping revenue and limited cash flow, employers are exploring how to trim their obligations to those plans without violating federal regulations. Companies commonly give to worker’s