Lillian Johnson, 77, pictured outside her East Meadow, New York, nursing home. Because of Covid-19 restrictions, her son was unable to visit her for two months. Lamont Johnson Lamont Johnson lives just about two miles from his mother’s nursing home in Long Island, New York. He has not been able to visit her for about
Month: May 2020
Americans love gift cards. And the U.S. is the world’s biggest market — by a long shot. The plastic cash substitute has been the most popular holiday item on shoppers’ lists for 13 years in a row. In 2019 alone, U.S. consumers loaded up on gift cards from brands like Starbucks, Amazon and Home Depot
CNBC’s Jim Cramer said Tuesday that large retailers in the U.S. such as Walmart benefited from the coronavirus-related restrictions on businesses, contending this week’s earnings reports will reflect the top-heavy nature of the economy. “It looks like the big guys won. You have them basically cordoned off as essential services. So many other companies, little companies, medium,
The U.K. government’s treasury building Matthew Lloyd | Bloomberg | Getty Images The U.K. borrowed at a negative interest rate for the first time on Wednesday, amid growing fears of a deep global recession and expectations of further bond buying action from central banks. In an auction Wednesday, the country’s Debt Management Office said it
Heidi Bess, Owner of Candlelight Cottages in Bolton New York, said customers are anxious to get out of their house after being housebound for months. Source: Heidi Bess Memorial Day is the unofficial start of summer but the water parks are dry, amusement parks are shuttered and national parks are only beginning to reopen. For
Investors may want to brace for a tumultuous June. Federated Hermes’ Phil Orlando believes a “cleansing correction” could spark a 10% drop or more within weeks. “You’ve got some investors who are bearish by nature and got sucked into this 36% rally,” the firm’s chief equity market strategist told CNBC’s “Trading Nation” on Thursday. “If the
College graduates will soon be hit with their first student loan bill aywan88 | E+ | Getty Images When Democratic presidential candidates Bernie Sanders and Elizabeth Warren dropped out of the race, it seemed that proposals to tackle student loan debt would go away, too. They haven’t. Between the impact of the coronavirus pandemic and
More than 38 million people have filed for jobless claims since the coronavirus pandemic started. The unexpected loss in income is causing many Americans to tap their retirement savings just to make ends meet. And many people who lost a job — or have a spouse or partner whose income has declined — didn’t have
Customers wait in line at Xiaomi’s flagship store in Mong Kok, Hong Kong. Miguel Candela | SOPA Images | LightRocket | Getty Images Xiaomi reported a 13.6% rise in first-quarter revenue on Wednesday, beating estimates, as the Chinese smartphone maker sold more phones and benefited from sales of its higher-priced 5G models. The company managed
Marc Andreessen, co-founder and general partner of Andreessen Horowitz David Paul Morris | Bloomberg | Getty Images Amid a sharp pullback in venture capital activity during the coronavirus pandemic, one Silicon Valley start-up is showing what could be a path forward for other new companies seeking funding. The business, a payroll platform for remote workers
The Oscar-winning filmmaker spent 20 hours shooting a documentary with the Russian president, and tells the FT’s Matthew Garrahan that the western world has Vladimir Putin all wrong. ► Subscribe to FT.com here: http://bit.ly/2r8RJzM ► 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
Forbici Modern Italian’s temporary outdoor dining tent in Tampa, Florida. Forbici Modern Italian There’s not usually a white 1,800-square-foot tent set up in the street outside Forbici Modern Italian in Tampa, Florida. Then again, few things are as they were before the coronavirus pandemic. Tampa’s Snow Avenue embodies that new world, thanks to a pilot
New York, USA – May 8, 2018: Wall Street sign near New York Stock Exchange with flags of the United States. ymgerman | iStock Editorial | Getty Images This is a live blog. Here’s what’s happening: 7:40 am: Oil drops more than 5% on demand concerns Oil prices moved lower on Friday after China abandoned its
A driver and passenger wearing protective masks exit the ride sharing pickup area in a car displaying Uber Technologies signage at San Francisco International Airport in San Francisco, California, U.S., on Monday, May 4, 2020. Photographer: David Paul Morris/Bloomberg via Getty Images Bloomberg Leonardo Diaz is in a tough spot. Diaz, a driver for Uber
While many dog owners dream of training their dogs to fetch them beer, that’s just what golden retrievers Buddy, 3, and Barley, 1, are doing amid the Covid-19 pandemic. Mark and Karen Heuwetter, co-founders of Six Harbors Brewing Company in Huntington, a coastal town on Long Island, New York, were inspired to bring the dogs
Lowe’s reported same-store sales growth of more than 11% for the first quarter as Americans stayed home and invested in spring-time home improvement projects, but investor excitement fizzled as the company warned sales could “moderate” later in the year. The company benefited in the quarter from the home improvement industry’s busiest time of the year, spring,
Sheraton Grand Sacramento Hotel Source: Sheraton Grand Sacramento Hotel A small firm is looking to make a change at a real estate investment trust, an area typically tough for activism. Company: CIM Commercial Trust Corp. (CMCT) Business: Real estate investment trust that primarily acquires, owns, and operate Class A and office assets in the United States. Stock market
Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, speaks about the coronavirus in the James Brady Press Briefing Room of the White House, Friday, April 17, 2020, in Washington. Alex Brandon | AP It is “conceivable” that the U.S. could begin to roll out a coronavirus vaccine by December, the
Take a look at some of the biggest movers in the premarket: Deere (DE) – The construction equipment maker reported fiscal second-quarter earnings of $2.11 per share, compared to the consensus estimate of $1.62 a share. Revenue beat estimates as well. Deere said it expects global equipment sales to fall 30% to 40% this year
Hispanolistic Over 152 million stimulus checks have been issued to individuals over the last six weeks, according to data from the U.S. Treasury Department and Internal Revenue Service. In all, the agencies have distributed $257.9 billion in Economic Impact Payments. Uncle Sam began depositing the funds into taxpayers’ bank accounts in mid-April. The average payment came
The rise of artificial intelligence will make even software engineers less sought after. That’s because artificial intelligence will soon write its own software, according to Jack Dorsey, the tech billionaire boss of Twitter and Square. And that’s going to put some beginning-level software engineers in a tough spot. “We talk a lot about the self-driving
Visitors browse at the display of Expedia during the International Tourism Trade Fair in Berlin. Fabrizio Bensch | Retuers Expedia reported its first quarter earnings after the bell on Wednesday, continuing to show the financial devastation the coronavirus is having on the travel industry. Shares initially dropped on the report as investors digested the news
Jeff Lawson, CEO, Twilio Scott Mlyn | CNBC An index of cloud stocks developed by venture-capital firm Bessemer Venture Partners reached new highs this week as U.S. indexes still recover from the selloff that began in February. The BVP Nasdaq Emerging Cloud Index, established in 2013, is up about 31% for the year, while the S&P
Kobe Bryant has been one of the most recognizable and top-scoring players in the NBA for 17 years. Even after a devastating Achilles tendon tear in March, he has shattered the timetable for his recovery and is expected back for the upcoming basketball season. The reason that Bryant has managed to stay on top over
US finance editor Robert Armstrong looks at the S&P 500 over five years and asks if a slowing economy, weaker earnings, high valuations, a trade war and Middle East tensions can’t make the market go down – what can? Read more at https://on.ft.com/2Nd5Yx0 ► See if you get the FT for free as a student
Ford started resuming vehicle production in the U.S. on May 18, 2020 with new coronavirus safety protocols such as health assessments, personal protective equipment and facility modifications to increase social distancing. Ford It wasn’t a matter of if but when someone with Covid-19 would unknowingly enter an car factory as tens of thousands of autoworkers
Jen-Hsun Huang, president and chief executive officer of Nvidia Corp., speaks during the company’s event at Mobile World Congress Americas in Los Angeles, California, U.S., on Monday, Oct. 21, 2019. Patrick T. Fallon | Bloomberg | Getty Images Nvidia reported first-quarter earnings after the bell on Wednesday. The stock fell over 1% in after-hours trading
SDI Productions Americans could use a financial boost. How to get that money into people’s hands has been a hot topic of debate. Democrats have proposed expanding unemployment insurance and giving Americans as much as $2,000 per month to get back on their feet. Meanwhile, one Republican proposal has called for giving Americans $11,000 now in
Amazon released its first smartphone, the Fire Phone, in July 2014, and the device was broadly considered a “debacle,” “a fiasco,” “a surprising disappointment.” By September 2015, Amazon stopped selling the Fire Phone. It was the type of high-profile flop that might lead some CEOs to start angrily pointing fingers, but not Jeff Bezos. “You
In a normal year, sports fans would be gearing up for the NBA playoffs at the end of May. This spring, with no live competition, some are searching for thrills in the stock market. U.S. brokerage firms have seen a flood of retail trading activity in recent months. Analysts say a lack of pro sports-betting
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