The stock market is doing pretty well amid the coronavirus recession. You probably won’t benefit. MicroStockHub The stock market has proved freakishly immune to the economic suffering inflicted by the coronavirus pandemic, posting some of its largest gains in history even as members in 1 in 2 American households have lost income. Yet the fact that the market
Month: June 2020
Jeffrey Ubben Source: BusinessWire Company: Enviva Partners LP (EVA) Business: Enviva is a supplier of utility-grade wood pellets to power generators. The company procures wood fiber and processes it into utility-grade wood pellets and loads the finished wood pellets into railcars, trucks and barges that are transported to deep-water marine terminals, where they are received, stored
When Kevin O’Leary was fired from his first job at an ice cream shop as a teenager, he realized he wanted to be his boss. “I made up my mind that day…. And I’ve never worked for anybody ever since,” he previously told CNBC Make It. And on CNBC’s new webisode series “Got a Money Dispute? Ask Kevin,” O’Leary gave
A trader at the New York Stock Exchange (NYSE) at Wall Street in New York City. JOHANNES EISELE | AFP via Getty Images The Federal Reserve’s economic outlook isn’t so much pessimistic as it is uncertain, with expectations running a wide gamut from a plodding recovery to a sharp rebound. If that sounds a lot
As many U.S. states continue to lift coronavirus lockdown restrictions, some are pausing their reopenings in the face of worrisome data around new cases and hospitalizations. States like Texas, Arizona and Arkansas have seen a surge in infections, calling into question aggressive reopening strategies. Officials at the Centers for Disease Control and Prevention said Friday
June 11 — Bloomberg’s Emily Chang sits down with investor Chris Sacca on “Studio 1.0” to talk about his time working at Google and with Senior Vice President Sundar Pichai, airing tonight at 7:30 p.m. ET/PT.
Image Source | Getty Images Many Americans are at risk of not receiving their $1,200 stimulus checks. Now, research estimates that as many as 12 million people could go without the payments due to them. That’s according to the Center on Budget and Policy Priorities, a non-partisan research and policy institute. The center based its
A trader walks by the New York Stock Exchange (NYSE) on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City. Spencer Platt | Getty Images Traders baffled by the unprecedented market whipsaw are scrambling to buy protection against more rough sledding ahead.
In 1981, 26-year-old Bill Gates found the time to create one of the world’s earliest computer games. Called Donkey.bas, or just “Donkey,” it was essentially an old-school arcade driving game where players steered a digital racecar down a straight highway littered with, well, donkeys. The point of the game, simply, was to avoid crashing into the
Matt Marfoglia, a waiter at the Tasting Kitchen in Los Angeles, was furloughed in March. Enhanced unemployment benefits are helping him make ends meet financially, but they may end after July. Matt Marfoglia Matt Marfoglia was living paycheck to paycheck before the coronavirus pandemic. Now, while unemployed, he’s barely scraping by. The 51-year-old was furloughed
Somerville’s Division St., a usually bustling pedestrian street, pictured from Main Street. In the front of the image is a sign for Somerville’s weekly cruise nights, which are “on hiatus due to Covid-19.” June 9, 2020. Will Feuer Somerville, New Jersey has enjoyed a rising tide in recent years. Main Street is usually bustling, drawing
It won’t be long before that blissful reprieve from having to worry about filing taxes comes to a close — July 15 is Tax Day. While the process may be a headache, it doesn’t necessarily have to come with a cost, as well. If you haven’t yet filed your return, it’s worth checking to see
A man looks at an electronic quotation board displaying stock prices of the Tokyo Stock Exchange in Tokyo on May 26, 2020. KAZUHIRO NOGI | AFP via Getty Images After reaping profits during the market’s rebound, some Robinhood traders are getting squeezed as the Dow violently reverses its winning ways with a 1,600-point plunge. The
As the coronavirus pandemic shut down the economy and put millions out of work this spring, national hunger relief organization Feeding America was squeezed from all sides: demand for food shot up while donations dwindled and delivery channels were choked off virtually overnight. But its CEO, Claire Babineaux-Fontenot, knew the organization would find a way
Private equity firm KKR’s co-chief executive officer and co-founder, Henry Kravis, said 80% of companies that it controls now have at least two board directors with diverse backgrounds. The firm set out to reach that threshold a few years ago and accomplished that in the first quarter of 2020, Kravis told CNBC’s Seema Mody on “The Exchange.”
At Chris Purcell’s Firehouse Subs location in Elizabeth City, North Carolina, things aren’t quite business as usual. After suffering sales drops of as much as 60% during the height of the coronavirus pandemic, customers are starting to return. Now it’s all about making them comfortable and keeping employees and patrons alike safe in his store,
JGI/Jamie Grill Chances are that the IRS has a check with your name on it — and you still haven’t picked it up. Taxpayers have about a month to file their 2019 income tax returns and pay any taxes owed to Uncle Sam. July 15 became the new Tax Day after the Treasury Department moved
CNBC’s Jim Cramer said Friday that professionals on Wall Street are taking advantage of amateur investors by bidding up beat-up but popular stocks like airlines in premarket trading. “It’s a game. If it weren’t securities, let’s say it was monopoly, let’s say it’s Draft Kings … it would be so much fun,” Cramer said on “Squawk
Many of the world’s greatest travel destinations are reopening to international travelers this summer. But not all openings are created equal. A handful of countries are letting in everyone, while others are inviting only a select few. Here is a definitive guide to the countries that are now welcoming travelers — or have indicated they
Sandy Weill, former CEO of Citigroup. Adam Jeffery | CNBC Sandy Weill, the former Citigroup CEO and chairman who helped create the megabank model in the 1990s, said Friday that Morgan Stanley and Charles Schwab were “really very good buys.” Bank stocks have been hammered this week, giving back recent gains tied to the reopening
A deliveryman is seen passing by a closed Taco Bell restaurant during the 45th day of state of alarm on April 28, 2020 in Barcelona, Spain. David Zorrakino | Europa Press News | Getty Images As the coronavirus pandemic upends consumers’ normal routines, Taco Bell is losing critical breakfast and late-night sales. Parent company Yum Brands said Tuesday
People visit Clearwater Beach after Governor Ron DeSantis opened the beaches at 7am on May 04, 2020 in Clearwater, Florida. Mike Ehrmann | Getty Images The rise in coronavirus cases seen in about half a dozen states across the U.S. isn’t the feared “second wave” — it’s still the first, scientists and infectious disease specialists
Lululemon reported a fiscal first-quarter sales decline of 17%, as its strong digital business wasn’t enough to offset the losses from its stores being temporarily shut due to the coronavirus pandemic. The yoga pants and sports bra maker also suffered from the other shops that it sells in being shut, it said. Still, as more people
People walk past the Calvin Klein store at the Woodbury Common Premium Outlets Mall on October 21, 2017 in Central Valley, NY. Gary Hershorn | Getty Images Check out the companies making headlines after the bell. Adobe — The software company’s stock rose 4% in extended trading after Adobe ptovided its second-quarter earnings. Adobe reported
An employee wearing a protective mask prepares cut flowers at a wholesale flower market in San Francisco, California, on Monday, May 18, 2020. David Paul Morris | Bloomberg via Getty Images The economy is uncertain for small businesses, yet many of them are still taking their time securing emergency funding through the Paycheck Protection Program.
A medical worker wearing a mask walks past a housing leasing office amid the coronavirus pandemic on May 14, 2020 in New York City. Alexi Rosenfeld | Getty Images Manhattan had its worst May in a decade for new rental leases, as residents leave the city and the real estate industry remains on lockdown, according
Dan Gilbert, CEO, Quicken Loans Anjali Sundaram | CNBC Quicken Loans, the largest mortgage lender in America, is planning an initial public offering, according to people familiar with the matter. The company, founded and owned by Detroit-billionaire Dan Gilbert, has filed its IPO prospectus confidentially, the people said, and may flip it to be public
Confirmed coronavirus cases in the U.S. topped two million as the virus begins to spread more rapidly in some states that aggressively reopened such as Texas, Arizona, North Carolina and others. While health officials expected cases to rise as states reopened, the focus now is on ensuring that surges don’t boil over into uncontrolled outbreaks.
Michael Duva Lawmakers are at loggerheads over an extension of enhanced unemployment benefits being paid to millions of out-of-work Americans. Congressional Democrats want to continue the extra $600 weekly jobless payments that began when the CARES Act was enacted in March, calling them a financial lifeline that has helped families pay rent and put food
Residents of Fayetteville, Arkansas, wait in line to file for unemployment on April 6, 2020. Nick Oxford | Reuters The coronavirus pandemic prompted Congress to rush out emergency legislation to help Americans facing new financial challenges. But there’s a growing group of citizens opposed to one aspect of the federal aid effort — and some
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