A man checks a mainboard at an assembly line to produce ventilators amid the spread of the coronavirus disease (COVID-19) at Vsmart factorty of Vingroup outside Hanoi, Vietnam August 3, 2020. Kham | Reuters The World Health Organization said Monday there may never be a magical cure for the coronavirus even as scientists and drugmakers
Month: August 2020
U.S. President Donald Trump delivers a speech during a tour of the Double Eagle Energy Oil Rig in Midland, Texas, July 29, 2020. Carlos Barria | Reuters Both parties are now working to come to a consensus on issues where they are divided, particularly unemployment insurance. The extra $600 per week in federal unemployment benefits
Throughout the Covid-19 crisis, White House coronavirus advisor Dr. Anthony Fauci has become a household name and the unofficial face of fighting the pandemic. And now he has his own trading card. The president of the National Institute of Allergy and Infectious Diseases threw the first ceremonial pitch for Major League Baseball’s 2020 season on
Chinese President Xi Jinping (R) waves to the press as he walks with US President Donald Trump at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017. Jim Watson | AFP | Getty Images Both the U.S. and China have to “step up to the plate” and provide global leadership at a time
Amazon reported blowout second-quarter results on Thursday, including a huge beat on the top line and double-digit revenue growth year-over-year, helped by surging sales amid the coronavirus pandemic. The stock climbed about 5.3% after hours. Here’s how the company did: Earnings: $10.30 per share vs. $1.46 expected, according to analysts surveyed by Refinitiv Revenue: $88.91 billion vs. $81.56
Fifth Avenue is empty of traffic as people remain at home to stop the spread of the Coronavirus pandemic on March 31, 2020 in New York City. Noam Galai | Getty Images High-end handbag maker Valentino is suing to get out of its lease on Fifth Avenue in Manhattan, a vacated Barneys New York still
For millions of students with disabilities and special needs in U.S. public and private schools, the shift to remote learning has created an even greater host of challenges — and, in some cases, additional financial pressures for their families. Special needs students require varied educational and support services. In this coronavirus pandemic, many families are
Getty Images The majority of companies have now reported their earnings, revealing the winners and losers from the ongoing coronavirus pandemic. Although many companies failed to meet analyst expectations, there are some notable exceptions. And with these fresh insights, analysts are reviewing their short-term and long-term take on the stocks they cover. In this unprecedented
cdwheatley | E+ | Getty Images Millions of Americans have altered their travel plans amid the pandemic, with some switching to road trips this summer and others postponing long-haul air and sea travel till next year or beyond. But one demographic — the affluent vacationer — appears to be more optimistic, making plans and holding
A Monzo debit card being used at a payment terminal. Monzo British digital bank Monzo said Thursday that its annual losses more than doubled and warned its ability to continue operating had become more uncertain due to the coronavirus pandemic. The start-up reported an annual post-tax loss of £113.8 million ($149.5 million) in its 2020
Fiat Chrysler Automobiles assembly workers produce protective masks, amid the spread of the coronavirus disease (COVID-19), at the Assembly Plant in Betim near Belo Horizonte, Brazil, May 20, 2020. Washington Alves | Reuters Fiat Chrysler said Friday it lost $1.24 billion (1.05 billion euros) in the second quarter as the coronavirus caused rolling shutdowns at its
A United Airlines plane sits on the tarmac at San Francisco International Airport. Justin Sullivan | Getty Images United Airlines on Friday said it plans to add a small amount of flights in September, staying cautious as the coronavirus pandemic continues to depress travel demand. The Chicago-based airline’s September capacity will be 37% of year-ago levels and
Couple buying a new house. PeopleImages | Getty Images A Roth individual retirement account is often cited as a way to save for your golden years. It could also help you buy a house. In a nutshell, up to $10,000 in earnings can be withdrawn from such an account — free of both taxes and
The coronavirus pandemic has highlighted the need for emergency preparedness, including with your money. Half of U.S. households lost income due to the economic fallout of the coronavirus pandemic, according to a recent Bankrate survey of over 3,700 Americans conducted in June. That’s why it’s critical to have an emergency financial aid kit, said Winne Sun, managing
Chevron reported an $8.3 billion loss in the second quarter as the coronavirus pandemic “significantly reduced demand.” Amid a historic drop in oil prices, the company’s average price per barrel of oil and natural gas liquids dropped more than 60% year-over-year. The oil giant lost $1.59 per share on an adjusted basis, while revenue came
A nurse holds up a one dose bottle and a prepared syringe of measles, mumps and rubella virus vaccine made by Merck at the Utah County Health Department in Provo, Utah. George Frey | Getty Images Pharmaceutical giant Merck on Friday beat Wall Street expectations in the second quarter and raised its overall earnings guidance for the
Under Armour’s stores are opening back up across the county after being forced shut due to the Covid-19 crisis, but shoppers aren’t showing up like they used to, according to the retailer’s CEO. “The consumer is there, but they are still nowhere near pre-Covid levels … there is hesitancy there,” Under Armour Chief Executive Patrik Frisk
Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims. John Sommers II Individuals receiving unemployment benefits this year could face a tax surprise in 2021: owing Uncle Sam or receiving smaller refunds. Some 1.43 million people filed for unemployment last week, according to the
Jamie Dimon, chairman and CEO of JPMorgan Chase & Co., spearheads the nation’s largest bank – serving almost half of U.S. households with $3.2 trillion in assets and managing over 250,000 employees across the world. And like many successful executives – from Amazon CEO Jeff Bezos to Tesla and SpaceX CEO Elon Musk – Dimon starts his day with a routine. After
Protesters gather at a July 22 rally in Boston in support of legislation to block evictions in Massachusetts for up to a year. Boston Globe | Boston Globe | Getty Images If you’re facing eviction during the pandemic, you’re definitely not alone. Up to 40 million Americans may lose their homes in this downturn, four times the
Caterpillar Inc. excavators are displayed for sale at the Whayne Supply Co. dealership in Louisville, Kentucky, U.S., on Monday, Jan. 27, 2020. Luke Sharrett | Bloomberg | Getty Images Industrial machinery manufacturer Caterpillar said Friday that cost reduction and prioritized spending helped it offset a $1.4 billion decline in dealer inventories during the second quarter and
White House coronavirus advisor Dr. Anthony Fauci said Friday the coronavirus is so contagious it won’t likely ever completely go away, contradicting statements made by President Donald Trump who has repeatedly said Covid-19 will eventually vanish. “I do not believe it would disappear because it’s such a highly transmissible virus,” Fauci, director of the National Institute
Arizona Sen. John McCain has been diagnosed with brain cancer. McCain is best known for his presidential bid against President Obama in 2008. During the election, McCain and Obama clashed on healthcare reform, the financial crisis, and foreign policy, but both candidates also showed mutual respect for each other. In one instance, McCain defended Obama
Senate Majority Leader Mitch McConnell, R- Ky., walks to the Senate floor at the U.S. Capitol on Thursday, July 30. Democrats and Republicans have given no ground after three days of negotiations on a virus relief package as enhanced unemployment insurance for millions of out-of-work Americans and protections from evictions run out. Al Drago/Bloomberg via
Warren Buffett, chairman and CEO of Berkshire Hathaway David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway this week again added to his already-enormous stake in Bank of America at a time when the coronavirus pandemic dampens the economic outlook and interest rates hold near record lows. A Securities and Exchange Commission filing showed Buffett’s
In the $1 trillion stimulus proposal released by Senate Republicans on Monday — the Health, Economic Assistance, Liability Protection and Schools, or HEALS, Act — the $600 per week unemployment boost of the CARES Act, which expires Friday, would decrease to $200 per week. That’s because Republican leaders have largely said the extra $600 a week discourages people from returning to
The U.S. economy will face great risk if lawmakers do not step up and stave off a looming, far-reaching eviction crisis, an economist with mortgage aggregator LendingTree told CNBC on Friday. With eviction moratoriums lifting across the country, landlords could eventually default on mortgages and the coronavirus pandemic could worsen in the country if tens
Take a look at some of the biggest movers in the premarket: Caterpillar (CAT) – The heavy equipment maker reported quarterly earnings of $1.03 per share, beating the 64 cents a share consensus estimate. Revenue also topped forecasts. The beat came even as sales tumbled from a year ago due to a pandemic-related slump in
Dado Ruvic | Reuters With chronic asthma, food allergies and a heart condition, Thomas Silvera does everything he can to safeguard his health, including getting vaccines. So if and when a Covid-19 vaccine becomes available, he said he’s leaning toward getting that, too. But before vaccines reach the market, they go through wide-scale testing for