A customer uses a JPMorgan Chase & Co. automatic teller machine (ATM) outside a bank branch in Miami, Florida, on Thursday, Jan. 5, 2017. Scott McIntyre | Bloomberg | Getty Images JPMorgan is building its credit reserves in anticipation that people might not be able to pay their bills, especially for credit cards. The bank’s
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Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase posted record trading revenue amid the surge in volatility in the first quarter. The bank posted quarterly per share earnings of 78 cents, a figure that missed analyst’s estimates as the bank added $6.8 billion to loan
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson shares rose by more than 3% Tuesday in premarket trading after the U.S. drugmaker raised its quarterly dividend even as it cut full-year earnings guidance due to the coronavirus outbreak. J&J raised its dividend from 95 cents a
Getty Images If you’d planned on making a payment to the IRS on April 15 and now want to reschedule due to the coronavirus pandemic, you’re running out of time. In March, the IRS and Treasury Department announced it would give taxpayers until July 15 to file their 2019 income tax returns and make any necessary payments.
JPMorgan kicks off earnings season on Tuesday. The bad news: Short-term guidance will be very ugly. But there’s some good news: 1) The Securities and Exchange Commission has told corporations that this earnings season is not routine and has encouraged companies to provide forward-looking guidance, and not be concerned that the information may change rapidly.
U.S. President Donald Trump speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Friday, April 10, 2020. Kevin Dietsch | Bloomberg | Getty Images White House health expert Dr. Anthony Fauci on Monday walked back his recent comments about the initial U.S. response to the coronavirus, saying
The Roku 3 television streaming player menu is shown on a television in Los Angeles, California, U.S., on Thursday, Sept. 12, 2013. Patrick T. Fallon | Bloomberg via Getty Images Check out the companies making headlines after the bell. Roku Inc — The television streaming platform’s stock soared 9% in extended trading after the company estimated
Jim Hackett of Ford Motor speaks at an event during the 2018 North American International Auto Show (NAIAS) in Detroit, Michigan, U.S., on Jan. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Ford Motor shares dropped by about 3% after the automaker warned of a 15.7% drop in first-quarter revenue as the coronavirus depresses sales
Federal health officials have granted an emergency use authorization for a coronavirus test relying on saliva samples that was developed by a Rutgers University-backed entity, the New Jersey college announced Monday. The newly authorized test, which require a person with coronavirus symptoms to spit into a cup, could increase by up to 10,000 tests per
Jetta Productions | Iconica | Getty Images As the economy craters, small businesses are among the hardest hit. When unemployment claims began to jump nationwide in March, layoffs among small business spiked 1,021% compared to the month before, according to exclusive data compiled by human resource provider Gusto, based on more than 100,000 small businesses nationwide.
A pedestrian walks past a branch of ICICI Bank Ltd. in Mumbai, India, on Saturday, Oct. 19, 2013. Dhiraj Singh | Bloomberg via Getty Images Big bank stocks in India are falling like nine pins. Some investors believe that the gloominess might be overdone. Shares of private sector banks have had a wretched run of
India was already under pressure from a variety of financial and credit stresses going into the coronavirus shock; now the difficulties to implement lock-down measures will slow down the containment of the virus, which is the necessity for a market and currency recovery, says Ray Farris from Credit Suisse. 03:12 12 minutes ago
Silhouette of Permian Basin pumpjacks taken at dusk, north of Midland, Texas, U.S. in late 2019. Richard Eden | via Getty Images Oil prices moved lower in overnight trading after OPEC and its allies agreed to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that
File photo of an almost-empty passenger plane. Laurel Chor | Getty Images The country’s largest airlines will have to compensate taxpayers for billions in payroll grants to weather coronavirus, the Treasury Department said Friday, leaving the door open to an aid structure that sparked criticism from labor unions, some lawmakers and industry members. The Treasury
Unemployment applications are seen as City of Hialeah employees hand them out to people in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. (Photo by Joe Raedle/Getty Images) Joe Raedle Americans are applying for unemployment in record numbers as the coronavirus pandemic has effectively shuttered much of the U.S.
Brandon Colbert Photography As markets careen in response to a near-unprecedented public health crisis that’s brought the U.S. economy to it knees, financial advisors are often the first place worried investors are turning — perhaps after favorite news outlets — for advice, information and solace. While calming clients and working with them to shore up
Neel Kashkari, president of the Minneapolis Federal Reserve, in an interview on February 17, 2016. David Orrell | CNBC Minneapolis Federal Reserve President Neel Kashkari said Sunday he expects the path to economic recovery from the coronavirus pandemic will be a “long, hard road,” pouring cold water on hopes for a “V-shaped” rebound. Kashkari, who
OPEC and its oil producing allies on Sunday finalized a historic agreement to cut production by 9.7 million barrels per day, following multiple days of discussions and back-and-forth between the world’s largest energy producers. Sunday’s emergency meeting — the second in four days — came as oil-producing nations scrambled to reach an agreement in an
Restaurants in the U.S. are reeling from city- and statewide coronavirus initiatives that shut down many dining rooms essentially overnight. As Americans stay inside and refrain from going out to eat, small and independently owned restaurants are facing massive uncertainty. The National Restaurant Association estimates that 3 million industry employees have already lost their jobs,
A new government tool to file for coronavirus stimulus checks is here, and that’s good news for some Social Security recipients. The government is urging certain individuals to apply using that tool now to make sure they receive timely payments and the full amounts for which they are eligible. This week, the Treasury Department and
A pronounced economic slump sparked by the coronavirus outbreak has imperiled a popular investment strategy: buying dividend stocks. These stocks have traditionally been highly coveted during periods of market turbulence because they provide shareholders a dividend or a guaranteed return, typically paid out annually out of the company’s profits or reserves. That investment approach is
“When we got the order we were non-essential, that was the day we cleared house,” said Suzanna Cameron, 30, the owner of Stems, a flower shop in Brooklyn, New York. After her store was forced to close in response to the coronavirus pandemic, the single mom said she tried to pivot with virtual flower arranging
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
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.