Pedestrians walk past an american multinational investment bank and financial services holding company JPMorgan Chase Bank branch. Alex Tsai | SOPA Images | Getty Images JPMorgan Chase said it was giving bank tellers and other “front-line employees” a one-time bonus of up to $1,000 to help cushion the difficulties of working during the coronavirus pandemic.
Month: March 2020
CNBC’s Jim Cramer said Friday he fears that the coronavirus-driven halt in the economy could leave the U.S. with only three retailers after the crisis ends. “If we come out of this sooner, then other, small businesses can open. If we come out of this later, there are going to be three retailers in this country,”
Daniel Harison, a barista at Velvette Brew, a coffee shop in Park Slope, Brooklyn. Greg Iacurci A palpable chill had settled over Park Slope on an otherwise beautiful Monday evening. The brownstone-lined streets of this South Brooklyn enclave, typically abuzz with commuters at peak rush hour, were near empty. Stores of all kinds — from
Small businesses are switching up their models in a fight to survive during the coronavirus crisis — some in unexpected ways. Businesses including condom-makers, gin producers and food manufacturers are seeing consumers react in different ways as they self-isolate or reduce social contact. Small businesses generate 44% of U.S. economic activity, and around half of
In a move that would have been unthinkable just months ago, quarantine and social distancing have now become commonplace globally as governments make concerted efforts to fight the spiraling coronavirus outbreak. The measures, which have seen citizens from the U.S. to India either encouraged or enforced to stay in their homes, are deemed by medical
Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski | AFP | Getty Images
Sen. John Thune (R-SD) Aaron P. Bernstein | Reuters Sen. John Thune, R-S.D., has proposed giving taxpayers until July 15 to submit their 2019 income tax returns – 90 days from the original April 15 due date. The Tax Filing Relief for America Act, which Senators Steve Daines, R-Mont., and Angus King, I-Maine, are joining
U.S. President Donald Trump speaks as Vice President Mike Pence looks on during a news briefing on the latest development of the coronavirus outbreak in the U.S. at the James Brady Press Briefing Room at the White House March 18, 2020 in Washington, DC. Alex Wong | Getty Images The COVID-19 pandemic is a matter
Passengers wear face masks to protect against the COVID-19 (Coronavirus) after arriving at the LAX airport in Los Angeles, California on March 5, 2020. Mark Ralston | AFP | Getty Images California estimates that more than half of the state — 25.5 million people — will get the new coronavirus over the next eight weeks, according to
Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City. Spencer Platt | Getty Images Check out the companies making headlines after the bell. Crowdstrike — The cybersecurity company’s stock soared 19% in extended trading after the company posted fourth-quarter revenue that exceeded analysts’ expectations. Crowdstrike
Copper prices have crashed in recent days amid growing panic over the impact of the coronavirus, and the metal’s reputation as a barometer for the global economy means analysts are looking to see if it has further to fall. On Thursday, copper prices hit their lowest level since January 2016, with three-month copper futures on
If you have cash parked in a money market fund that invests in non-U.S. Treasury debt, the Federal Reserve says it’s got your back. Late Wednesday, the Fed announced a new program that will make loans to financial institutions that buy shares in “prime” money market mutual funds, whose investments include corporate bonds. It’s the
Disney character Mickey Mouse is seen above the entrance at Disneyland Paris during the 25th anniversary of the park, in Marne-la-Vallee, near Paris, France. Benoit Tessier | Reuters Disney is warning investors that the coronavirus pandemic has affected so many of its business segments that it’s becoming more challenging for the company to estimate its
A take-out order from a Darden Restaurants Inc. Olive Garden. Daniel Acker | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. The company also withdrew its fiscal 2020 outlook and suspended its quarterly dividend, citing the uncertainty it faces as states mandate the closure of dining rooms due the coronavirus
Traders work on the floor of the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images Some investors are taking a counter-intuitive approach when looking for a bottom in stocks amid this historic sell-off: They are waiting for the coronavirus headlines to get much scarier before buying. Under normal market dynamics, investors and
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Thursday that whatever happens on the other side of the coronavirus crisis CEOs should not benefit more than their employees. “I like anything that protects the works,” Cramer said on “Squawk on the Street.” “We can not have the fat cats make money at the
A person wears a face mask as a precaution against coronavirus in New York, on March 2, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Walmart shares are emerging as a winner during the chaotic coronavirus crisis. The big box retailer, a classic defensive consumer staple stock, is benefiting from the millions of Americans
Even before the spread of COVID-19 brought the U.S. economy to a near standstill, Americans were taking on increasing amounts of debt. Now, around 67 million Americans said they will have trouble paying their credit card bills due to the outbreak and its aftermath, according to a new Coronavirus Money Survey by personal finance site WalletHub.
GM CEO and Chairman Mary Barra and LG Chem Vice Chairman and CEO Hak-Cheol Shin at the automaker’s battery lab in Warren, Mich., where the companies announced a new $2.6-billion joint venture on Dec. 5, 2019. GM General Motors is studying whether it can use its auto factories to ”support production” of ventilators and other medical
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