Junior’s Cheesecake owner Alan Rosen said Tuesday that the money the restaurant company has received through the Treasury Department’s small business loan program is not enough to immediately bring workers off furlough. There is too much uncertainty about when the coronavirus pandemic will subside and when people will be comfortable to “sit shoulder to shoulder in our
Month: April 2020
People need to get back to work — and will likely spend weeks in the office — before they get back in the mall, according to the owner of Hudson Yards in New York. “My guess is we go back to offices first,” Related Companies CEO Jeff Blau told CNBC’s Andrew Ross Sorkin on Tuesday. “I think
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 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
An unpainted Boeing 737 MAX aircraft is seen parked in an aerial photo at Renton Municipal Airport near the Boeing Renton facility in Renton, Washington, U.S. July 1, 2019. Picture taken July 1, 2019. Lindsey Wassen | Reuters Boeing customers canceled a staggering number of 737 Max orders last month, deepening the crisis the company faces
People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, April 6, 2020. Nick Oxford | Reuters JPMorgan Chase just disclosed that rising job losses effectively wiped out most of its profit in the first quarter
Ahmad Alsheikh, 18, was admitted to the Harvard class of 2024. Source: Ahmad Alsheikh For Ahmad Alsheikh, 18, gaining acceptance to Harvard’s Class of 2024 was a lifetime in the making. Alsheikh and his family came to the U.S. from Syria, seeking asylum from that country’s civil war. Yet in starting school as a high school
Getty Images Millennials have been dealt two very bad economic hands during their lifetimes. First, they weathered the 2008 financial crisis brought about by reckless risk-taking in the financial sector. Now, they confront a much more severe economic calamity caused not by Wall Street’s misbehavior but by a malicious virus. Yet in both situations, the
Reported COVID-19 cases around the world approached two million on Monday, doubling in 11 days as World Health Organization officials caution patience before lifting social distancing restrictions. Covid-19 has infected more than 1,918,855 people around the world and killed at least 119,588 people, according to data compiled by Johns Hopkins University. Hopkins’ data previously showed that the cases had passed
Stock futures were little changed in overnight trading on Monday as investors brace for an ugly earnings season with the coronavirus wrecking havoc on global corporate profits. Futures on the Dow Jones Industrial Average rose just 20 points. The S&P 500 and Nasdaq futures were also flat Earnings season is set to kick off on
Hong Kong’s popular nightlife district, Lan Kwai Fong is mostly empty amid the Coronavirus outbreak Uptin Saiidi | CNBC Hong Kong is fighting a “twin battle” — fending off the coronavirus pandemic and trying to save its battered economy at the same time — but the city remains “highly resilient” despite the challenges, its commerce secretary said
Sam Edwards | Getty Images Retiring at 65 was already becoming a fading tradition before Covid-19 sank the world’s economy. Now, that traditional retirement age could fall further by the wayside as workers pick up the pieces once the economy gets going again. A survey from Allianz Life Insurance Company finds that half of Americans
CNBC’s Jim Cramer on Monday criticized the launch of the small business loan program passed by Congress last month, arguing delays are heaping more burden on business owners. “How many weeks do I have to front everybody?” Cramer said on “Squawk on the Street.” Cramer owns two restaurants in Brooklyn. While saying he’s fortunate enough
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
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 Bankoff, chairman and chief executive officer of Vox Media Inc. David Paul Morris | Bloomberg | Getty Images Vox Media, the digital media company that owns SBNation, New York Media, The Verge and other brands, is preparing to announce a furlough of about 100 employees later this week, according to people familiar with the
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
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.
A normally busy Main Street is deserted as the small businesses that line the business district remain closed after the governor instituted a shelter-in-place order in an attempt to curtail the spread of the coronavirus (COVID-19) on March 24, 2020 in Rockton, Illinois. Scott Olson | Getty Images Small businesses have applied for more than
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
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