Lloyd Blankfein, the ex-Goldman Sachs CEO whose bank accepted bailout funds during the financial crisis, said that large companies should be “very reluctant” to take taxpayer money amid the coronavirus pandemic. “Big companies should be very reluctant to take government money,” Blankfein said Thursday on CNBC’s Squawk Box in response to a question about how
Month: May 2020
Even before the coronavirus pandemic shut down many parts of the U.S. and put millions out of work, Americans held an average of $26,621 in personal debt, excluding mortgages. That’s according to Northwestern Mutual’s 2020 Planning & Progress Study, which surveyed over 2,600 U.S. adults in mid-February. While that’s a staggering amount of debt, it’s
A Boeing 747 cargo freighter belonging to the Atlas Air flies into the clouds after lifting off from Hong Kong International Airport, on 23 October 2017, in Hong Kong, Hong Kong. S3studio | Getty Images Not all airlines are reeling from the coronavirus pandemic. Cargo airlines are cashing in on rush for medical supplies and
New Yorkers giving thanks to all the frontline workers on April 4th, 2020. Adam Jeffery | CNBC New York residents struggling amid the coronavirus pandemic can’t be evicted by their landlords until at least Aug. 20, Gov. Andrew Cuomo said Thursday. Cuomo’s announcement extends the state’s previous moratorium on evictions, which lasted only through June. “I don’t
With the U.S. economy largely shut down and the number of jobless Americans growing by millions each week, lawmakers in March moved swiftly to approve a historic stimulus package that would inject trillions of dollars into the economy as incomes and revenues evaporated. The Coronavirus Aid, Relief, and Economic Security, or CARES, Act injects
Visitors watch fireworks explode over the Shanghai Disneyland castle at an event to mark the first anniversary of the opening of the park. STR | AFP | Getty Images In less than a week, Disney will reopen its Shanghai theme park, offering up a glimpse to the rest of the theme park industry of what
General Motors Chairman and CEO Mary Barra on April 1, 2020 tours one of the company’s facilities in Warren, Michigan that will produce Level 1 face masks. GM General Motors is set to report its first-quarter earnings before the bell on Wednesday as the company grapples with the fallout from the coronavirus pandemic that’s shuttered
A person walks past a Virgin Media mobile phone store, closed down due to the Covid-19 pandemic, in London on May 4, 2020. Tolga Akmen | AFP via Getty Images Liberty Global and Telefonica have agreed to combine their U.K. operations in a deal that will create a new giant in the country’s telecommunications industry.
CNBC Make It is posting a new financial task to tackle each day for a month. These are all meant to be simple, time-sensitive activities to take your mind off of the news for a moment and, hopefully, put you on sturdier financial footing. This is day 29 of 30. Taking care of your physical and
A stylist wearing a protective mask cuts a customer’s hair at a barbershop in Atlanta, Georgia, on Monday, April 27, 2020. Dustin Chambers | Bloomberg via Getty Images When the coronavirus crisis, or at least the worst of it, passes, the U.S. economy will still be big — the biggest in the world, with any threat
Medicare isn’t free. And for beneficiaries whose income suddenly has dropped, that fact may now be more challenging. More than a third (37%) of Medicare recipients have experienced income loss due to the coronavirus crisis, according to a recent survey from ehealth.com. Younger beneficiaries are more likely to have suffered: 40% of respondents age 65
boonchai wedmakawand Coronavirus scams are on the rise — and thieves are targeting your financial relief from the government. Federal agencies like the IRS, Federal Trade Commission, Social Security Administration and FBI have warned consumers and business owners in recent weeks to be vigilant as fraudsters try to take advantage of them during the coronavirus pandemic.
Flight attendants talk in a nearly empty cabin on a Delta Airlines flight operated by SkyWest Airlines as travel has cutback, amid concerns of the coronavirus disease (COVID-19), during a flight departing from Salt Lake City, Utah, April 11, 2020. Jim Urquhart | Reuters A lobbying group representing U.S. airlines on Wednesday said federally mandated
People walk past the New York Times building on October 14, 2019 in New York City. Eduardo Munoz Alvarez | VIEW press | Corbis | Getty Images The New York Times Company said Wednesday it expects advertising revenue to fall between 50-55% year-over-year in the second quarter as impacts of the pandemic are hitting demand for
One of the world’s leading authorities on Asia is worried Wall Street is miscalculating China’s efforts to reopen its economy. While it’s going relatively smoothly on the supply side, Yale University senior fellow Stephen Roach warns the demand side is struggling, and that’s a bad sign for the U.S. economy as it begins reopening. “Chinese consumers
Chicago-based millennial Alex Sanchez earned more than $230,000 last year. The bulk of his income came from his day job: He works about 60 hours a week as an overhead lineman for an electrical utilities company. Between his $120,000 base salary, $10,000 annual bonus and overtime pay, he makes more than $200,000. The 25-year-old also brings
Warren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBC Warren Buffett made a lot of news at Berkshire Hathaway‘s first virtual annual meeting on Saturday, including revealing that he sold all his airline stocks and didn’t see any value in any major acquisitions amid the coronavirus pullback in stocks. The 89-year-old
rmbarricarte When John Vogt, Jr. wondered where his stimulus check was, he was shocked to find out that he was not eligible for one. Vogt, 49, of Bronx, N.Y., is a fourth-generation American. In July, he married to a woman who is a Brazilian citizen. This year, they filed a joint tax return as a
toondelamour Business owners who received loans through the Paycheck Protection Program and don’t need it have until May 14 to return the cash. The PPP – a forgivable loan program that allows small businesses to cover up to eight weeks of payroll costs, mortgage interest and other expenses – was just refilled to the tune
Ground staff load baggage on a United Airlines airplane at Newark Liberty Airport on March 23, 2018 in Newark, New Jersey. Gary Hershorn | Getty Images United Airlines on Wednesday tried to soothe labor tensions by making some mandatory schedule reductions voluntary, after a union sued, alleging the company was violating the terms of billions of
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