President Donald Trump conducts a bill signing ceremony with members of his economic team in the Rose Garden at the White House on June 05, 2020. (Photo by Chip Somodevilla/Getty Images) A conspiracy theory has emerged relative to the unemployment rate, suggesting that the Trump administration rigged official statistics to give the illusion of a
Month: June 2020
Who are the three types of travelers most likely to travel internationally this summer? If you guessed the jet-setting elite, adventure enthusiasts and once-in-a-lifetime honeymooners, you’d be wrong. A new report by Sentimantle, a service that advises tourism and airline clients, has identified the types of travelers who are most likely to venture abroad first.
When it comes to hiring a diverse workforce, Wall Street could use a little help. That’s what Troy Prince, founder and CEO of nonprofit organization Wall Street Bound, is trying to do. “We know that talent and IQ is equally distributed,” he said in an interview Tuesday with Halftime Report. “Opportunity is not. “This demographic,
Just as many U.S. businesses were thrown off their guard by the coronavirus pandemic, so were financial advisory practices. Close to 1.8 million Americans have contracted Covid-19, and more than 100,000 people have perished from the disease, according to data from Johns Hopkins University. Lockdowns to minimize spread of the disease have also battered the
Colorado residents are dining out in the patio area at Los Chingones restaurant in Denver Source: TAG Restaurant Group Chef Troy Guard is hoping to bring back all of the 623 employees he had to furlough across his restaurant chain when Colorado Gov. Jared Polis ordered all bars, restaurants, theaters, gymnasiums and casinos to close on March
The Federal Reserve Bank building Kevin Lamarque | Reuters In addition to signaling a possible turn in the economy, the big job gains in May give the Federal Reserve some more wiggle room before its next policy move. Markets will be watching this week’s Federal Open Market Committee meeting more for what the central bankers
A store stands closed near Wall Street as the coronavirus keeps financial markets and businesses mostly closed on May 08, 2020 in New York City. Spencer Platt | Getty Images One result of the coronavirus pandemic could be as many as 25,000 store closures announced by retailers this year, as the crisis takes a toll on many
Macy’s at Valencia Town Center Mall opens for curbside pickup service during COVID-19 outbreak on May 21, 2020 in Santa Clarita, California. Robin L Marshall | Getty Images Macy’s shares soared Tuesday as the company released its preliminary financial results, saying it is regaining customers at reopened stores much quicker than it expected. With the retailer’s stores
Customers inspect a Fiat Chrysler Automobiles NC Dodge Grand Caravan minivan at a Carvana Co. location in Westminster, California, U.S., on Thursday, May 28, 2020. Patrick T. Fallon | Bloomberg | Getty Images As the coronavirus was spreading from China to Europe and eventually to the U.S., Americans borrowed a record amount of money to
French luxury giant LVMH said on October 28, 2019 it was exploring a takeover of US jewellers Tiffany, most famous for its fine diamonds and luxury wedding and engagement rings. STEPHANE DE SAKUTIN | AFP | Getty Images Tiffany & Co. said its jewelry business is rebounding in China after the coronavirus pandemic and its merger
Around 71% of the 21 million unemployed people in May had been out of work between five and 14 weeks. About 19% have been unemployed for fewer than five weeks. “There aren’t many people who are long-term unemployed,” said Stephen Woodbury, an economist at Michigan State University. “There are gazillions of people that have lost
Companies prepare offices to reopen. Source: Karen Firestone When governors, mayors, and national leaders told us to stay home and work remotely, back in what seems like the Ice Age, we were thrust into a state of shock, disorientation, and, ultimately, acceptance. Two and half months later, we have grown accustomed to Zoom, Covid-19 news
A TV grab taken from a video released by the World Health Organization (WHO) shows WHO Chief Tedros Adhanom Ghebreyesus attending a virtual news briefing on COVID-19 (novel coronavirus) from the WHO headquarters in Geneva on April 6, 2020. AFP | Getty Images The World Health Organization said on Monday that most people across the
Katrina Lake, CEO of Stitch Fix Adam Jeffery | CNBC Stitch Fix on Monday reported a quarterly sales decline of 9%, and a wider-than-expected net loss, as its business took a hit from fewer people shopping for clothes during the coronavirus pandemic. Chief Executive Katrina Lake said, however, the company expects to return to revenue growth
It appears a major shift is underway in the bond market. BofA Global Research’s Mark Cabana sees an improving jobs market adding fuel to the Treasury yield rally and providing some relief to the Federal Reserve ahead of Tuesday’s policy meeting. “We were really thinking that the economy would still really struggle to rebound in
A view of 432 Park Avenue October 15, 2104 the day after it earned the distinction of being the country’s tallest residential skyscraper. Timothy A. Clary | AFP | Getty Images The number of real estate contracts signed for Manhattan apartments plunged 84% in May compared with last year, as shutdowns to prevent the spread
Hero Images | Hero Images | Getty Images One of the risks that comes with pension plans may be looming larger than usual. As many companies work to regain their financial footing in the midst of continuing economic uncertainty caused by the coronavirus pandemic, a retiring worker’s decision to take either a lump sum or
President Donald Trump signed the Paycheck Protection Program Flexibility Act of 2020 into law on June 5. Mandel Ngan | AFP | Getty Images Small-business owners who borrowed from the Paycheck Protection Program are about to get a break on forgiveness. Last Friday, President Donald Trump signed the Paycheck Protection Program Flexibility Act into law.
Kenneth Fisher, chief executive officer of Fisher Investments, speaks at the Forbes Global CEO Conference in Sydney, Australia, on Tuesday, Sept. 28, 2010. Gillianne Tedder | Bloomberg | Getty Images Money-manager Ken Fisher said last week that legendary investor Warren Buffett’s decision to sit on the sidelines during the coronavirus crisis is likely due to
Hundreds of thousands of employees are expected to return to work in New York City on Monday as the city moves into its first phase of reopening after nearly 3 months of restrictions and closures. Shops can partially reopen for curbside pickup, though most of the resumed economic activity will be in construction and manufacturing.
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