As the coronavirus pandemic upends the restaurant industry, some chains that were already struggling financially have been pushed into bankruptcy. Trade groups estimate that up to 30% of restaurants could permanently close because of the pandemic. While independent restaurants are more at risk, dining room closures and consumers eating more at home has also strained
admin
The economic aftermath of the coronavirus pandemic is likely to worsen when authorities start rolling back relief measures — and banks could experience “far more damage” to their balance sheets, said Piyush Gupta, group chief executive of Singaporean bank DBS. Speaking to CNBC’s “Managing Asia” anchor Christine Tan, Gupta said government stimulus in many countries is
Resist the urge to shove your completed 2019 tax return into a drawer. It could help you save money next spring. Taxpayers and tax professionals were focused on the sprint to July 15 – the new deadline for 2019 federal income tax returns and payments. Indeed, the IRS received 147.1 million individual income tax returns
Aventura Mall atrium. Jeffrey Greenberg | Universal Images Group via Getty Images Dozens of retailers, some of them the lifeblood of America’s shopping malls, have been pushed to the brink and filed for bankruptcy during the coronavirus pandemic. Apparel brands like J.Crew, Brooks Brothers and New York & Co. parent company RTW Retailwinds. Department store chains Neiman
Long-time market bull Ed Yardeni is getting nervous for the first time since the March 23 rebound. He warns new risks from the U.S. surge in coronavirus cases to renewed tensions with China could spark a 20% to 30% meltdown. “We’ve had a melt-up and that’s very visible in valuation multiples. Stocks are not cheap,
One of the trickiest parts of retirement planning is knowing whether you’ll need long-term care down the road — or how much it might cost. While not everyone will need such care — help with daily living activities like bathing or dressing — those who do can face a big tab. Medicare — relied on
Traders work after the closing bell at the New York Stock Exchange (NYSE) on August 12, 2019 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images The U.S. stock market recovered from the March bottom so fast that many wealthy investors are not sure what move to make next. Millionaire
US President Donald Trump holds up swabs as he speaks during a Coronavirus Task Force press briefing at the White House in Washington, DC, on April 19, 2020. Jim Watson | AFP | Getty Images The White House is trying to block billions of dollars for coronavirus testing and contact tracing in the upcoming stimulus
The skyline of the Lujiazui financial district in Shanghai, China. Hector Retamal | AFP | Getty Images Chinese banks have so far emerged relatively unscathed as the coronavirus pandemic hit economies around the world — but that could change in the coming months. Rising bad loans are set to squeeze margins and reduce profits, said analysts. China’s
TOPLINE The market closed flat on Friday, as investors digested mixed economic data and stocks took a hit from yet another daily record spike in new U.S. coronavirus cases. Stocks are on pace for a third straight week of gains. Angela Weiss/AFP via Getty Images KEY FACTS The Dow Jones Industrial Average was down 0.2%,
WASHINGTON, DC – JULY 17: Steven Mnuchin, U.S. Treasury secretary, speaks during a House Small … [+] Business Committee hearing on July 17, 2020 in Washington, D.C. The hearing is titled “Oversight of the Small Business Administration and Department of Treasury Pandemic Programs.” (Photo by Erin Scott-Pool/Getty Images) Getty Images To date, the Paycheck Protection
Getty The Probable Next Round of PPP Loans Based on Necessity, Minority Outreach, and Exactly What Was Said About Automatic Forgiveness for Loans Under $150,000. On July 17, 2020, the House of Representative’s Committee on Small Business held a hearing with Steven Mnuchin, the United States Secretary of the Treasury, and Jovita Carranza, Administrator of
Economic Security Planning, Inc. Today’s column addresses questions about when widow(er)’s benefits can be paid to a surviving spouse, how filing for early retirement benefits can affect other benefits taken later and taking early retirement benefits before divorced spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president
Dr Anthony Fauci, director of the National Institute for Allergy and Infectious Diseases testifies during a Senate Health, Education, Labor and Pensions (HELP) Committee hearing on Capitol Hill in Washington, U.S. Kevin Dietsch | Reuters White House health advisory Dr. Anthony Fauci said Friday that the coronavirus has hit the U.S. “very severely” and the
A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019. Jaap Arriens | NurPhoto | Getty Images Check out the companies making headlines in midday trading. Netflix — Shares of the streaming video giant fell 6.5% after company missed earnings estimates gave guidance
Jodi Furman, 46, says negotiating over a car purchase or lease is best done over the phone or through email. Jodi Furman Jodi Furman is married to a man who loves expensive cars. “Pretty cars, fast cars,” said Furman, 46. She has bought 12 cars in about 20 years, and she’s picked up a wealth
Patrice Washington became a real estate broker her senior year of college. After graduating from USC in 2003, Washington opened a boutique real estate and mortgage brokerage with a team of employees to keep up with demand. By 2007, she had made millions and parked her earnings into 13 investment properties. Then the housing market
A pilot talks on a mobile device near a Delta Air Lines gate at the Salt Lake City International Airport. George Frey | Bloomberg | Getty Images Delta Air Lines is seeking to reduce the guaranteed minimum pay for pilots, a proposal an airline executive said Friday could avoid furloughs for a year as the threat
Attempting to forecast the path of the American economy right now is like peering into a dark well — nobody knows how deep the hole goes. Even Jamie Dimon, CEO of JPMorgan Chase and veteran prognosticator of all things financial, is flummoxed. As head of the financial system’s bellwether, a bank with $3.2 trillion in
Robert Miller, a Pittsburgh area restaurateur, has watched with sadness as some of his favorite local eateries closed for good in recent weeks. Union Standard, Pizza Taglio, Spoon — just a handful of the businesses lost in the age of the coronavirus pandemic. “They’re all places people would know by name,” Miller said. Miller, 45, expects