A view of baggage claim at the United Airlines terminal at Los Angeles International Airport (LAX) during the outbreak of the novel coronavirus, which causes COVID-19, April 16, 2020, in Los Angeles. VALERIE MACON It’s clear that Americans have slowed their spending drastically as many industries essentially grind to a halt amid the coronavirus pandemic and
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Billionaire Bill Gates continues to be one of the most outspoken public figures on the subject of coronavirus, which the Microsoft co-founder has dubbed “the first modern pandemic.” Gates has also made it clear that he sees the pandemic as a “nightmare” and an era-defining event whose effects will linger for years. “It’s going to
Saudi Aramco crude oil storage at Ras Tunura, Saudi Arabia. Planet Labs The coronavirus crisis led to an unprecedented collapse in demand for oil and U.S. prices have rapidly fallen over the past week. In order for the price to stabilize, U.S. producers have to further cut their production or be forced to curb it
Getty Images More than 88 million individuals received a stimulus check from the IRS in the last three weeks, according to data from the federal agency. The Treasury Department and the IRS have distributed a total of $157.9 billion in so-called Economic Impact Payments. The federal government began depositing the cash into taxpayers’ bank accounts
Despite outrage on Main Street and new pressure from the Treasury Department this week, several publicly traded companies that received payroll relief funds from the Small Business Administration oppose demands to return the cash. The companies said the Paycheck Protection Program loans have allowed them to keep employees on payroll and that they disagree with
The coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, visit the live blog from CNBC’s Asia-Pacific team. The House passed a $484 billion stimulus package to bolster small businesses and hospitals ravaged by the coronavirus crisis in the latest effort from lawmakers to ease the effects of coronavirus
Intel CEO Robert “Bob” Swan announces the company’s Tiger Lake chips at the technology fair CES. Christoph Dernbach | picture alliance | Getty Images Intel shares fell as much as 6% in extended trading on Thursday after the company reported earnings for its fiscal first quarter. Here are the key numbers: Earnings: $1.45 per share, adjusted
Wall Street stands empty as people stay away from the area due to the coronavirus on March 30, 2020 in New York City. Spencer Platt | Getty Images U.S. stock futures were flat on Thursday night as investors continued to weigh the prospects of a potential coronavirus treatment. Dow Jones Industrial Average futures were up just
Javon Kinlaw is part of an incredibly exclusive club, as one of just a handful of college football players who are expected to be early first-round selections when the 2020 NFL Draft kicks off on Thursday night. But Kinlaw’s story becomes even more unique than his fellow soon-to-be NFL draft picks when you consider just
Jim Cramer on CNBC’s Halftime Report. Scott Mlyn | CNBC CNBC’s Jim Cramer said Thursday he believes that scientists testing treatments for the new coronavirus will succeed in getting patients “out of the hospital faster” and reducing “death sentence” concerns. “I think the scientists are going to solve it,” predicted Cramer, who has been advising
CNBC | Jaden Urbi On March 25, the Trump administration announced that during the coronavirus pandemic it would stop garnishing the wages of struggling student loan borrowers. “These are difficult times for many Americans, and we don’t want to do anything that will make it harder for them to make ends meet or create additional
Food Network star Willie Degel said Thursday he does not plan to immediately open his restaurant in Georgia when the state’s coronavirus-related restrictions on his business are relaxed next week. “Being that we’re more of a middle-serve, finer-dining restaurant, I’m going to wait on the sidelines and see how the customers are reacting,” Degel said
Ruth’s Chris Steakhouse Source: Ruth’s Chris Steakhouse Ruth’s Chris Steakhouse owner, Ruth’s Hospitality Group, announced Thursday that it is repaying the $20 million it received under the federal government’s Paycheck Protection Program. “We intended to repay this loan in adherence with government guidelines, but as we learned more about the funding limitations of the program and
An employee places a pizza box onto a shelf at a Domino’s Pizza Inc. restaurant in Chantilly, Virginia. Andrew Harrer | Bloomberg | Getty Images Domino’s Pizza on Thursday said U.S. same-store sales continued to grow a month into its second quarter, even as the coronavirus pandemic roils the restaurant industry. The company’s U.S. same-store sales grew
Pedestrians pass in front of an E-Trade location in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Alphabet — The tech giant’s stock was down 2% in extended trading after CNBC reported that Google is reducing its marketing budgets by as much as half for the second half of
When Jyri Engestrom, a 42-year-old entrepreneur who runs a small early stage venture fund in San Francisco, California, read an article in the Guardian newspaper about an Italian village that tested its entire community for the novel coronavirus and was reportedly able to eradicate the virus by doing so, he was inspired. Engestrom wanted to do
Steven Eisman, senior portfolio manager at Neuberger Berman. Katie Rooney | CNBC Renowned investor Steve Eisman said Thursday U.S. banks are an attractive investment following the coronavirus-induced market sell-off. “I actually think long-term, the best cyclical play out there are the very large banks,” Eisman, senior portfolio manager at Neuberger Berman, told CNBC’s “Fast Money.”
(Credit: Getty | PeopleImages) When the government launched a web tool on April 15 so that eligible Americans could find out the status of their coronavirus stimulus payments, Jake Koepke was eager to log on. But the central Wisconsin resident, 34, was disappointed to find himself shut out after three failed attempts to get onto
House Speaker Nancy Pelosi of Calif. arrives on Capitol Hill, Thursday, April 23, 2020, in Washington. Andrew Harnik | AP The House passed a $484 billion package Thursday to bolster small businesses and hospitals ravaged by the coronavirus crisis and expand testing desperately needed to start the return to normal life. Donning face coverings and
In this July 9, 2015, file photo, a man walks outside the headquarters of Gilead Sciences in Foster City, Calif. Eric Risberg | AP Gilead Sciences said that a draft document showing disappointing results from a closely watched clinical trial of the company’s treatment for the coronavirus contained “inappropriate characterizations” and that the study’s findings