A major financial institution is starting to lose enthusiasm for U.S. stocks. Invesco’s Kristina Hooper is worried the latest coronavirus spike will push states to close their economies again. “Up until now the U.S. has been rewarded because of expectations that we wouldn’t see any kind of significant lockdowns even if infection rates grew,” the
Getty Back in June, the consulting firm Milliman updated its estimated composite funded status for the 100 largest U.S. public pension plans, reporting that at the end of May, plans had made a fair amount of progress in recovering from the March market crash: while the 2019 year-end funded ratio had reached a level of
A letter from the Internal Revenue Service, signed by President Trump, notifies a family via U.S. … [+] Mail of an economic impact payment direct deposit made to their account in East Derry, N.H., Monday, April 27, 2020. The funds were provided as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. (AP
The student housing industry has been hard at work planning for the fall. Getty With the fall semester approaching, student housing owners and operators are taking unprecedented precautions to ensure students return to a safe and productive environment. Students are likely to find transformed spaces in on-campus housing and new normals as they start or
Justin Sullivan | Getty Images For many older folks, enrolling in Medicare leads to the conclusion that a supplemental plan — aka “Medigap” — is the best fit for their circumstances. However, that decision generally isn’t the end of the process. Although Medigap policies are standardized in most places, regardless of which insurance company offers
Michael De Los Santos saw a big boost in sales on Blackout Day as consumers supported his BBQ sauce business. Source: Michael De Los Santos As activists and allies spread the word about Blackout Day, some Black-owned businesses said they saw a boost in support. The movement urged both Black consumers and others to either
“Constraints breed resourcefulness, self-sufficiency, and invention,” reads one of Amazon’s famous core leadership principles delineated on its website. This, one of the major tenants upon which Jeff Bezos built Amazon, is something he learned as a kid spending more than a dozen summers on working on his grandfather’s ranch in Texas. “I learned so much from my
A pedestrian passes by the New York Stock Exchange, NYSE, in New York on March 17, 2020. (Photo by Michael Nagle/Xinhua via Getty) (Xinhua/Michael Nagle via Getty Images) Xinhua News Agency Companies struggling to get through the coronavirus slashed the amount of money they returned to shareholders through dividends in the second quarter. The net
The coronavirus pandemic has now claimed one of the country’s oldest and most prestigious retailers. Brooks Brothers — pioneer of the polo and uniform of the polished prepster — filed for bankruptcy on Wednesday, as it continues to search for a buyer. The retailer, founded in 1818, boasts of having dressed 40 U.S. presidents and
Nikola Motor Company Badger pickup truck Source: Nikola Motor Company Check out the companies making headlines in midday trading. Nikola — Shares of Nikola soared nearly 18% after JPMorgan hiked its rating on the controversial electric vehicle company to overweight from neutral. The bank said the stock looks attractive for long-term investors after a 40% plunge this month
TOPLINE United Airlines said on Wednesday that it could furlough up to 36,000 employees—almost half its U.S. workforce—in October if the coronavirus pandemic continues to wreak havoc on global travel. The potential job cuts could hit 40% of its staff. Justin Sullivan/Getty Images KEY FACTS United announced that it is warning more than a third
WUHAN, CHINA – JULY 31: South Korean singer IU Lee Ji-eun performs onstage during her concert on … [+] July 31, 2016 in Wuhan, Hubei Province of China. (Photo by Visual China Group via Getty Images/Visual China Group via Getty Images) Visual China Group via Getty Images In the week of May 16, the hit
The new stamp duty holiday could help boost the U.K. housing market Getty Images Stamp duty payments in England and North Ireland have been cut, Rishi Sunak announced today. The U.K. chancellor has increased the threshold at which buyers are required to pay stamp duty from $157,000 to $629,000. The level has been raised to help the
Harvard University and MIT pushed back on Wednesday against a new rule that would require international students to take classes in-person this fall in order to stay in the country. The guidelines issued Monday by Immigration and Customs Enforcement said “students attending schools operating entirely online may not take a full online course load and remain in the
Business spending showed some signs of green shoots in June, as manufacturers bought more equipment and spending shifted away from stay-at-home sectors to ones that could rebound in a reopening economy, according to Cortera, a software company which analyzes business-to-business credit transactions. But overall June spending was still depressed, down 10.9% from the same month
If you’re dreaming of going abroad this summer, countries in the European Union are gradually reopening their borders to residents of select countries around the world. From July 10, people from England, for example, will be able to go to popular destinations such as France, Spain and Italy without having to quarantine on arrival or upon
Joe Biden and Donald Trump Ron Adar | Echoes Wire | Barcroft Media via Getty Images; Mandel Ngan | AFP | Getty Images Goldman Sachs is warning that the upcoming presidential election could see delayed results, and is therefore recommending that clients hedge their market bets through December in anticipation of heightened volatility through November.
The denim maker Levi Strauss & Co.‘s sales fell 62% during its fiscal second quarter, the company announced Tuesday, as its online sales weren’t enough to make up for its stores being temporarily shut for roughly 10 weeks during the Covid-19 crisis. Consumers by and large have shifted away from tight pants and denim, opting
Nobel prize-winning economist Robert Shiller is worried the coronavirus fear factor will weigh on the country for years. According to the Yale University professor, the economic and psychological toll from the coronavirus pandemic could linger — especially if states scrap reopenings due to the virus spikes. “Looks like we might be entering a second phase,”
This recession is different, but different isn’t necessarily a disaster. Financial expert and market analyst John Mauldin says the recession of 2020 is unique. In the first place, by any metric it’s worse than any recession we’ve seen in the last 90 years. In the second place, that’s because our economy has moved in the