Adam Levin, co-founder of Credit.com and founder of Cyberscout, says that the coronavirus shutdown provides a perfect environment for scammers to operate. Millions of people are working from home and sharing devices with family members. This creates new vulnerabilities for thieves to target. Watch this video to see how the new scams work and to
The U.K. government’s treasury building Matthew Lloyd | Bloomberg | Getty Images The U.K. borrowed at a negative interest rate for the first time on Wednesday, amid growing fears of a deep global recession and expectations of further bond buying action from central banks. In an auction Wednesday, the country’s Debt Management Office said it
Coca-Cola CEO James Quincey delivered a grim forecast for the global economy’s recovery from the impact of the coronavirus pandemic on Wednesday. “The economic impact of the lockdown is just starting to begin,” Quincey said on CNBC’s “Squawk Box.” In the United States, more than 36 million Americans have applied for unemployment benefits since the coronavirus
Most students can’t wait to get back into the classroom, even as more schools extend remote learning indefinitely. The University of Alabama system said it intends to return to on-campus instruction, while the California State University System announced that all students, enrolled on 23 campuses, will take fall classes online. Other schools have proposed a
The coronavirus pandemic caused an unprecedented jump in job losses, but the worst may be over, at least for now. After spiking more than 1,000% in March, layoffs among small business leveled off last month, according to exclusive data compiled by human resource provider Gusto and based on more than 100,000 small businesses nationwide. “We are no
Customers leave a Kohl’s store on November 12, 2015 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Kohl’s net sales tanked 43.5% during the first quarter, the company said Tuesday, as its stores were forced temporarily shut due to the Covid-19 crisis. “While we have a fast-growing digital business, it has
U.S. stock futures ticked lower in overnight trading and pointed to modest losses at the open Wednesday, following a weak session that snapped a three-day winning streak for markets. Fueling the volatility is uncertainty around a possible coronavirus treatment and vaccine and how economies will fare in reopening, from a health perspective. Dow futures fell
Coronavirus has dramatically changed college for millions of students, as schools have been forced to close their physical campuses and move classes online. Now, many are anticipating that enrollment will be down at traditional non-profit four-year colleges next semester. “I know there’ve been some students that have already withdrawn from next year because they’re worried
Heavy hearts soared Monday with news that Moderna’s Covid-19 vaccine candidate — the frontrunner in the American market — seemed to be generating an immune response in Phase 1 trial subjects. The company’s stock valuation also surged, hitting $29 billion, an astonishing feat for a company that currently sells zero products. But was there good
DTP | Getty Images Add robocalls to scammers’ methods of capitalizing on the coronavirus crisis. As Americans adjust to life in the midst of a global pandemic, roughly a quarter of individuals say they’ve experienced an increase in robocalls and about 20% have received a call or text regarding the illness, according to a survey
Magic Johnson Getty Images With the future of small businesses in urban communities at risk, former National Basketball Association great Magic Johnson has stepped in to offer assistance. Johnson, the CEO of Magic Johnson Enterprises, collaborated with MBE Capital Partners to offer $100 million in loans to minority- and women-owned companies hurt by stay-at-home orders
Patrick T. Fallon | Bloomberg | Getty Images Home Depot is set to report its first-quarter earnings before the bell on Tuesday. While coronavirus restrictions have slowed or suspended construction in much of the country, Home Depot’s earnings will offer insight into the demand for do-it-yourself projects, kitchen appliances and gardening supplies as many Americans
Pedestrians pass in front of an Urban Outfitters store in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Urban Outfitters — The clothing retailer’s stock tumbled 5% in extended trading after the company released its first-quarter financial results. Urban Outfitters reported a loss of $1.41 per share on
Entrepreneurs and small business owners across the country have undoubtedly been hit hard by today’s pandemic with many non-essential businesses remaining closed until further notice. Though the federal government has stepped in to offer more than $600 billion in financial assistance through the Paycheck Protection Program (PPP) under the Coronavirus Aid Relief and Economic Security
JPMorgan Chase CEO Jamie Dimon said Tuesday in a memo that the coronavirus crisis should be used to build an economy that offers opportunities for “dramatically more people.” “It is my fervent hope that we use this crisis as a catalyst to rebuild an economy that creates and sustains opportunity for dramatically more people, especially those
Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York. Lucas Jackson | Reuters Johnson & Johnson said Tuesday that it is discontinuing its talc-based baby powder in the United States and Canada as the company faced mounting lawsuits that said it caused cancer and demand fell. J&J attributed the decline
Thomas Barwick Lawmakers may allow savers to undo last year’s mandatory withdrawals from retirement accounts. The $3 trillion HEROES Act – the latest round of proposed federal coronavirus relief legislation – was passed by the House last Friday. Aside from granting households another batch of $1,200 stimulus payments and granting student loan relief, the measure
toondelamour For small businesses struggling to survive during the coronavirus crisis, bankruptcy may end up beckoning. While overall filings were down in April, the number of businesses that filed Chapter 11 bankruptcy — which involves reorganizing debt and remaining in operation — jumped 26% from a year earlier. And according to some experts, it won’t
People wearing masks and gloves wait to enter a Walmart on April 17, 2020 in Uniondale, New York. Al Bello | Getty Images Walmart is set to report its first-quarter earnings before the bell on Tuesday. The big-box retailer has kept stores open as an essential retailer during the coronavirus pandemic. To meet demand, it hired 200,000
Signs hang from the Meridian Heights apartment building in Northwes Washington on Monday, May 18, 2020. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) Caroline Brehman The unemployment drama playing out in the U.S. has drawn comparisons to the Great Depression, the worst economic downturn in the history of the industrialized world. But is