Erica Cisneros, of San Anselmo, California, helps her daughters, third-grader Emilia and fourth-grader Eden, with schoolwork at their home. Both of the schools that the girls attend are closed because of COVID-19. Ezra Shaw It’s no fun thinking about scary things that may or may not happen. However, what’s even less fun is not being
German brands such as Mercedes-Benz, BMW, and Audi built their reputations on being purveyors of precise engineering cars, luxurious interiors, cutting-edge technology, and above all, pretty high sticker prices. But increasingly, they are selling cars with prices that are quite average. In their quest to grow volumes and reach a broader chunk of the new
Pedestrians cross Powell Street, usually full with cars and cable cars, in San Francisco, California, U.S., on Tuesday, March 17, 2020. David Paul Morris | Bloomberg | Getty Images For the first time in over a century, a global coronavirus pandemic has turned the country’s focus to the dangerously fragile health of the American people
cmannphoto | Getty Images Many Americans may soon get checks in their hands from the government. But Uncle Sam could also claw back some of that money. Information about how much those checks will be – and whether or not individuals will pay tax on them – will likely be hammered out in a deal
Medical workers and other officials gather outside of the Brooklyn Hospital Center where testing for the coronavirus has started on March 19, 2020 in the Brooklyn borough of New York City. Spencer Platt | Getty Images This is CNBC’s 24-hour blog covering all the latest news on the coronavirus outbreak. All times below are in
Take a look at some of the biggest movers in the premarket: Tiffany (TIF) – LVMH is considering buying Tiffany shares on the open market, according to a Bloomberg report. The shares are currently selling below the $135 per share takeover price that LVMH agreed to pay when it struck its deal with the luxury
Jim Cramer on CNBC’s Halftime Report. Scott Mlyn | CNBC CNBC’s Jim Cramer said Friday the coronavirus-slammed stock market is due for bounce because there has been so much selling in recent weeks. “I think there’s a technical rebound coming,” Cramer said on “Squawk Box.” “I don’t know how long it will last because I
Princeton University’s campus was largely deserted as of March 18, 2020 as a growing number of colleges require students to leave for the remainder of the spring semester. Jessica Dickler | CNBC “Stay healthy, stay home,” reads a lit-up sign outside the gates of Princeton University. On campus, the majority of students are gone although
The Uptown Garrison in Manhattan’s Washington Heights neighborhood is still offering takeout and delivery as much of the city shuts down due to coronavirus. Spencer Kimball | CNBC Restaurant and bars in the nation’s largest city, world-renowned for its food and nightlife, are shutting down indefinitely and laying people off en masse as the state
Jeremy Kennedy, a Ford employee, secures the engine and transmission to the subframe of a new 2020 Explorer at Chicago Assembly Plant. Ford As the coronavirus spreads across the globe, shuttered auto plants in Europe, North America and Latin America could reduce global production this year by more than 1.4 million vehicles, according to new
Meric Greenbaum, Designated Market Maker IMC financial looks up at the board before the opening bell right before trading halted on the New York Stock Exchange on March 9, 2020 in New York. Timothy A. Clary | AFP | Getty Imgaes The S&P 500 could return to record highs by early next year if U.S.
A trader reacts during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Photo by Johannes Eisele | AFP | Getty Images We are all exhausted and depressed, having experienced this week one of the worst stock market declines in modern history. I
PeopleImages Coronavirus scams are emerging, and many look remarkably similar to frauds from the 2008 financial crisis. Government agencies like the Federal Trade Commission and Federal Deposit Insurance Corp. issued warnings this week for Americans to be vigilant as con artists attempt to steal from consumers spooked by an onslaught of bad news related to
Delta’s first Airbus A350 in Atlanta. Leslie Josephs | CNBC Delta Air Lines CEO warned Friday that the airline’s second-quarter revenue will be down 80% — or $10 billion — from the same quarter a year ago because of coronavirus. Executives say demand has collapsed because of the illness, forcing them to encourage workers to take unpaid leave.
A shopper prepares to pay for items at a Kohl’s department store in Peru, Illinois, May 16, 2019. Daniel Acker | Bloomberg | Getty Images Kohl’s has withdrawn its earnings outlook for the current quarter and fiscal year, as it grapples with the hit it will take from the coronavirus pandemic. The department store chain will
Staff members work at the assemble plant of FAW-Volkswagen Automobile in Chengdu, southwest China’s Sichuan Province, Feb. 19, 2020. Liu Kun | Xinhua via Getty Images BEIJING — Chinese businesses are getting back to work just as many parts of the world are shutting down, and that could add a second jolt to the world’s second-largest economy.
Wealthy New Yorkers fleeing the city are driving up the prices of rentals in the Hamptons and Hudson Valley, with rates more than tripling for some properties. As New York City considers “shelter in place” rules and the number of coronavirus cases skyrockets, New Yorkers who can afford it are decamping to more rural locales.
M. Llorden | Getty Images Companies holding low-rated debt are in for a brutal stretch as the economy heads into a coronavirus-induced recession, according to a forecast Friday. S&P Global Ratings said the default rate for high-yield, or junk, bonds is heading to 10% over the next 12 months, more than triple the rate of
US Secretary of Education Betsy DeVos Saul Loeb | AFP | Getty Images U.S. Department of Education Secretary Betsy DeVos announced on Friday that student loan borrowers could put their monthly payments on pause for at least 60 days during the coronavirus outbreak. DeVos said this pause, coupled with the suspension of interest on student
Robert Herjavec, CEO, Herjavec Group Scott Mlyn | CNBC Robert Herjavec, cybersecurity entrepreneur and “Shark Tank” investor, told CNBC on Friday that his directive to small businesses is to do whatever it takes to survive the coronavirus crisis. Herjavec argued he would take hedge fund manager Bill Ackman’s “hell is coming” warning on Wednesday to the