Healthcare workers look at paperwork outside of medical tents where Covid-19 tests are being conducted at Newton Wellesley Hospital in Newton, Massachusetts, U.S., on Wednesday, March 18, 2020. Scott Eisen | Bloomberg | Getty Images U.S. hospitals are setting up coronavirus wards and tents, seeking emergency credit lines and lobbying Washington for a $100 billion stabilization
James Quincey, President and chief operating officer of the Coca-Cola company. Patrick Kovarik | AFP | Getty Images Coca-Cola on Friday said that it does not expect to meet its financial outlook for 2020 due to the impact of the coronavirus pandemic. Around the world, sporting events and concerts have been canceled, movie theaters and
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon got a 20% raise to $27.5 million for his work leading the bank in 2019. His pay package includes a $2 million annual salary, $7.65 million in a cash
The private-jet industry is asking Congress for bailout money, even as many private jet companies say sales are strong as wealthy flyers avoid commercial flights. The National Business Aviation Association, or NBAA, which represents private-jet companies and corporate jets, sent a joint letter with other industry groups to congressional leaders saying the industry is facing
A Bank of America financial manager shows a customer how to use the ATM with Teller Assist station in Cherry Creek. Andy Cross | Denver Post | Getty Images Bank of America said it was boosting pay for bank tellers and reducing daily work shifts by at least two hours amid the widening coronavirus epidemic.
Tara Moore | Getty Images A bill proposed by Senate Majority Leader Mitch McConnell, R-Ky., calls for sending checks of $1,200 to $2,400 to most Americans as a result of the economic damage stemming from the coronavirus outbreak. Based on the language of the bill, most Social Security recipients should be covered. But whether that will
A man cleans the windows at his store on March 17, 2020 in the Brooklyn Borough of New York City. – The coronavirus outbreak has transformed the US virtually overnight from a place of boundless consumerism to one suddenly constrained by nesting and social distancing.The crisis tests all retailers, leading to temporary store closures at
New York Gov. Andrew Cuomo ordered non-essential businesses to keep 100% of their workforce at home and put in place stringent new restrictions on New Yorkers starting Sunday as the state grapples with the worst coronavirus outbreak in the U.S. “When I talk about the most drastic action we can take, this is the most
Shoppers sit outside of a J.C. Penney store at the Westfield Mall in Culver City, California. Martina Albertazzi | Bloomberg | Getty Images J.C. Penney has withdrawn its earnings outlook due to the uncertainty surrounding COVID-19. The department store chain announced Friday morning that it is not providing an updated outlook at this time. Earlier in
Pedestrians walk past an american multinational investment bank and financial services holding company JPMorgan Chase Bank branch. Alex Tsai | SOPA Images | Getty Images JPMorgan Chase said it was giving bank tellers and other “front-line employees” a one-time bonus of up to $1,000 to help cushion the difficulties of working during the coronavirus pandemic.
CNBC’s Jim Cramer said Friday he fears that the coronavirus-driven halt in the economy could leave the U.S. with only three retailers after the crisis ends. “If we come out of this sooner, then other, small businesses can open. If we come out of this later, there are going to be three retailers in this country,”
Daniel Harison, a barista at Velvette Brew, a coffee shop in Park Slope, Brooklyn. Greg Iacurci A palpable chill had settled over Park Slope on an otherwise beautiful Monday evening. The brownstone-lined streets of this South Brooklyn enclave, typically abuzz with commuters at peak rush hour, were near empty. Stores of all kinds — from
Small businesses are switching up their models in a fight to survive during the coronavirus crisis — some in unexpected ways. Businesses including condom-makers, gin producers and food manufacturers are seeing consumers react in different ways as they self-isolate or reduce social contact. Small businesses generate 44% of U.S. economic activity, and around half of
In a move that would have been unthinkable just months ago, quarantine and social distancing have now become commonplace globally as governments make concerted efforts to fight the spiraling coronavirus outbreak. The measures, which have seen citizens from the U.S. to India either encouraged or enforced to stay in their homes, are deemed by medical
Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski | AFP | Getty Images
Sen. John Thune (R-SD) Aaron P. Bernstein | Reuters Sen. John Thune, R-S.D., has proposed giving taxpayers until July 15 to submit their 2019 income tax returns – 90 days from the original April 15 due date. The Tax Filing Relief for America Act, which Senators Steve Daines, R-Mont., and Angus King, I-Maine, are joining
U.S. President Donald Trump speaks as Vice President Mike Pence looks on during a news briefing on the latest development of the coronavirus outbreak in the U.S. at the James Brady Press Briefing Room at the White House March 18, 2020 in Washington, DC. Alex Wong | Getty Images The COVID-19 pandemic is a matter
Passengers wear face masks to protect against the COVID-19 (Coronavirus) after arriving at the LAX airport in Los Angeles, California on March 5, 2020. Mark Ralston | AFP | Getty Images California estimates that more than half of the state — 25.5 million people — will get the new coronavirus over the next eight weeks, according to
Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City. Spencer Platt | Getty Images Check out the companies making headlines after the bell. Crowdstrike — The cybersecurity company’s stock soared 19% in extended trading after the company posted fourth-quarter revenue that exceeded analysts’ expectations. Crowdstrike