Amazon Founder and CEO Jeff Bezos addresses the audience during a keynote session at the Amazon Re:MARS conference on robotics and artificial intelligence at the Aria Hotel in Las Vegas on June 6, 2019. Mark Ralston | AFP | Getty Images Since its humble origins as an online bookseller that debuted out of founder Jeff
A ticket agent helps travelers arriving on a flight from Frankfurt, Germany before travel restrictions are enacted hours later on flights from Europe entering the U.S. because of concerns of the novel coronavirus (COVID-19) at the Denver International Airport outside Denver, Colorado, U.S. March 13, 2020. Jim Urquhart | Reuters Thousands of Americans returning home
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters An economic slowdown is inevitable in the face of the fast-spreading coronavirus, but the U.S. will eventually avoid a technical recession, JPMorgan economists said. As the outbreak situation continued to worsen, JPMorgan
Treasury Secretary Steven Mnuchin told CNBC on Friday the market sell-off will be short-lived and looks like a compelling opportunity for investors looking to buy equities at a discount. “This is a short-term issue. It may be a couple of months but we’re going to get through this and the economy will be stronger than ever,”
Many international students are not able to come to the U.S. and that could cause a significant disruption in our college system. For years, there has been a major influx of students studying in this country, particularly from China. In fact, one-third of all the international students in the U.S. come from China — more
A customer pays for her groceries after shopping at a Walmart store ahead of the Thanksgiving holiday in Chicago. Kamil Krzaczynski | Reuters Walmart is reducing hours at all of its U.S. stores to allow more time to replenish shelves and clean and sanitize stores, the retailer announced Saturday in a letter on its website. The national retailer
An aircraft operated by British low cost airline Easyjet moves past other aircrafts as a rainbow is seen at Amsterdam Airport Schiphol on March 9, 2020 in Schiphol, Netherlands. Yuriko Nakao | Getty Images Shares of major U.S. airlines got a respite Friday on expectations that the government will provide targeted financial relief from the
Carl Icahn Adam Jeffery | CNBC Billionaire investor Carl Icahn told CNBC’s Halftime Report on Friday that his largest short position is in commercial real estate. This story is developing. Please check back for updates. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
If the new coronavirus interferes with your already-planned trip, don’t count on your travel insurance to provide much help. Unless you have “cancel for any reason” coverage, you might be out of luck. While some insurers have loosened their restrictions, fear of contracting the new coronavirus, or COVID-19, is not covered under a standard policy,
As U.S. grocery stores respond try to keep shelves stocked during the coronavirus outbreak, some major chains have begun to limit purchases of food items and ramp up hiring. Texas grocery chain H-E-B is limiting purchases of at least a dozen popular food items, including eggs, milk, bread and boxed pasta. Limits vary by item. Eggs, pasta
Scott Mlyn | CNBC Check out the companies making headlines in midday trading. Ulta Beauty — Share of Ulta Beauty rose about 3% around midday, paring gains along with the broad market. The stock surged as much as 15% at its session high after the makeup retailer posted better-than-expected quarterly earnings. Ulta reported fourth-quarter profit of $3.89
Chesnot | Getty Images Investors likely won’t get their fix for newly public companies for a long time thanks to the financial turmoil caused by the spreading coronavirus. Logistics issues aside for investment bankers unable to travel, market volatility like this scares off companies who want to raise capital. The initial public offering calendar is
Hero Images | Getty Images This week’s market activity probably wasn’t the shot of confidence you were hoping for if you’re retired or planning to retire soon. And your first instinct is probably to protect your retirement income. Yet experts caution that the worst way to do that is to take dramatic actions with your
Natale Servino, general manager of Servino Ristorante Jeniece Pettitt | CNBC Servino Ristorante, an upscale Italian restaurant in Tiburon, California, is a short drive or ferry ride from San Francisco, where scores of software and internet companies have emerged over the past decade. Normally the 42-year-old restaurant, with picturesque views of the Bay, benefits from
Brian Cornell, the Chairman and CEO of Target Corporation, reaches out and shakes hands with U.S. President Donald Trump after the president declared the coronavirus pandemic a national emergency during a news conference in the Rose Garden of the White House in Washington, U.S., March 13, 2020. Jonathan Ernst | Reuters President Donald Trump and
Morning traffic makes its way along a freeway in Los Angeles, California, September 19, 2019. Mike Blake | Reuters The coronavirus pandemic has stoked concerns of a global economic recession as it spreads across the world, igniting one of the sharpest oil price plummets in the last 30 years and causing the biggest stock plunge
The end to the record-long bull market is now a reality. However, entering a bear market doesn’t always mean a recession is upon us, history shows. This week, the S&P 500 and the Dow Jones Industrial Average entered bear markets, ending their historic 11-year bull runs. A bear market marks a 20% decline from all-time highs. As a
DenisTangneyJr Students at Georgetown College in Kentucky received a one-two punch of bad news this week. Amid the coronavirus, classes would be moved online until at least April and most students would need to vacate their dorms. Oh, and they shouldn’t expect a refund. “[T]he college is not in a financial position to offer any rebates
The Norwegian Cruise Line Norwegian Bliss cruise ship passes through John Hopkins Inlet in Glacier Bay, Alaska, July 11, 2019. Tim Rue | Bloomberg | Getty Images The coronavirus pandemic has brought the bulk of the cruise industry to a standstill as Royal Caribbean and Norwegian Cruises announced Friday the suspension of operations. Norwegian Cruises
The Citibank Corporate Office & Headquarters is viewed in midtown Manhattan. Kevin Winter | Getty Images This is a breaking news story. Please check back for updates. An employee from Citigroup’s Manhattan office tested positive for the coronavirus, the Wall Street firm said Friday. The employee was diagnosed in Singapore on Friday while on personal travel.