A technician at Regeneron Pharmaceuticals headquarters in Tarrytown, New York. Mike Segar | Reuters A rheumatoid arthritis drug made by Regeneron and Sanofi showed promise for treating the sickest coronavirus patients in a clinical trial but was not beneficial for patients with less-advanced disease, prompting the companies to stop testing the medicine in that group. The drug,
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Monty Bennett and executives from Braemar Hotels and Resorts ring the closing bell at the NYSE on April 25th, 2018. Source: NYSE Even as the U.S. small business relief program is set to reopen Monday with fresh funding, the full extent that public companies tapped the emergency facility is only now becoming clear. More than
Father-daughter team Steve and Leah Kim model the masks their New York City alterations business, Master Tailor, started making when the coronavirus hit. When New York City largely shut down last month due to the spread of Covid-19, it was a devastating blow for some businesses. That included the Master Tailor, an alteration shop on
Charging Bull Statue is seen at the Financial District in New York City, United States on March 29, 2020. Tayfun Coskun | Anadolu Agency | Getty Images Stocks futures fell slightly on Sunday night, following oil prices lower, while investors assessed the possibility of re-opening the global economy after the coronavirus outbreak. Dow Jones Industrial Average
Geology is the study of pressure and time. That’s all it takes really… pressure… and time. Red Redding “The Shawshank Redemption” Pressure. Time. And a big gosh darn supertanker. Apologies for altering one of Morgan Freeman’s most famous lines in movies, but it had to be done to fit the oil drama that’s playing out
From baking to puzzles, the Covid-19 quarantine might have you turning to hobbies that you never had time for before. If you’re looking for a calming weekend art project, Disney has free drawing classes on YouTube. You can learn how to draw some of the most popular Disney characters, from Elsa from “Frozen” to Goofy.
On March 27, President Donald Trump signed a $2 trillion stimulus bill to help individual workers and small businesses cope with the economic downturn of the coronavirus pandemic. Under the bill, individuals will receive a one-time check of $1,200 if they earn an adjusted gross income of $75,000 or less, and they will receive a
Fabian Videla Source: Fabian Videla In March, Fabian Videla realized that his 20-year-old construction and renovation company, Smarter Remodeling,in Jacksonville, Florida, might not survive the coronavirus outbreak. “People started canceling sales appointments,” Videla, 49, said. “Current customers were apprehensive about letting crews in their houses. All of a sudden, it was a massive shutdown.” Soon,
The S&P 500 is almost 30 per cent off its lows despite 22m US initial jobless claims; the FT’s US finance editor Robert Armstrong tries to resolve this apparent contradiction. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132 ► Check out our Community tab for
Employee Linda Tarkenton holds a blank U.S. Treasury check before it’s run through a printer at the U.S. Treasury printing facility in Philadelphia. Getty Images People who receive benefits through either the Department of Veterans Affairs or Supplemental Security Income who have children have a new deadline if they want to get all of the
Comstock | Stockbyte | Getty Images “Scary,” “unbelievable,” “so dramatic,” “unprecedented,” “very visceral”: These are among the choice words Wall Street veterans used to describe what was, for the oil market, a week for the history books. On Monday, for the first time on record, West Texas Intermediate (WTI), the U.S. oil benchmark, plunged below
CNBC Make It is posting a new financial task to tackle each day for a month. These are all meant to be simple, time-sensitive activities to take your mind off of the news for a moment and, hopefully, put you on sturdier financial footing. This is day 18 of 30. Bank account fees keep climbing. The
As bars and restaurants remain shuttered in response to the coronavirus pandemic, Boston Beer is turning millions of dollars of expired beer into ethanol to recoup some of its lost sales. Beer sales rose 11.6% in the week ended April 11, according to Nielsen data, as consumers drink more at home. But the spike doesn’t benefit craft
The COVID-19 pandemic has forced millions of Americans to work from home. But when it’s all over, many people are thinking that trip from the kitchen to the living room may not be such a bad commute. States of Play, a joint CNBC/Change Research survey of swing states, finds 42% of respondents nationwide saying they
If you’ve been quarantined due to Covid-19 stay-at-home orders, you might be eager to travel again — or at least visit your favorite places. Thanks to virtual reality (VR), it is possible to “visit” places around the world without leaving home. Experts say these virtual excursions provide more than just entertainment; VR experiences, especially immersive
A Sierra Wireless display at a trade show. Source: Sierra Wireless Lion Point Capital, run by alumni of Elliott Associates, Perry Capital and Starboard Value, struck an agreement this month with Sierra Wireless, a struggling telecom hardware maker that’s trying to become a software company. We believe Lion Point has a good chance at getting
Getty Images More than 88 million individuals received a stimulus check from the IRS in the last three weeks, according to data from the federal agency. The Treasury Department and the IRS have distributed a total of $157.9 billion in so-called Economic Impact Payments. The federal government began depositing the cash into taxpayers’ bank accounts
Saudi Aramco crude oil storage at Ras Tunura, Saudi Arabia. Planet Labs The coronavirus crisis led to an unprecedented collapse in demand for oil and U.S. prices have rapidly fallen over the past week. In order for the price to stabilize, U.S. producers have to further cut their production or be forced to curb it
Images By Tang Ming Tung The financial hardships many Americans are now facing may have an unintended effect on their children — it may actually help their kids develop a money mindset very early. Just like children of the Depression emerged as frugal spenders, those experiencing the coronavirus pandemic may also learn important financial lessons.
Despite outrage on Main Street and new pressure from the Treasury Department this week, several publicly traded companies that received payroll relief funds from the Small Business Administration oppose demands to return the cash. The companies said the Paycheck Protection Program loans have allowed them to keep employees on payroll and that they disagree with
California governor Gavin Newsom Rich Pedroncelli | Pool | AP California Gov. Gavin Newsom announced the launch of a new program Friday called “Restaurants Deliver: Home Meals for Seniors,” which will use local eateries to prepare and deliver free food for older adults in need. Created through a partnership with the Federal Emergency Management Agency,
Boeing is once again pushing back the time frame for when it expects to have the 737 Max recertified for flight as the coronavirus pandemic hinders progress. Sources familiar with the latest expectations for fixing the Max tell CNBC that the plane is unlikely to be given the green light until late summer. That is
President Donald Trump speaks as Treasury Secretary Steven Mnuchin listens during the daily briefing on the novel coronavirus, COVID-19, in the Brady Briefing Room of the White House in Washington, DC on April 21, 2020. Mandel Ngan | AFP | Getty Images The Small Business Administration said Friday that hedge funds and private equity firms
Peloton CEO John Foley celebrates at the Nasdaq MarketSite before the opening bell and his company’s IPO, Thursday, Sept. 26, 2019 in New York. Mark Lennihan | AP Shares of Peloton finished the day up more than 6% Friday after the company said it held its largest class ever earlier this week, with more than
A view of baggage claim at the United Airlines terminal at Los Angeles International Airport (LAX) during the outbreak of the novel coronavirus, which causes COVID-19, April 16, 2020, in Los Angeles. VALERIE MACON It’s clear that Americans have slowed their spending drastically as many industries essentially grind to a halt amid the coronavirus pandemic and
The 2020 NFL draft took place virtually on Thursday night. The Cincinnati Bengals selected former LSU standout Joe Burrow with the first pick. The 23-year-old quarterback, who is among a select few to have won the Heisman Trophy and a national championship in the same season, celebrated from his home in Athens County, Ohio, with his
As the U.S. economy has slowed to stem the surge of coronavirus, unemployment levels have hit record highs. Since March 16th, roughly 26.4 million Americans have filed for unemployment. But each state has been affected differently by the health and economic impacts of coronavirus. And now, a small number of states have started to push
A customer browses products at a Walmart store in Burbank, California Patrick T. Fallon | Bloomberg | Getty Images U.S. consumer sentiment fell for a third straight month as people weigh the coronavirus pandemic and the possibility of an economic re-opening, data released Friday by the University of Michigan showed. The consumer sentiment index fell
Source: American Express Credit card issuer American Express posted a 76% drop in first-quarter profit on Friday, as it set aside $2.6 billion to cover potential losses stemming from the coronavirus outbreak. The pandemic has hammered the global economy, pushing companies to layoff employees by the millions. That, in turn, could weigh on credit card
Long-time professional traders watching the near implosion of the United States Oil Fund could only watch in wonder. “It tells me people always want to make a quick buck,” said John Davi, chief investment officer and founder of Astoria Portfolio Advisors. He was referring to retail investors who lost a boatload of money investing in
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