An exterior view of the building of the International Monetary Fund (IMF), with the IMG logo, is seen on March 27, 2020 in Washington, DC. OLIVIER DOULIERY The global economy will this year likely suffer the worst financial crisis since the Great Depression, the International Monetary Fund said Tuesday, as governments worldwide grapple with the
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A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson shares rose by more than 3% Tuesday in premarket trading after the U.S. drugmaker raised its quarterly dividend even as it cut full-year earnings guidance due to the coronavirus outbreak. J&J raised its dividend from 95 cents a
People need to get back to work — and will likely spend weeks in the office — before they get back in the mall, according to the owner of Hudson Yards in New York. “My guess is we go back to offices first,” Related Companies CEO Jeff Blau told CNBC’s Andrew Ross Sorkin on Tuesday. “I think
Getty Images If you’d planned on making a payment to the IRS on April 15 and now want to reschedule due to the coronavirus pandemic, you’re running out of time. In March, the IRS and Treasury Department announced it would give taxpayers until July 15 to file their 2019 income tax returns and make any necessary payments.
Reported COVID-19 cases around the world approached two million on Monday, doubling in 11 days as World Health Organization officials caution patience before lifting social distancing restrictions. Covid-19 has infected more than 1,918,855 people around the world and killed at least 119,588 people, according to data compiled by Johns Hopkins University. Hopkins’ data previously showed that the cases had passed
While the coronavirus pandemic has stalled much of the world’s activity, China has kept up its aggression in the disputed South China Sea — actions that analysts said could deepen the mistrust between Washington and Beijing. China’s continued hostility toward its Southeast Asian neighbors in the contested waters appear at odds with the soft power that
The Roku 3 television streaming player menu is shown on a television in Los Angeles, California, U.S., on Thursday, Sept. 12, 2013. Patrick T. Fallon | Bloomberg via Getty Images Check out the companies making headlines after the bell. Roku Inc — The television streaming platform’s stock soared 9% in extended trading after the company estimated
10’000 Hours We are still shopping. But we’re shopping differently. Walmart is selling more tops and fewer pants. Jigsaw puzzles are having a moment. Streaming subscription services are offering longer free periods, and demand is sky-high. In the beginning, people were also panic-buying groceries to be sure they were stocked up. “Now that the normal
Jim Hackett of Ford Motor speaks at an event during the 2018 North American International Auto Show (NAIAS) in Detroit, Michigan, U.S., on Jan. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Ford Motor shares dropped by about 3% after the automaker warned of a 15.7% drop in first-quarter revenue as the coronavirus depresses sales
Republican billionaire Ken Langone praised the health-care industry, public service workers and drug companies in the fight against the coronavirus but bashed the news media. In an interview Monday on CNBC’s “Squawk Box,” Langone said the media’s coverage of the Trump administration’s efforts against the outbreak is too aggressive because the country needs to be united. ”Don’t
JPMorgan kicks off earnings season on Tuesday. The bad news: Short-term guidance will be very ugly. But there’s some good news: 1) The Securities and Exchange Commission has told corporations that this earnings season is not routine and has encouraged companies to provide forward-looking guidance, and not be concerned that the information may change rapidly.
Take a look at some of the biggest movers in the premarket: Caterpillar (CAT) – The heavy equipment maker’s stock was downgraded to “underperform” from “neutral” at Bank of America Securities, which points to a severe capital spending downturn in key Caterpillar markets. Dunkin’ Brands (DNKN) – Credit Suisse gave the restaurant chain’s stock a
A pedestrian walks past a branch of ICICI Bank Ltd. in Mumbai, India, on Saturday, Oct. 19, 2013. Dhiraj Singh | Bloomberg via Getty Images Big bank stocks in India are falling like nine pins. Some investors believe that the gloominess might be overdone. Shares of private sector banks have had a wretched run of
The U.S. economy is taking a beating from the effects of the coronavirus pandemic and, like most everyone, you’re probably feeling some impact from the stock market’s volatility. The Dow Jones Industrial Average plunged in March before soaring again, jumping 400 points on April 9. It’s still down, though, from its high of 29,551 on
Silhouette of Permian Basin pumpjacks taken at dusk, north of Midland, Texas, U.S. in late 2019. Richard Eden | via Getty Images Oil prices moved lower in overnight trading after OPEC and its allies agreed to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that
Neel Kashkari, president of the Minneapolis Federal Reserve, in an interview on February 17, 2016. David Orrell | CNBC Minneapolis Federal Reserve President Neel Kashkari said Sunday he expects the path to economic recovery from the coronavirus pandemic will be a “long, hard road,” pouring cold water on hopes for a “V-shaped” rebound. Kashkari, who
Brandon Colbert Photography As markets careen in response to a near-unprecedented public health crisis that’s brought the U.S. economy to it knees, financial advisors are often the first place worried investors are turning — perhaps after favorite news outlets — for advice, information and solace. While calming clients and working with them to shore up
Jetta Productions | Iconica | Getty Images As the economy craters, small businesses are among the hardest hit. When unemployment claims began to jump nationwide in March, layoffs among small business spiked 1,021% compared to the month before, according to exclusive data compiled by human resource provider Gusto, based on more than 100,000 small businesses nationwide.
Fugitive and former auto magnate Carlos Ghosn tells CNN Business about his escape from Japan and his quest to “clear his name.” #CNNBusiness
A new government tool to file for coronavirus stimulus checks is here, and that’s good news for some Social Security recipients. The government is urging certain individuals to apply using that tool now to make sure they receive timely payments and the full amounts for which they are eligible. This week, the Treasury Department and
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 1,709,000 Global deaths: At least 103,536 US cases: More than 501,600 US deaths: At least 18,777 The data
Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus, during a news conference in Washington, March 3, 2020. Kevin Lamarque | Reuters With a series of moves that take it still deeper
The Wall Street Bull, located in the financial district of New York City. Mike Roy | MCT | Tribune News Service | Getty Images The stock market’s rapid plunge into a bear market this year has been nearly matched by a blistering rally off its lows. Through Thursday’s close, the S&P 500 has rallied nearly
“When we got the order we were non-essential, that was the day we cleared house,” said Suzanna Cameron, 30, the owner of Stems, a flower shop in Brooklyn, New York. After her store was forced to close in response to the coronavirus pandemic, the single mom said she tried to pivot with virtual flower arranging
Unemployment applications are seen as City of Hialeah employees hand them out to people in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. (Photo by Joe Raedle/Getty Images) Joe Raedle Americans are applying for unemployment in record numbers as the coronavirus pandemic has effectively shuttered much of the U.S.
Restaurants in the U.S. are reeling from city- and statewide coronavirus initiatives that shut down many dining rooms essentially overnight. As Americans stay inside and refrain from going out to eat, small and independently owned restaurants are facing massive uncertainty. The National Restaurant Association estimates that 3 million industry employees have already lost their jobs,
kate_sept2004 If you’re paying a financial advisor to guide you through current market havoc, groups representing those professionals want you to nab a tax break for those fees. A quintet of groups representing financial advisors is calling upon Congress to restore a tax deduction for advisory fees. “We think it’s good public policy at any
A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images After weeks of lobbying, fintech companies are officially allowed to take part in the U.S. government’s emergency lending program. PayPal and Intuit QuickBooks announced Friday evening that they were approved by the Small Business Administration to take
File photo of an almost-empty passenger plane. Laurel Chor | Getty Images The country’s largest airlines will have to compensate taxpayers for billions in payroll grants to weather coronavirus, the Treasury Department said Friday, leaving the door open to an aid structure that sparked criticism from labor unions, some lawmakers and industry members. The Treasury
Neil deGrasse Tyson is a renowned astrophysicist who can explain just about everything related to science and outer space. Well, except for one thing. “Dark matter. I get asked what it is. And my best answer is we haven’t a clue. We don’t know what it is,” Tyson tells us. The StarTalk Radio host does
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