Month: March 2020

With strikes and a ‘sick out,’ some grocery and delivery workers take defiant stance: One-time bonuses, temporary pay hikes aren’t enough

A cashier wears gloves while scanning the groceries of a customer at a Whole Foods in Cambridge, MA on March 24, 2020. Erin Clark | The Boston Globe via Getty Images Temporary wage hikes. Special bonuses. Paid sick time. In recent weeks, tensions are on the rise between grocery workers and their employers, spurring many …

With strikes and a ‘sick out,’ some grocery and delivery workers take defiant stance: One-time bonuses, temporary pay hikes aren’t enough Read More »

Stocks making the biggest moves after hours: Verint Systems, HP, Fiat Chrysler and more

A Jeep Renegade rolls down an assembly line at Fiat Chrysler’s Melfi assembly plant in Italy in 2015. Michael Wayland / CNBC Check out the companies making headlines after the bell. Verint Systems — Shares of the analytics company tumbled 12% in extended trading after Verint Systems missed analysts’ estimates on both earnings and revenue in …

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Large investors still say they aren’t ready to sell as coronavirus crisis continues

Investors grew increasingly concerned about the U.S. economy and the stock market as March wore on, but they also said they aren’t ready to abandon their stocks, according to several surveys. The vast majority of the institutional clients surveyed by Citi expect an economic downturn and earnings estimates to be cut further in 2020, but they …

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When will the money arrive? Here are answers to your questions about the coronavirus stimulus checks

NoDerog | E+ | Getty Images Those government stimulus checks should be on their way soon to millions of Americans. Many people have still have a lot of questions about them. Last week, Washington lawmakers approved a $2 trillion relief bill in response to the coronavirus outbreak that includes a payment of $1,200 for single taxpayers …

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4 ways the coronavirus law pays small businesses to keep workers

A tattoo parlor is temporarily closed in the Brooklyn Borough of New York, U.S., on Friday, March 20, 2020. Photographer: Gabby Jones/Bloomberg via Getty Images Bloomberg The $2 trillion coronavirus relief law signed by President Trump last week has several incentives for struggling businesses to retain their employees instead of laying them off. The financial …

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Coronavirus will hit profitability of Asia Pacific banks through 2021, says Fitch

Chinese customers wear protective masks as they line up single file to buy dumplings at a popular local shop on February 16, 2020 in Beijing, China. Kevin Frayer | Getty Images Asia Pacific banks will find it increasingly challenging to maintain their financial performance as economies around the world get hit by the coronavirus pandemic, …

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SEC chair: We shouldn’t ban short selling — it’s needed for properly functioning market

SEC Chairman Jay Clayton said Monday that the practice of short selling — effectively betting that a stock will drop — is needed to “facilitate ordinary market trading.” “We shouldn’t be banning short selling,” Clayton told CNBC’s “Squawk Box.” However, he said the Securities and Exchange Commission did replace the old uptick rule with a …

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Op-Ed: Here’s how to safely take money from your retirement account under stimulus bill

I drafted a notice to my firm’s clients so they can have a clear understanding of the provisions in the CARES Act, the $2 trillion economic rescue bill that President Trump signed into law last week. I wanted to share some of this information. I am only including information about how the act actually impacts …

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Airline workers might not be cut but in coronavirus travel collapse their paychecks will be smaller

Delta Air Lines passenger planes are seen parked due to flight reductions made to slow the spread of coronavirus disease (COVID-19), at Birmingham-Shuttlesworth International Airport in Birmingham, Alabama, U.S. March 25, 2020. Elijah Nouvelage | Reuters Employees of airlines struggling with a record plunge in demand won a reprieve in the $2 trillion coronavirus bill: …

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Stocks making the biggest moves after hours: RH, Domino’s Pizza, Marathon Oil and more

Interior Design area of the Restoration Hardware store in the Meatpacking District of New York.  Source: RH Check out the companies making headlines after the bell. RH — The home furnishings retailer’s stock fell 11% in extended trading after the company missed analysts’ estimates on revenue during the fourth quarter. RH reported revenue of $665 …

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Richard Branson’s rocket company Virgin Orbit to begin mass producing ventilators

The Virgin Orbit ventilator device. Virgin Orbit Richard Branson’s California-based rocket company Virgin Orbit partnered with medical researchers and developed a ventilator device that the company plans to mass produce and send to hospitals around the United States to fight the coronavirus. “[It is] a very, very simple and robust design that we can get out …

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Small-business owners face tough decisions as they wait for government loans to arrive

Jeanie Wright was planning for a year of major growth in 2020 with her confection business, Alaskan Sweet Thing’s. The company makes gourmet taffy, popcorn, fudge and more from glacier water, selling online and at its retail location. A big part of her business comes from tourists traveling to Alaska, as the state has become …

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Johnson & Johnson says human testing of its coronavirus vaccine to begin by September

Johnson & Johnson said on Monday human testing of its experimental vaccine for the coronavirus would begin by September and that it could be available for emergency use authorization in early 2021. J&J also said it had committed more than $1 billion of investment along with U.S. agency Biomedical Advanced Research and Development Authority to …

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Stocks making the biggest moves in the premarket: J&J, Sanofi, Regeneron, La-Z-Boy, Apple & more

Take a look at some of the biggest movers in the premarket: Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use …

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Cramer warns stock market short sellers about betting against science in coronavirus crisis

Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer argued Monday that stock market short-sellers are unwisely doubting the ability of scientists to slow the spread of the new coronavirus. “This is a day where you say, if I’m short I’m betting against science, not betting against the lackadaisical attitude of many people in the country, ” …

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Op-Ed: With today’s market volatility, the ‘4% rule’ creates risk for America’s retirees

For decades, financial advisors have counseled clients that they should be able to safely withdraw 4% of their assets each year as a means of providing income, while maintaining an account balance large enough to keep income flowing through retirement. While some of the underlying thinking behind the so-called 4% rule was prudent, it was …

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Coronavirus could disrupt how you handle your credit card debt

Getty Images The coronavirus has put the brakes on the economy. However, many individuals still face due dates for payments on lingering credit card balances. A new survey from CreditCards.com finds that 59% of credit card holders – or 110 million adults – entered the coronavirus pandemic  and subsequent slowdown with credit card debt. Many …

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The historic $2 trillion CARES Act will be an economic lifeline for gig workers and freelancers

President Donald Trump signs the $2.2 trillion coronavirus aid package bill as White House Economic Council Chairman Larry Kudlow, Treasury Secretary Steven Mnuchin, Senate Majority Leader Mitch McConnell (R-KY), House Minority Leader Kevin McCarthy (R-CA), Vice President Mike Pence and Rep. Kevin Brady (R-TX) watch in the Oval Office of the White House in Washington, …

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