Month: June 2020

A top Centers for Disease Control and Prevention official on Tuesday expressed “substantial disappointment” with American Airlines for announcing that it will resume full flights starting Wednesday.  Sen. Bernie Sanders, I-VT, asked CDC Director Robert Redfield during a hearing on the coronavirus about the new policy, which was announced Friday. Redfield told members of Congress that the
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Micron Technology’s hard drive for data center customers is presented at a product launch event in San Francisco, October 24, 2019. Stephen Nellis | Reuters Check out the companies making headlines in midday trading.  Micron — Micron traded more than 6% higher after the chip manufacturer posted better-than-expected results for the previous quarter. The company posted an
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From January through May, 10.9% of the global population of 2,825 billionaires made confirmed monetary donations to Covid-19 pandemic-related causes, according to a report published Tuesday by Wealth-X, a market research firm covering the world’s wealthiest people.  Other billionaires could have given money through a third party or anonymously, a Wealth-X spokesperson tells CNBC Make It,
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Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II/Getty Images The financial aid that jobless workers have been receiving to shore up household income during the coronavirus pandemic is poised for a dramatic reduction
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ROBERTO SCHMIDT It’s impossible to think about racial injustice in the U.S. without looking at the distribution of dollars.  In many ways that Americans work to establish themselves financially — through the stock market,  net worth and homeownership — Black families trail White families. “To put it simply, we don’t have a level playing field,” said Evelyn Brodkin, an
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Gary Vaynerchuk wishes young people would stop aspiring to make millions of dollars. The 44-year-old self-made multimillionaire entrepreneur and CEO of VaynerMedia says he’s seen that chasing millions makes people unhappy in life.  “If you’re under 25, you think you have to make a million dollars a year to even be in the game,” Vaynerchuk tells
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The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018. Ivan Alvarado | Reuters Amazon Web Services, the cloud-computing branch of the e-commerce giant, is further expanding its services in the growing space industry. The company announced
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Adam Jeffery | CNBC Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard, which warned that investors were over-estimating a quick recovery in U.S. corporate earnings. Charles Dumas, chief economist at the economic research firm, told CNBC Tuesday that ”the
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Jovita Carranza, head of the Small Business Administration, listens during a roundtable discussion with governors and small-business owners. Alex Wong/Getty Images The Paycheck Protection Program is ending, meaning ailing small businesses will need to look elsewhere for funding. But where to turn? While there are other options that may be of help to entrepreneurs during
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Micron Technology’s hard drive for data center customers is presented at a product launch event in San Francisco, October 24, 2019. Stephen Nellis | Reuters Micron Technology on Monday forecast current-quarter revenue above Wall Street estimates as home-bound employees and students spur demand for its chips that power notebooks and data centers, sending its shares
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(L-R) Michael Corbat, chief executive officer of Citigroup Inc., Jamie Dimon, chief executive officer of JPMorgan Chase & Co., James Gorman, chief executive officer of Morgan Stanley, Brian Moynihan, chief executive officer of Bank of America Corp., Ron O’Hanley, president and chief executive officer of State Street Corp., Charles Scharf, chief executive officer of Bank
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Rep. Bobby Rush, D-Ill. Ralf-Finn Hestoft | Corbis | Getty Image The bill, called the Student Recovery Eligibility for Low-Income Individuals to Exact Funds (RELIEF) Act of 2020, would make students receiving Pell Grants eligible to receive $1,200 stimulus checks. Federal Pell Grants are need-based funds given to low-income students to help them complete their
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Philadelphia Phillies right fielder Bryce Harper (3) spits after striking out during the game between the Philadelphia Phillies and the Washington Nationals on September 25, 2019, at Nationals Park, in Washington D.C. Mark Goldman | Icon Sportswire | Getty Images Major League Baseball put out its health and safety protocols, which include “unique features” like
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Fracking giant Chesapeake Energy’s bankruptcy filing comes following a financial mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages, sources told CNBC’s David Faber. CEO Robert D. “Doug” Lawler found in examining the company’s books a $110 million bill for two parking garages, Faber reported
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A Burger King sign outside a restaurant in Glendale, California. Robyn Beck | AFP | Getty Images Burger King’s U.S. same-store sales are trending flat as customers return to its locations for Whoppers and french fries.  The Restaurant Brands International chain saw its same-store sales plunge by mid-30s in March as the coronavirus pandemic led consumers
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Take a look at some of the biggest movers in the premarket: Gilead Sciences (GILD) – Gilead set pricing for its remdesivir anti-viral Covid-19 treatment, with developed-world governments paying $390 per dose and privately insured patients being charged $520 per dose. Intercept Pharmaceuticals (ICPT) – The Food and Drug Administration did not approve the company’s
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Lab technicians load filled vials of investigational coronavirus disease (COVID-19) treatment drug remdesivir at a Gilead Sciences facility in La Verne, California, U.S. March 18, 2020. Picture taken March 18, 2020. Gilead Sciences Inc | Reuters Gilead Sciences announced Monday the pricing for its coronavirus treatment remdesivir, saying it will cost $3,120 for a typical U.S.
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