Month: March 2020

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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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
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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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Ford Motor and GE Healthcare plan to produce 50,000 ventilators within the next 100 days at a facility in Michigan to assist with the coronavirus pandemic. Production of the critical care devices is expected to begin with 500 United Auto Workers union members the week of April 20, according to executives at both companies. Ford’s Rawsonville
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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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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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Mike Wilson, Chief U.S. Equity Strategist and Chief Investment Officer at Morgan Stanley. Adam Jeffery | CNBC Investors should be taking advantage of the market’s steep coronavirus-driven sell-off from February highs, Morgan Stanley‘s Mike Wilson told CNBC on Thursday.  “We’ve been scaling back into stocks over the last two, three or four weeks. We’re not
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Federal Reserve Chair Jerome Powell holds a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters The Mortgage Bankers Association in a dire letter to regulators Sunday warned that the U.S. housing market is “in danger of large-scale disruption,” due to efforts by the Federal Reserve
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U.S. airlines and the Department of Transportation may soon have to consider consolidating service to dozens of cities around the country in a bid to help carriers cut losses, several airline industry executives told CNBC. Executives with U.S. airlines are expected to meet with leaders of the Transportation Department this week to discuss the state
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College acceptance letters are already in the mail. Now high school seniors must decide their fate for September. Up until now, National College Decision Day, the deadline for high school seniors to choose which college they will attend, has always been May 1. This year, however, the global coronavirus pandemic and extreme economic uncertainty have pushed many
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Paul Tudor Jones Kevin Mazur | Getty Images Hedge fund manager Paul Tudor Jones said Thursday investors should commend Washington’s policy response to the economic shock from the coronavirus pandemic.  “Investors can take heart that we’ve counteracted this existential shock with the greatest fiscal, monetary bazooka. It’s not even a bazooka. It’s more like a nuclear bomb,”
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Hank Paulson David Orrell | CNBC Former Treasury Secretary Hank Paulson warned that the U.S. faces a “very difficult road ahead” after President Trump signed a historic $2 trillion coronavirus relief bill.  Paulson, a key figure in helping the country avoid economic catastrophe during the 2008 financial crisis, drew on his experience from that tumultuous period
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FT economics commentator Martin Sandbu analyses the emergency fiscal and monetary measures being taken to deal with the global financial and economic fallout from coronavirus. 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 more stories on the economy.
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The stock market has gone so haywire amid the coronavirus crisis that some strategists on Wall Street are giving up on forecasting what comes next. Over the past week or so, chief market strategists at BMO, Oppenheimer and Canaccord Genuity have all suspended their year-end targets on the S&P 500, blaming the unprecedented economic uncertainty that makes projecting
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