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The Fed Transformed: Jay Powell Leads Central Bank into Uncharted Waters The 107-year-old institution has moved faster and farther in just weeks than it did during the entire 2008 financial crisis. Jerome Powell, chairman of the U.S. Federal Reserve, waited to begin a Senate Banking Committee hearing on Feb. 12. Andrew ...
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Furloughs at Macy's, Gannett and Gap signal mounting economic distress Major companies signaled a new wave of economic distress on Monday, sending hundreds of thousands of workers home without pay, as the Trump administration scrambled to get stimulus money to Americans already feeling the weight of unpaid bills.
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Wheat and Rice Prices Surge in Coronavirus Lockdown Consumers are loading up on pasta, rice and bread. Farm supply lines are disrupted. Countries are restricting agricultural exports. The result: Prices of wheat and rice, two of the world's staple grains, are rising sharply. Difficulties moving grain within countries ...
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Amazon fires warehouse worker who organized Staten Island protest An Amazon worker taking part in Monday's protest outside the company's Staten Island warehouse. Courtesy of Make the Road NY. Workers at Amazon's Staten Island warehouse took part in a walkout on Monday afternoon to protest what they say are unsafe ...
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Airbnb will give $250 million to hosts who lost income due to coronavirus Home sharing company Airbnb Inc. said it will give $250 million to hosts on its platform who have lost money from coronavirus-related cancellations at their properties. The startup, whose plans to go public this year have been thrown into question, has ...
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JPMorgan plans to raise up to $10 billion for alternative investments: source (Reuters) - JPMorgan Chase & Co's (JPM.N) alternative investments unit is looking to raise up to $10 billion to boost its spending power in the face of the coronavirus pandemic, a source familiar with the matter said on Monday. The bank plans to raise $5 ...
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Cronos Group Stock Rises Cautiously on Q4 EPS Beat, Revenue Miss In a rare occurrence for the marijuana industry, a notable stock in the sector has reported a net profit. This happened Monday with Cronos Group (NASDAQ:CRON), which published its Q4 of fiscal 2019 results. The quarter saw the company reap just over $7.3 ...
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American Airlines plans to apply for coronavirus aid, offers partial pay for employee leave American Airlines said it will apply for government coronavirus aid and that it expects it will get $12 billion. The company will now offer partially paid leaves and early retirements to entice employees to take that option. American and other airlines are slashing ...
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J&J, Moderna sign deals with US to produce huge quantity of possible coronavirus vaccines (Reuters) - The U.S. government has cut deals with Johnson & Johnson (JNJ.N) and Moderna Inc (MRNA.O) and said it is in talks with at least two other companies to prepare them to produce massive quantities of coronavirus vaccines even before safe and ...
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Shares of Amarin Down 68% After Losing a Patent Lawsuit for Vascepa Shares of Amarin (NASDAQ:AMRN) were down 68% at 7:27 p.m. EDT in after hours trading, after a judge in the U.S. District Court of Nevada ruled for generic-drug makers Hikma Pharmaceuticals (OTC:HKMPY) and Dr. Reddy's Laboratories (NYSE:RDY) in a ...
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Coronavirus and cruises: Companies extend operation suspensions during outbreak Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Cruise lines around the world have extended the suspension of upcoming voyages due to the global coronavirus pandemic. Many have delayed future excursions ...
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Goldman Touts 'Safe' Bets When S&P 500 Dividends Set to Drop 25% Dividends from corporate America are poised to tumble this year, but there are pockets of promise for investors looking for safe income, according to strategists at Goldman Sachs Group Inc. While payouts among S&P 500 companies could drop 25% this year, ...
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Fiat Chrysler temporarily cuts pay by 20% for salaried workers amid coronavirus pandemic The pay cuts, according to a Monday letter from CEO Mike Manley obtained by CNBC, will begin Wednesday. Manley also will take a 50% cut in his salary and members of the Group Executive Council (GEC), the company's highest executive decision-making ...
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Ex-Boeing Exec to Lead Amazon Drone Delivery Biz For years, Amazon (NASDAQ:AMZN) has been mulling the best way to deliver its packages by drone. Now, the company is bringing in an outside executive from Boeing to make it happen. As CNET reports (and LinkedIn confirms) today, Amazon this month ...
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Gov. Beshear warns big-box stores about heeding social distancing guidelines HIGHLAND HEIGHTS, Ky. (WKRC) - Kentucky Gov. Andy Beshear gave a stern warning to big-box retailers and golf courses over the weekend: Ensure social distancing is being practiced or risk an order to close. "We're going to have to ask that either those ...
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Coronavirus Is Threatening Facebook's Business Model In the month since the coronavirus pandemic began exploding across the U.S., Facebook has pledged to spend more than $200 million. Two weeks ago, the company said it would give away $100 million in grants to small businesses affected by the outbreak, ...
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Jackson County issues letter of non-compliance to Independence Bass Pro, ordering them to close INDEPENDENCE, Mo. — Health officials are seeking to force the closure of Bass Pro in Independence, as the county battles the coronavirus pandemic. A spokeswoman for the Jackson County Health Department said Monday that a letter of non-compliance ...
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Comcast says voice and video calls have skyrocketed 212 percent during widespread self-isolation Voice and video calls have more than tripled on Comcast's network over the past month since people across the US started working from home due to the COVID-19 pandemic. In a blog post this afternoon, Comcast said traffic for that category is up 212 ...
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Spirit cancels New York, Connecticut, New Jersey flights after CDC warning Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below. Low-cost U.S. carrier Spirit Airlines Inc said on Monday it will cancel all flights to and from New York, Connecticut and New Jersey after U.S. ...
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FDA grants emergency authorization to system that decontaminates N95 respirator masks for re-use The global coronavirus pandemic has meant that there's a widespread effort to develop and advance creative solutions to new problems, like worldwide shortages of necessary front-line medical equipment. One piece of gear that's necessary for protecting the ...
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Gap and Ascena Retail announce retail-employee furloughs Gap Inc. GPS, -4.75% , which owns the Gap, Banana Republic and Old Navy retail chains, and Ascena Retail Group Inc. ASNA, -10.42% , which operates Ann Taylor and other stores, announced plans Monday to furlough employees amid the spread of ...
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US pending home sales rise 2.4% in February WASHINGTON (Reuters) - Contracts to buy previously owned homes rose for the second straight month in February, the National Association of Realtors said on Monday. The NAR's pending home sales index increased to a reading of 111.5, up 2.4% from the ...
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New multi-use development announced for former Trinity Medical Center site A development group has announced a new multi-use development on the former Trinity/Baptist Montclair Medical Center site. Birmingham Metro LLC says "Arbor Terrace" will span 75 acres and will be the home for a corporate headquarters and multi-use ...
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NC Education Lottery extends temporary closing of its claim centers The NC Education Lottery released a statement Monday, saying the temporary claim centers will remain closed until further notice. The full statement is provided below: "To help protect the safety of lottery players, employees and the public during the ...
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Domino's sales rise faster than expected as coronavirus spreads Domino's Pizza Inc. DPZ, +2.36% says global retail sales are up -- so far, 4.4% in preliminary first-quarter numbers it shared on Monday. The pizza chain, which last week vowed to hire 10,000 more workers, has closed all but a handful of U.S. stores.
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OpenTable will allow people to reserve shopping times at supermarkets OpenTable wants to let you reserve shopping times at supermarkets to help decrease overcrowding and make stores safer for shoppers. OpenTable's new tool will allow you to choose a vacant time slot or join a waitlist at partnered supermarkets and other ...
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Latest list of central Pa. restaurants open for takeout and delivery, as of Monday, March 30 To encourage people to support restaurants during the coronavirus pandemic, we are sharing a list of restaurants open for takeout and delivery. For other resources: Commonwealth Carry Out Facebook group lists food trucks and restaurants throughout ...
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Activist investor Starboard says it has 9.3% stake in software firm Commvault By Svea Herbst-Bayliss. BOSTON (Reuters) - Activist investor Starboard Value LP has built a stake in U.S. data protection and data management software company Commvault, saying in a regulatory filing that it felt the shares were undervalued when it ...
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Roanoke's Earth Fare set to reopen The shuttered Earth Fare in Roanoke's Ivy Market shopping center is set to be revived and reopened. The Asheville-based specialty grocer announced in February that it would close all its locations and filed for bankruptcy. But a group with ties to Earth Fare ...
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Vail Resorts CEO Rob Katz donates $2.5 million to affected employees, resort communities Vail Resorts CEO Rob Katz and his wife, Elana Amsterdam, have announced a donation of more than $2.5 million to provide support for Vail Resorts employees and the mountain towns where the company operates, according to a news release. Katz will ...
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2020 Detroit Auto Show postponed due to coronavirus DETROIT, Mich. — The 2020 Detroit Auto Show has been cancelled due to the coronavirus. This year's show was to take place at the TCF Center, which will now be converted into a temporary field hospital to care for the growing number of coronavirus ...
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Hays County confirms 2 new cases of coronavirus, bringing total to 24 Two additional people in Hays County have tested positive for the coronavirus, bringing the total number of known cases in the county to 24, officials said Monday. Of those people, six have recovered from the illness, Hays County officials said. All 24 are ...
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Costco Changes Hours, Adds Product Limits, and Cuts Some Services Costco (NASDAQ:COST) has decided to close its stores at 6:30 p.m. in order to give its workers more time to stock shelves Monday through Friday. Weekend hours will not change and gas stations will remain open until 7 p.m.. The warehouse club will also ...
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Tesla Model Y Off-Roading Video Gets Hate on Twitter Customers are finally starting to take delivery of the long-awaited Tesla Model Y electric compact crossover, which was announced back in March 2019. Elon Musk has touted a driving range of up to 300 miles and a zero-to-60-mph time as low as 3.5 seconds.
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Kalamazoo breweries offering curbside beer pickup amid COVID-19 pandemic KALAMAZOO, Mich. — While many taprooms are temporarily closed due to the coronavirus disease 2019, or COVID-19, pandemic, some local breweries are offering curbside beer pick up. Kalamazoo breweries such as One Well Brewing and Bell's Brewery ...
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Enterprise Holdings furloughs some workers and cuts pay for others Rental-car giant Enterprise Holdings is furloughing some employees and cutting pay for others as it copes with a coronavirus-related reduction in travel. The Clayton-based company issued a statement Monday saying it "must make some tough decisions in ...
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Coronavirus: FPL to lower bills Florida Power & Light Company announced Monday its plan to lower bills for the second time this year and pass savings to customers amid the ongoing coronavirus (COVID-19) pandemic. Subject to Florida Public Service Commission approval, beginning ...
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Murren: Nevada needs more COVID-19 tests, but competition is stiff from 'bigger states' LAS VEGAS – It's vital for Nevada to test as many people as possible for COVID-19 – but stiff competition for testing materials across the U.S. is a hurdle the state is now navigating. That's according to former MGM CEO Jim Murren, now chair of the Silver ...
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Act Now to Take Advantage of Coronavirus Relief 'Paycheck Protection Program' Program provides cash equal to 2.5 times a small business' average payroll. If borrower maintains payroll through the crisis, the loan will be forgiven. Act fast for consideration. Mar 30, 2020. March 30, 2020 — Second only to the health and lives of thousands ...
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Worker at Amazon fulfillment center in Riverside County tests positive for COVID-19 EASTVALE, Calif. - A worker at an Amazon facility in Eastvale tested positive for COVID-19, the e-commerce giant announced on Sunday. "We are supporting the individual who is recovering," the company said in a statement. "We are following guidelines ...
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FBI Warns of 'Zoom-bombing' After 2 Mass. Schools Have Web Conferences Hijacked In one case, someone yelled profane remarks, while in the other, an unidentified individual displayed swastika tattoos. By Marc Fortier • Published 2 hours ago • Updated 2 hours ago. Pause. 2:04. Americans Share How the Coronavirus Has Affected Them.
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Neiman Marcus to Furlough Employees and Extend Closures (Bloomberg) -- Neiman Marcus Group Inc., which closed all of its stores this month in response to the coronavirus pandemic, is extending the closures and will furlough certain workers in the coming weeks. The luxury retailer's Neiman Marcus, Bergdorf ...
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FDA Provides Update on COVID-19 Diagnostic Review The US Food and Drug Administration (FDA) has provided an update on the review processes and procedures for the authorization of coronavirus disease 2019 (COVID-19) diagnostic tests. "It's critical that the tests used work. False results can also contribute ...
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UAB takes part in preclinical testing COVID-19 vaccine UAB continues to lead the way in the development of a vaccine to prevent COVID-19. In February, we reported that UAB was leading an anti-viral drug trial in Wuhan, China. The trial tested the safety and effectiveness of the antiviral drug Remdesivir.
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