Federal Reserve officials called into action to rescue the economy from the clutches of the coronavirus worried about longer-lasting impacts from the pandemic including a second round of infections and the burden that low-income households would face, minutes released Wednesday from the central bank’s April meeting showed. The meeting, which ended April 29, concluded with
Month: May 2020
Ricky Sandler, founder and chief executive officer of Eminence Capital LP, speaks during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Tuesday, May 1, 2018. Patrick T. Fallon | Bloomberg | Getty Images A hedge fund chief who had a bullish view of the stock market when
Bottles of Johnson & Johnson baby powder line a drugstore shelf in New York. Lucas Jackson | Reuters Johnson & Johnson said Tuesday that it is discontinuing its talc-based baby powder in the United States and Canada as the company faced mounting lawsuits that said it caused cancer and demand fell. J&J attributed the decline
Patrick T. Fallon | Bloomberg | Getty Images Home Depot is set to report its first-quarter earnings before the bell on Tuesday. While coronavirus restrictions have slowed or suspended construction in much of the country, Home Depot’s earnings will offer insight into the demand for do-it-yourself projects, kitchen appliances and gardening supplies as many Americans
DTP | Getty Images Add robocalls to scammers’ methods of capitalizing on the coronavirus crisis. As Americans adjust to life in the midst of a global pandemic, roughly a quarter of individuals say they’ve experienced an increase in robocalls and about 20% have received a call or text regarding the illness, according to a survey
Entrepreneurs and small business owners across the country have undoubtedly been hit hard by today’s pandemic with many non-essential businesses remaining closed until further notice. Though the federal government has stepped in to offer more than $600 billion in financial assistance through the Paycheck Protection Program (PPP) under the Coronavirus Aid Relief and Economic Security
Pedestrians pass in front of an Urban Outfitters store in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Urban Outfitters — The clothing retailer’s stock tumbled 5% in extended trading after the company released its first-quarter financial results. Urban Outfitters reported a loss of $1.41 per share on
JPMorgan Chase CEO Jamie Dimon said Tuesday in a memo that the coronavirus crisis should be used to build an economy that offers opportunities for “dramatically more people.” “It is my fervent hope that we use this crisis as a catalyst to rebuild an economy that creates and sustains opportunity for dramatically more people, especially those
A lot of people ask StarTalk Radio host Neil deGrasse Tyson if extraterrestrial life exists and why haven’t we encountered any alien life yet. “Maybe they have visited us in Times Square,” Tyson tells us. “But no one noticed because everybody who hangs out in Times Square is just a little crazy.” A more serious
Corporate debt issuance has been on the rise in recent years, and demand from investors is spiking. Companies have taken advantage of the situation to issue bonds with low borrowing costs. But, as the FT explains, the money isn’t necessarily translating into economic innovation. ► Check out our Community tab for more stories on the
Chipotle was founded in Denver in 1993 and grew to be one of the most successful fast-food companies ever. This video explains how Chipotle founder Steve Ells turned his love of burritos into a chain of about 500 restaurants over the past twenty years. Like this video? Subscribe to Bloomberg Business on YouTube: http://www.youtube.com/Bloomberg
Venture capitalist Peter Thiel tells Google Chairman Eric Schmidt the company has no idea how to invest its money.
Americans lined up to buy goods at supermarkets like Costco Wholesale and Walmart as fears over COVID-19 pandemic in New Jersey, United States on April 18, 2020. Tayfun Coskun | Anadolu Agency | Getty Images As states lift stay-at-home orders, Walmart customers have started to shop for more clothes and discretionary items. The retailer is getting
People wearing masks and gloves wait to enter a Walmart on April 17, 2020 in Uniondale, New York. Al Bello | Getty Images Walmart is set to report its first-quarter earnings before the bell on Tuesday. The big-box retailer has kept stores open as an essential retailer during the coronavirus pandemic. To meet demand, it hired 200,000
Thomas Barwick Lawmakers may allow savers to undo last year’s mandatory withdrawals from retirement accounts. The $3 trillion HEROES Act – the latest round of proposed federal coronavirus relief legislation – was passed by the House last Friday. Aside from granting households another batch of $1,200 stimulus payments and granting student loan relief, the measure
The number of women running Fortune 500 companies has hit a new record, according to this year’s Fortune 500 list. Currently, there are 37 women leading Fortune 500 firms, an increase from last year’s 33 women, which at the time, was a record high. This new addition of women is the result of several leadership changes
A shopper prepares to pay for items at a Kohl’s department store in Peru, Illinois, May 16, 2019. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Moderna — Shares of the biotech company fell by more than 5% on Tuesday after Moderna announced a secondary stock offering that would
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York. Michael Nagle | Bloomberg | Getty Images Dennis Lynch steers a mutual fund whose bets on Amazon and Zoom Video have helped it beat the market by more than 30% so far this year, but he isn’t isn’t
U.S. President Donald Trump speaks during an event at the White House in Washington, D.C., U.S., on Friday, May 15, 2020. Stefani Reynolds | Bloomberg | Getty Images President Donald Trump said Monday that he has been taking anti-malaria drug hydroxychloroquine for over a week to prevent coronavirus infection even though it is not yet
As part of the House bill passed on Friday to deliver relief to a battered economy, people with student debt would get some more elbow room. The U.S. Department of Education has already announced that due to the pandemic, federal student loan borrowers don’t need to make payments on their loans until at least October. And during
Even though he doesn’t win them all, billionaire investor Mark Cuban has an eye for vegan companies on ABC’s “Shark Tank.” But when Cuban invested in a vegan, non-GMO soap and body care company during Friday’s episode, his fellow Sharks thought he was crazy to do so. Three best friends – Anthony Duncan, with brothers Mohammed A. and
It may be premature to turn bullish. Despite Monday’s massive rally, Canaccord Genuity’s Tony Dwyer finds stocks haven’t broken out of the ‘”frustration” stage of the recovery. He breaks down the post-market crash environment into three phases: Panic, relief and frustration. “Once you crash, you go into a panic phase,” the firm’s chief market strategist
Fluffy comedian Gabriel Iglesias owns a $3 million collection of classic Volkswagen Buses. He keeps them in his enormous personal museum that resembles Volkswagen’s most famous German factory. His car collection also includes several very rare Beetles and muscle cars. For more, visit: Home MORE CARS INSIDER CONTENT: Collector Owns Two Rare Microcars Inside One
The Royal Air Force is leaping towards the future with the arrival of the new F35 fighter jets but the threat picture is shifting fast and uncertainty surrounds the UK defence budget. As the RAF marks its 100th year the FT’s David Bond explores what all this means for British air power. ► Subscribe to
Sept. 7 (Bloomberg) — Michael Burry, the former head of Scion Capital LLC who predicted the housing market’s plunge, talks with Bloomberg’s Jon Erlichman about the financial crisis and the housing market. (Source: Bloomberg)
Black hair is big business ? an estimated $2.7 billion industry in hair care alone. In recent years, the dramatic shift away from chemical relaxers in favor of natural hair has sparked a wave of innovation in the industry and created renewed opportunity for black entrepreneurs.
BSIP | Universal Images Group | Getty Images Routine vaccinations for young children in the United States fell during the first half of this year as more Americans skipped routine doctor visits and stayed home due to the coronavirus pandemic, according to a report published Monday by the Centers for Disease Control and Prevention. The
Don Bayley | Vetta | Getty Images Retirees who feel their Social Security benefits aren’t stretching as far as they used to aren’t imagining it. Retiree costs are going up at a rapid clip, and Social Security cost-of-living adjustments are not keeping up with those growing expenses, according to a recent report from The Senior
Ariel Skelley Like everybody else in the country, David Yeske is getting a bit stir crazy. For the last eight weeks, the founder of registered investment advisor Yeske Buie has been managing his advisory practice and serving his roughly 500 clients from his home in San Francisco as the coronavirus has spread across the country.
If you’re out of book ideas headed into another month of staying at home, or finally ready to crack one open, Bill Gates has some suggestions. The billionaire released his annual summer book list on Monday. Whether you want to learn more about pandemics amid the coronavirus outbreak or are simply looking for a distraction, Gates has
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