Month: August 2020

An empty parking lot is seen outside a closed JC Penney Co. store in Mt. Juliet, Tennessee, on Thursday, April 16, 2020. Luke Sharrett | Bloomberg | Getty Images Talks had been progressing with three potential bidders, including the mall owners Simon Property Group and Brookfield, to salvage the department store chain J.C. Penney —
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Getty Images Changes are coming for risk-averse Vanguard investors who are parking cash. Late next month, Vanguard will transition its $125.3 billion Prime Money Market Fund to a government money market fund, investing “almost exclusively” in U.S. government securities, cash and repurchase agreements backed by government securities or cash. The fund will be renamed the
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China’s five largest banks reported their biggest profit declines in at least a decade as they brace for further increases in bad loans in an economy weakened by the coronavirus pandemic. The five lenders — Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Bank of Communications —
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DusanManic | iStock | Getty Images Many people’s retirement dreams received a reality check following the economic downturn caused by the coronavirus pandemic. New research shows that’s especially true for older workers. A recent report from Democrats on the Joint Economic Committee of Congress found that workers ages 65 and up were hit harder by
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DraftKings CEO and Co-Founder Jason Robins speaks during the unveiling of DraftKings headquarters March 26, 2019 in Boston, Massachusetts. Darren McCollester | Getty Images Stocks are once again at record high levels — with the S&P 500 now up over 21% on a one-year basis. That’s following Fed Chair Jerome Powell’s more-relaxed inflation targeting strategy,
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Take a look at some of the biggest movers in the premarket: Coca-Cola (KO) – The beverage giant announced a reorganization which will see the current 17-unit business structure changed to nine business units. The realignment will result in an undetermined number of both involuntary and voluntary job cuts, with Coca-Cola planning to offer voluntary
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Amid one of the worst public-health crises in history, a record number of Americans are without health insurance. John Fedele Amid historic levels of unemployment, as many as 12 million Americans may have lost their health insurance since February, according to a study by the Economic Policy Institute.  “Because most U.S. workers rely on their
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Amazon CEO Jeff Bezos is now worth $202 billion, according to the Bloomberg Billionaires Index. Bezos is the first person to surpass the $200 billion threshold, CNBC reported, and remains the richest person in the world. For this milestone, Bezos can thank his company’s success, as most of his personal wealth is tied to his more than 57
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For thousands of years, agarwood has been known as “The Wood of the Gods.” First-grade agarwood can cost as much as $100,000 per kilogram, making it one of the most expensive raw materials in the world. Aquilaria malaccensis is a tree native to the rainforests of southeast Asia. The healthy heartwood inside Aquilaria trees is
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Patrick T. Harker, president of the Federal Reserve Bank of Philadelphia Charles Mostoller | Bloomberg | Getty Images Philadelphia Federal Reserve President Patrick Harker said Friday that it will take a significant amount of time before the U.S. sees unemployment figures return to their pre-coronavirus lows. Harker, a voting member of the Federal Open Market Committee, also
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Papa John’s International Inc. signage is displayed on top of a delivery vehicle outside of the company’s restaurant in Nashville, Tennessee. Luke Sharrett | Bloomberg | Getty Images As consumers continue to flock to carryout and delivery during the pandemic, Papa John’s has continued its growth streak into August. From July 27 through Aug. 23,
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Gavin Newsom, governor of California. Rich Pedroncelli | AP | Bloomberg via Getty Images California Gov. Gavin Newsom announced on Friday a new framework for individual counties to reopen, outlining the possibility of non-essential indoor businesses and schools to return depending on the coronavirus’ spread in the area.  The state will adopt a four-tiered approach
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An employee demonstrates the Wirecard AG online payment smartphone app on the company’s exhibition stand at the Noah Technology Conference in Berlin, Germany, on Thursday, June 13, 2019. Krisztian Bocsi | Bloomberg via Getty Images Wirecard Card Solutions, the U.K. unit of disgraced German payments company Wirecard, has announced it will sell some assets to
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CDC Director Dr. Robert Redfield testifies during a Senate Health, Education, Labor and Pensions (HELP) Committee hearing on Capitol Hill in Washington, D.C. Kevin Dietsch | Reuters Whichever coronavirus vaccine candidates win regulatory approval in the U.S. will likely be in short supply once they are cleared for public distribution, Director of the Centers for
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