Business

As Jeff Bezos defends Amazon‘s largess in front of the U.S. House Committee on the Judiciary on Wednesday (“Just like the world needs small companies, it also needs large ones,” his prepared remarks read), his ex-wife MacKenzie Scott has announced an update on her own efforts to dismantle the mountain of money and privilege on which

Trading activity picked up in shares of Eastman Kodak before the company announced on Tuesday that it had been tapped by the Trump administration to manufacture drug ingredients, data from FactSet shows. On Monday, 1,645,719 shares traded hands, far surpassing Friday’s 74,893 trades, and Thursday’s 80,840 trades. Not including this week, over the last year

General Motors Chairman and CEO Mary Barra on April 1, 2020 tours one of the company’s facilities in Warren, Michigan that will produce Level 1 face masks. GM General Motors is set to report its second-quarter earnings before the bell on Wednesday as the automaker attempts to recover from the coronavirus pandemic that’s shuttered factories

Senate Majority Leader Mitch McConnell, R-Ky., leaves the Senate Republican Policy luncheon in Hart Building on Tuesday, July 21, 2020. Tom Williams | CQ-Roll Call, Inc. | Getty Images A second round of $1,200 stimulus checks could be coming, thanks to Senate Republicans’ new stimulus proposal. The terms of the new payments were outlined in

Customers sit at McDonald’s outdoor seating in Union Square as the city moves into Phase 3 of re-opening following restrictions imposed to curb the coronavirus pandemic on July 7, 2020 in New York City. Alexi Rosenfeld | Getty Images McDonald’s is expected to report its second-quarter results before the bell on Tuesday. Here’s what Wall Street

CNBC’s Jim Cramer urged investors Monday to remain cautious about the length of time it takes to develop a successful coronavirus vaccine, saying that Massachusetts-based biotech firm Moderna may be painting too rosy of a picture.  “It’s not a simple case. You don’t just say, ‘Hey, look at this. These people didn’t get Covid over a couple weeks.’

While large cruise ships have mostly stopped sailing due to the pandemic, smaller ships are planning to sail to Antarctica this winter. The No Sail Order issued by the Centers for Disease Control and Prevention, which is currently in effect until Sept. 30, applies to cruise ships with the capacity to carry at least 250

A multiple sclerosis drug is manufactured at the Biogen Idec plant in Cambridge, Mass. Essdras M Suarez | The Boston Globe | Getty Images Check out the companies making headlines midday Monday: Biogen — A Morgan Stanley analyst upgraded the biopharma company to overweight from underweight and predicted a 30% rally in the stock over

U.S. President Donald Trump is seated prior to signing an executive order regarding social media companies in the Oval Office of the White House in Washington, U.S., May 28, 2020. Jonathan Ernst | Reuters President Donald Trump announced Friday he will sign four executive orders aimed at lowering the high cost of prescription drugs in the

In response to the coronavirus pandemic, a growing number of U.S. colleges have said their campuses will remain closed through the fall semester.  Still, students are heading back to school as soon as this weekend. For some, there is nowhere else to go. About 52% of high school and college students said going back to school

Pedestrians walk outside an E*Trade Financial office in New York, U.S. Daniel Acker | Bloomberg | Getty Images E-Trade’s trading activity and new accounts surged in the second quarter amid a boom in retail investing that started during the coronavirus market turmoil.  The broker — slated to be acquired by Morgan Stanley in the second half

The Robinhood investment app is see on a smartphone in this photo illustration on June 24, 2020 in Washington,DC. Jim Watson | AFP | Getty Images Robinhood has postponed the launch of its popular stock-trading app in the U.K. indefinitely. The Menlo Park, California-based fintech firm told people signed up to its U.K. waitlist Tuesday that

When you arrive at Potato Head Beach Club’s security checkpoint in Bali, Indonesia, guests are screened for the usual contraband such as weapons or explosives and one other thing: plastic bottles. Single-use plastic is banned from the resort, which means, guests often turn in their water bottles. It’s all part of the experience, though, which is

Leonhard Foeger | Reuters Gold prices rose to an all-time high Friday as investors sought safety in the precious metal amid rising U.S.-China tensions and lingering fears over the coronavirus pandemic. The metal’s August futures contract rose 0.4% to settle at $1,897.50 per ounce, according to data from the CME Group. This also marked gold’s

A person wears a protective face mask outside McDonald’s in Union Square during the coronavirus pandemic on April 30, 2020 in New York City. Noam Galai | Getty Images McDonald’s pause on reopening U.S. dining rooms will continue for another 30 days as coronavirus cases continue to surge in some parts of the country. The company

Jovita Carranza, administrator of the U.S. Small Business Administration (SBA), speaks as Steven Mnuchin, U.S. Treasury secretary, left, listens during a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images Details of  Senate Republicans’ version of a coronavirus aid bill are starting to emerge. Accountants question whether it will provide enough

Intel shares fell as much as 9% in extended trading on Thursday after the company reported better-than-expected second-quarter earnings and said next-generation chips would come out later than it had expected.  Here’s how the company did: Earnings: $1.23 per share, adjusted, vs. $1.11 per share as expected by analysts, according to Refinitiv. Revenue: $19.73 billion,

CNBC’s Jim Cramer on Thursday praised Tesla CEO Elon Musk for building a company that promises to be much more than just electric vehicles. “This man is selling technology, and he’s talking about fully assisted and then he’s talking about driverless. He’s thinking so much bigger,” Cramer said on “Squawk on the Street.” ”He’s a big thinker.

It’s been roughly eight years since I quit my investment banking job and retired at 34. My wife—also an early retiree—and I had a combined net worth of about $3 million. Achieving early retirement is difficult for a lot of people, so we feel incredibly grateful to have financial independence and freedom from work. We

Senator Mitt Romney, a Republican from Utah, listens during a Senate Small Business Committee hearing on coronavirus relief aid and “Implementation of title I of the CARES Act.”, in Washington, U.S., June 10, 2020. Al Drago | Reuters Sen. Mitt Romney plans to vote against the controversial nomination of Judy Shelton to the Federal Reserve,

An empty parking lot is shown at a closed JC Penney store in Roseville, Mich., May 8, 2020. Paul Sancya | AP Ross Allen-McCabe worked for six years at J.C. Penney. Now, he’s out of a job after the department store filed for bankruptcy and has so far let go hundreds at its headquarters in Plano,

President Donald Trump met with cabinet members and Republican Congressional leaders in the Oval Office on July 20 to discuss a proposed new round of financial stimulus. Doug Mills | Pool | Getty Images The people who would get the greatest benefit from a payroll tax holiday may be the ones who need it the

Coca-Cola President and CEO James Quincey attends a press conference with International Olympic Committee (IOC) president and China Mengniu Dairy CEO and Executive Director, as part of the 134th Session of the International Olympic Committee (IOC) at the SwissTech Convention Centre in Lausanne, on June 24, 2019. Fabrice Coffrini | AFP | Getty Images With

CNBC’s Jim Cramer said Tuesday the stock market could go higher if more people in the U.S. wore face masks to limit the spread of the coronavirus.  The current strength in equities is concentrated in technology-related stocks and not sectors tied to state economic reopening plans, Cramer said on “Squawk on the Street.”  “Let’s give the

Jeff Bezos had a pretty lucrative Monday. The billionaire Amazon CEO set a record when his net worth jumped by $13 billion in just one day, on Monday, according to Bloomberg.  The Bloomberg Billionaires Index put Bezos’ estimated net worth at $189.3 billion at the end of Monday. Bezos, who is the world’s wealthiest man

A bottle of Diet Coke is pulled for a quality control test at a Coco-Cola bottling plant in Salt Lake City, Utah. George Frey | Getty Images Check out the companies making headlines in midday trading.  Coca-Cola — Coca-Cola gained 2.5% after the beverage giant gave an optimistic view about its future. The company said it expects

The World Health Organization on Monday applauded newly published data by researchers at Oxford University and AstraZeneca on a potential coronavirus vaccine but cautioned that it’s still early and further evidence of its effectiveness is needed.  “It is good news,” Dr. Mike Ryan, executive director of the WHO’s emergencies program, said at a press conference at the organization’s

Rob Daly | OJO Images | Getty Images Households aren’t too happy with the U.S. consumer financial ecosystem these days, a report suggests. Complaints made to the federal Consumer Financial Protection Bureau were up 50% from March through June this year compared with the same time period in 2019, according to research from consumer advocacy

Reed Hastings, CEO of Netflix. Robyn Beck | AFP | Getty Images Netflix reported its second quarter 2020 earnings after the bell on Thursday, the first full quarter to reflect the impact of the coronavirus pandemic. The company announced that Netflix Chief Content Officer Ted Sarandos will become co-CEO alongside current CEO Reed Hastings. He will

Company: Pearson PLC (PSO) Business: Pearson delivers learning through providing a range of educational products and services to institutions, governments, professional bodies and individual learners. The company operates through three segments, which include North America, core and growth. The company’s North America segment includes assessments and services businesses in the United States and Canada. The