Business

Attempting to forecast the path of the American economy right now is like peering into a dark well — nobody knows how deep the hole goes. Even Jamie Dimon, CEO of JPMorgan Chase and veteran prognosticator of all things financial, is flummoxed. As head of the financial system’s bellwether, a bank with $3.2 trillion in

A wave of U.S. companies said this week that they’ll require customers to wear masks or face coverings in their stores. That includes some of the biggest names in retail: Walmart, Kroger, Target, Best Buy, CVS Health, Home Depot and Lowe’s. Now those companies and their employees will face another challenge: Getting customers to comply. Walmart, the

Robert Miller, a Pittsburgh area restaurateur, has watched with sadness as some of his favorite local eateries closed for good in recent weeks. Union Standard, Pizza Taglio, Spoon — just a handful of the businesses lost in the age of the coronavirus pandemic. “They’re all places people would know by name,” Miller said. Miller, 45, expects

A sign for BlackRock Inc hangs above their building in New York. Lucas Jackson | Reuters BlackRock, the world’s largest asset manager, reported a 21% jump in quarterly profit on Friday, as investors poured money into its fixed-income funds and cash management services. The New York-based company’s net income rose to $1.21 billion, or $7.85

Warren Buffett. Gerald Miller | CNBC An off-brand move to pile into Apple shares might have been Warren Buffett’s greatest trade ever.  Berkshire Hathaway‘s Apple stake — which has claimed 40% of its equity portfolio — is up a whopping $40 billion since the market bottom in March. The investment in the tech giant played a crucial role

There’s a new shortage in the U.S. caused by the coronavirus pandemic — and it’s not a paper product or food staple. Coins are currently hard to come by and, as a result, some grocery stores, banks and restaurants may not be able to provide you with change.  Kroger, one of the largest grocery chains in

Take a look at some of the biggest movers in the premarket: Netflix (NFLX) – The video streaming service saw its bottom line fall 22 cents a share below Wall Street forecasts with quarterly profit of $1.59 per share. Revenue and subscriber additions were above estimates. Projected subscriber additions for the current quarter of 2.5

A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019. Jaap Arriens | NurPhoto | Getty Images While streamers have benefited from the influx of consumers stuck at home, platforms like Netflix are not immune to the woes of film and

Yellow Dog Productions | Getty Images Medicare might become a bit easier to navigate. A congressional measure that would help prevent costly enrollment mistakes cleared a House committee on Wednesday as part of a group of bipartisan-backed health-care bills. The next step would be a vote by the full chamber, although it’s uncertain when that

Brian Moynihan, Bank of America, speaking at the WEF at Davos, January 21, 2020 CNBC Bank of America is scheduled to report second-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings: 27 cents a share, a 64% drop from a year earlier, according to Refinitiv. Revenue: $22 billion, a 5.3%

David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs is scheduled to report second-quarter earnings before the opening bell Wednesday. Here’s what Wall Street expects: Earnings: $3.78 per share, a 35% decline from a year earlier, according to Refinitiv. Revenue: $9.75

Tax season is much later than usual this year. In March, the IRS announced that the federal tax filing deadline, which is typically in mid-April, would be pushed to July 15, 2020. The move, made in response to the coronavirus pandemic, gave Americans an extra three months to file their 2019 returns without incurring interest or penalties.

Take a look at some of the biggest movers in the premarket: Moderna (MRNA) – The drugmaker’s Covid-19 vaccine candidate produced neutralizing antibodies in all 45 patients involved in an early study, according to newly released data. Those antibodies were similar to those seen in patients who have recovered from Covid-19. UnitedHealth (UNH) – The

Due to social distancing, shoppers wear protective masks as they wait in line outside Gucci as South Coast Plaza reopens, requiring customers maintain a social distance and wear face masks at South Coast Plaza Thursday, June 11, 2020 in Costa Mesa, CA. Allen J. Schaben | Los Angeles Times via Getty Images The United States

More and more schools are joining the fight against the Trump Administration over a new rule that may bar international students from studying in the U.S. Now, 59 public and private colleges — including Johns Hopkins University, Stanford University, Duke University and Emory University, as well as every member of the Ivy League — have

Citigroup reported on Tuesday second-quarter results that surpassed analyst expectations thanks in part to a massive surge in trading revenue that helped offset a slowdown in the company’s consumer banking business.  Here’s how the company’s results compared to analyst estimates: Earnings: 50 cents per share vs 28 cents per share expected by Refinitiv Revenue: $19.77 billion

A view of the New York Stock Exchange (NYSE) is seen at Wall Street on June 29, 2020 in New York City. Angela Weiss | AFP | Getty Images Warner Music Group Corp., the label for artists like Ed Sheeran and Cardi B, went public last month with 28 underwriters. More than a third of

In the early 2000s, Tesla Motors was a small start-up underdog in the automotive industry. It faced naysayers because “no one was doing electric cars,” CEO Elon Musk said on the “Third Row Tesla” podcast in February.  But despite the odds, Tesla became the world’s most valuable automaker – its market capitalization surpassed Toyota’s for the first time on July

A pedestrian passes in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, June 3, 2020. Michael Nagle | Bloomberg | Getty Images Stock futures rose in overnight trading on Sunday as investors looked past a record spike in coronavirus cases in Florida. Futures on the Dow Jones Industrial Average

The national flags of the U.S. and China waving outside a building. Teh Eng Koon | AFP via Getty Images The U.S. has asked its citizens to “exercise increased caution” in China due to a “heightened risk of arbitrary detention” — a claim slammed by Chinese state-backed media Global Times as a “blatant distortion of

Tomas Vargas, Jr., of Stockton, Calif., says that receiving money through the city’s universal basic income experiment has been life changing. Snap Jackson Photography A few years ago, Tomas Vargas, Jr., was having a tough time supporting his family. The Stockton, California, resident, a part-time supervisor at UPS, found his paychecks were not enough to

A driver for an independent contractor to FedEx Corp. pushes a cart with packages for delivery in New York, U.S., on Monday, Nov. 26, 2018. Christopher Lee | Bloomberg | Getty Images Shares of FedEx jumped 9.4% in extended trading on Tuesday after a surge in pandemic-fueled home deliveries helped the U.S. package carrier post

A battle heats up between a deep-research investor with a private equity mindset and an underperforming small cap software stock. This is a textbook case of good activism — a company with poor operating history, horrible corporate governance, underperforming stock, overpaid CEO and a large, long-term shareholder with a very friendly and reasonable request with impressive

Young Elon Musk had two favorite subjects in high school – and in both, he performed “best” academically.  “When I was in high school … I got distinctions in two areas: physics and computer science,” Musk said on the “Third Row Tesla” podcast in February. “Those were my two best subjects.” So at the time, “I

Carlos McArthur, a resident of Syracuse, New York, lost his job with a medical transportation company in March. He lived in his car for more than two months while waiting for his unemployment benefits to arrive. Carlos McArthur is one of millions of Americans who lost a job during the coronavirus pandemic.   But his plight

As many as 1 in 150 people in the U.S. are infected, Dr. Gottlieb estimates Dr. Scott Gottlieb, commissioner of the Food and Drug Administration Getty Images Dr. Scott Gottlieb, the former Food and Drug Administration commissioner, said on CNBC’s “Squawk Box” that he believes as many as 1 in 150 people in the U.S. are

Demonstrators gather in front of the Texas State Capital during a protest in Austin, Texas, on Tuesday, June 30, 2020. Sergio Flores/Bloomberg via Getty Images More states may take similar steps as outbreaks expand, mostly across the American South and West. The United States reported a daily record of 63,247 new cases of Covid-19 on

A customer views merchandise for sale at a Walgreens store in the Hollywood neighborhood of Los Angeles. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance said Thursday its fiscal third quarter results were hurt by fewer people going to the doctor and getting prescriptions and by higher costs during the pandemic. The drugstore chain

You’ve heard about the trade war with China. There may be a separate, potential “financial war” brewing. The Securities and Exchange Commission wants you to know more about what is happening with Chinese companies that list in the United States. The regulators also want you to know that they are having a really hard time

A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The number of apartments listed for rent in Manhattan reached record levels in June, as brokers remained unable to host showings amid the coronavirus pandemic and more renters left the city, according to a new report. There were more than 10,000 apartments listed on