Business

Peter Madoff in 2002. Getty Images The younger brother of infamous financier and Ponzi swindler Bernard Madoff was released from federal custody on Thursday after serving about nine years of a 10-year sentence. The Federal Bureau of Prisons confirmed in an email that Peter Madoff was released from home confinement on Aug. 13 after being transferred

When the Covid-19 pandemic struck the U.S., young biotech company Verve Therapeutics was just months away from a pivotal development: studies in animals of its gene-editing approach to lowering cholesterol that would lead it to be heralded as a potential “cure for heart disease.” But Chief Executive Dr. Sekar Kathiresan had a problem: this isn’t

Saul Loeb | AFP | Getty Images Congress is at an impasse when it comes to how to help millions of Americans recover from the economic fallout of the coronavirus pandemic. Now, a  report from Democrats on the Joint Economic Committee of Congress shows that one group — workers age 55 and older — are

A traveler wearing a protective mask waits to put a suitcase in the back of ride-sharing car displaying Lyft signage at San Francisco International Airport on Monday, May 4, 2020. Paul Morris | Bloomberg via Getty Images Lyft just reported second-quarter earnings including a 61% revenue drop versus the same period last year, but a glimmer

CNBC’s Jim Cramer  is worried President Donald Trump‘s administration will keep applying pressure to China into the election, creating a headwind for the market.  “I think that the president is keeping the heat on. I expect more negatives about China,” Cramer said on “Squawk on the Street.” Cramer’s remarks Thursday come as the relationship between

From gate to seat, air travel is undergoing a touch-free transformation, yet the one place flyers are probably most loathe to touch — the airplane bathroom — has received little attention of late.   That’s about to change, say companies that are producing “touchless tech” to transform bathrooms into hands-free zones. Which bathroom features are going touchless 

Cisco logo exhibited during the Mobile World Congress, on February 28, 2019 in Barcelona, Spain. NurPhoto | Getty Images Check out the companies making headlines after the bell:  Cisco Systems — Cisco shares fell more than 6% in after-hours trading despite reporting fiscal fourth-quarter profit and revenues that topped analysts’ expectations. The results, though better than

A Stein Mart store in King of Prussia, PA. Google Earth The off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic.  The

President Donald Trump speaks at an Aug. 10 White House news conference. Alex Wong | Getty Images News | Getty Images An extra $400 Trump’s executive order was one of four measures signed on Saturday to address jobless benefits, evictions, student loans and payroll taxes. Top Democratic lawmakers and White House officials have struggled to

This photo taken on January 11, 2018 shows a woman walking past Marriott signage in Hangzhou in China’s Zhejiang province. – | AFP | Getty Images Hotel operator Marriott International on Monday reported its first quarterly loss in nearly nine years, as extended travel disruption due to the Covid-19 pandemic hammered bookings. The company’s loss

A worker wearing a protective mask adjusts a torque wrench inside the service area at a Harley-Davidson dealership in Oakland, California, on Thursday, July 16, 2020. David Paul Morris | Bloomberg | Getty Images The dark side of good earnings: Companies are talking about turning “furloughs” into permanent layoffs. You knew this was coming. It’s

A passion for eating permeates Istanbul, a city that famously straddles Europe and Asia, one whose cuisine has long been known for its variety and quality. In addition to the traditional purveyors of impeccable grilled fish and meats, intoxicating street food and famously fragrant desserts, several restaurants are taking the concept of “Turkish cuisine” in

Brendan McDermid | Reuters Futures tied to major U.S. equity averages were little changed in overnight trading on Monday after days of gains on Wall Street pushed the S&P 500 within striking distance of a record high. Dow Jones Industrial Average futures dipped about 10 points. The S&P 500 and the Nasdaq 100 futures were

Steve Easterbrook, chief executive officer of McDonald’s Corp., speaks during the opening of the company’s new headquarters in Chicago, Illinois, U.S., on Monday, June 4, 2018. Joshua Lott | Bloomberg | Getty Images McDonald’s is trying to recover millions in compensation it paid out to former CEO Steve Easterbrook by suing him for allegedly lying during

Tenants and housing activists in Brooklyn, New York, protested in a Bushwick park on July 5. Erik McGregor | Getty Images Negotiations over the next coronavirus stimulus package on Capitol Hill ended the week in a stalemate. But there’s one form of help lawmakers reportedly agree on: a second set of stimulus checks. This week’s

Travelers order food in automated self-ordering kiosk at fast-food Burger King restaurant chain. Bundrul Chukrut | LightRocket | Getty Images Restaurant Brands International on Thursday reported that its quarterly revenue plunged 25% as the coronavirus pandemic weighed on same-store sales at Burger King and Tim Hortons. But Popeyes, powered by its popular chicken sandwich, reported same-store

Spencer Platt | Getty Images As earnings season wraps up, analysts are reviewing their short-term and long-term take on the stocks they cover. While some companies delivered blowout quarters (see below), other stocks are suffering as global restrictions continue. And while government-backed stimulus programs can provide some relief, the truth remains that the pandemic- and

filadendron | E+ | Getty Images Financial upheaval and uncertainty has become the norm for many Americans, thanks to the coronavirus pandemic. Millions are unemployed, and scores of companies have been impacted by the economic slowdown. With so much uncertainty, it can be difficult and even scary to think about your money, much less make

Fancy/Veer/Corbis | Getty Images Bianca Thomas was always working. Except on Sunday — that was church day. But in March, everything changed. Thomas lost her job as a prep cook in an eatery catering to Boston Bruins and Celtics season ticket holders. Singing in the church choir, a joy of hers for 13 years, wasn’t possible

Director of the National Institute for Allergy and Infectious Diseases Dr. Anthony Fauci testifies before the US Senate Health, Education, Labor, and Pensions Committee hearing to examine COVID-19, “focusing on lessons learned to prepare for the next pandemic”, on Capitol Hill in Washington, DC on June 23, 2020. Kevin Dietsch | Pool | AFP |

This guide lays out the seven key steps to focus on to get you working toward long-term financial security. Step 1: Set short-term and long-term goals Step 2: Create a budget Step 3: Build an emergency fund Step 4: Pay off costly credit card debt Step 5: Save for retirement Step 6: Invest for retirement

Uber CEO Dara Khosrowshahi walks outside of the New York Stock Exchange its highly anticipated initial public offering on May 10, 2019. Spencer Platt | Getty Images Uber just reported second quarter results including revenue that beat analysts’ expectations but declined by about 29% from $3.17 billion during the same period last year. The stock dipped

Motorcyclists pass a 1Malaysia Development Berhad (1MDB) billboard at the Tun Razak Exchange development in Kuala Lumpur, Malaysia, February 3, 2016. Olivia Harris | Reuters Goldman Sachs on Friday lowered its previously stated quarterly net earnings applicable to common shareholders to $197 million from $2.25 billion. The bank said in a filing it had set

A shopper wearing a protective face mask browses luxury handbags inside a Louis Vuitton boutique in Moscow, Russia. Bloomberg | Getty Images The coronavirus pandemic has put many industries into crisis mode, and luxury retail is one of them. With fewer places to see and be seen, shoppers are slowing their spending, with an estimate

People gather at the entrance for the New York State Department of Labor offices in Brooklyn on March 20, 2020. The Federal Reserve estimates that 47 million people could lose their jobs before the COVID-19 crisis ends. Andrew Kelly | REUTERS Futures tied to major U.S. equity averages held steady in overnight trading on Thursday

Apartment contracts in Manhattan fell by more than half in July, while deals in many New York suburbs more than doubled, showing a continued flight from the city over the summer.   The number of signed contracts for co-ops and condos in Manhattan — the best real-time measure of activity — dropped 57% in July compared

Getty Images Some Americans who qualified for stimulus checks received an unwelcome surprise when the $500 payments for their children under 17 were not included. Starting today, the U.S. government plans to send out the missing cash. That applies to those individuals and couples who are not required to file a tax return and used

A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, May 18, 2020. Brian Snyder | Reuters Moderna reported Wednesday a fivefold increase in second-quarter revenue related to its work on a potential coronavirus vaccine.  Revenue jumped to $66.4 million during the quarter, more

A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images PayPal has hired Peggy Mangot, a former entrepreneur who led the development of a standalone mobile banking app at Wells Fargo, for its internal venture capital team, CNBC has learned. Mangot recently joined the online payments giant

As the nation’s lawmakers debate the contents of the next pandemic stimulus bill, a group of high powered business leaders at some of the most successful companies in the country are calling on Congress to support America’s small businesses. “This is not a call for bottomless handouts,” the letter, released Monday, says. ”It’s a defining moment