AleksandarNakic Our nation is facing unprecedented times, and financial advisors are facing upheaval when their clients need them the most. More than 40 million people have applied for unemployment benefits since early March, while the economic outlook remains grim. The Atlanta Federal Reserve projects that the nation’s gross domestic product during the second quarter will
Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State’s largest retail shopping space, in King of Prussia, Pennsylvania. Mark Makela | Reuters The biggest U.S. mall owner Simon Property Group said Wednesday morning it has exercised its contractual rights to terminate its deal to acquire the
A Starbucks employee wipes the protective screen as the coffe shop chain operates take away service in Battersea, south-west London on 21 May, 2020 in London, England. Wiktor Szymanowicz | NurPhoto | Getty Images Starbucks expects to swing to a loss in its fiscal third quarter as the company predicts it lost as much as $3.2
Standard Chartered headquarters and a HSBC building are pictured on March 16, 2020 in Hong Kong. Zhang Wei | China News Service via Getty Images A major shareholder in both HSBC and Standard Chartered has hit out at the banks over their support for China’s controversial new national security law in Hong Kong. In a
Tony Fadell, Inventor of the iPod and former CEO of Nest attends a conference during Viva Technology at Parc des Expositions Porte de Versailles on June 16, 2017 in Paris, France. (Getty | Christophe Morin) Before becoming known as the “father of the iPod,” Tony Fadell said he was rejected by 80 venture capital investors
Jeff Bezos, founder and CEO of Amazon, smiles as he speaks during the Economic Club of Washington’s Milestone Celebration event in Washington, DC, on September 13, 2018. Saul Loeb | AFP | Getty Images Amazon is introducing a new digital credit line for U.S.-based merchants with partner bank Goldman Sachs, CNBC has learned exclusively. Small
The economic shock from Covid-19 may call for drastic measures, but negative interest rates are not one of them — at least not yet. The Federal Reserve has never brought its benchmark rate into negative territory and, according to Fed Chairman Jerome Powell, the central bank is not considering going to negative interest rates now. Experts agree. “I view that as
Slowly but surely, small businesses are rehiring workers as plans to reopen from the coronavirus lockdown progress across the country. Employee headcount increased by 3.2% in May, although it remains below pre-pandemic levels overall, according to exclusive data compiled by human resource provider Gusto and based on more than 100,000 small businesses nationwide. In addition,
New federal aid is targeted toward communities with high homeless populations or individuals at risk … [+] of becoming homeless. Hearst Newspapers via Getty Images The U.S. Department of Housing and Urban Development announced today that it will provide $2.96 billion in the remaining Emergency Solutions Grants funding to aid homeless Americans and people at risk
Huntington Beach, CA Getty Here are the top 25 cities with the highest rent decreases. Though rents increased an average of 3 percent nationally last year, Apartmentguide.com found the top 25 cities where annual rents have declined. What surprised Brian Carberry, Apartmentguide’s managing editor who crunched the numbers was, “some of the areas with significant