Online broker Charles Schwab received antitrust approval from the U.S. Department of Justice for its acquisition of TD Ameritrade, sources told CNBC’s David Faber on Thursday. Shares of Schwab jumped nearly 7% in premarket trading following the report. TD Ameritrade rose more than 9% before the opening bell. Schwab announced last November it would buy
If you’ve taken out a loan against your 401(k) savings account and lose your job, it could generate an unexpected tax bill. While recent economic rescue legislation provided some relief for coronavirus-related 401(k) loans, they still are subject to certain existing rules when you separate from your company, whether by choice or not. And that
Mary Barra, Chairman and CEO of General Motors. Bill Pugliano | Getty Images General Motors expects its North American vehicle production to return to near pre-coronavirus levels by the end of June, Chairman and CEO Mary Barra said Wednesday. The Detroit automaker has worked aggressively to restart its operations, particularly those that produce pickup trucks, since restarting
Zoom reported revenue growth of 169% from the previous year in its first-quarter earnings report on Tuesday, and nearly doubled its revenue guidance for the full year, as the coronavirus pandemic drove millions of new customers to the video calling service and turned it into a household name. Shares fell 4% in after-hours trading during the
The last two recessions may help determine what’s next for the recent market rally. Economic Cycle Research Institute co-founder Lakshman Achuthan has narrowed the possible recovery paths into two scenarios: The dot.com bubble collapse and financial crisis aftermath. Achuthan builds his case in a special S&P 500 chart showing performance during the 2009 to 2010 and
This is part of CNBC Make It’s Out of Work series, where real people tell their personal stories of what it’s like to be underemployed during the Covid-19 pandemic. This is the story of Catherine Lieberman, director and co-owner of Bell’s School for People Under Six in Fletcher, North Carolina, as told to Megan Leonhardt.
A pedestrian passes by the New York Stock Exchange, NYSE, in New York on March 17, 2020. (Photo by Michael Nagle/Xinhua via Getty) (Xinhua/Michael Nagle via Getty Images) Xinhua News Agency Great Depression-era levels of unemployment. An economy in downward spiral. More than 100,000 dead from a killer virus. Cities in flames amid widespread civil
Fraser Ross, owner of the popular Los Angeles boutique retailer Kitson, has boarded up his three stores. The once-thriving business is one of so many retailers experiencing the fallout from the riots and civil unrest that has ravaged the U.S. in recent days. On the heels of the coronavirus outbreak and widespread business closures, now many
A box of Plaquenil, an anti-malaria drug hydroxychloroquine made by Sanofi, used for years to treat malaria and autoimmune disorders. Alain Pitton | NurPhoto | Getty Images Hydroxychloroquine, the drug backed by President Donald Trump to combat Covid-19, is no better than a placebo in preventing infection of the coronavirus, according to results expected to
Matthew Mitchell, center, talks with customers as Sierra Phillips adjusts a denim display at the American Eagle/Aerie store at Easton Town Center in Columbus, Ohio on May 15, 2020. Andrew Spear | The Washington Post | Getty Images American Eagle Outfitters posted a steeper-than-expected loss on Wednesday, as sales and store traffic plummeted following coronavirus-led