Yuka Ioroi, co-owner of Cassava restaurant on Balboa Street in San Francisco manages take-out orders on April 8, 2020. San Francisco Chronicle/Hearst Newspapers via Getty Images Nearly 7.5 million small businesses are at risk of closing their doors permanently over the next several months if the coronavirus pandemic persists, according to a survey. Around two-thirds
Junior’s Cheesecake owner Alan Rosen said Tuesday that the money the restaurant company has received through the Treasury Department’s small business loan program is not enough to immediately bring workers off furlough. There is too much uncertainty about when the coronavirus pandemic will subside and when people will be comfortable to “sit shoulder to shoulder in our
A Johnson & Johnson building is shown in Irvine, California. Mike Blake | Reuters Johnson & Johnson shares rose by more than 3% Tuesday in premarket trading after the U.S. drugmaker raised its quarterly dividend even as it cut full-year earnings guidance due to the coronavirus outbreak. J&J raised its dividend from 95 cents a
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase posted record trading revenue amid the surge in volatility in the first quarter. The bank posted quarterly per share earnings of 78 cents, a figure that missed analyst’s estimates as the bank added $6.8 billion to loan
A customer uses a JPMorgan Chase & Co. automatic teller machine (ATM) outside a bank branch in Miami, Florida, on Thursday, Jan. 5, 2017. Scott McIntyre | Bloomberg | Getty Images JPMorgan is building its credit reserves in anticipation that people might not be able to pay their bills, especially for credit cards. The bank’s
Anthony Wood David Orrell | CNBC Shares of Roku popped more than 9% Tuesday morning after the company reported growth in streaming hours as more people spend time at home during the coronavirus pandemic. The move added around $1 billion to Roku’s market cap, bringing it around $12.6 billion. In its earnings report Monday, Roku
An exterior view of the building of the International Monetary Fund (IMF), with the IMG logo, is seen on March 27, 2020 in Washington, DC. OLIVIER DOULIERY The global economy will this year likely suffer the worst financial crisis since the Great Depression, the International Monetary Fund said Tuesday, as governments worldwide grapple with the
Ahmad Alsheikh, 18, was admitted to the Harvard class of 2024. Source: Ahmad Alsheikh For Ahmad Alsheikh, 18, gaining acceptance to Harvard’s Class of 2024 was a lifetime in the making. Alsheikh and his family came to the U.S. from Syria, seeking asylum from that country’s civil war. Yet in starting school as a high school
Getty Images Millennials have been dealt two very bad economic hands during their lifetimes. First, they weathered the 2008 financial crisis brought about by reckless risk-taking in the financial sector. Now, they confront a much more severe economic calamity caused not by Wall Street’s misbehavior but by a malicious virus. Yet in both situations, the
Reported COVID-19 cases around the world approached two million on Monday, doubling in 11 days as World Health Organization officials caution patience before lifting social distancing restrictions. Covid-19 has infected more than 1,918,855 people around the world and killed at least 119,588 people, according to data compiled by Johns Hopkins University. Hopkins’ data previously showed that the cases had passed