Medical workers bring in patients at a special coronavirus intake tent at Maimonides Medical Center in Borough Park section of Brooklyn which has seen an upsurge of coronavirus patients on April 02, 2020 in New York City. Spencer Platt | Getty Images Some 35% of all coronavirus tests administered in New York and New Jersey
Hedge fund manager Mark Yusko is telling investors to brace for a nearly once in a lifetime downturn. The Morgan Creek Capital Management CEO and CIO sees the Great Depression as the closest comparison to what’s happening to the coronavirus ravaged economy. “The economic shock wave that’s coming is going to be like nothing that
Kynikos Associates Founder Jim Chanos told CNBC on Thursday that he just closed a bet against Chinese coffee chain Luckin on Thursday after first taking a short position earlier in the year on advice from fellow short-seller Carson Block and his firm, Muddy Waters Research. Luckin Coffee is down more than 70% on Thursday after
A customer pays with cash at a Best Buy store in Texas, United States, on November 26, 2010. Aaron M. Sprecher | Bloomberg | Getty Images If you’re counting the days until you receive your stimulus money from the government, hold tight: It could take up to five months. A House Ways and Means Committee
As small business owners await a much-needed lifeline Friday in the form of a massive expansion of the Small Business Administration’s 7(a) lending program, new data show just how dire the situation is for Main Street as questions circulate about the program’s readiness. The National Federation of Independent Business’ Research Center is out with a
A healthcare worker attends to a person in the back of a vehicle at the Scripps Clinic as they provide drive-up care due to the global outbreak of the coronavirus disease (COVID-19) in La Jolla, California, U.S., March 17, 2020. Mike Blake | Reuters San Diego-based hospital system Scripps Health is preparing for coronavirus cases
A pedestrian passes in front of a Walgreens Boots Alliance Inc. store in the Hollywood neighborhood of Los Angeles, California. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance beat Wall Street earnings expectations Thursday, sending shares up about 3% in early trading. Here’s what Walgreens reported for its fiscal second quarter of 2020 compared
U.S. unemployment will peak in the “low- to mid-teens” before falling to about 8% by the end of 2020, Dallas Fed President Robert Kaplan said Thursday. From there, the recovery likely will be more U-shaped as consumers struggle to recover from an economic near-stoppage brought on by efforts to contain the coronavirus, the central bank
This is breaking news. Please check back for updates. Short seller Jim Chanos warned investors about piling into “virus stocks” boosted by the coronavirus lockdown temporarily. “One area I would warn people about for example is the virus stocks,” Chanos said on Thursday on CNBC’s Halftime Report. They are “doing well right now in this enforced lockdown.
If the coronavirus pandemic keeps you from working, there’s a chance you might soon have access to sick pay or paid family leave. As of this month, many businesses with fewer than 500 employees are required to provide those benefits, up to certain amounts and in specific circumstances, as mandated in the recently passed Families