Marlin Steel’s Liston Clise shows off a Covid-19 test rack Source: Marlin Steel Marlin Steel Wire Products is busy making wire racks for covid-19 test kits. Still, the company is going to pursue a paycheck protection loan because of concerns clients will stop paying their bills or slow buying because they are strapped during the
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 873,767. Global deaths: At least 43,288. US cases: At least 189,633. US deaths: At least 4,081. The data above was compiled
Scott Olson | Getty Images Check out the companies making headlines in midday trading. Macy’s — Stock of the classic American retailer fell on Wednesday to levels not seen since it reemerged from bankruptcy as a public company in 1992. Macy’s equity, last seen trading down 2.5% around $4.81 a share, fell as low as
Analysts have warned that falling oil prices will lead to a wave of consolidation or bankruptcies in the U.S. energy sector, and the Street got its first taste of what could be to come when U.S. shale producer Whiting Petroleum filed for bankruptcy on Wednesday. “The oil patch is falling apart … This is the other
Rowan Jordan The next coronavirus relief bill might resurrect the state and local tax deduction – and overburdened accountants are less than thrilled. In an interview with The New York Times, House Speaker Nancy Pelosi, D-Calif., raised the prospect of retroactively reinstating the so-called SALT itemized deduction in a fourth coronavirus relief bill to put
California Gov. Gavin Newsom updates the state’s response to the coronavirus at the Governor’s Office of Emergency Services in Rancho Cordova, Calif., Monday, March 23, 2020. Rich Pedroncelli | AP California Governor Gavin Newsom on Tuesday said 25,000 people signed up for the state’s new Health Corps site, in one day. The state is now
U.S. stock futures dropped early Wednesday morning and pointed to sizable declines at the open, following the end of the worst first quarter on record for the Dow and S&P 500 spurred by the coronavirus sell-off. At around 2:45 a.m. ET, Dow Jones Industrial Average futures fell 681 points, indicating a Wednesday opening loss of about
A pedestrian wearing a protective mask walks along Wall Street in front of the New York Stock Exchange (NYSE) in New York, U.S. on Monday, March 30, 2020. Michael Nagle Bloomberg | Getty Images Oaktree Capital co-chairman Howard Marks is leaning toward a more negative outlook because of the uncertainty from the coronavirus pandemic, but
Don’t be surprised if your employer pauses its contributions to your 401(k) plan during the U.S. economic downturn. As the coronavirus pandemic wallops the economy, and businesses deal with dropping revenue and limited cash flow, employers are exploring how to trim their obligations to those plans without violating federal regulations. Companies commonly give to worker’s
A cashier wears gloves while scanning the groceries of a customer at a Whole Foods in Cambridge, MA on March 24, 2020. Erin Clark | The Boston Globe via Getty Images Temporary wage hikes. Special bonuses. Paid sick time. In recent weeks, tensions are on the rise between grocery workers and their employers, spurring many