California Street, usually filled with iconic cable cars, is seen mostly empty in San Francisco, California on March 17, 2020. Josh Edelson | AFP | Getty Images Mike Seramin owns a party supply company in Daly City, just outside of San Francisco. Abbey Party Rents, founded in 1947, is used to booking around 20 events
Americans who are stuck in their homes during the coronavirus pandemic aren’t just video-conferencing and binge-watching TV. Lowe’s CEO Marvin Ellison said they’re also replacing appliances and doing DIY projects. In an interview with CNBC on Wednesday, Ellison said the home improvement retailer has seen an increase across nearly every store category as customers not
Michael Wirth, CEO, Chevron, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galasia | CNBC Chevron will slash capital spending by $4 billion this year and suspend share buybacks, the latest oil company to cut costs in the face of an unprecedented slide in oil prices. Oil has crashed by
A customer views cars on display in a showroom of the Avilon dealership owned by the Ford Motor Company in Moscow. Anton Novoderezhkin/TASS (Photo by Anton NovoderezhkinTASS via Getty Images) Anton Novoderezhkin | TASS | Getty Images Check out the companies making headlines after the bell. Micron Technology — The semiconductor company’s stock jump 5% in
People waiting in line at an unemployment office. Yellow Dog Productions A coronavirus relief bill unveiled Tuesday would significantly expand unemployment benefits for Americans who lose their jobs due to the country’s recent economic contagion. The measure would beef up the nation’s unemployment insurance program, a state-administered program that provides temporary income support for out-of-work
Source: Morgan Stanley Morgan Stanley, one of the world’s biggest wealth managers, said its online trading portal for wealthy clients went down on Wednesday. The bank’s message for clients was to call a service representative to place trades, rather than using the company’s website. A spokeswoman for the New York-based firm declined to immediately comment.
Senate Majority Leader Mitch McConnell (R-KY) speaks to reporters following the Senate Republican policy luncheon which both President Donald Trump and Vice President Mike Pence attended on March 10, 2020 in Washington, DC. Samuel Corum | Getty Images The federal coronavirus relief bill would allow taxpayers to nab a $300 deduction for charitable giving –
A customer pays for her groceries after shopping at a Walmart store ahead of the Thanksgiving holiday in Chicago. Kamil Krzaczynski | Reuters Walmart said Wednesday it is offering help to its small business partners as the coronavirus forces consumers to self-isolate and companies to shut stores. More than 10,000 businesses operate within Walmart Supercenters and
Target is putting some of its ambitious growth plans on hold as it focuses on the day-to-day realities of dealing with coronavirus outbreak. The big-box retailer said Wednesday it will delay plans to remodel hundreds of stores, open new ones and offer fresh groceries and beer to curbside pickup. Target is also withdrawing its financial guidance
Citadel, the Chicago-based hedge fund giant led by billionaire Ken Griffin, has so far weathered the coronavirus market storm well, turning a slight profit in its flagship Wellington hedge fund for the year through Monday, according to a person familiar with the situation. The fund, which practices a so-called multi-strategy array of bets on stocks,