GM CEO and Chairman Mary Barra and LG Chem Vice Chairman and CEO Hak-Cheol Shin at the automaker’s battery lab in Warren, Mich., where the companies announced a new $2.6-billion joint venture on Dec. 5, 2019. GM General Motors is studying whether it can use its auto factories to ”support production” of ventilators and other medical
US Federal Reserve Chair Jerome Powell speaks at a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images The Federal Reserve took another page out of its 2008 crisis-era playbook late Wednesday evening, invoking its emergency authority to create a backstop for prime money market mutual funds.
A man in a surgical mask walks by the New York Stock Exchange (NYSE) after more cases of coronavirus were confirmed in New York City, New York, U.S., March 10, 2020. Andrew Kelly | Reuters The easiest thing is to blame the computers and the algorithms that keep them going, propelling the market ever lower
To prevent millions of Americans from running out of money amid the coronavirus, the government has announced plans to send out checks to them soon. When Treasury Secretary Steven Mnuchin made the announcement about the cash infusion on Tuesday, universal basic income proponents felt validated. Now, the group of those calling for such a policy,
Rob Frohwein, CEO of Kabbage Adam Jeffery | CNBC Consumers who are concerned about the survival of their local businesses amid the coronavirus outbreak are finding new technology-enabled platforms that allow shoppers to buy for a better future. Online small business lender Kabbage launched on Wednesday a service called “Kabbage Payments,” which allows any business
This photo taken on January 11, 2018 shows a woman walking past Marriott signage in Hangzhou in China’s Zhejiang province. – | AFP | Getty Images Major hotel chains are temporarily closing properties and seeing occupancy rates tumble as travelers stay at home during the coronavirus outbreak. Global hospitality research company STR said Wednesday that
Bill Miller Scott Mlyn | CNBC Investor Bill Miller said during Wednesday’s violent market dive that the current climate is one of the best buying opportunities of his lifetime. “I think this is an exceptional buying opportunity,” Miller, chairman and chief investment officer of Miller Value Partners, said on CNBC’s “The Exchange” on Wednesday. “I
U.S. President Donald Trump, joined by members of the Coronavirus Task Force, speaks about the coronavirus outbreak in the press briefing room at the White House on March 17, 2020 in Washington, DC. (Photo by Drew Angerer/Getty Images) Drew Angerer Two financial-relief measures the Trump administration is weighing to fight the economic scourge of the
Pedestrians pass a JPMorgan Chase & Co. bank branch near the New York Stock Exchange in 2018. Bloomberg | Bloomberg | Getty Images JPMorgan Chase will temporarily close about 20% of its branches and reduce staffing in the ones remaining open in response to the coronavirus pandemic. “We are planning to temporarily close about 20% of
boonchai wedmakawand Financial scammers will likely try to steal money offered to Americans suffering from the negative economic effects of the coronavirus pandemic — and the public should be on its guard, federal officials warned on Wednesday. The White House has proposed making direct payments to American households as the coronavirus continues to wreak havoc