As the country went under lockdown, Americans were on the move. Over the last year, 1 in 20 adults moved from where they were living either permanently or temporarily due to the coronavirus outbreak, according to a recent report by the Pew Research Center. Most cited financial reasons for relocating, followed by a job loss
Weekly jobless claims edged higher last week but rose less than expected for an economy struggling to shake off impacts from a pandemic that has been around now for nearly a year. The Labor Department on Wednesday reported that first-time filings for unemployment insurance in the week ended Feb. 27 totaled a seasonally adjusted 745,000,
Google CEO Sundar Pichai speaks during signing ceremony committing Google to help expand information technology education at El Centro College in Dallas, Texas, October 3, 2019. Brandon Wade | Reuters Analysts are sounding off on Google‘s latest guidance on its promise to not use technologies that track people individually across the internet. Some analysts say
“Biden, dejame entrar por favor” (Biden, please let me in) is written in Spanish on a cardboard box carried by a migrant girl. A group of migrants from different backgrounds made their way to the border crossing to ask the new U.S. government for asylum. Stringer | picture alliance | Getty Images The House will
chee gin tan | E+ | Getty Images The Small Business Administration on Wednesday released a new application and loan calculation formula for Paycheck Protection Program loans for self-employed and gig workers. For these small businesses, it will mean larger forgivable loan amounts going forward. The new PPP application for self-employed workers and sole proprietors
CEO Peter Beck stands at the base of the fairing, or nosecone, of the Neutron rocket the company is developing. Rocket Lab Rocket Lab is going public in the next few months through a SPAC merger and CEO Peter Beck spoke to CNBC to break down the space company’s opportunities thanks to the deal’s cash
Chinese tourists wear masks as protection from the pollution outside the Forbidden City during a day of high pollution in Beijing, China. Getty Images Sustainable investing is taking off in Asia-Pacific as institutional investors accelerated their environmental, social and governance (ESG) investments during the coronavirus pandemic last year. ESG investing prioritizes a company’s positive contributions
Dan Gilbert, chairman, Quicken Loans Anjali Sundaram | CNBC Tuesday’s dramatic and abnormal spike in the stock of Rocket Companies created a major windfall for founder Dan Gilbert, at least on paper. Shares of Rocket, where Gilbert is the majority shareholder, jumped more than 70% on Tuesday, adding $17.30 per share. According to InsiderScore.com and
Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Total mortgage application volume was essentially flat for the week, rising just 0.5% according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan
Brian Niccol, CEO of Chipotle Mexican Grill Adam Jeffery | CNBC Chipotle Mexican Grill said Thursday that executive compensation will now be linked to hitting targets tied to the company’s environmental and diversity goals. The burrito chain is following in the footsteps of Starbucks and McDonald’s, both of which recently announced that performance for racial
New York Gov. Andrew Cuomo on Wednesday refused to resign, even as he said he was “sorry for whatever pain I caused” three women who allege that he sexually harassed them. An emotional Cuomo also asked the public to reserve judgment as New York Attorney General Letitia James oversees an investigation of the allegations by
Senate Finance Committee Chairman Ron Wyden, D-Ore., speaks at a Senate Finance Committee hearing at the U.S. Capitol on Feb. 25, 2021. Tasos Katopodis | Getty Images News | Getty Images Senate Finance Committee Chair Ron Wyden, D-Ore., said Wednesday it’s a “prescription for trouble” to end jobless benefits for the long-term unemployed and gig
CNBC’s Jim Cramer said Wednesday he anticipates a ferocious travel recovery from the Covid pandemic, a development that would have significant implications for companies with exposure to the industry and for the U.S. economy overall. “It’s going to be a boom here in this country, and I don’t think people are ready for it,” Cramer
One top strategist is calling the tech slump a major buying opportunity. According to Oppenheimer Asset Management’s John Stoltzfus, the group will rebound because it plays a key role in the economy’s reopening. He cites the critical support tech companies provide to consumers and every sector of corporate America. “We see the rollover in the
tupungato | iStock | Getty Images Between the federal stimulus package passed in December and the one making its way through Congress, there could soon be more than $45 billion in financial assistance available to those who’ve fallen behind on their rent. All states have already been allocated funds from a $25 billion pot of
Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP. Companies added just 117,000 positions for the month, well below the 225,000 forecast from economists surveyed by Dow Jones. The total also represented a sharp decline from the upward revised 195,000 jobs in January. The
Starship prototype SN9 launches from the company’s development facility in Boca Chica, Texas. SpaceX SpaceX’s Starship prototype exploded shortly after landing for the first time following a high-altitude flight test on Wednesday. The cause of the explosion, or whether it was intentional, was not immediately clear. The company test flew Starship rocket Serial Number 10,
U.S. President Joe Biden speaks during a bipartisan meeting on cancer legislation in the Oval Office at the White House in Washington, March 3, 2021. Alex Brandon | Pool | Reuters President Joe Biden on Wednesday slammed states that repealed Covid-19 restrictions on businesses and rescinded mask mandates for residents, calling the moves a “big
Douglas Sacha | Moment | Getty Images The timing of filing a 2020 tax return is extra important this year — if you get it right, it could lead to a bigger stimulus check. The Senate this week is expected to take up President Joe Biden’s $1.9 trillion stimulus plan, which includes $1,400 stimulus checks
A worker wrestles a stand of drill pipe into place on a drilling rig near Midland, Texas. Nick Oxford | Reuters The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s an important turning point for the oil and gas sector, which has been anticipating big
A Reddit logo seen displayed on a smartphone with stock market prices in the background. Omar Marques | LightRocket | Getty Images Shares of Rocket Companies dropped more than 11% in premarket trading Wednesday following a surprise rally in the previous session, as Wall Street analysts raised red flags on the frenzy trading. The online
Las Vegas Sands is selling Las Vegas. The price tag: $6.25 billion. Vici Properties said it will pay $4 billion for the real estate — comprising the Venetian, Palazzo and the Sands Expo Convention Center. Apollo Global Management will buy the operations for $2.25 billion, roughly half financed by Sands. The sale comes as Las
A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May 15, 2020. Angus Mordant | Bloomberg via Getty Images Walmart said Wednesday that it plans to back American manufacturers by spending an additional $350 billion over the next decade on items that are made, grown
[The stream is slated to start at 11 a.m. ET. Please refresh the page if you do not see a player above at that time.] President Joe Biden‘s Covid-19 response team is holding a news briefing Wednesday on the coronavirus pandemic, which has infected more than 28 million Americans and killed at least 516,616 in a
President Joe Biden speaks about the American Rescue Plan and the Paycheck Protection Program (PPP) for small businesses in response to coronavirus, in the Eisenhower Executive Office Building in Washington, DC, February 22, 2021. Saul Loeb | AFP | Getty Images President Joe Biden has backed a plan to cut the income caps for receiving
Critics fear the Hong Kong government’s extradition bill would allow China to seize suspects in the territory to face trial on the mainland. The FT’s Asia Editor Jamil Anderlini explains why so many people took to the streets on Sunday to protest. Read more at https://on.ft.com/2VLufvl ► Subscribe to FT.com here: http://bit.ly/2GakujT ► Listen to
romrodinka | iStock | Getty Images You may already have noticed that you’re spending more to fill your car’s gas tank. Don’t be surprised if the price keeps ticking higher. The national average cost for a gallon of gas has increased by about 18 cents over the last two weeks, on the heels of reduced
The contents of the Starlink Kit for customers, which includes the satellite antenna dish, a stand, its power supply, and a WiFi router. SpaceX SpaceX plans to build a new factory in Austin, Texas – adding another expansion to the region from one of Elon Musk’s companies after the billionaire founder moved there last year.
A virtual art piece titled “Everydays: The First 5000 Days.” Created by digital artist Beeple, it’s the first NFT-based work of art to go on auction at Christie’s. Christie’s From art to sports trading cards, people are spending millions of dollars on digital collector’s items. These crypto collectibles, known as NFTs, have exploded in popularity
Author Joanne Lipman said that New York Gov. Andrew Cuomo’s recent reported behavior toward women feeds into institutional sexism and fuels the enormous disparities in pay, promotion, and opportunity. “When we marginalize them [women], we don’t value them as much,” Lipman said on CNBC’s “The News with Shepard Smith.” “When we don’t value them as
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