WASHINGTON — President Donald Trump on Friday signed a sweeping spending bill to combat the spread of the new coronavirus, pumping billions of dollars into prevention efforts and research in hopes of quickly producing a vaccine for the deadly disease. Trump signed the bill on the same day worldwide cases surpassed 100,000 Lawmakers had worked through […]
Tag: business news
nonfarm payrolls up 273,000; unemployment 3.5%
A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters Nonfarm payrolls grew far more than expected in February as companies continued to hire amid […]
Coronavirus spread could spark more rate cuts: Economist Benn Steil
Council on Foreign Relations economist Benn Steil says the Federal Reserve’s half percentage point cut in interest rates may not be enough to keep the economy on track as the coronavirus spreads. “None of us would be surprised to see the Fed cutting further in the coming months,” the council’s senior fellow and director of […]
Microsoft says two employees have been diagnosed with coronavirus
Chief Executive Officer of Microsoft, Satya Narayana Nadella speaks during a presentation at the Mobile World Congress (MWC), on the eve of the world’s biggest mobile fair, on February 24, 2019, in Barcelona. GABRIEL BOUYS | AFP | Getty Images Two Microsoft employees in Washington state have contracted the coronavirus. They are among the more […]
Gap names Old Navy chief Sonia Syngal as CEO
Sonia Syngal, president and chief executive officer of Old Navy Inc., speaks during the Fortune’s Most Powerful Women Summit in Washington, D.C., on Tuesday, Oct. 22, 2019. Sarah Silbiger | Bloomberg | Getty Images Gap Inc. has tapped its Old Navy chief Sonia Syngal to be CEO, effective March 23, the company announced Thursday afternoon. Its shares […]
NYC confirms new cases, Southwest slashes revenue forecast
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 95,700, according to data compiled by Johns Hopkins University. Global deaths: At least 3,280, according to data compiled by Johns Hopkins […]
Zoom Video, American Eagle, FireEye, Moderna & more
Check out the companies making headlines before the bell: Zoom Video (ZM) — The video conferencing company reported earnings of 15 cents per share on revenue of $188.3 million. Wall Street was expecting earnings of 7 cents per share on revenue of $176.5 million, according to Refinitiv. American Eagle (AEO) — The retailer’s quarterly earnings beat on […]
US weekly jobless claims
Job seekers wait in line outside of Vertiport Chicago where Amazon was hosting a career fair on September 17, 2019. Scott Olson | Getty Images The number of Americans filing for unemployment benefits fell last week, suggesting the labor market was on solid footing despite the coronavirus outbreak, which has stoked financial market fears of […]
Chief Justice Roberts defends Gorsuch, Kavanugh after Schumer comments
US Supreme Court Chief Justice John Roberts (C) leaves the US Capitol, January 16, 2020, in Washington, DC. Olivier Douliery | AFP | Getty Images Chief Justice John Roberts issued a rare statement on Wednesday defending his newest colleagues, Justices Neil Gorsuch and Brett Kavanaugh, after Senate Minority Leader Chuck Schumer warned at a rally […]
Tesla customers in China irate over cars delivered with older hardware
A worker in a face mask walks past gates at the Tesla Gigafactory in Shanghai, China, on Feb. 17, 2020. Qilai Shen | Bloomberg | Getty Images Tesla customers in China are complaining the company delivered new Model 3s with a version of Autopilot hardware that was not as advanced as promised. According to a […]
