An empty parking lot is seen outside a closed JC Penney Co. store in Mt. Juliet, Tennessee, on Thursday, April 16, 2020. Luke Sharrett | Bloomberg | Getty Images Talks had been progressing with three potential bidders, including the mall owners Simon Property Group and Brookfield, to salvage the department store chain J.C. Penney —
Month: August 2020
Apple CEO Tim Cook delivers the keynote address during the 2019 Apple Worldwide Developer Conference (WWDC) on June 03, 2019 in San Jose, California. Justin Sullivan | Getty Images Check out the companies making headlines midday Monday: Apple — Shares rallied 3.5% as its long-awaited 4-for-1 stock split took effect. That gain made the tech
To celebrate Warren Buffett’s 90th birthday on Sunday, Bill Gates wrote a blog post honoring the pair’s 29-year friendship — and what may be the most important guidance Buffett ever gave him. Gates and Buffett first met in 1991 and bonded over their common love for math and numbers, Gates said in his post. Since then, Gates and Buffett
Apple CEO Tim Cook greets customers at the grand reopening of Apple’s flagship Apple Fifth Avenue retail store on September 20, 2019 in New York City. Taylor Hill | Getty Images Shares of Apple and Tesla rose sharply on Monday, the first day after their recently announced stock splits took effect, as investors continued to
U.S. President Donald Trump delivers his acceptance speech as the 2020 Republican presidential nominee on the South Lawn of the White House in Washington on Aug. 27. Carlos Barria | Reuters Workers who participate in President Donald Trump’s payroll tax deferral will see a temporary increase in their take-home pay, but they’ll likely see smaller
A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey. Chris Helgren | Reuters It’s time to say goodbye to the $200 ticket-change fee. United Airlines on Sunday said that it will permanently scrap fees to change domestic flights, a big bet that more flexible
China’s five largest banks reported their biggest profit declines in at least a decade as they brace for further increases in bad loans in an economy weakened by the coronavirus pandemic. The five lenders — Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Bank of Communications —
The coronavirus pandemic has uprooted most aspects of daily life. But some entrepreneurs are finding opportunities in crisis by sowing the seeds for a new future. CNBC Make It’s Karen Gilchrist speaks to three Singaporean start-ups to discover how their businesses are shaping a post-pandemic world. 07:36 Sun, Aug 30 20208:20 PM EDT
China on Monday announced that manufacturing activity expanded in the month of August as the country continued to recover from the coronavirus pandemic. The official manufacturing Purchasing Manager’s Index (PMI) for the month of August came in at 51.0 as compared to 51.1 in July, according to the National Bureau of Statistics. However, the pace of expansion missed
Warren Buffett Gerry Miller | CNBC They say 90 is the new 70, and in Warren Buffett‘s case it may be true. The chairman and CEO of Berkshire Hathaway announced today, on his 90th birthday, that his company has acquired a slightly more than 5% stake in each of the five leading Japanese trading companies.
The coronavirus pandemic has uprooted most aspects of daily life — and much of the economy built around it. But out of crisis comes opportunity. And for some young entrepreneurs, the pandemic has unearthed green shoots for a new future. In Singapore, fast-growing start-ups in the food, retail and technology industries have been working to respond
Philly fraud; under development; ran but couldn’t hide; and other highlights of recent tax cases. Philadelphia: Preparer Nvahbulai Quisiah has been sentenced to five years in prison for conspiring to defraud the U.S., preparing false client returns, wire fraud and identity theft. Quisiah owned and operated First Premier Tax Service (also d.b.a. Kosh & Associates)
Scott Gottlieb, former Commissioner of the FDA Adam Jeffery | CNBC Dr. Scott Gottlieb, former FDA chief under President Donald Trump, said on Sunday that the new guidance from the Centers for Disease Control and Prevention to not test asymptomatic people for Covid-19 was “unfortunate” because those people could be at high risk of contracting the infection. “We should
Warren Buffett is celebrating his 90th birthday on Sunday. The longtime chairman of Berkshire Hathaway and investing icon is still going strong with a career that’s stretching toward seven decades. Buffett’s sustained market success has earned him the moniker “The Oracle of Omaha” and a cult following of want-to-be financial savants hoping to soak up
DraftKings CEO and Co-Founder Jason Robins speaks during the unveiling of DraftKings headquarters March 26, 2019 in Boston, Massachusetts. Darren McCollester | Getty Images Stocks are once again at record high levels — with the S&P 500 now up over 21% on a one-year basis. That’s following Fed Chair Jerome Powell’s more-relaxed inflation targeting strategy,
DusanManic | iStock | Getty Images Many people’s retirement dreams received a reality check following the economic downturn caused by the coronavirus pandemic. New research shows that’s especially true for older workers. A recent report from Democrats on the Joint Economic Committee of Congress found that workers ages 65 and up were hit harder by
High-net-worth individuals are being identified by tax policymakers these days in various ways. While Portugal recently approved a 10 percent tax on foreign pension income, putting an end to the tax-free regime for foreigners approved during the financial crisis, Greece is looking into attracting foreigners with tax reductions. In order to transfer their tax residency
The U.S. Open tennis tournament is kicking off on Monday, following a wave of protests across the sports world that brought competition in professional tennis, basketball, baseball, and soccer to a halt this week. After initially pulling out of her match in protest at the Western & Southern open, a precursor to the U.S. Open,
Getty Images Now that Federal Reserve officials have sent a clear message on their desire for higher inflation, the tough part is convincing the world that they can pull it off. For the past decade, the Fed has struggled to get inflation up to the 2% target it sees as consistent with a growing economy
While Lousiana appears to have avoided the worst projections for Hurricane Laura, the storm is disrupting the state’s coronavirus response at a particularly crucial time as schools reopen, state officials and epidemiologists said. Louisiana Gov. John Bel Edwards warned earlier this week that the storm would disrupt the state’s coronavirus response efforts. “The challenge is
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