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April 10, 2020
Home » Coronavirus: Business

Coronavirus: Business

CNBC Business

Frustration mounts on Main Street as entrepreneurs wait on banks and SBA for much-needed funding

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CNBC – For more and to sign up click here Some small business owners waiting for a lifeline in the form of Paycheck Protection Loans under the $2.2 trillion stimulus package have held out hope that a second and smaller form of aid might keep them afloat in the meantime.......
CNBC Business

Nancy Pelosi says the US ‘could have a depression’

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CNBC – For more and to sign up click here House Speaker Nancy Pelosi on Thursday told CNBC’s Jim Cramer it’s not clear when America could reopen for business, despite some optimism from the White House that it could happen next month. When asked if shops could open up in......
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Banks and health care companies will report earnings, but virus updates will matter most in week ahead

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CNBC – For more and to sign up click here People are seen wearing protective face masks outside a Chase Bank in New York, March 27, 2020. Noam Galai Major banks and health care companies will be the first to reveal how the early weeks of the coronavirus shutdowns impacted......
CNBC Business

New York City sees hospital stabilization

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CNBC – For more and to sign up click here New York City has seen a slowing need for ventilators and a stabilized hospitalization rate for coronavirus cases — but the city should “double down” on efforts to suppress the pandemic, Mayor Bill de Blasio said Wednesday. De Blasio said there......
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Treasury makes coronavirus loan terms less favorable for small businesses

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CNBC – For more and to sign up click here Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department changed the terms on......
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Delays in SBA loans for independent contractors, self-employed workers

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CNBC – For more and to sign up click here Business owners have been eagerly anticipating a $349 billion loan program meant to cushion the economic blow of the coronavirus pandemic. Some will have to wait a little longer. The Paycheck Protection Program, which officially opened for borrowers Friday morning,......
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JPMorgan says it’s not ready for small business loan applications

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CNBC – For more and to sign up click here A few hours before the expected launch of a federal program to dole out at least $350 billion in loans to small businesses struggling amid the coronavirus pandemic, none of the participating banks interviewed by CNBC were sure they’d be......
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Citigroup CEO says bank is ‘working around the clock’ on small business relief

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CNBC – For more and to sign up click here Citigroup CEO Michael Corbat said the bank is “working around the clock” on an online portal for the new $350 billion small business relief program. The program, which Treasury Secretary Steven Mnuchin has said will be up on Friday, is meant to......
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The coronavirus relief law gives businesses a motive to keep workers

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CNBC – For more and to sign up click here A tattoo parlor is temporarily closed in the Brooklyn Borough of New York, U.S., on Friday, March 20, 2020. Photographer: Gabby Jones/Bloomberg via Getty Images Bloomberg The $2 trillion coronavirus relief law signed by President Trump last week has several......
CNBC Business

Wheels Up, Russell Wilson team to help hungry

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CNBC – For more and to sign up click here With fears that food insecurity could spike as layoffs mount around the U.S. due to the coronavirus, private aviation company Wheels Up and NFL star quarterback Russell Wilson of the Seattle Seahawks have teamed up for a 10-million meal donation to......
CNBC Business

WPP pulls dividend, share buyback and guidance due to coronavirus

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CNBC – For more and to sign up click here WPP, the world’s largest advertising group, pulled its dividend and share buyback and withdrew guidance for 2020 on Tuesday, after clients cancelled marketing booked with the company due to the coronavirus crisis. “The actions we have taken in the last......
CNBC Business

Larry Fink says economy will recover from coronavirus

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CNBC – For more and to sign up click here Larry Fink Olivia Michael | CNBC Larry Fink, CEO of the world’s biggest asset manager BlackRock, told shareholders that the economy will recover from the coronavirus pandemic, and when it does, there will be “tremendous opportunities” to be had.  “In......
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Here’s who won’t qualify for beefed up coronavirus unemployment relief

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CNBC – For more and to sign up click here The $2 trillion coronavirus relief package President Donald Trump signed into law Friday significantly expands unemployment benefits for out-of-work Americans. The law pays laid-off and furloughed workers an extra $600 a week, for up to four months, and extends existing......
CNBC Business

Private-jet companies could get billions in aid from coronavirus bailout

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CNBC – For more and to sign up click here A Bombardier Inc. Learjet 40 XR aircraft, right, sits parked at Million Air in White Plains, New York, U.S. Paul Taggart | Bloomberg | Getty Images Private-jet companies could receive billions of dollars in loans, aid and tax relief from......
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Drive-ins boom as movie theaters close

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CNBC – For more and to sign up click here Only 5% to 10% of drive-ins across the U.S. are able to operate through the coronavirus, but they are seeing new business. Joe Sohm | Visions of America | Universal Images Group via Getty Images The coronavirus pandemic has led......
CNBC Business

Checkbook inventor is potential stimulus check distributor

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CNBC – For more and to sign up click here Shoreview, Minnesota-based Deluxe invented the checkbook a century ago. Now it may play a key role in distributing government stimulus checks, as well as help its small business clients get through the coronavirus crisis. Deluxe Corp. Chances are that your......
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US prepares crackdown on Huawei’s global chip supply, sources say

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CNBC – For more and to sign up click here The Huawei logo is display during CES 2018 at the Las Vegas Convention Center on January 9, 2018 in Las Vegas, Nevada. David Becker | Getty Images News | Getty Images Senior officials in the Trump administration agreed to new......
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Trump calls for classifying risk county by county

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CNBC – For more and to sign up click here WASHINGTON – President Donald Trump on Thursday laid out his vision for what he called the “next phase” in the war on the coronavirus pandemic that is sweeping the country.  In a letter to the nation’s governors, Trump said he and......
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Morgan Stanley CEO Gorman tells employees: ‘Your jobs are secure’

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CNBC – For more and to sign up click here Morgan Stanley CEO James Gorman told his employees that despite the upheaval caused by the coronavirus pandemic, their jobs will be secure through this year. “I am sure some, if not many, of you are worried about your jobs,” Gorman......
CNBC Business

Tesla, Ford top auto stock picks with traders

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CNBC – For more and to sign up click here Auto stocks are surging. The group saw double-digit moves Tuesday on the back of the broader stock market’s one-day recovery rally, fueled by hopes that Congress would pass its pending coronavirus stimulus plan. The Dow Jones Industrial Average closed more......

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