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July 10, 2020
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Coronavirus: Business

CNBC Business

Don’t chase Chinese stocks at these levels, traders warn as Alibaba hits all-time high

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CNBC Business

CEO of Century 21 parent says suburban home search is up across the country, following New York’s lead

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CNBC – For more and to sign up click here As New York City goes, so goes urban centers across the U.S., according to Ryan Schneider, chief executive of Realogy Holdings. The coronavirus pandemic has pushed city dwellers and potential homebuyers to flee dense areas like New York and parts......
CNBC Business

Big restaurant chains are recovering faster than the rest of the industry, Bank of America says

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CNBC – For more and to sign up click here Big restaurant chains have largely recovered from the coronavirus pandemic, but the rest of the industry is taking longer to bounce back, according to a Bank of America study. Analysts Gregory Francfort and JonMichael Shekian used aggregated transaction data from Bank of......
CNBC Business

Disney confident in reopening this week even as coronavirus cases reach new highs in Florida

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CNBC – For more and to sign up click here Disney reopening this week even as coronavirus cases spike in Florida SEARCH QUOTES Source – Click here for more To Return to the Main Aggregate News Page – click here...
CNBC Business

Treasury’s Mnuchin backs narrower coronavirus aid package as talks with Congress resume

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CNBC – For more and to sign up click here Treasury Secretary Steven Mnuchin indicated Thursday that the White House will not back the kind of sweeping coronavirus relief it supported in earlier bills, instead opting for narrower aid even as the pandemic ravages the United States. Congress plans to......
CNBC - Real Estate

Wells Fargo tells new clients they need $1 million in balances for certain mortgage refinancings

CNBC Real Estate
Wells Fargo is raising the bar for new customers to get a popular mortgage product, CNBC has learned exclusively. The bank is now requiring new clients to bring at least $1 million in balances if they want to refinance a jumbo mortgage, up from a previous level of $250,000, according......
CNBC Business

Walgreens swings to a quarterly loss as coronavirus drives up costs, lowers doctor visits

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CNBC – For more and to sign up click here A customer views merchandise for sale at a Walgreens store in the Hollywood neighborhood of Los Angeles. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance said Thursday that the pandemic hurt its fiscal third-quarter results as fewer people went......
CNBC Business

Empty Manhattan apartments reach record levels, landlords slash rent

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CNBC – For more and to sign up click here A Chelsea Tower rental apartments billboard. Jeff Greenberg | Getty Images The number of apartments listed for rent in Manhattan reached record levels in June, as brokers remained unable to host showings amid the coronavirus pandemic and more renters left......
CNBC - Real Estate

U.S. may need another 1 billion square feet of warehouse space by 2025 as e-commerce booms

CNBC Real Estate
With online sales proliferating during the coronavirus pandemic, the U.S. is going to need more warehouses to store hoards of boxes and handle those orders.  Holed up at home, and with many bricks-and-mortar stores temporarily shut, shoppers have turned to their computers and smartphones to buy everything from fresh groceries......
CNBC - Real Estate

Home sales are ‘strongest’ in Texas, Arizona and other coronavirus hot spots, Taylor Morrison CEO says

CNBC Real Estate
Homebuilder Taylor Morrison posted record sales last month and saw the best output come from coronavirus hot-spot states, CEO Sheryl Palmer told CNBC on Wednesday. Home sales for the company nearly doubled in the month of June. “We have seen, if you think about the states that I think have......
CNBC Business

Universal shuffles horror movie slate as coronavirus pandemic worsens

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CNBC – For more and to sign up click here A scene for the movie Halloween released in 2018.  Source: Universal Studios As the coronavirus pandemic continues to worsen in the U.S., Universal Pictures is pushing a number of its upcoming horror films to new release dates. On Wednesday, the......
CNBC Business

June business spending showed slight improvement from May with bigger gains in some areas

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CNBC – For more and to sign up click here Business spending showed some signs of green shoots in June, as manufacturers bought more equipment and spending shifted away from stay-at-home sectors to ones that could rebound in a reopening economy, according to Cortera, a software company which analyzes business-to-business......
CNBC Business

‘The anxiety is so high’: Going back to school won’t look the same this year. Here’s what it means for retail

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CNBC – For more and to sign up click here A Wal-Mart Stores Inc. associate organizes school supplies at a Wal-Mart Stores Inc. location in the Porter Ranch neighborhood of Los Angeles, California. Patrick T. Fallon | Bloomberg | Getty Images Nobody really knows what the back-to-school shopping season is......
CNBC Business

Samsung’s next major smartphone launch set for August 5

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CNBC – For more and to sign up click here Samsung’s “Galaxy Unpacked” will take place on August 5, 2020. The South Korean electronics giant is expected to unveil a new device in its Note series of smartphones. Samsung Electronics Samsung is set to reveal its next major smartphone on......
CNBC Business

Levi’s sales fall 62% in second quarter, to cut 15% of corporate workforce

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CNBC – For more and to sign up click here The denim maker Levi Strauss & Co.‘s sales fell 62% during its fiscal second quarter, the company announced Tuesday, as its online sales weren’t enough to make up for its stores being temporarily shut for roughly 10 weeks during the......
CNBC Business

Regeneron signs a $450 million contract with the U.S. government for its coronavirus therapy

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CNBC – For more and to sign up click here A technician at Regeneron Pharmaceuticals headquarters in Tarrytown, New York. Mike Segar | Reuters Regeneron Pharmaceuticals said on Tuesday the U.S. government has granted the drugmaker a $450 million contract to make and supply its double-antibody cocktail that is being......
CNBC Business

Novavax soars after U.S. government awards firm $1.6 billion for coronavirus vaccine development

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CNBC – For more and to sign up click here The U.S. government has awarded Novavax $1.6 billion to cover testing, commercialization and manufacturing of a potential coronavirus vaccine in the United States, with the aim of delivering 100 million doses by January 2021. Shares of Novavax surged more than 35%......
CNBC Business

Shoppers across the country are retreating again as coronavirus cases surge

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CNBC – For more and to sign up click here An employee wearing a face mask is pictured inside a shop at Westfield Santa Anita mall during the outbreak of the coronavirus disease (COVID-19), in Arcadia, California June 25, 2020. Mario Anzuoni | Reuters Just as shoppers were beginning to......
CNBC Business

China told citizens to buy stocks, boosting market — ‘We have the Fed…China has its state media’

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CNBC – For more and to sign up click here Strategists say two factors are helping give legs to the global stock market’s Monday morning surge – bullishness about China and the view that central banks will backstop markets. A front page editorial in state-owned China Securities Journal is getting......

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