Tech lobby groups urge EU chief to save start-ups from collapse
Ursula von der Leyen, incoming president of the European Commission, left, speaks during news conference at the European Parliament, in Strasbourg, France, on Tuesday, July 16, 2019. Bloomberg | Bloomberg | Getty Images European tech industry groups are stepping up...
Jim Chanos says beware the ‘virus stocks’ like Peloton, Zoom benefiting temporarily from lockdowns
Short seller Jim Chanos warned investors about piling into “virus stocks” boosted by the coronavirus lockdown temporarily. “One area I would warn people about for example is the virus stocks,” Chanos said on Thursday on CNBC’s Halftime Report. They are “doing well...
US weekly jobless claims double to 6.6 million
The torrent of Americans filing for unemployment insurance skyrocketed last week as more than 6.6 million new claims were filed, the Labor Department reported Thursday. That brings to 10 million the total Americans who filed over the past two weeks....
Brace for coronavirus fallout to take stocks to new lows, $107B money manager warns
Wilmington Trust’s Meghan Shue warns two grim quarters are ahead — not just one. The firm’s head of investment strategy believes market losses will continue to pile up amid negative coronavirus data and headlines. “GDP in the second quarter could...
These states could be hit with the biggest job losses from the coronavirus pandemic
Pedestrians walk past a boarded up Lori’s Diner in San Francisco, California, U.S., on Tuesday, March 24, 2020. David Paul Morris | Bloomberg | Getty Images When the coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from...
Fed’s Eric Rosengren says the central bank ‘acted quickly’ but Congress will need to do more
Boston Federal Reserve President Eric Rosengren said Wednesday the central bank moved rapidly to address deterioration across multiple parts of the financial market that were crippled due to the coronavirus crisis. “At the central bank we’re focused on addressing, and...
These states could be hit with the biggest jobs losses from the coronavirus pandemic
Pedestrians walk past a boarded up Lori’s Diner in San Francisco, California, U.S., on Tuesday, March 24, 2020. David Paul Morris | Bloomberg | Getty Images When the Coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from...
Coronavirus effect could be ‘far deeper than the subprime crisis,’ says mortgage company CEO
For most mortgage borrowers, the first of the month is payment day. This month, however, is a very different story. Millions of borrowers have either lost jobs or income, and are suddenly struggling to make those monthly payments. Borrowers with...
Mnuchin says he will ask Congress for more small business loan funding if $350 billion pool runs out
US Treasury Secretary Steven Mnuchin speaks during the daily briefing on the novel coronavirus, COVID-19, at the White House on March 25, 2020, in Washington, DC. Mandel Ngan | AFP | Getty Images The small business measures aim to help...
Treasury Secretary Mnuchin says he’s having ongoing discussions about infrastructure
The Treasury secretary told CNBC he is holding discussions with Congress about a potential infrastructure bill.
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