Evan Spiegel, co-founder and chief executive officer of Snap Inc., stands on the floor of the New York Stock Exchange during the company’s initial public offering on Thursday, March 2, 2017. Michael Nagle | Bloomberg | Getty Images Snap‘s stock price initially plunged more than 11% after hours then moderated […]
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United Airlines loses $1.6 billion in the second quarter as pandemic saps travel demand
A United Airlines Boeing 777-200 aircraft Nicolas Economou | NurPhoto | Getty Images United Airlines posted a $1.63 billion net loss for the second quarter, driven by a plunge in air travel demand because of the coronavirus pandemic, the carrier said Tuesday. Revenue fell more than 87% from a year earlier […]
Dow pulls out 150-point gain as Big Tech leaders drag Nasdaq down
The Dow Jones Industrial Average and S&P 500 closed higher on Tuesday as traders booked profits from the major tech names and added to positions in the more beaten-down value stocks. The 30-stock Dow gained 159.53 points, or 0.6%, to close at 26,840.40. The S&P 500 climbed 0.2% to 3,257.30. […]
Key Senate committee approves Shelton, Waller for Fed positions
The Senate banking committee on Tuesday approved controversial Federal Reserve nominee Judy Shelton as well as Christopher Waller for two vacancies on the central bank’s board of governors. Their nominations now head to the full Senate for confirmation. President Donald Trump had announced his intention to nominate the pair in […]
Tesla could soon join the S&P 500 — but inclusion isn’t automatic, even with a full year of profitability
Tesla plans to report its second quarter results on Wednesday after the market closes, and all eyes are on the company’s bottom line this period. That’s because a fourth consecutive quarter of reported profitability on a GAAP basis would make Elon Musk’s electric car company eligible to join the S&P 500 index. […]
Employment recovery going backward in states hit hard by virus, small business data shows
Marco Bello | Reuters The jobs recovery has slowed and, in some cases, reversed as coronavirus cases have surged in sunbelt states where case numbers are climbing and governors have reinstated economic restrictions. Data from Homebase, a scheduling firm whose daily updates on hourly workers have been closely watched by […]
Dow rallies 300 points, but Nasdaq falls as tech struggles
The Dow Jones Industrial Average and S&P 500 traded higher on Tuesday as traders booked profits from the major tech names and added to positions in the more beaten-down value stocks. The 30-stock Dow gained 307 points, or 1.2%. The S&P 500 climbed 0.5%. The Nasdaq Composite, meanwhile, dropped 0.5% […]
Billionaires in New York could pay $5.5 billion a year under new tax
New York’s billionaires would pay about $5.5 billion a year under a new tax being proposed by Democrats in the state legislature. The tax, part of a new “Make Billionaires Pay” campaign by progressive lawmakers and activists, would impose a new form of capital gains tax on New Yorkers with […]
Walmart to spend $428 million on new round of worker bonuses, retailer will close on Thanksgiving
Customers wearing face masks shop at a Walmart supermarket amid novel coronavirus outbreak on July 15, 2020 in Washington, DC. Sha Hanting | China News Service via Getty Images Walmart said Tuesday that it will give another round of bonuses to hourly employees and close its stores on Thanksgiving Day. The […]
Germany’s coronavirus response is a master class in science communication
CNBC is looking at how places around the world have tackled Covid-19. By talking to a wide range of experts, as well as everyday citizens, we’re taking stock of what’s gone well — and what hasn’t. Germany has confirmed more than 200,000 cases of Covid-19 and more than 9,000 deaths […]