Business

Virus pushes Delta, Wells Fargo to rare quarterly losses Coronavirus pushed Delta Air Lines and banking giant Wells Fargo to rare quarterly losses, the companies said in some of the first quarterly reports of what’s expected to be a messy earnings season.  Delta posted a second-quarter loss of $5.7 billion, the airline’s largest since 2008. Air
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12 Min Ago Brazilian president uses hydroxychloroquine after testing positive for coronavirus Brazil’s President Jair Bolsonaro gestures before a national flag hoisting ceremony in front of Alvorada Palace, amid the coronavirus disease (COVID-19) outbreak in Brasilia, Brazil June 9, 2020. Adriano Machado | Reuters Brazilian President Jair Bolsonaro has said he tested positive for coronavirus
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Economic activity fell in all states during first quarter, raising concerns of potential cuts People wait in line as SF-Marin Food Bank hands out 1600 food bags in San Francisco on April 20, 2020. Work furloughs and layoffs created by coronavirus shelter-in-place orders are driving thousands to seek food assistance. San Francisco Chronicle | Hearst
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CNBC’s Jim Cramer on Wednesday deciphered between what he sees as speculative and blue-chip stocks in a market that’s shaped by the coronavirus pandemic. “The whole market’s being upended by the pandemic and the lines they are shifting,” the “Mad Money” host said. “Formerly rock-solid companies are now on dangerous footing. Formerly speculative outfits have
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A worker welding truck parts at a factory in Weihai, China, October 18, 2018. STR | AFP | Getty Images China on Tuesday said manufacturing activity expanded in June with the official Purchasing Manager’s Index coming in at 50.9. Economists polled by Reuters had expected the official manufacturing PMI number to come in at 50.4. PMI readings
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Adenilson Souza Costa, 47 years, and his coworkers wearing protective gear carry a coffin at Vila Formosa Cemetery amidst the coronavirus (COVID-19) pandemic on May 18, 2020 in Sao Paulo, Brazil. Alexandre Schneider | Getty Images The coronavirus has now killed more than 500,000 people around the world as the number of confirmed infections exceeded
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Mary Barra, chief executive officer of General Motors Co. (GM), left, and Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles NV, center, listen during a news conference outside the White House after a meeting with U.S. President Donald Trump, not pictured, in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images General Motors is
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Florida’s treasurer, Jimmy Patronis, on Wednesday dismissed concerns about the impact that spikes of coronavirus cases will have on the state’s welfare and economy. “People love to come to Florida,” Patronis said in a phone interview. He said he saw an opportunity for “profit-taking” as the state benefits from what he predicts will be more
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Connecticut Gov. Ned Lamont told CNBC on Tuesday that the leaders of Arizona and Texas, two states grappling with growing Covid-19 outbreaks, should reinstitute more aggressive containment strategies.  “I’d close down the bars,” Lamont, a Democrat, said on “Closing Bell.”  Both Arizona Gov. Doug Ducey and Texas Gov. Greg Abbott have said that a larger share of
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Wall Street players are divided between two investment themes as investors try to gauge which way the coronavirus response and economic recovery is headed, CNBC’s Jim Cramer said Monday. The optimistic and pessimistic investors are placing opposite bets in the market, explaining why both the recession and recovery stocks both carried the market higher, the
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The U.S reported some 30,000 new coronavirus cases on Friday, the highest number of daily infections recorded since May 1, according to data compiled by Johns Hopkins University. New cases across the country are surging faster than ever, especially in states in the South, West and Midwest. Officials are warning that some clusters of infections
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Attorney General William Barr told the top federal prosecutor in Manhattan, Geoffrey Berman, that he is fired in a letter Saturday, amid a power struggle over who will fill one of the most important federal law enforcement positions in the nation.  The Trump administration moved Friday night to nominate Securities and Exchange Commissioner Jay Clayton
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McDonald’s CEO Chris Kempczinski said Tuesday that the fast-food chain has created more Black millionaires than any other company but that it still has room for improvement when it comes to racial diversity. “Probably, McDonald’s has created more millionaires within the Black community than probably any other corporation on the planet, but there’s still work
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World Health Organization Director-General Tedros Adhanom Ghebreyesus R speaks at a daily briefing in Geneva, Switzerland, on March 2, 2020. Chen Junxia | Xinhua News Agency | Getty Images The World Health Organization said on Monday that more scientists globally should investigate disease clusters to analyze what is driving infection and causing further spread, in
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