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Macy’s at Valencia Town Center Mall opens for curbside pickup service during COVID-19 outbreak on May 21, 2020 in Santa Clarita, California. Robin L Marshall | Getty Images Macy’s on Wednesday said it swung to a first-quarter loss, in line with the retailer’s previously announced estimates, as its business took a hit from the coronavirus pandemic and
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Getty The Internal Revenue Service (IRS) continues to resume operations. According to the IRS Commissioner, as of mid-month, thousands of employees had returned to facilities in seven states (Kentucky, Texas, Utah, Georgia, Minnesota, Tennessee, and Missouri) with employees in four more states and Puerto Rico returning on June 29. The IRS will reopen facilities in
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From January through May, 10.9% of the global population of 2,825 billionaires made confirmed monetary donations to Covid-19 pandemic-related causes, according to a report published Tuesday by Wealth-X, a market research firm covering the world’s wealthiest people.  Other billionaires could have given money through a third party or anonymously, a Wealth-X spokesperson tells CNBC Make It,
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Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II/Getty Images The financial aid that jobless workers have been receiving to shore up household income during the coronavirus pandemic is poised for a dramatic reduction
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Adam Jeffery | CNBC Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard, which warned that investors were over-estimating a quick recovery in U.S. corporate earnings. Charles Dumas, chief economist at the economic research firm, told CNBC Tuesday that ”the
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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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As stores and shopping malls reopen, owners and retailers — already facing financial challenges — have a monumental task: making people feel safe in the age of coronavirus. Retailers everywhere are using technology to address the concerns of a public with heightened germ awareness. From contactless payment systems and touchless bathroom fixtures to self-cleaning elevator
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Rep. Bobby Rush, D-Ill. Ralf-Finn Hestoft | Corbis | Getty Image The bill, called the Student Recovery Eligibility for Low-Income Individuals to Exact Funds (RELIEF) Act of 2020, would make students receiving Pell Grants eligible to receive $1,200 stimulus checks. Federal Pell Grants are need-based funds given to low-income students to help them complete their
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By Bob Blancato, Next Avenue Contributor and Elder Advocate Getty As the national coordinator of the national and grassroots advocacy group, the Elder Justice Coalition, I believe the need to address elder justice has become even more urgent recently. Congress appears to think so, too. Elder justice is the holistic approach of preventing and handling
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A Burger King sign outside a restaurant in Glendale, California. Robyn Beck | AFP | Getty Images Burger King’s U.S. same-store sales are trending flat as customers return to its locations for Whoppers and french fries.  The Restaurant Brands International chain saw its same-store sales plunge by mid-30s in March as the coronavirus pandemic led consumers
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