White House economic adviser Larry Kudlow said on Tuesday that President Donald Trump wants to see a 7.6% cut in the payroll tax, hoping it will help staunch economic pain caused by the coronavirus pandemic.
In recent weeks, the coronavirus conversation has shifted. We’re starting to talk about the great reopening, the restart of the economy after months of enforced shutdowns. The practical effects will be played out in the various states, as some stay in lockdown while others move, in a range of ways, to restart the business of living.The results will inform the national debate, whether we’ll see the grim path of a prolonged recession, the rosy case of a V-shaped recovery, or something in between. But a full recovery is for the long-term; closer in, the risks are greater. Writing on the …read more […]
Nasdaq Inc has delivered a notice to China’s Luckin Coffee Inc informing it that it has to delist from the U.S. stock exchange, people familiar with the matter said on Tuesday.
Income Expert Marc Lichtenfeld explains the advantages of convertible bonds. This unique opportunity in fixed income allows investors to reap the benefits of stock appreciation and bond security. As an expert in equities and fixed income alike, Marc is always finding his readers the plays with the best profit potential. And in the bond market, the security of these plays can’t be matched. Read on below to discover how this security can help you stay invested in stocks without challenging your risk tolerance.
Stock investors have the opportunity to make considerable profits, but they have to take on risk in …read more […]
U.S. Treasury Secretary Steven Mnuchin said on Tuesday that he is continuing to see large unemployment numbers and other negative economic indicators during the second quarter, but the situation is expected to improve as the U.S. economy starts to reopen.
Dimon called the current situation a “call to action” that should prompt business and government to “lay the foundation for the kind of recovery we need [and] it is critical we do so.” …read more […]
U.S. President Donald Trump’s administration has awarded a $354 million contract to U.S.-based Phlow Corp to manufacture drugs being tested or used to fight the new coronavirus as well as some medicines that are in shortage.
United Airlines Holdings Inc said on Tuesday it has seen a moderate improvement in demand for air travel so far in May in the United States and some international markets, as well as a reduction in cancellation rates.
Kohl’s was forced to close all its U.S. stores to curb the spread of the virus, hammering sales and sending shares in the retailer some 63% lower so far this year. The company, which owns over 1,100 stores in the United States, had earlier withdrawn its full-year forecast, suspended share buyback plan and borrowed money to combat the pandemic’s impact. Department stores have been struggling even before the pandemic as consumers shift to online shopping and competition from fast-fashion brands add to the pressure. …read more […]
U.S. securities filings show that only three of 12 listed oil and gas companies that received emergency government aid made available for small businesses said they would return it ahead of a deadline for firms that do not need the funds to do so. The U.S. Treasury Department offered amnesty to public companies that return money they borrowed by May 18, saying it would deem they made the application in good faith due to economic uncertainty fueled by the coronavirus outbreak, before guidelines were clarified. The country’s energy sector has been clamoring for government aid in the wake …read more […]
Kohl’s Corp reported a surge in online sales in its coronavirus-hit first quarter on Tuesday and said it had reopened nearly half its stores as lockdowns eased across the United States, sending its shares around 5% higher.
U.S. drug manufacturer Phlow said on Tuesday it had received $354 million from the government to speed up the manufacturing of drugs being tested and used to fight the new coronavirus.
Airlines have been the among the worst hit by the coronavirus crisis, which brought travel to a virtual standstill around the world. “The company has also recently experienced a modest improvement in passenger demand and bookings in June 2020,” Southwest said in a regulatory filing. …read more […]
Walmart has also been ramping up hiring, temporarily increasing wages and spending more on the maintenance of its stores and fulfillment centers as frustrations mount among U.S. warehouse, delivery and retail workers in the United States over concerns about their safety and pay. Walmart also said it would discontinue Jet.com, an online start-up it acquired in 2016 for $3.3 billion. …read more […]
Asda, the British supermarket arm of the world’s biggest retailer Walmart , said on Tuesday its first-quarter comparable sales rose 3.5%, boosted by consumers stocking-up on food in response to the coronavirus crisis.
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