Business

Coca-Cola CEO James Quincey delivered a grim forecast for the global economy’s recovery from the impact of the coronavirus pandemic on Wednesday.  “The economic impact of the lockdown is just starting to begin,” Quincey said on CNBC’s “Squawk Box.” In the United States, more than 36 million Americans have applied for unemployment benefits since the coronavirus
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Pedestrians pass in front of an Urban Outfitters store in New York. Scott Mlyn | CNBC Check out the companies making headlines after the bell. Urban Outfitters — The clothing retailer’s stock tumbled 5% in extended trading after the company released its first-quarter financial results. Urban Outfitters reported a loss of $1.41 per share on
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Signs hang from the Meridian Heights apartment building in Northwes Washington on Monday, May 18, 2020. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) Caroline Brehman The unemployment drama playing out in the U.S. has drawn comparisons to the Great Depression, the worst economic downturn in the history of the industrialized world. But is
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U.S. President Donald Trump speaks during an event at the White House in Washington, D.C., U.S., on Friday, May 15, 2020. Stefani Reynolds | Bloomberg | Getty Images President Donald Trump said Monday that he has been taking anti-malaria drug hydroxychloroquine for over a week to prevent coronavirus infection even though it is not yet
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Moderna‘s closely watched early-stage human trial for a coronavirus vaccine produced Covid-19 antibodies in all 45 participants, the biotech company announced Monday, sending the company’s shares surging as much as 30% in premarket trading. Each participant received a 25 microgram, 100 mcg or 250 mcg dose, with 15 people in each dose group. Study participants received
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Consumer spending plunged by a record 16.4% in April, but one category saw a bounce: nonstore retailers. Included in this category, which saw an 8.4% month-over-month increase, is online shopping. With much of the country under shelter-in-place orders during April, consumers increasingly turned towards e-commerce giants like Amazon for their shopping needs. As the pandemic
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Dow Jones Industrial Average rises 60 points Biggest retail sales drop ever U.S. monthly retail sales fell by 16.4% in April, a record. So-called core retail sales — which exclude auto, gas, food and building materials sales — dropped 15.3%. Meanwhile, The Trump administration moved to block semiconductor shipments to Chinese company Huawei. Hu Xijin, editor-in-chief
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