Layoffs in several of the nation’s biggest industries are making headlines this week. The list includes Disney eliminating 28,000 employees connected to the coronavirus theme park shutdowns, United Airlines and American Airlines collectively planning to put 32,000 workers on furlough, and insurer Allstate cutting almost 4,000 jobs. But MKM Partners’ Michael Darda suggests it’s not the time to
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Pfizer’s CEO Albert Bourla sent a memo to employees Thursday criticizing this weeks U.S. presidential debate as “disappointing,” saying the political rhetoric surrounding the outbreak and vaccine development is “undercutting public confidence.” “Once more, I was disappointed that the prevention for a deadly disease was discussed in political terms rather than scientific facts,” he wrote.
Nikola Motor Company Badger pickup truck Source: Nikola Motor Company Nikola shares surged on Thursday, one day after the company said its production timeline and factory plans remain on track amid widespread investor anxiety regarding the company’s business as well as its planned deal with General Motors. The stock soared by as much as 31%
This holiday season, shoppers aren’t planning on glitzy and gift-oriented celebrations. Instead, many are preparing for smaller gatherings, reining in spending and directing more of their dollars toward retailers that share similar values during the coronavirus pandemic, according to a new survey by Accenture. The majority of those surveyed — 61% — said they plan
The Leuthold Group’s Jim Paulsen considers Wall Street pessimism overdone. From the latest consumer confidence numbers to booming home sales, the firm’s chief investment strategist believes Main Street is accurately reflecting an unprecedented rebound, and investors will soon take notice. “A lot of good things happening here as we enter the fourth quarter,” Paulsen told
When o.d.o. by Odo reopens its dining room for the first time in more than six months on Wednesday evening, the 14-seat chef’s counter that helped create its intimate atmosphere will be empty. Instead, up to eight diners will sit in a private dining room after getting their temperatures checked to enjoy a prix fixe
Chinese battery and electric vehicle maker BYD shows off a model of its Han EV series at the 2020 Beijing auto show. Evelyn Cheng | CNBC BEIJING — Demand for luxury electric sedans is on the rise in China. In just over two months, orders for the “Han” line of electric cars from BYD — a Chinese
Time Square, New York, April 8, 2016, Times Square is a major landmark of New York, brightly adorned with billboards and advertisements. William Rodrigues dos Santos Harrison Chapman gave his girlfriend tickets to see “West Side Story” last December, thinking he had delivered the perfect Christmas present. However, two weeks before they were set to
A protester blocks the street leading to the Washington, D.C., home of U.S. Senate Majority Leader Mitch McConnell, R-Ky., demanding the extension of unemployment aid, on July 22, 2020. Jonathan Ernst | Reuters Stimulus checks and enhanced unemployment benefits that helped the poorest Americans weather the coronavirus pandemic are in danger of ending, throwing the
A municipal worker sanitizes a Roman Catholic Church graveyard after the burial of Covid-19 coronavirus infected people in Ranchi on September 6, 2020. AFP | Getty Images The coronavirus has killed at least 1 million people across the globe, a nightmarish milestone in the world’s fight against the virus that emerged from Wuhan, China, late
Porsche is working with third-party operators for more than 200,000 charging points in China. Evelyn Cheng | CNBC BEIJING – Luxury and electric vehicles emerged as bright spots at this year’s Beijing Auto Show, which kicked off this weekend in the aftermath of the coronavirus pandemic with about 200 fewer vehicles than previous shows. China
A pilot walks by United Airlines planes as they sit parked at gates at San Francisco International Airport on April 12, 2020 in San Francisco, California. Justin Sullivan | Getty Images United Airlines‘ pilots approved a plan to avoid furloughs that were set to begin as early as next month, the company said Monday, marking
U.S. government debt prices were lower on Monday as investors monitored rising coronavirus cases and political developments. The yield on the benchmark 10-year Treasury note rose to 0.66%, while the yield on the 30-year Treasury bond was also higher at 1.41%. Bond yields move inversely to prices. Signs of a worsening pandemic continue to keep investors
Antarctica Flights operates 12-hour sightseeing tours over the continent that take off and land on the same day. Courtesy of Antarctica Flights The coronavirus has ravaged the world now for nine months, with people across the globe enduring lockdowns of varying intensities, workplace and school shutdowns and restrictions on group gatherings. Yet there’s still one continent
Sam Fornasiero Sam Fornasiero For an instant, luck seemed to change for Sam Fornasiero. The 21-year-old’s phone call was put on hold — a noteworthy improvement relative to the 2,000-plus prior attempts to reach New Jersey’s unemployment bureau, by his estimation. The call went dead after a half hour of waiting. But Fornasiero has gotten good at
Gabriela Esparza and Zach Wu, wastewater control inspectors with EBMUD, cap 24 separate bottles while retrieving collection equipment and the samples in Oakland, Calif. on Tuesday, July 14, 2020. Paul Chinn | San Francisco Chronicle | Getty Images The Department of Health and Human Services is seeking bids from contractors that can carry out a
A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai on September 8, 2019. Alex Tai | SOPA Images | LightRocket via Getty Images SINGAPORE — Major index provider FTSE Russell said Thursday it will add Chinese government bonds to its flagship World Government Bond Index from October next year — a development
Shoppers stand in line to enter a Foot Locker Inc. store at the Queens Center shopping mall in the Queens borough of New York, U.S., on Wednesday, Sept. 9, 2020. Peter Foley | Bloomberg | Getty Images Dividends and buyback programs are slowly returning, but for some companies, the reinstatement of capital return plans follows