Private equity firm KKR’s co-chief executive officer and co-founder, Henry Kravis, said 80% of companies that it controls now have at least two board directors with diverse backgrounds. The firm set out to reach that threshold a few years ago and accomplished that in the first quarter of 2020, Kravis told CNBC’s Seema Mody on “The Exchange.”
Business
At Chris Purcell’s Firehouse Subs location in Elizabeth City, North Carolina, things aren’t quite business as usual. After suffering sales drops of as much as 60% during the height of the coronavirus pandemic, customers are starting to return. Now it’s all about making them comfortable and keeping employees and patrons alike safe in his store,
Sandy Weill, former CEO of Citigroup. Adam Jeffery | CNBC Sandy Weill, the former Citigroup CEO and chairman who helped create the megabank model in the 1990s, said Friday that Morgan Stanley and Charles Schwab were “really very good buys.” Bank stocks have been hammered this week, giving back recent gains tied to the reopening
People walk past the Calvin Klein store at the Woodbury Common Premium Outlets Mall on October 21, 2017 in Central Valley, NY. Gary Hershorn | Getty Images Check out the companies making headlines after the bell. Adobe — The software company’s stock rose 4% in extended trading after Adobe ptovided its second-quarter earnings. Adobe reported
Demonstrators cross the Brooklyn Bridge on June 4, 2020. Justin Heiman | Getty Images Corporate America has joined protesters in condemning the death of George Floyd at the hands of police and calling for action to confront racial injustices and racial inequalities in the United States. “There are in fact barriers that are faced by
Chinese tourists with facial masks stand in front of the New York Stock Exchange (NYSE) on February 3, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images U.S. pressure on Chinese stocks looks set to accelerate the growth of capital markets in Hong Kong and mainland China, as investors
People ride past murals painted on boards covering bar windows on 6th Street on May 20, 2020 in Austin, Texas. Tom Pennington | Getty Images Texas health authorities said there are currently 2,153 patients sickened with Covid-19 across its hospitals, marking the third-straight day Wednesday of record-breaking coronavirus hospitalizations in the state. The new total
Standard Chartered headquarters and a HSBC building are pictured on March 16, 2020 in Hong Kong. Zhang Wei | China News Service via Getty Images A major shareholder in both HSBC and Standard Chartered has hit out at the banks over their support for China’s controversial new national security law in Hong Kong. In a
National Institute of Allergy and Infectious Diseases Director Anthony Fauci attends the daily coronavirus briefing in the Brady Press Briefing Room at the White House on April 09, 2020 in Washington, DC. Alex Wong | Getty Images White House health advisor Dr. Anthony Fauci said Covid-19 turned out to be his “worst nightmare” come to
A new bill that targets Chinese companies listed on U.S. exchanges could not only “backfire” on American investors, but also hurt Wall Street — which will lobby against the legislation, a Harvard professor told CNBC on Tuesday. Amid a tide of anti-China sentiment stateside, the U.S. Senate last month passed a bill that could essentially ban
The first Boeing 737 MAX 9 airliner is pictured at the company’s factory on March 7, 2017 in Renton, Washington. The 737 MAX 9, which can carry up to 220 passengers, is the second of three variants of the popular single-aisle model. Getty Images Boeing logged orders for new freighter planes in May, but cancellations continued
It appears a major shift is underway in the bond market. BofA Global Research’s Mark Cabana sees an improving jobs market adding fuel to the Treasury yield rally and providing some relief to the Federal Reserve ahead of Tuesday’s policy meeting. “We were really thinking that the economy would still really struggle to rebound in
Hundreds of thousands of employees are expected to return to work in New York City on Monday as the city moves into its first phase of reopening after nearly 3 months of restrictions and closures. Shops can partially reopen for curbside pickup, though most of the resumed economic activity will be in construction and manufacturing.
Stanley Druckenmiller Adam Jeffery | CNBC Legendary investor Stanley Druckenmiller said tech giants Amazon and Microsoft are still among his biggest holdings, but noted he is quite bearish on growth stocks as a group. “I have still something like Amazon and Microsoft in my largest holdings, but I have the least growth weighting in my
Ice T is seen on set of ‘Law and Order: Special Victims Unit’ on March 06, 2020 in New York City. Jose Perez/Bauer-Griffin After months of production shutdowns, Hollywood is eager to get the cameras rolling again. But that’s easier said than done in as coronavirus continues to spread. While several states have issued proposed
A view of the fearless girl wearing a mask in front of the New York Stock Exchange in New York City USA during coronavirus pandemic on April 25, 2020. John Nacion | NurPhoto | Getty Images U.S. stock futures rose slightly on Sunday night following last week’s sharp gains amid optimism over the economy reopening. Dow
The question of whether to reopen schools in the fall has a “complicated answer” and the decision will depend on the coronavirus’ transmission in certain regions of the U.S., White House health advisor Dr. Anthony Fauci said on Friday. “It has to be a bit of a — and I don’t mean lengthwise — a bit of
Spencer Platt | Getty Images The unemployment rate in the U.S. improved last month as millions of people returned to the workforce. But the official 13.3% unemployment rate, while still high relative to any point since the Great Depression in the early 20th century, likely understates the economic damage wrought by the coronavirus pandemic. The