Jamie Dimon, CEO of JPMorgan Chase, released his widely-read annual letter on Monday. “We have the resources to emerge from this crisis as a stronger country,” Dimon said in the letter. “America is still the most prosperous nation the world has ever seen.” JPMorgan, the biggest U.S. bank by assets, is prepared for the tumult
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NEW DELHI: India’s edible oil imports declined 32.44 per cent to 9,41,219 tonne in March due to government restrictions on purchase of refined palm oil from the overseas market, trade body SEA said on Monday. India, the world’s leading vegetable oil buyer, had imported 13,93,255 tonne in March last year. The share of palm oil
This is a live blog. Please check back for updates. Global cases: More than 1.27 million Global deaths: At least 69,300 Most cases reported: United States (337,072), Spain (131,646), Italy (128,948), Germany (100,123), and France (93,773) The data above was compiled by Johns Hopkins University as of 8 a.m. Beijing time. All times below are
Crown Prince of Saudi Arabia Mohammed bin Salman al Saud at a ceremony to sign joint documents following Russian-Saudi talks at the Al-Yamamah Royal Palace. Alexei Nikolsky | TASS via Getty Images Oil prices dipped during early morning deals on Monday, shortly after the CEO of Russian sovereign wealth fund RDIF told CNBC that Moscow and
By MAHUA MOITRA The International Monetary Fund has already declared that the world is undergoing a global recession. This recession, unlike the global financial crisis of 2008, is not a financial markets recession but a personal one, not a supply side recession but a demand destruction. People are genuinely afraid of Covid-19, and this has
Boris Johnson, U.K. prime minister, speaks during a daily coronavirus briefing inside number 10 Downing Street in London, U.K., on Tuesday, March 17, 2020. Bloomberg U.K. Prime Minister Boris Johnson was admitted to a hospital for tests Sunday, 10 days after contracting the coronavirus. A Downing Street spokesperson said it’s a “precautionary step” since the prime
A person wearing a face mask walks along Wall Street after further cases of coronavirus were confirmed in New York City, New York, U.S., March 6, 2020. Andrew Kelly | Reuters U.S. stock futures rose on Sunday night as Wall Street tried to recover from another decline last week while investors shook off rising tensions between
NEW DELHI: Former RBI governor Raghuram Rajan has suggested to the government to call people with proven expertise and capabilities, including from opposition parties, to deal with perhaps the greatest emergency being faced by the country since Independence following the coronavirus outbreak. He also cautioned that driving everything from the Prime Minister’s Office, with the
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 1.2 million Global deaths: At least 65,711 US cases: At least 312,245 US deaths: At least 8,503. The
One of the advantages of being in the investment business for as long as I have is that, in times of incredible market distress, I get to invoke that wry and somewhat misleading saying, “Well, this isn’t my first rodeo.” Another advantage is that my past was full of so many research assignments that I
Rolling coins is one way of teaching kids about money. Michelle Fox | CNBC With many schools shut down to protect against coronavirus exposure, many parents have found themselves in a new role: teacher. So why not add some personal finance to your lesson plans? “This is the most amazing opportunity for doing things with
Author Simon Sinek speaks on stage during the Massachusetts Conference For Women 2019 in Boston on Dec. 12, 2019. Marla Aufmuth/Getty Images for Massachusetts Conference for Women 2019 Motivational speaker and author Simon Sinek also prefers to include another title alongside his name: optimist. Sinek’s books include titles like, “Find Your Why: A Practical Guide
Astra tests a rocket at its headquarters on the San Francisco Bay in Alameda, California. Astra Rocket builder Astra, a San Francisco-area startup, recently reduced its staff through a mix of furloughs and layoffs in order to survive delays caused by the coronavirus pandemic, a person familiar with the situation told CNBC. Astra cut its overall
A Cal Fire firefighter monitors a burning home as the Camp Fire moves through the area on November 9, 2018 in Magalia, California. Justin Sullivan | Getty Images First responders are preparing for raging wildfires that they expect will consume thousand of acres and drive some residents from their homes in upcoming months. But this
The Indian macroeconomic situation is bleak and all set to get worse if local or national lockdowns continue for some more time, renowned economist Jean Dreze said on Sunday. Dreze further said that due to the country-wide lockdown, social unrest in many parts of India has already started. The country is under a 21-day lockdown
A worker wearing protective garments sanitizes the Duomo square, during the coronavirus disease outbreak in central Milan, Italy. Flavio Lo Scalzo | REUTERS This is a live blog. Please check back for updates. Global cases: At least 1,197,405 Global deaths: At least 64,606 Top 5 countries: United States (308,850), Spain (126,168), Italy (124,632), , Germany (96,092),
NEW DELHI: The government on Saturday restricted the exports of diagnostic kits amid the outbreak of the Covid-19 outbreak. “The export of diagnostic kits (diagnostic or laboratory reagents on a backing, preparation diagnostic or laboratory reagents)… is restricted with immediate effect,” the Directorate General of Foreign Trade (DGFT) said in a notification. Earlier, the exports
Captain Brett Crozier addresses the crew for the first time as commanding officer of the aircraft carrier USS Theodore Roosevelt during a change of command ceremony on the ship’s flight deck in San Diego, California, U.S. November 1, 2019. U.S. Navy | Mass Communication Specialist 3rd Class Sean Lynch | Reuters A since-fired Navy captain’s plea
The government directed tax officials to dispose off applications filed by taxpayers or buyers or licence holders for lower or nil deduction of tax deducted at source (TDS)/tax collected at source (TCS) for FY20, by April 27, 2020. “Due to outbreak of the Covid-19 pandemic, there is severe disruption in the normal working of almost
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: At least 1,139,207 Global deaths: At least 60,874 US cases: At least 278,458 US deaths: At least 7,159 The data
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia’s Energy Minister Alexander Novak are seen at the beginning of an OPEC and NON-OPEC meeting in Vienna, Austria December 6, 2019. Leonhard Foeger | Reuters The virtual meeting between OPEC and its allies scheduled for Monday has been postponed, sources familiar with the
Elenaleonova | Getty Images Online tax preparation service TurboTax has launched a free stimulus registration website so that Americans who do not typically file tax returns can get their relief checks faster. Millions of Americans are slated to get one-time government checks of up to $1,200 or $2,400, based on whether they are single or
As the country grapples with an unprecedented pandemic that’s left millions of Americans unemployed, the U.S. Department of Education is giving most federal student loan borrowers a break from their monthly bills until at least October. That reprieve started on March 13 and goes until Sept. 30. And during that time, no interest will accrue
A man cleans up on the trading floor, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020. Lucas Jackson | Reuters The coronavirus pandemic has roiled capital markets, but it has also led to something that was once unthinkable on Wall Street:
By Simon Kennedy The world’s workers are reeling from the initial shock of the coronavirus recession, with job losses and welfare claims around the globe already running into the millions this week. As the International Labour Organization warns of almost 25 million layoffs if the virus isn’t controlled, the cuts from Austria to the U.S.
Chinese police officers wear protective masks as they stand in formation next to a national flag at half staff just before three minutes of silence to mark the country’s national day of mourning for COVID-19 at Beijing Railway Station on April 4, 2020 in Beijing, China. Across the country people paused, and sirens and horns
The trade between China and India fell 12.4 per cent year-on-year to USD 12 billion in the first two months amid the coronavirus outbreak, according to the latest data from Chinese customs. From January to February, China’s exports to India were 67.1 billion yuan (USD 9.5 billion), down 12.6 per cent on a yearly basis
A worker walks through a baggage claim area at a nearly-empty O’Hare International Airport on April 2, 2020 in Chicago, Illinois. Scott Olson | Getty Images The Department of Transportation said Friday that airlines must give customers refunds when flights are canceled or significantly delayed amid the coronavirus. The agency said it has received an
Dow Jones Industrial Average falls 360 points The Dow slid 360.91 points, or 1.69%, to close at 21,052.53. The S&P 500 closed 1.51% lower at 2,488.65. The Nasdaq Composite fell 1.53% to 7,373.08. Mounting worries over the coronavirus and a dismal jobs report pressured equities to end the week. Spike in NY coronavirus deaths New
Steven Mnuchin, U.S. Treasury secretary, speaks during a Coronavirus Task Force news conference at the White House in Washington, D.C., U.S., on Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department changed the terms on some loans it’s offering to small businesses during the coronavirus pandemic, making them less favorable
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