shot of social security card Kameleon007 People who receive Social Security benefits and who do not submit tax returns will not have to file in order to get a government stimulus check. The announcement by the Treasury Department and Internal Revenue Service on Wednesday night reverses earlier guidance that said those people would have to
By Sukanta Chaudhuri The same scene is being played out across India. Hordes of grim-faced, exhausted men, with a sprinkling of women and children, trudge down hot, dusty highways or throng bus stations and roadside shelters. A bus passes, loaded with 150-200 humans. All are out-of-job migrant workers returning to their villages hundreds of kilometres
A luxury sports car sits on display in a dealership in Manhattan on November 30, 2017 in New York City. Spencer Platt | Getty Images The coronavirus, led by stay-at-home regulations, brought U.S. vehicle sales to a grinding halt in many areas of the country and the worst is still yet to come, according to
U.S. stock futures rose in overnight trading and pointed to gains at the open on Thursday, as markets try to rebound after kicking off the second quarter in the red. Dow futures rose 218 points, indicating a 152-point gain at the open on Thursday. The S&P 500 and Nasdaq Composite were also set to open
NoDerog | iStock | Getty Images There may be a catch for individuals who typically don’t file a tax return but are expecting to receive a stimulus check. They may have to send a return to the government in order to get paid. New guidance was released on Monday by the IRS, which said there
Whiting Petroleum filed for bankruptcy protection on Wednesday, the first U.S. shale producer to do so as crude prices fall while major oil producers engage in a price war. Analysts have warned that falling oil prices will lead to a wave of consolidation or bankruptcies in the U.S. energy sector “The oil patch is falling apart. …
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. Lucas Jackson | REUTERS Heading into earnings season, investors should expect delayed reports, withdrawn forecasts and confusing results from U.S. businesses grappling with the coronavirus shutdown. There is a general consensus that company earnings are going
The Centre of Indian Trade Unions on Monday said it denounces government decision to drastically reduce the interest rates on small savings by around 140 basis points as it will financially impact the masses, demanding restoration of the rates . “This will affect financially the mass of the populace, the superannuated, income-less several crores of
The next coronavirus relief bill might resurrect the state and local tax deduction – and overburdened accountants are less than thrilled. In an interview with The New York Times, House Speaker Nancy Pelosi, D-Calif., raised the prospect of retroactively reinstating the so-called SALT itemized deduction in a fourth coronavirus relief bill to put more cash
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 885,000 Global deaths: At least 44,000 US cases: At least 190,000 US deaths: At least 4,100 The data above was compiled
U.S. President Donald Trump signs H.R. 748, the CARES Act in the Oval Office of the White House on March 27, 2020 in Washington, DC. Erin Schaff | Getty Images The $2 trillion coronavirus stimulus bill, signed into law on March 27, is the largest emergency aid package in U.S. history. Known as the CARES
Mohamed El-Erian said Wednesday that he would be hesitant to put cash to work, arguing the stock market is still on a downward trend due to the coronavirus pandemic. But he offered a road map for investors who feel inclined to add to their portfolios. “Whatever cash you have, divide it over five installments,” El-Erian said on CNBC’s “Squawk
George Milling-Stanley has sometimes been referred to as the “Godfather” of the gold business. While at the World Gold Council, he was among a small group that helped create the SPDR Gold Trust (GLD) in 2004, now the world’s largest gold exchange-traded fund with over $50 billion in assets. He is now chief gold strategist
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday announced more measures, including extension of period for realisation and repatriation of export proceeds, to deal with the economic fallout of Covid-19 pandemic. It also increased ways and means advances (WMA) limit by 30 per cent from existing limit for all states and union territories.
This is a live blog. Please check back for updates. Global cases: More than 856,900 Global deaths: At least 42,081 Top 5 countries: United States (187,919), Italy (105,792), Spain (95,923), China (82,278), and Germany (71,808) The data above was compiled by Johns Hopkins University as of 7:58 a.m. Beijing time. All times below are in
Oaktree Capital co-chairman Howard Marks is leaning toward a more negative outlook because of the uncertainty from the coronavirus pandemic, but still, he said investors can do some buying as “things have gotten cheap enough.” Speaking to CNBC on Tuesday night Eastern Time, the billionaire investor said: “I personally think that securities are low enough
New Delhi: Finance ministers and central bank governors of the G20 met virtually on Tuesday to coordinate efforts in response to the Covid-19 pandemic and agree on a roadmap to implement commitments made at the virtual G20 leaders’ summit held on March 26. The ministers decided on delivering a joint G20 Action Plan, which will
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 850,000 Global deaths: At least 41,000 US cases: At least 184,100 US deaths: At least 3,700 The data above was compiled
U.S. stock futures moved lower in overnight trading and pointed to declines at the open on Wednesday, following the end of the worst first quarter on record for the Dow and S&P 500 spurred by the coronavirus sell-off. Dow Jones Industrial Average futures fell more than 1.2%, indicating a loss of about 220 points. The
A Jeep Renegade rolls down an assembly line at Fiat Chrysler’s Melfi assembly plant in Italy in 2015. Michael Wayland / CNBC Check out the companies making headlines after the bell. Verint Systems — Shares of the analytics company tumbled 12% in extended trading after Verint Systems missed analysts’ estimates on both earnings and revenue in
NoDerog | E+ | Getty Images Those government stimulus checks should be on their way soon to millions of Americans. Many people have still have a lot of questions about them. Last week, Washington lawmakers approved a $2 trillion relief bill in response to the coronavirus outbreak that includes a payment of $1,200 for single taxpayers
Don’t be surprised if your employer pauses its contributions to your 401(k) plan during the U.S. economic downturn. As the coronavirus pandemic wallops the economy, and businesses deal with dropping revenue and limited cash flow, employers are exploring how to trim their obligations to those plans without violating federal regulations. Companies commonly give to worker’s
Investors grew increasingly concerned about the U.S. economy and the stock market as March wore on, but they also said they aren’t ready to abandon their stocks, according to several surveys. The vast majority of the institutional clients surveyed by Citi expect an economic downturn and earnings estimates to be cut further in 2020, but they
The government’s fiscal deficit touched 135.2 per cent of the full-year target at February-end mainly due to slower pace of revenue collections, according to an official data released on Tuesday. In actual terms, the fiscal deficit or the gap between expenditure and revenue was Rs 10,36,485 crore, the data by the Controller General of Accounts
Governor Andrew Cuomo Speaks at a press conference in New York, United States, on March 30, 2020. US Army Corps of Engineers completes a temporary field hospital at the Jacob K. Javits Convention Center as the coronavirus continues to spread on March 30, 2020 in New York City. John Lamparski | NurPhoto | Getty Images
The market is wrapping up a brutal quarter as investors search for a bottom in the fastest bear market ever amid the coronavirus crisis. The Dow Jones Industrial Average is on track to post its worst first quarter in history, but the recent sharp rebound raises the question if the worst is behind us. Here’s
Amid a global pandemic and sharp economic slowdown, college-bound high school seniors are giving their state schools a second look. Thanks to heightened financial concerns, students and families may be more likely to choose local and less-expensive public schools rather than private universities far from home, according to Robert Franek, editor in chief of The Princeton Review
Investors who are seeking to capitalize on the stock market’s recent steep declines must be disciplined, Bank of America Vice Chairman Keith Banks said Tuesday. “I think a lot of people are trying to get clever and time the market,” Banks said on “Squawk Box.” “The reality is, it’s time in the market, not timing the market.”
NEW DELHI: Trade and investment ministers of the G-20 group have agreed to ensure fair trade and continued flow of vital medicines as well as other essential goods to tackle Covid-19 pandemic. According to a joint statement issued after a video conference, the ministers agreed to support the availability and accessibility of essential medical supplies
European markets advanced on Tuesday, following a positive lead set in Asia after Chinese manufacturing data rebounded in March. The pan-European Stoxx 600 climbed 1.7% in early trade, with travel and leisure stocks jumping 4.7% to lead gains as all sectors and major bourses entered positive territory. European stocks reacted positively to data out Tuesday
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