Kynikos Associates Founder Jim Chanos told CNBC on Thursday that he just closed a bet against Chinese coffee chain Luckin on Thursday after first taking a short position earlier in the year on advice from fellow short-seller Carson Block and his firm, Muddy Waters Research. Luckin Coffee is down more than 70% on Thursday after
A customer pays with cash at a Best Buy store in Texas, United States, on November 26, 2010. Aaron M. Sprecher | Bloomberg | Getty Images If you’re counting the days until you receive your stimulus money from the government, hold tight: It could take up to five months. A House Ways and Means Committee
As small business owners await a much-needed lifeline Friday in the form of a massive expansion of the Small Business Administration’s 7(a) lending program, new data show just how dire the situation is for Main Street as questions circulate about the program’s readiness. The National Federation of Independent Business’ Research Center is out with a
SAO PAULO (Reuters) – Emerson Barata draws a circular map of Sao Paulo’s largest slum, Paraisopolis, and begins to mark confirmed coronavirus cases in blue ink. At the center of the favela of around 120,000 people, which crowds between luxury apartment blocks and high-walled mansions, he draws four dots. An aerial view shows the city’s
New York Gov. Andrew Cuomo said a coronavirus outbreak in Long Island is “troubling” as the infection has now spread to every county across the state, surging to 92,381 with 2,373 deaths. “I’m doing everything I can, but people are still dying and that is hurtful and humbling and painful. Just painful,” Cuomo said. “And this
Chime Banking logo is seen displayed on a smartphone. Rafael Henrique | LightRocket | Getty Images Chime, the biggest U.S. digital bank start-up, is piloting a way for its users to receive their federal $1,200 stimulus checks instantly, weeks before the government is expected to send the payments. The San Francisco-based company said it randomly
This is breaking news. Please check back for updates. Short seller Jim Chanos warned investors about piling into “virus stocks” boosted by the coronavirus lockdown temporarily. “One area I would warn people about for example is the virus stocks,” Chanos said on Thursday on CNBC’s Halftime Report. They are “doing well right now in this enforced lockdown.
PeopleImages | E+ | Getty Images Restaurants and concert venues aren’t the only places that are off limits due to coronavirus. A visit to your tax professional is probably out of the question, too. States and localities have been imposing restrictions on social interactions as the number of COVID-19 cases continues to skyrocket: Thirty-eight states
Companies throughout the country trying to keep employees informed about coronavirus are facing another threat in the form of a flood of malicious emails, authorities say. In a U.S. Secret Service alert sent this week to law enforcement and banking officials, the U.S. Secret Service warns corporate America about fraudulent emails that contain malicious attachments.
Media playback is unsupported on your device The UK is aiming to carry out 100,000 coronavirus tests a day by the end of April, Health Secretary Matt Hancock said, as he announced a “five-pillar strategy” for testing. It comes as the government was criticised for not increasing the number of tests more quickly. Currently, there
Mini Me – The Londoner By: Rosie Ad – Shop this post Spring seems set to burst in the British countryside. The days are getting longer and warmer, the trees are beginning to blossom and despite everything that’s going on in the world, there’s a glimmer of hope dancing in on the breeze. We’ve been
As the global economy grinds to a halt, every business sector has been impacted, including the linked worlds of startups and venture capital. But how much has really changed? If you read VC Twitter, you might think that nothing has changed at all. It’s not hard to find investors who say they are still cutting
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 951,901 Global deaths: At least 48,284 US cases: At least 216,722 US deaths: At least 5,137 The data
A pedestrian passes in front of a Walgreens Boots Alliance Inc. store in the Hollywood neighborhood of Los Angeles, California. Christopher Lee | Bloomberg | Getty Images Walgreens Boots Alliance beat Wall Street earnings expectations Thursday, sending shares up about 3% in early trading. Here’s what Walgreens reported for its fiscal second quarter of 2020 compared
7:46 am: Walgreens earnings top estimates, boosted by stock up trend from coronavirus Walgreens Boots Alliance beat Wall Street earnings expectations Thursday, sending shares up about 3% in early trading. The drugstore chain reported earnings per share of $1.52, topping the $1.46 per share expected by analysts, according to Refinitiv. Revenue was $35.82 billion for the quarter,
The entrance to a Macy’s department store. Jeffrey Greenberg | Universal Images Group | Getty Images Macy’s is being dropped from the S&P 500, and in a sign of how far the fortunes of the retail space have fallen amid the coronavirus-related shutdowns, it is not being demoted to the mid-cap S&P 400, it’s being
GDPR and other data protection and privacy regulations — as well as a significant (and growing) number of data breaches and exposées of companies’ privacy policies — have put a spotlight on not just on the vast troves of data that businesses and other organizations hold on us, but also how they handle it. Today,
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
In this photo illustration the European Union flag logo seen displayed on a smartphone with a computer model of the COVID-19 coronavirus on the background. Budrul Chukrut | SOPA Images | LightRocket via Getty Images European countries are racing to save their tech start-ups as the region faces an impending economic downturn because of the
ABUJA (Reuters) – Governments across Africa are teaming up with technology giants including Facebook and WhatsApp to fight misinformation about coronavirus on social media platforms that could propel the pandemic on a continent with shaky healthcare systems. A man opens the Facebook page on his computer in Abuja, Nigeria March 19, 2020. REUTERS/Afolabi Sotunde South
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