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Coronavirus mortgage bailout program grows again as more homeowners delay payments

Applications to the government's mortgage bailout program have been swelling at a rate of about half a million a week.




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Landlords are worried increasingly fewer tenants will pay rent as coronavirus job losses mount

Rent is traditionally due on the first of the month, and with each passing month more tenants are becoming late on their payments.




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I just refinanced my mortgage, despite coronavirus. Here's what I learned

Two months after applying for a new loan, I closed on April 27. The process was painless, but some things were worth noting for those exploring an online mortgage or refinance during coronavirus.




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Coronavirus will shrink US home prices by 2-3% nationally, Zillow forecasts, but deeper dive could be in store

Home prices have only fallen nationally once since the Great Depression, and that was after the subprime mortgage crisis and the Great Recession. Now, barely eight years after hitting bottom, and after a mighty recovery, prices are predicted to fall nationally again, down 2-3% this year, according to Zillow.




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WeWork's Adam Neumann once said he had a 'beautiful relationship' with SoftBank's Masa Son; now he calls out 'abuse of power' in lawsuit filing

In the lawsuit, Neumann accuses Softbank of backing out of a key provision of its nearly $10 billion bailout agreed to in October. Neumann was the biggest beneficiary of the deal that would have seen him cash out $970 million worth of his stake in the coworking startup.




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Weekly mortgage applications show real recovery in homebuying, as interest rates set another record low

Homebuyers appear to be heading slowly back into the market, as the coronavirus-stricken economy begins to reopen.




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Consumer confidence in housing falls to lowest level since the subprime crash

The economic free fall from Covid-19 is taking its toll on what had been strong housing demand just a few months ago.




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Mall owner Brookfield will spend $5 billion to save retailers

Property and mall owner Brookfield Asset Management is targeting spending $5 billion to help struggling retailers, as the retail industry reels from the coronavirus pandemic, the company announced Thursday.




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NYC real estate market under pressure as coronavirus pandemic halts sales

New York City is the nation's largest real estate market, and the pandemic has caused a number of deals to go bust. CNBC's Robert Frank reports.




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Hilton is in a good position to withstand the coronavirus: Macquarie

As the travel and tourism industry struggles with the fallout from the coronavirus, Chad Beynon of Macquarie explains why Hilton's franchise business model makes it resilient in this challenging environment.




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Mortgage bailout swells to 4.1 million borrowers, but demand is slowing

In the past week, 225,000 more borrowers took advantage of government and bank mortgage forbearance programs, according to data firm Black Knight.




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Rural retail chain owner Stage Stores prepares for bankruptcy that could come as soon as next week

Stage Stores has about 700 department stores predominately in small towns and rural communities. It employed roughly 13,600 full-time and part-time employees as of February.




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Booking Holdings CEO says a coronavirus vaccine is needed to make travelers feel safe again

Even as economies start to reopen, Booking Holdings CEO Glenn Fogel said the travel industry will take years to recover to pre-coronavirus levels.




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Outback parent company Bloomin' Brands doubles down on takeout business after sales triple

Investing in delivery in recent years, including a rewards program and digital ordering, has paid off for Bloomin' in the long run and will continue to pay off going forward, Deno said.




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Consumer confidence plunges in April as millions lose jobs

The Conference Board said Tuesday that its confidence index tumbled to a reading of 86.9, the lowest level in nearly six years and down from 118.8 in March.




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Top ad firm outlines business sectors hit the most by the pandemic, and the ones that are faring better... for now

Sectors like health care or financial services have been less impacted by the pandemic so far, but Omnicom foresees demand for marketing services to decline as advertisers cut costs in the short term.




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Millions can't access unemployment benefits so actual job losses are likely greater than data shows

The number of Americans who have lost their jobs during the coronavirus pandemic could be even bleaker than official government data suggests.




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Federal Reserve seeks banks' advice as it gets into direct lending with coronavirus relief

The Federal Reserve has reached out to investment and retail banks for feedback on its Main Street lending program ahead of its formal launch, according to people familiar with the matter.




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The US will need to spend trillions more as economy takes until 2022 to fully recover: CNBC survey

A third of respondents in the CNBC Fed survey believe the economy won't be fully restored until the second quarter of 2022.




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The Fed may provide more details on the policy 'bazooka' it fired to help markets

The Fed is not expected to adjust rates but it could provide details on the unprecedented moves it has made to fight the virus impact.




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US GDP shrank 4.8% in the first quarter amid biggest contraction since the financial crisis

This marked the first negative GDP reading since the 1.1% decline in the first quarter of 2014 and the worst level since the 8.4% plunge in Q4 of 2008 during the worst of the financial crisis




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8-month 'structured lockdowns' could halve economic damage from the coronavirus, research claims

Researchers at Cambridge University and the U.S. Federal Reserve Board found that imposing no lockdown measures in the face of Covid-19 was "extremely risky" for developed economies.




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Trump to meet with executives from Waffle House, Wynn, Toyota, others to discuss reopening economy

Trump has been soliciting feedback from a wide range of executives on when and how to reopen businesses that have shuttered their doors amid the coronavirus pandemic.




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Powell says the economy will likely need more support from the Fed for the recovery to be 'robust'

Federal Reserve Chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis.




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Fed pledges to keep rates near zero until full employment, inflation come back

The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy.




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Plunge in health-care spending a big reason US economy sank in first quarter

The coronavirus crisis actually caused consumer health-care spending to plunge 18% in Q1.




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US consumer spending plunges 7.5% in March, reflecting virus

U.S. consumer spending plunged 7.5% in March, reflecting the growing impact of the coronavirus pandemic as Americans complied with stay-at-home orders.




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US weekly jobless claims hit 3.84 million, topping 30 million over the last 6 weeks

Jobless claims for the week ended April 25 came in at the lowest level in a month but bring the rolling six-week total to 30.3 million as part of the worst employment crisis in U.S. history




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April's jobs report showing millions out of work looms large in the week ahead

In the week ahead, the April jobs report is expected to show the highest unemployment since 1939.




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Test, trace, isolate: Governments need to do these three things before reopening economies, expert warns

A global health expert and physician told CNBC that easing lockdowns without taking certain action would risk a second surge in coronavirus infections.




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US services sector posts biggest contraction since 2009 as coronavirus halts economic activity

The U.S. services sector contracted for the first time in about a decade last month as the coronavirus pandemic brought economic activity in the country to a near-screeching halt.




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Consumer debt hits new record of $14.3 trillion

Household debt balances through March totaled $14.3 trillion, a 1.1% increase from the previous quarter and now $1.6 trillion clear of the previous nominal high of $12.7 trillion in the third quarter of 2008 during the financial crisis,




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Fed Vice Chair Clarida says more support may be needed, but economy to rebound next quarter

"More policy support will be needed from the Fed and possibly also fiscal policy. It just depends on how this evolves," Clarida told CNBC.




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Most 2020 swing state voters want more direct payments during coronavirus, CNBC/Change Research poll finds

Democrats are pushing for at least one more round of direct payments during the coronavirus crisis after many voters got $1,200 stimulus checks.




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Treasury launches 20-year bond to help fund the record borrowing needed this quarter

An auction May 20 will feature a sale of $20 billion worth as part of an effort to push the record-setting debt levels further out in terms of duration.




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US private payrolls drop by 20.2 million in April, the worst job loss in the history of ADP report

Private payrolls hemorrhaged more than 20 million jobs in April as companies sliced workers amid a shutdown that took most of the U.S. economy offline, according to a report Wednesday from ADP.




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NIH doesn't expect the coronavirus to rapidly mutate like the seasonal flu

"We don't think it will have this very rapid seasonal change that we have to deal with influenza," the head of the NIH tells Congress.




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NY Gov. Cuomo says he won't sacrifice human lives to reopen the economy: The argument is 'absurd'

"This is not a situation where you can go to the American people and say, 'How many lives are you willing to lose to reopen the economy?' We don't want to lose any lives," Cuomo said.




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Hydroxychloroquine fails to help hospitalized coronavirus patients in US funded study

Hydroxychloroquine, a decades-old malaria drug touted by President Donald Trump, didn't appear to help hospitalized patients with Covid-19, according to a new observational study.




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Trump says coronavirus tests are 'overrated,' but he will get tested daily

The new daily testing policy for the president and the people in his circle comes hours after the White House acknowledged that a personal valet for Trump tested positive for Covid-19.




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California identifies nail salons as source of coronavirus community spread, Gov. Newsom says

Unlike some other states that have announced reopenings, California nail salons won't be allowed to reopen until the state's phase 3.




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Frontier Airlines to check passenger temperatures. Too high, you won't fly

Before boarding, passengers and crew members will have their temperatures checked at the gate. If someone registers a temperature of 100.4 or higher, they will be kept at the gate.




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Spain reports uptick in daily coronavirus deaths; Australia plans reopening in 3 stages

Spain saw 229 new deaths related to Covid-19, up from 213 the day before.




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Republicans stall on next coronavirus relief bill, United Airlines halts $2.25 billion bond offering

Covid-19 has infected more than 3.8 million people around the world as of Friday, killing at least 269,881 people.




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Moderna CEO says supply of coronavirus vaccine will be limited, US will help decide who gets it first

"We will all be supply constrained for quite some time, meaning we won't be able to make as many product as will be required to vaccinate everyone on the planet," CEO Stephane Bancel said on CNBC's "Squawk Box."




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Trump shrugs off the brutal jobs report, focuses more on Michael Flynn case

Trump said he's not to blame after the Labor Department reported a devastating loss of more than 20 million jobs in the coronavirus crisis last month.




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US lawmakers urge Mnuchin to crack down on airlines cutting worker hours after taking billions in coronavirus aid

Three Senate Democrats are urging Treasury Secretary Steven Mnuchin to crack down on airlines that are cutting employee hours, despite billions in federal coronavirus relief.




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It's critical we have cheap, rapid at-home testing for Covid-19, but that could take weeks or even months, experts say

Most experts agree that Covid-19 testing is vital to safely reopen the economy. But getting to scale presents challenges, they say.




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New York City partners with Salesforce on coronavirus contact tracing program, mayor says

Salesforce will deploy a call center as well as a customer relationship and case management system that will help the city track potential cases and isolate people before they become sick, de Blasio said.




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Melinda Gates says US coronavirus response is 'chaos,' gives Trump administration a D-minus grade

Melinda Gates, co-chairman of the Bill & Melinda Gates Foundation, gave President Donald Trump's administration a "D-minus" on its handling of the coronavirus pandemic, criticizing lack of leadership on both national and international levels.