b

Hollywood's small businesses in crisis as coronavirus shuts everything down

Of the 5,900 businesses in Hollywood, 99.5% have less than 500 employees, and over 90% have fewer than 10 employees. Many are being forced to layoff or furlough employees as the coronavirus pandemic drags on.




b

Nearly a fifth of Wendy's US restaurants are out of beef, analyst says

Stephens Inc. said its estimate is based on an analysis of online menus for every Wendy's location nationwide.




b

Designers are now making fashion face masks and people can even buy a Billie Eilish one

A raft of fashion labels are now making non-medical masks to sell to consumers, including band t-shirt maker Bravado, which has made Rolling Stones, Queen and Ariana Grande versions.




b

Kroger CEO: Customers will have meat during the coronavirus pandemic, so long as they are 'flexible'

The supermarket chain executive said Kroger is working with new meat suppliers and diverting meat that would have gone to restaurants to try to stay in stock.




b

Gap plans to reopen 800 stores by the end of May

Gap Inc. is preparing to reopen 800 of its apparel shops by the end of May, as states such as Texas and South Carolina slowly begin to lift lockdown restrictions that were put into place due to the coronavirus pandemic.




b

'Today's norm to tomorrow's everyday routines,' CVS CEO says the pandemic will change customers' shopping, health-care habits

The health-care company's chief executive, Larry Merlo, said trends that emerged during the pandemic, such as use of telemedicine and prescription delivery to the home, may continue to be popular.




b

Luxury retailer Neiman Marcus files for bankruptcy as it struggles with debt and coronavirus fallout

The luxury department store chain had been struggling with competition from online rivals and dwindling cash before the pandemic.




b

Target in talks to boost its same-day delivery ambitions by buying pieces of startup Deliv

The aspect of the technology that interests Target is its ability to pool multiple orders and route them to a similar place, NBC News reports.




b

Trade groups representing PepsiCo, Procter & Gamble and others want guidance on factories from Pence

Trade groups representing the country's biggest consumer companies, including PepsiCo, Procter & Gamble and Clorox, wrote a letter to Vice President Mike Pence on Thursday urging federal guidance on how to safely manage their factory workers as states begin to reopen for business.




b

Stocks making the biggest moves midday: Lyft, Peloton, PayPal, Grubhub, T-Mobile & more

Check out the companies making headlines in midday trading.




b

The meat supply chain is broken. Here's why shortages are likely to last during the coronavirus pandemic

Challenges with the country's meat supply chain will likely linger as long as the coronavirus pandemic does causing periodic shortages.




b

Amazon and Microsoft trade barbs over JEDI contract appeal

The JEDI, or Joint Enterprise Defense Infrastructure, deal worth up to $10 billion has become one of the most tangled contracts for the Department of Defense.




b

Chief Justice John Roberts pauses order requiring Trump administration to turn over Mueller docs to Congress

The order would have required the Trump administration to turn over to Congress secretive materials produced in connection with Robert Mueller's Russian probe.




b

This chart shows how coronavirus jobs losses dwarf those in prior recessions

Jobs losses related to the coronavirus dwarf employment declines seen during prior U.S. recessions.




b

Federal watchdog finds top vaccine doctor should be reinstated, lawyers say

A government watchdog has found that there is evidence that federal scientist Rick Bright was ousted as head of a health agency for his pushback to a controversial coronavirus drug treatment embraced by President Donald Trump, Bright's lawyers said.




b

Wealthy New Yorkers are fleeing to the suburbs, driving up prices

CNBC's Robert Frank takes a look at how the luxury real estate market is changing during the coronavirus pandemic.




b

She fled coronavirus-stricken Brooklyn to live in Oklahoma: 'You're just in this survival mode'

Lindsey Marvel, 38, moved to New York because, she said, "I'm literally going big or going home." Now she's going home to Tulsa, Oklahoma. The effect that Covid-19 has had not just on her personal life, but on the city she loves, was simply too much.




b

Coronavirus: Wealthy New Yorkers flee Manhattan for suburbs and beyond

Brokers say buyers and renters coming from the city are asking for the same thing: more space and more distance from neighbors and crowds.




b

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.




b

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.




b

Homeowners should grab this emergency lifeline before it dries up

Wells Fargo and JPMorgan Chase are temporarily halting applications for home equity lines of credit. If other lenders follow suit, it could mean that homeowners will miss out on an emergency source of funding. What you should know.




b

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.




b

Ousted WeWork CEO Adam Neumann is suing SoftBank — Here's why

Founder and former CEO of WeWork Adam Neumann is suing SoftBank, the company's biggest investor. CNBC's Deidre Bosa reports.




b

Here's what homeowners need to know about forbearances

CNBC's Diana Olick breaks down what homeowners need to know about mortgage forbearances.




b

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.




b

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.




b

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.




b

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.




b

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.




b

Stocks making the biggest moves midday: Tesla, Uber, MGM Resorts & more

Check out the companies making headlines in midday trading on Friday.




b

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.




b

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.




b

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.




b

JC Penney in talks to fund potential bankruptcy filing next week

If J.C. Penney files for bankruptcy without financing in hand, it could doom the department store chain's restructuring process.




b

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.




b

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.




b

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.




b

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.




b

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.




b

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.




b

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




b

Pending home sales tank nearly 21% in March, but Realtors claim prices will hold up

Home sales took a deep dive in March as the coronavirus pandemic shut down much of the economy, and homebuyers and sellers pulled out of the normally busy spring market.




b

Over 50% of department stores in malls predicted to close by 2021, real estate services firm says

Department stores still represent about 60% of the anchor space within malls across the U.S. today, according to Green Street Advisors.




b

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.




b

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.




b

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.




b

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




b

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.




b

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.




b

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.