Month: March 2020

President Donald Trump deployed the government’s powers to compel General Motors to make ventilators needed to help healthcare providers treat patients that contract coronavirus, as the number of US cases continues to grow.  The White House on Friday invoked the Defense Production Act, under which the president can compel companies to make certain products. “Our
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The earlier you start a Roth IRA the better, but opening a Roth IRA when you’re close to retirement can still make sense under some circumstances. Many are at their peak earning years late in their careers. You might find you have extra money available to invest after the mortgage is paid off and the
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CNBC’s Jim Cramer said Friday he did not think investors were properly factoring in the likelihood a successful antiviral treatment for COVID-19 is developed.  “Is anyone even thinking anymore that there is something going on at any drug company that actually may have an antiviral?” Cramer said on “Squawk on the Street.” “I have just been
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Puerto Rico bankruptcy Judge Laura Taylor Swain on Friday ordered the postponement of deadlines in the central government bankruptcy. The Puerto Rico Oversight Board, citing the impact of the COVID-19 virus on the island and involved lawyers, asked for the postponement on Sunday. Puerto Rico bankruptcy Judge Laura Taylor Swain has delayed some parts of
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The UK prime minister Boris Johnson has tested positive for coronavirus, Downing Street has announced. Number 10 said Mr Johnson had mild symptoms, notably a temperature and a cough, and would self-isolate for the next seven days. But officials insisted that he would continue to lead the government’s response to the crisis. Mr Johnson posted
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Moving outstanding debt on one credit card to another card—usually a new one—is a balance transfer. Credit card balance transfers are typically used by consumers who want to move the amount they owe to a credit card with a lower interest rate, fewer penalties, and better benefits, such as rewards points or travel miles. What
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The US has overtaken China to become the country with the largest number of confirmed coronavirus cases in the world, with 81,943 Americans now testing positive for Covid-19. State-by-state figures published late on Thursday showed confirmed cases of coronavirus in the US had overtaken the 81,285 cases reported by China, with the biggest outbreaks in
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Brendan McDermid | Reuters It might be premature to declare the bear market dead, but Thursday’s action sure checked off some important boxes. Conventional Wall Street wisdom is that bear markets, or 20% declines from 52-week highs, die on bad news, and Thursday featured some of the worst the U.S. economy has ever seen.  Nearly
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March 20, 2020 Investopedia’s mission is to help people be in control of their financial lives, and that mission is just as important as ever given the health and economic crisis we are all living through. We’ve organized the most important information about a variety of financial topics that are particularly relevant in today’s financial
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The COVID-19 novel coronavirus has caused a crisis for the world’s economy and markets. With over 137,000 cases confirmed in countries all over the world, the World Health Organization has declared the virus to be a global pandemic, meaning that it will have a sustained global impact.  With many countries’ economies already slowing before
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The European Central Bank has given itself an unprecedented level of flexibility in its plan to buy €750bn in additional bonds to contain the financial fallout from the coronavirus pandemic, which analysts say could leave it open to legal challenges. Almost all constraints that applied to the ECB’s previous asset-purchase programmes have been removed or
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When a government needs money to fund its operations, it can raise cash by issuing debt in its own currency. And if a government encounters difficulty repaying the bonds upon their maturity dates, it can simply print more money. While this solution has merit, on the downside, it will likely decrease the values of the
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Japanese stocks led a strong rebound for Asia-Pacific markets after the prospect of a $2tn coronavirus stimulus package propelled Wall Street to its best day in more than a decade. The rally came despite an increasingly dire situation in terms of the pandemic, as organisers postponed the Tokyo 2020 Olympic Games and the global death toll
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With a combined estimated net worth of $18.2 billion, the S.C. Johnson family is one of the richest American families. The family’s wealth was initially created by its namesake, who acquired a manufacturing company in 1886. The company was eventually taken over by his son Herbert Fisk Johnson. Since then, the family fortune has passed
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