CNBC’s Jim Cramer said Friday he fears that the coronavirus-driven halt in the economy could leave the U.S. with only three retailers after the crisis ends. “If we come out of this sooner, then other, small businesses can open. If we come out of this later, there are going to be three retailers in this country,”
Investing
M. Llorden | Getty Images Companies holding low-rated debt are in for a brutal stretch as the economy heads into a coronavirus-induced recession, according to a forecast Friday. S&P Global Ratings said the default rate for high-yield, or junk, bonds is heading to 10% over the next 12 months, more than triple the rate of
A Bank of America financial manager shows a customer how to use the ATM with Teller Assist station in Cherry Creek. Andy Cross | Denver Post | Getty Images Bank of America said it was boosting pay for bank tellers and reducing daily work shifts by at least two hours amid the widening coronavirus epidemic.
Billionaire entrepreneur Mark Cuban told CNBC on Wednesday that companies that get federal assistance in response to the coronavirus crisis should be prevented from buying back stock ever again. “No buybacks. Not now. Not a year from now. Not 20 years from now. Not ever,” Cuban said on “Squawk Box.” “Because effectively you’re spending taxpayer money to buyback
US President Donald Trump gestures as CEO of Bank of America Brian Moynihan (L) speaks during a meeting with banking leaders to discuss how the financial services industry can meet the needs of customers affected by COVID-19 at the White House in Washington, DC on March 11, 2020. Brendan Smialowski | AFP | Getty Images