Tag: Business

Trump nominates Amy Coney Barrett to Supreme Court, setting up election year confirmation battle
Business news

Trump nominates Amy Coney Barrett to Supreme Court, setting up election year confirmation battle

President Donald Trump announced on Saturday that he will nominate Judge Amy Coney Barrett to fill the vacancy left by the death of Justice Ruth Bader Ginsburg on the Supreme Court. "She is a woman of unparalleled achievement, towering intellect, sterling credentials, and unyielding loyalty to the Constitution," Trump said at an event hosted at the White House Rose Garden.  Barrett is a 48-year-old federal appeals court judge favored by social conservatives and the religious right. Her confirmation to replace Ginsburg, a feminist icon who sat on the bench for 27 years, would solidify a 6-3 majority for Republican appointees on the bench for the foreseeable future.  Trump's announcement came just 38 days before voters will decide whether he will hold the White House for a sec...
Trump Supreme Court pick Amy Coney Barrett ensures abortion fight for election’s final day
Business news

Trump Supreme Court pick Amy Coney Barrett ensures abortion fight for election’s final day

President Donald Trump's selection of Amy Coney Barrett to replace Justice Ruth Bader Ginsburg on the Supreme Court has teed up a colossal clash over religion and reproductive rights to play out in the final days before Election Day.  Trump will nominate Barrett on Saturday, following Ginsburg's death a week ago from complications due to pancreatic cancer, NBC News has learned.  Barrett, a devoted Catholic, is a favorite among religious conservatives and a target of those on the left who say she is likely to vote to undo the court's longstanding abortion protections. Trump has sought to develop his anti-abortion credentials while in office, repeatedly pushing for a late-term abortion ban during his State of the Union addresses to Congress. Trump pledged during his 2016 campa...
Trump selects Amy Coney Barrett to fill Ginsburg Supreme Court vacancy
Business news

Trump selects Amy Coney Barrett to fill Ginsburg Supreme Court vacancy

Judge Amy Coney Barrett Matt Cashore | Notre Dame | Reuters President Donald Trump has selected Judge Amy Coney Barrett to fill the vacancy left by the death of Justice Ruth Bader Ginsburg on the Supreme Court, NBC News has learned.  Trump is expected to make an official announcement at an event planned for 5 p.m. ET Saturday.  Barrett is a 48-year-old federal appeals court judge favored by social conservatives and the religious right. Her confirmation to replace Ginsburg, a feminist icon who sat on the bench for 27 years, would solidify a 6-3 majority for Republican appointees on the bench for the foreseeable future.  Trump's announcement will come just 38 days before voters will decide whether he will hold the White House for a second term, and is bound to h...
These companies are returning more money to shareholders after cutting jobs
Business news

These companies are returning more money to shareholders after cutting jobs

Shoppers stand in line to enter a Foot Locker Inc. store at the Queens Center shopping mall in the Queens borough of New York, U.S., on Wednesday, Sept. 9, 2020. Peter Foley | Bloomberg | Getty Images Dividends and stock buyback programs are slowly returning, but for some companies, the reinstatement of these plans follows layoffs and permanent job cuts.   In March and April, the coronavirus pandemic spurred many companies to put their share buyback programs on pause and suspend or slash their dividend payments. In the case of some companies, like airlines and restaurant chains, the measure was part of a scramble for cash as the crisis threw their businesses into turmoil and demand collapsed. In the second quarter of 2020, dividend payments fell to their lowest level...
Dow futures turn lower as market struggles to avoid losses for the week
Business news

Dow futures turn lower as market struggles to avoid losses for the week

A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City. Johannes Eisele | Getty Images U.S. stock futures were lower early Friday as the market indexes tried to avoid a fourth consecutive week of losses. Futures for the Dow Jones Industrial Average implied an opening loss of more than 50 points. Contracts tied to the S&P 500 and the Nasdaq Composite also traded in positive territory. The drop in futures comes after the three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4%, and has also been the best performing index this week. That outperformance for the tech-heavy index is a reversal from earlier d...
House Democrats prepare new $2.4 trillion stimulus plan with unemployment aid, direct payments
Business news

House Democrats prepare new $2.4 trillion stimulus plan with unemployment aid, direct payments

Speaker of the House Nancy Pelosi (D-CA) speaks during a briefing to the media on Capitol Hill in Washington, September 10, 2020. Joshua Roberts | Reuters House Democrats are preparing a new, smaller coronavirus relief package expected to cost about $2.4 trillion as they try to forge ahead with talks with the Trump administration, a person familiar with the plans said Thursday. The bill would include enhanced unemployment insurance, direct payments to Americans, Paycheck Protection Program small-business loan funding and aid to airlines, among other provisions, the person said. To reach the price tag, Democrats would chop roughly $1 trillion from their previous proposal for a fifth pandemic aid plan. The party aims to restart stimulus negotiations with the White House after t...
Amazon announces new Fire TV devices and a brand new home screen
Business news

Amazon announces new Fire TV devices and a brand new home screen

Amazon Fire TV Stick Lite Amazon Amazon announced two new Fire TV products during its big online hardware event on Thursday. Amazon's Fire TV gadgets compete directly with Roku and Apple TV, offering people access to popular apps like Disney+, Netflix, Hulu and more.  Amazon says people are spending more time in front of TVs than ever before due to the spread of coronavirus. It sees the TV as a the center of the household and wants to get even more features in front of users to keep them coming back. The new features may help it compete more aggressively against Roku, which still has a 50% market share of global connected TV streaming hours with strong growth opportunities, according to an analyst note from Deutsche Bank in August. The new Fire TV Stick and Fire TV Stick...
U.S. stock futures see volatile moves following sell-off on Wall Street
Business news

U.S. stock futures see volatile moves following sell-off on Wall Street

Stock futures were flat early Thursday after a volatile overnight session with wild swings in and out of negative territory. The pause came in the wake of Wednesday's heavy losses that saw the S&P 500 tumble more than 2%. Futures contracts tied to the Dow Jones Industrial Average suggested a nearly flat open. S&P 500 futures and Nasdaq 100 futures were also little changed. The moves came in an uneven session. Earlier, futures opened Wednesday evening in the green, but comments from President Donald Trump that he would not commit to a peaceful transfer of power should he lose the election appeared to hit sentiment. Stocks continued their September swoon during regular trading hours on Wednesday, with all of the major averages registering steep losses. The Dow Jones Industrial A...
Stock futures little changed following sell-off on Wall Street
Business news

Stock futures little changed following sell-off on Wall Street

Stock futures fell during overnight trading, building on Wednesday's heavy losses that saw the S&P 500 tumble more than 2%. Futures contracts tied to the Dow Jones Industrial Average recovered from an earlier slip to rise by about 40 points. S&P 500 futures also traded in mildly positive territory. Nasdaq 100 futures, on the other hand, dipped slightly. The moves came in an uneven session. Earlier, futures opened Wednesday evening in the green, but comments from President Donald Trump that he would not commit to a peaceful transfer of power should he lose the election appeared to hit sentiment. Stocks continued their September swoon during regular trading hours on Wednesday, with all of the major averages registering steep losses. The Dow Jones Industrial Average closed ...
Fauci tells Congress the U.S. could have enough coronavirus vaccine doses for every American by April
Business news

Fauci tells Congress the U.S. could have enough coronavirus vaccine doses for every American by April

White House coronavirus advisor Dr. Anthony Fauci told Congress on Wednesday "it might take some time" for FDA-approved inoculations for Covid-19 to become available because of the "rigorous clinical testing required" to develop a safe and effective vaccine. Still, he added, there is "growing optimism" that scientists will find one or more safe and effective vaccines by the end of the year or early 2021 and the U.S. could have enough vaccine doses by April.  President Donald Trump has insisted that the U.S. could have a safe and effective vaccine by the end of October and have enough vaccine doses to inoculate every American by April. The president's comments have been at odds with his own health officials and have fueled concerns that politics, not science, ...