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Pentagon spends hundreds of millions of dollars in the fight against coronavirus

The Defense Logistics Agency, which manages the Pentagon's global supply chain, has executed 6,036 contract actions with $667.3 million in obligations for the coronavirus effort.




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United Airlines service workers' union sues over schedule cuts after carrier got federal aid

United fleet and passenger service workers are suing the airline over a planned cut to their hours, saying it violates their contract and the law providing billions in coronavirus aid from the government.




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This cruise stock may be a 'short-term opportunity' despite 80% drop, trader says

Norwegian Cruise Line Holdings' stock could see some near-term relief after plunging on the company's latest attempts to avoid bankruptcy, says analyst Matt Maley.




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United Airlines makes some worker schedule cuts voluntary after outcry, lawsuit from union

United is walking back some worker schedule cuts, making them voluntary, after a lawsuit from the employees' union




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Airbnb's future is uncertain as it continues to struggle through its Covid-19 response

Airbnb is one of the many businesses in the travel industry that has been hit hard by the coronavirus pandemic. In March of 2017, Airbnb was valued at $31 billion, but by the end of April 2020 that value dropped to $18 billion. With the threat of more cancelations as the pandemic halts travel, guests, hosts and investors alike are left asking what Airbnb will look like after the novel coronavirus, or whether the company will survive at all.




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Finally seeing some light at the end of the tunnel: European Travel Commission

Eduardo Santander, executive general of the European Travel Commission, shares his outlook for the European tourism industry amid the coronavirus crisis.




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Asia stocks little changed as data shows China's exports unexpectedly rose in April

Data showed China's exports rose 3.5% from a year ago, versus a 15.7% decline in a Reuters poll.




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San Francisco targets May 18 for some businesses to resume as California unveils reopening guidelines

Covid-19 has infected 3.7 million people globally, and killed at least 264,111 as of Thursday.




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Why you should create a 5-year money plan even when the future is uncertain

Studies have found that the pre-trip planning can be the most enjoyable part of a vacation. Applied to your finances, that could mean there is great joy to be had in planning out how you will buy a home one day, or how much you'll need to splurge on a bucket list trip.




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These 3 Etsy shop owners have each sold hundreds of cloth face masks since the pandemic started

These three Etsy shop owners share what it's been like to sell protective face masks during the coronavirus pandemic.




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'Shark Tank': Why Mark Cuban called these founders 'the American Dream team' and gave them a 6-figure deal

"You guys are the American Dream team," billionaire investor Mark Cuban said to the UnbuckleMe founders on Wednesday's episode of ABC's "Shark Tank." "You're exactly why people watch this show, because they want to have that idea, they want to come on and be on that carpet."




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Beware: Your coronavirus unemployment benefits will be taxed. How to avoid a huge hit

More than 22 million Americans who have lost jobs due to the coronavirus pandemic are currently collecting unemployment benefits. Most are unaware this is considered taxable income. Here are three ways to avoid a huge tax bill in 2021.




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What Gabrielle Union is eating during the pandemic: 'I just eat whatever brings me joy'

From cinnamon rolls to pies made with real butter, Gabrielle Union gave Katie Couric the rundown on what comfort foods she has turned to during the Covid-19 pandemic.




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How unemployment benefits are calculated under the coronavirus stimulus bill

More than 33 million Americans have applied for unemployment insurance over the last seven weeks. Here's a look at how their benefits will be calculated.




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Here's how unemployment benefits are calculated on a $40,000 salary

Over 30 million Americans lost their jobs in March and April of 2020. And with the economy on hold, securing another steady paycheck may take some time. That's where unemployment insurance benefits can help. The amount of money you get will largely be influenced by your home state. Check with your local labor board for exact details. Watch this video to see a case study of how unemployment benefits are calculated on a $40,000 salary.




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Elon Musk says coronavirus pandemic is 'practice run' for future viruses

Musk has been a vocal critic of how government and health officials are reacting to the coronavirus pandemic that's killed at least 73,431 people in the United States.




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Stocks making the biggest moves midday: Tesla, Facebook, Dunkin' Brands, Boeing, Moderna & more

Check out the companies making headlines in midday trading.




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ConocoPhillips CEO says 'we're on the lookout' for acquisitions as oil prices stay under $20

ConocoPhillip's Ryan Lance said on "Power Lunch" that his company is looking at potential acquisitions as the energy sector struggles with low oil prices.




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Bioplastics developer raises $133 million in new funding in quest to replace single-use plastics

RWDC Industries, which makes a sustainable material solution that can be used as a substitute for plastic, raised $133 million in Series B funding.




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Oil jumps on China export bounce but long-term outlook remains weak

Oil prices jumped on Thursday on news that China's exports unexpectedly rose last month, and on the back of U.S. output cuts and the slow return of some activity in Europe.




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Boston Marathon delayed until September due to coronavirus

The Boston Marathon has been postponed until September because of the coronavirus, according to an official statement from the Boston Athletic Association.




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NFL players union approves new agreement that includes pay increases and extra regular season game

The National Football League Players Association has approved terms of a new 10-year collective bargaining agreement with NFL team owners.




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Tom Brady announces he will leave the New England Patriots

The superstar quarterback did not say where he will go next.




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Tom Brady and the Bucs: Pundits expect clashes in playing style and a test of team culture

The Tom Brady to Tampa Bay Buccaneers deal has yet to be compete, but some NFL pundits see both pros and cons to the partnership.




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Media networks have paid billions for sports they won't receive this year — but the fighting for refunds hasn't started yet

Media networks have paid billions for live sports that they aren't going to broadcast this year. But nobody's pressing the issue yet, as the cable industry is focused on survival.




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AT&T president says consumer behavior will be fundamentally changed from coronavirus

"We're going to return to a different economic environment. We're going to return to different business models," AT&T President and COO John Stankey told CNBC.




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Instagram announces new features for small businesses including gift cards, food orders and fundraisers

Starting Wednesday in the U.S. and Canada, Instagram users can tap on a gift card or food order to make a purchase through a company's site. Fundraisers created by a business or its supporter open on Facebook.




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NBCUniversal's Peacock has a buffer against ad slowdown with launch partners — here's why they signed up

Peacock is soft-launching as streaming hours are up, but advertisers are pulling and decreasing spend.




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Online education company Coursera offers unemployed workers thousands of free courses

Unemployed workers are gaining free access to 3,800 courses created by elite universities and companies such as Amazon to learn skills and gain professional certificates for new job opportunities.




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Men's shirt retailer Untuckit taps real estate restructuring firm to renegotiate deals during coronavirus

The move by Untuckit comes as a number of retailers are looking to renegotiate deals with their landlords, or shut stores entirely, as the Covid-19 pandemic has forced doors temporarily shut to try to curb the spread of the virus.




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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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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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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.




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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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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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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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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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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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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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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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California Gov. Gavin Newsom unveils health guidelines for retailers and manufacturers to reopen starting Friday

California Gov. Gavin Newsom announced on Thursday a list of health guidelines that retailers, manufacturers and warehouses must adopt to begin offering curbside pick-up as early as Friday.




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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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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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Sorrento Therapeutics and Mount Sinai join forces to develop Covid-19 antibody shield

Sorrento Therapeutics and Mount Sinai Health System in New York City have joined forces to develop an antibody cocktail they hope will shield against Covid-19 infection for up to two months.




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Major sanctions on Russia are 'unlikely': INSEAD

Antonio Fatas, Professor of Economics at INSEAD, says it is unlikely that the West will impose hard-hitting economic sanctions upon Russia.




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A new 'Cold War' has begun as US-China tensions rise, says former White House official

A new Cold War is emerging from the ongoing U.S.-China geopolitical tensions, says Clete Willems, an Akin Gump partner and former White House official. He cites the "growing frustration" with China's economic policies and resistance to investigations for its alleged coronavirus involvements.




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World risks famines of 'biblical proportions' from pandemic, says UN

As many as 260 million people risk being on the brink of starvation as economies deteriorate and supply chains break down worldwide due to the coronavirus pandemic, says David Beasley, the United Nations World Food Programme's executive director.




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Latest round of US China trade tensions is 'more posturing than reality': Strategist

Phil Blancato, CEO of Ladenburg Thalmann Asset Management, says "no one wants more economic pain" in this current environment, adding that he would be surprised if the current US China trade tensions escalate.