Poshmark Pops in Latest Big Market Debut
The online fashion reseller has benefited from a flood of demand as locked-down shoppers turn to e-commerce amid the coronavirus pandemic.
U.S. Budget Deficit Climbs to $572B in Q1
The increase in the deficit reflected in part spending on coronavirus relief programs including enhanced unemployment benefits.
CFOs of Middle Market Firms See Recovery in 2021
"For some companies, growth may mean a return to pre-pandemic financial performance, but most believe the deepest hardship is over."
U.S. Loses 140,000 Jobs Amid New Lockdowns
The December jobs report shows "the economy’s not just tapping on the brakes, but actually has been thrown into reverse."
World Bank Lowers 2021 Growth Forecast to 4%
There is a “material risk” that setbacks in containing the pandemic could result in a much weaker recovery, the bank warns.
CFO Optimism Continues to Grow Despite Virus
The fourth-quarter CFO Survey indicates that finance chiefs are "seeing over the cloud of the pandemic."
Peloton Bulks Up by Buying Precor for $420M
The deal will enable Peloton to add production capacity for its at-home fitness equipment amid increased demand fueled by the coronavirus pandemic.
Congress Includes PPP Extension in New Relief Bill
PPP borrowers will also be able to deduct expenses paid for with their loans, reversing an earlier IRS decision.
Fed Lifts Freeze on Bank Share Repurchases
The Fed voted 4-1 to ease restrictions on buybacks and dividends it had imposed to ensure banks preserved capital amid the coronavirus pandemic.
Coke to Cut 2,200 Jobs Amid Virus Slowdown
The company has been "trimming expenses and products amid the closures of restaurants, bars, movie theaters and sports stadiums that sell its drinks."
Retail Sales Fall 1.1% in Largest Pandemic Drop
“The economy will bounce back strongly in [Q2] as vaccine deployment reaches critical mass but until then it’s going to be a long, bleak winter."