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Key Words: Trump vs. Fauci: The president says, ‘He was wrong’; the doctor responds, ‘Everybody thinks I’m doing more than an outstanding…

The war of words between the Trump administration and Anthony Fauci, one of the leading experts on pandemics in the U.S. for the last four decades, continues. Appearing on “Fox News Sunday” with Chris Wallace, President Trump said there was no campaign to discredit Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases for three decades. Wallace asked Trump about a Facebook FB, +0.45% post by Daniel Scavino, White House deputy chief of staff for communications,…

Associated Press: No end in sight, Congress confronts new virus crisis rescue

It stands as the biggest economic rescue in U.S. history, the $2.2 trillion coronavirus relief bill swiftly approved by Congress in the spring. And it’s painfully clear now, as the pandemic worsens, it was only the start. With COVID-19 cases hitting alarming new highs and the death roll rising across the U.S, the pandemic’s devastating cycle is happening all over again, leaving Congress little choice but to engineer another costly rescue. Businesses are shutting down, schools cannot fully reopen and jobs are…

A ‘value-creating’ event approaches for this education stock and its friendly activist investor

Company: Pearson PLC (PSO)Business: Pearson delivers learning through providing a range of educational products and services to institutions, governments, professional bodies and individual learners. The company operates through three segments, which include North America, core and growth. The company's North America segment includes assessments and services businesses in the United States and Canada. The company's core segment includes assessments and services businesses in more mature markets including the United Kingdom,…

These business owners got a PPP loan. It may not be enough

Robert Miller, a Pittsburgh area restaurateur, has watched with sadness as some of his favorite local eateries closed for good in recent weeks.Union Standard, Pizza Taglio, Spoon — just a handful of the businesses lost in the age of the coronavirus pandemic."They're all places people would know by name," Miller said.Miller, 45, expects his restaurants would have been among the wreckage if it weren't for aid received as part of federal coronavirus relief.His three establishments — Sidelines Bar and Grill, Sidelines…

Coronavirus cold comfort: the top 1% lost more wealth in Q1 than the rest of us

Anecdotes, studies, and surveys tell a grim story about the coronavirus pandemic: it’s disproportionately hurting the least well-off in America, and it may deepen income inequality. That’s in large part because white-collar workers are more likely to be able to work from home, while lower-paid service workers like delivery couriers, transportation workers, retail clerks, and so on, have to be physically on the job. And that’s assuming there are jobs to be had: the most drastic job losses have come in industries like…

The market is at a crossroads with surging coronavirus cases and the election looming, Ally Invest strategist says

One of Wall Street's top strategists is reining in her summer rally forecast.Ally Invest's Lindsey Bell cites the spike in coronavirus cases across the country as the main catalyst behind her decision."In the last couple of weeks, especially the last seven days, you've see a significant jump in virus cases," the firm's chief investment strategist told CNBC's "Trading Nation" on Thursday. "You're also starting to hear about a slowing and a reversal of reopening plans we didn't have before Monday."Besides places such as…

China’s banks brace for more bad loans as coronavirus-hit economy slows

The skyline of the Lujiazui financial district in Shanghai, China.Hector Retamal | AFP | Getty ImagesChinese banks have so far emerged relatively unscathed as the coronavirus pandemic hit economies around the world — but that could change in the coming months. Rising bad loans are set to squeeze margins and reduce profits, said analysts.China's financial regulator warned over the weekend that commercial banks could experience a big jump in bad loans as the world's second-largest economy slows down.The…

Stocks making the biggest moves in the premarket: Netflix, BlackRock, Microsoft, Lyft & more

Take a look at some of the biggest movers in the premarket:Netflix (NFLX) – The video streaming service saw its bottom line fall 22 cents a share below Wall Street forecasts with quarterly profit of $1.59 per share. Revenue and subscriber additions were above estimates. Projected subscriber additions for the current quarter of 2.5 million are well below the consensus estimate of 5.27 million.BlackRock (BLK) – The asset management firm reported quarterly profit of $7.85 per share, beating the consensus estimate of $6.99 a…

TaxWatch: ‘We’re focused on the paper returns’: As the IRS reopens offices — how long will it take to receive your tax refund?

As tax season winds down, the Internal Revenue Service is gearing up its operations. The federal tax collector’s plans and procedures have been upended this year, like countless other government agencies and companies contending with the coronavirus pandemic. The IRS temporarily closed offices in March due to the COVID-19 public-health emergency and the filing deadline was pushed from April 15 to July 15. On top of that, lawmakers tasked the agency with distributing millions of stimulus checks, beginning in…

UK digital bank Monzo relaunches premium accounts after original service flopped

Users of Monzo's premium account, Monzo Plus, will get sent blue cards with holographic foil to makeMonzoBritish financial technology start-up Monzo is giving paid-for checking accounts another go, with a revamped premium service it hopes will help generate a new source of revenue.Monzo, which provides banking services through an app, initially tried to launch a premium offering last year. Dubbed Monzo Plus, the packaged account was eventually scrapped by the firm due to complaints from customers.It has relaunched Monzo Plus…