Kenya’s Eliud Kipchoge runs during his attempt to bust the mythical two-hour barrier for the marathon on October 12 2019 in Vienna. Eliud Kipchoge captured the imagination and admiration of millions when he broke the mythical two-hour barrier for the marathon distance in Vienna last October. During the race he was wearing the Nike “Alphafly” shoe — a prototype of the “Alphafly NEXT%” that Nike said last week will be sold to the public and legally eligible for official races. The new version is s

Here are four charts that show how SARS affected the Chinese economy 17 years ago. But various estimates showed that China’s annual growth in 2003 could have been 0.5 to 1 percentage points higher without disruptions from SARS. Fall in retail sales growthThe retail sector in China was among the worst hit by the SARS epidemic. The drag on China’s industrial production from the new coronavirus could be more severe, some analysts said. Steady trade volumeGrowth in China’s imports moderated followin

Qilai Shen | Bloomberg | Getty ImagesChina’s smartphone shipments for the three months ending in March could decline by more than 30% from the same period a year ago, International Data Corporation said on Tuesday. China smartphone shipments to drop more than 30%”The coronavirus outbreak impacted the Lunar New Year’s shopping season in late January and is also expected to have adverse effects in the following months,” IDC said in a statement, adding that it expects “China’s smartphone shipments

Seats in a theater display the Imax Corp. logo at a cinema in Beijing, China, on Thursday, Aug. 18, 2011. Seven films pulled their planned releases for the period, and now, most theaters have been closed for about two weeks. He noted that the new virus primarily affects food and beverage businesses, while movie theaters will see an immediate loss in fees. Pummeled instead of a windfallThe Lunar New Year box office accounted for about 9% of last year’s overall sales of 63.6 billion yuan ($9 billi

U.S. stock index futures are pointing to a higher open on Wall Street Tuesday as stocks look to continue Monday’s rally. ET, Dow futures were up 57 points and indicated an implied positive open of more than 70 points, while futures on the S&P 500 and Nasdaq were also higher. However, fears over the economic fallout from the outbreak have been offset by positive economic indicators. Both the S&P 500 and Nasdaq Composite closed at fresh record highs on Monday, while the Dow Jones Industrial Averag

— Kam4:02 pm: No new confirmed cases of foreigners with coronavirus in ChinaNo additional cases of foreign nationals infected with the new coronavirus have emerged in the last day, Ministry of Foreign Affairs spokesman, Geng Shuang, said at a daily press conference on Tuesday. Most of the reported confirmed cases of infection were from the same province. It slashed underlying net profit for the year from 290 million – 300 million Australian dollars (about $194 million-200 million) to A$270 milli

Stocks in Australia traded higher in early trade as investors continue to weight the economic impact of the ongoing coronavirus outbreak which has already taken more than 1,000 lives. The S&P/ASX 200 traded more than 0.5% higher in early trade as most sectors saw gains. Markets in Japan are closed on Tuesday for a holiday. Investors will continue to watch for developments on the ongoing coronavirus outbreak, where uncertainty remains over when work can resume at factories in China. “The risk of

The White House on Monday rolled out a proposed $4.8 trillion budget that earmarked $1 billion toward increasing affordable child care options for American families. But amid the cuts, the Trump administration included a one-time, $1 billion investment to build out a more robust supply of child care options, including programs sponsored by employers. Spending $1 billion on child care may sound like a lot, but it’s only about a 4.5% increase in federal funding. His 2020 budget earmarked $1 billio

A U.S. judge on Monday rejected a request by Uber and courier services provider Postmates to block a California labor law from taking effect, saying the bill’s public benefits outweighed the companies’ concerns. The 24-page decision is a blow to the employers of the so-called gig economy which had hoped to stop a bill that will make it harder for them to classify their workers as independent contractors rather than employees. Gee did not rule on the merits of the case and her decision does not s

MonzoTom Blomfield doesn’t think big banks will ever undergo a digital transformation. The British fintech entrepreneur says banking behemoths like Barclays and HSBC are saddled with outdated technology and a risk-averse culture to respond to the challenge that upstarts like his digital bank, Monzo, present. “The banks really focus very hard on their existing set of financial products,” Blomfield, co-founder and CEO of Monzo, said in an interview. RBS for example recently introduced a standalone

Google human resources chief Eileen Naughton is stepping down from her role amid growing tensions between employees and management. Naughton, who has held various roles at the company since 2006, has led the company’s human resources department as the vice president of people operations since 2016. In November 2019, the company fired four employees who allegedly shared internal information. CNBC recently reported that in 2019, the company rolled out an overhaul to how its human resources departm

The outbreak of the coronavirus is a “true black swan” for the oil and energy market, and as crude prices continue to move lower the worst may not be over yet, Ned David Research said in a note to clients Monday. Analyst Warren Pies noted that the outbreak has reduced Chinese demand for oil by 2 million to 3 million barrels per day, which means “the oil market is looking down the barrel at no demand growth for the calendar year, and outright demand contraction is now on the table.” At the end of

Democratic presidential contender Pete Buttigieg is seeing increased support from business leaders as he jumps in the polls following a successful showing in the Iowa caucuses. In the wake of Buttigieg’s success in Iowa, the campaign announced it raised more than $2.7 million and attracted more than 22,000 new donors. The Iowa Democratic Party allocated the most delegates to Buttigieg in the wake of their caucus debacle last week. Through conversations with Buttigieg’s campaign and his allies, i

The company reported a fourth-quarter profit of 35 cents a share, while analysts expected earnings of 29 cents per share, according to Refinitiv. Slack – The instant messaging app’s stock dropped 8% in extended trading after the company filed an 8-K Monday downplaying a news report that sent its stock surging more than 15%. Moderna – Shares of the biotechnology company fell more than 6% in extended trading after the company announced a proposed $500 million public offering of common stock. The c

Tesla shares initially popped more than 9.5% earlier in the session before receding. Market commentators, still baffled by Tesla’s recent moves, largely saw the action as part of a broader trend higher for the surging stock. I can’t imagine owning the stock right now just because what do you [do]? They have better battery technology right now, better battery pack technology, all the way up to the way that they control the battery pack, and it’s a significant lead. … Tesla has reached scale in a

President Trump speaks during an event at the White House in Washington, D.C., on Thursday, Feb. 6, 2020. Most recently, electric vehicle startup Lordstown Motors, which purchased GM’s shuttered Lordstown Assembly plant in Ohio, was in discussion with government leaders about a loan from the Advanced Technology Vehicles Manufacturing Loan Program. Lordstown Motors, in an emailed statement on Monday to CNBC, said it had not yet applied for the loan. A spokesperson for the federal program, which a

The Department of Transportation’s watchdog on Monday said it will review federal pilot training requirements, a move that comes after two fatal crashes of Boeing’s 737 Max raised questions about increasing automation in aircraft. “These fatal accidents have drawn widespread attention to FAA’s oversight and certification practices, including the Agency’s process for establishing pilot training requirements for the aircraft,” the department’s Office of Inspector General said in a statement. The o

The leader of the United States Space Force on Monday confirmed reports that a pair of Russian spacecraft have come very close to a U.S. spy satellite, saying that foreign satellites are showing “unusual and disturbing behavior.” “Last November the Russian government launched a satellite that subsequently released a second satellite. But, two weeks after launch, the Russian satellite split into two different objects. By the middle of January, Kosmos 2542 and Kosmos 2543 had moved in orbit and we

Former advisor to U.S. President Donald Trump, Roger Stone, leaves the E. Barrett Prettyman United States Courthouse after being found guilty of obstructing a congressional investigation into Russia’s interference in the 2016 election on November 15, 2019 in Washington, DC. Federal prosecutors told a judge Monday that Roger Stone, an ally of President Donald Trump and longtime Republican political operative, deserves a criminal sentence in the range of 7-1/4 to 9 years in prison, according to a

Chief executives of companies in the S&P 500 combined to spend at least $2 million on political causes in the fourth quarter of 2019, helping both Democrats and Republicans, according to a CNBC analysis of data provided by the Center for Responsive Politics. The two biggest contributors, Berkshire Hathaway’s Warren Buffett and Netflix’s Reed Hastings, gave to groups looking to elect Democrats in Congress this year. Buffett contributed just more than $245,000 to the Democratic Congressional Campa