Wall Street bonuses set to fall by as much as 30% in 2020: report

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FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri

NEW YORK (Reuters) – Wall Street bonuses for 2020 could fall by as much as 25%-30% due to the deep cuts to revenues recorded by banks and hedge funds earlier this year as a result of the novel coronavirus, according to a report published Wednesday by compensation consulting firm Johnson Associates Inc.

While most compensation is expected to be down, 2020 is likely to be a year with “wide,

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US must manage coronavirus medical shortages without nationalism

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Nurse Hannah Sutherland adjusts her personal protective equipment (PPE) while awaiting new patients at a drive-thru coronavirus testing station at Cummings Park on March 23, 2020 in Stamford, Connecticut.

John Moore | Getty Images

The instinct to stockpile — be it milk, eggs, bread, toilet paper, or hand sanitizer — is as ancient as humanity itself. Having essentials on-hand is invaluable in an emergency. It’s why as a young CIA officer stationed in Africa decades ago, I ordered dry goods in bulk and filled a freezer with impala and warthog meat. That instinct has served us well, but the reemergence

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Consumer behavior will forever be changed by shelter-in-place

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CNBC’s Jim Cramer on Thursday said the stay-at-home economy will be brief, but its effect on society will be eternal.

“The shelter-in-place economy is temporary,” he said on “Mad Money.” “But, at the same time, I’m betting this period will have a lasting impact on consumer behavior.”

The impact can be felt in the way people experience shopping and fun, even as each state has begun efforts to restart their respective economies after two months of economic turmoil caused by the coronavirus pandemic, Cramer said..

“Just remember, even as we reopen for business, the new normal is not the old

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New York Gov. Andrew Cuomo holds press conference on the coronavirus

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New York Gov. Andrew Cuomo is scheduled to hold a briefing Monday to update the public on the coronavirus outbreak as the state moves forward with reopening efforts.

Earlier this month, Cuomo announced that gyms across the state would be allowed to reopen as soon as Monday, Aug. 24, with some coronavirus safety precautions. Also on Monday, museums, aquariums and other cultural centers in New York City are allowed to reopen with modifications. Bowling alleys

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