Jobless and Faceless

Business News • What it takes to reopen a small business right now

2020-06-21T10:06:02-06:00

The New York Times - 6/21/2020 - Amy Haimerl - Tiffany Turner had dinner recently in a restaurant — the first time in nearly three months. She was greeted by employees in cotton face masks and seated at a table that was a socially distanced 6 feet from any other. Her return-to-society meal? Caesar salad, mussels and clam chowder. “The thing I was surprised by as a guest is that it was less awkward than I expected and more human energy than I expected,” Turner said. “People’s eyes are starting to tell a story more than they ever did.” Read more @ https://www.baltimoresun.com/coronaviru ... story.html

Statistics: Posted by McFurd — Sun Jun 21, 2020 10:06 am

Business News • Amazon And Goldman Sachs: A Small Business Lending Wake-Up Call For Banks

2020-06-15T20:31:09-06:00

Forbes - 6/15/2020 - Ron Shevlin - Amazon and Goldman Sachs announced a partnership to provide lines of credit up to $1 million to merchants selling on the Amazon platform. According to CNBC: Read more @ https://www.forbes.com/sites/ronshevlin ... b5cd237891

Statistics: Posted by McFurd — Mon Jun 15, 2020 8:31 pm

Business News • Who are the biggest holders of gold?

2020-06-04T19:48:32-06:00

Fox Business - 6/4/2020 - Gold has been used as a medium of exchange for thousands of years, and has more recently become the preferred store of value for the world’s biggest central banks. Central banks hoard the precious metal because of its liquidity, which helps reduce balance-sheet risk. Gold is believed to allow central banks to preserve capital while at the same time diversifying their portfolios. The precious metal can also be moved relatively easily from one location to another. Read more @ https://www.foxbusiness.com/markets/who ... rs-of-gold

Statistics: Posted by McFurd — Thu Jun 04, 2020 7:48 pm

Business News • AMC Theatres has 'substantial doubt' it can remain in business

2020-06-03T18:48:18-06:00

CNN Business - 6/3/2020 - Frank Pallotta - AMC Theatres, the world's biggest movie theater chain, said on Wednesday that it has "substantial doubt" it can remain in business after closing locations across the globe during the coronavirus pandemic.
The theater chain, which closed its theaters earlier this year, expects to have lost between $2.1 billion and $2.4 billion in the first quarter. Read more @ https://www.cnn.com/2020/06/03/media/am ... index.html

Statistics: Posted by McFurd — Wed Jun 03, 2020 6:48 pm

Business News • A Wave of Small Business Closures Is on the Way. Can Washington Stop It?

2020-05-21T19:42:22-06:00

The New York Times - 5/21/2020 - Neil Irwin - One of the great threats to the post-pandemic economy is becoming clear: Vast numbers of small and midsize businesses will close permanently during the crisis, causing millions of jobs to be lost. The federal government moved with uncharacteristic speed to help those businesses — enacting the Paycheck Protection Program, with $669 billion allocated so far. Read more @ https://www.nytimes.com/2020/05/21/upsh ... sures.html

Statistics: Posted by McFurd — Thu May 21, 2020 7:42 pm

Business News • Trump gets tough on Chinese stocks in coronavirus standoff with Beijing

2020-05-19T20:41:36-06:00

Fox Business - 5/19/2020 - Jonathan Garber -The Trump administration is exploring ways to crack down on fraud by Chinese companies listed on U.S. exchanges as tension increases between the two countries over the COVID-19 pandemic. Hundreds of Chinese firms not subject to the same investor protections as U.S. firms have listed on American stock exchanges over the past decade, resulting in billions of dollars of investor losses, administration officials say. Read more @ https://www.foxbusiness.com/markets/tru ... -stocks-us

Statistics: Posted by McFurd — Tue May 19, 2020 8:41 pm

Business News • Business Retail earnings, Fed Chair Powell testifies, FOMC minutes: What to know in the week ahead

2020-05-17T13:34:46-06:00

Yahoo Finance - 5/17/2020 - Heidi Chung - A deluge of retail earnings and the Federal Reserve will be in focus in the week ahead. Approximately 92% of the S&P 500’s (^GSPC) market cap reported first-quarter earnings, but 22 of 45 brick-and-mortar retailers have yet to release results this earnings season. “These names are projected to decline -41%, versus -9% for those that have already reported. This comparison is unfair, however, as 18 of these companies have an April quarter-end, which captures far more of the shelter-at-home period,” Credit Suisse strategist Jonathan Golub explained in an email Friday. Read more @ https://finance.yahoo.com/news/retail-e ... 31143.html

Statistics: Posted by McFurd — Sun May 17, 2020 1:34 pm

Business News • Wells Fargo faces federal probe over handling of small business loans

2020-05-06T19:26:46-06:00

Fox Business -5/6/2020 - Megan Henney - Wells Fargo disclosed this week that federal and state authorities are investigating its lending practices under a government-backed small business loan program designed to blunt the economic pain of the coronavirus pandemic. Read more @ https://www.foxbusiness.com/money/wells ... on-program

Statistics: Posted by McFurd — Wed May 06, 2020 7:26 pm

Business News • Small-business loan program ran out of money within minutes, some banks say

2020-04-21T19:17:13-06:00

NBC News - 4/18/2020 - Ben Popken and Stephanie Ruhle - Much of the $350 billion in the Small Business Administration's emergency coronavirus relief fund was effectively spoken for within the first minutes of launch, according to senior banking executives. "We didn't even get through the first five minutes of applications," a JPMorgan Chase senior banking executive said. Read more @ https://www.nbcnews.com/business/busine ... e-n1187051

Statistics: Posted by McFurd — Tue Apr 21, 2020 7:17 pm

Business News • Companies That Are Absolutely Not Small Businesses Are Getting Millions Of Dollars In Small Business Loans

2020-04-20T18:43:25-06:00

BuzzFeed News - 4/17/2020 - David Mack - A federal crisis fund of $350 billion established to keep small businesses afloat during the coronavirus pandemic ran out this week, leaving thousands of companies waiting desperately for help. But several giant companies with hundreds of stores, thousands of employees, and whose executives make millions announced they'd received the maximum possible payouts under the small business program. Read more @ https://www.buzzfeednews.com/article/da ... s-potbelly

Statistics: Posted by McFurd — Mon Apr 20, 2020 6:43 pm

Business News • 4 Ways to Turn Uncertainty into Strength for Your Business

2020-04-06T18:08:24-06:00

Entrepreneur - 4/6/2020 - Tonya Dalton - It’s a tough time for all of us. Beyond making my kitchen table my new “office,” I found out last week that my kids will continue homeschooling until at least May 15. We’re navigating uncharted waters both personally and professionally. But as someone who started her first business in 2008 — sitting at the aforementioned kitchen table with the same kids at home — I’d be remiss not to share the silver lining. Yes, it’s challenging, particularly as the global economy plunges, but surviving and growing as a business can be done. I’m here to prove that again. Read more @ https://www.entrepreneur.com/article/348509

Statistics: Posted by McFurd — Mon Apr 06, 2020 6:08 pm

Business News • Is your business essential? The commerce agency wants to help you figure that out

2020-03-26T20:00:56-06:00

VT Digger - 3/25/20202 - Anne Wallace Allen - As David Marvin, CEO of Butternut Mountain Farm, sees it, there’s no question that his maple syrup business in Morrisville is essential and should stay open through the COVID-19 pandemic. But the question is a lot less clear-cut for many other manufacturers in the wake of Gov. Phil Scott’s March 24 executive order, which directs that “all businesses and not-for-profit entities in the state shall suspend in-person business operations.” Read more @ https://vtdigger.org/2020/03/25/is-your ... -that-out/

Statistics: Posted by McFurd — Thu Mar 26, 2020 8:00 pm

Business News • Who’s an essential worker, what’s an essential business?

2020-03-24T19:51:47-06:00

The Day - 3/23/2020 - Taylor Hartz - As of 8 p.m. Monday all Connecticut workers not deemed "essential" were asked to stay home until at least April 22, according to an executive order signed by Gov. Ned Lamont. According to the state, dozens of jobs ranging from dog walkers to grocery store clerks are considered essential while small businesses will be allowed to remain open if they're run by only one employee. According to Executive Order 7H, all non-essential businesses and nonprofits were expected to have reduced their in-person workforces 100 percent by Monday night. Read more @ https://www.theday.com/local-news/20200 ... l-business

Statistics: Posted by McFurd — Tue Mar 24, 2020 7:51 pm

Business News • Small business owners go into survival mode as lawmakers debate economic relief

2020-03-20T04:29:34-06:00

NBC News - 3/19/2020 - Leticia Miranda - The coronavirus pandemic is pummeling restaurants and bars — but many other small businesses, from landscaping services to beauty salons to day care centers, are now also seeing dramatic falls in traffic as people hunker down. The threat of permanent closings and layoffs may have a lasting impact on local economies if these entities don't survive. Read more @ https://www.nbcnews.com/business/busine ... f-n1164226

Statistics: Posted by McFurd — Fri Mar 20, 2020 4:29 am

Business News • Companies Cut Travel as Coronavirus Spreads

2020-03-09T20:10:18-06:00

US News and World Report - 3/3/2020 - Andrew Soergel, Senior Writer, Economics - Twitter and Google have asked some international employees to work remotely to guard against the ongoing spread of the coronavirus, as a growing number of companies are deciding to empty offices, cancel business travel and curtail operations in areas where infection is prevalent. Read more @ https://www.usnews.com/news/economy/art ... oronavirus

Statistics: Posted by McFurd — Mon Mar 09, 2020 8:10 pm