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Doctors Call For Tighter Business Restrictions, But Lamont Says None Are Currently Planned

  • Governor Ned Lamont says there are no plans for further business restrictions despite a recent appeal from a group of doctors
  • A group of medical doctors has asked the governor to shut down indoor dining and gyms in order to prevent hospitals from being overwhelmed with COVID-19 cases
  • Connecticut remains in Phase 2.1 of its reopening, allowing businesses to operate at reduced capacity
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Powell Warns That Fed Lending Programs Remain Important as Economic Outlook Wavers

  • Before Senate, Federal Reserve Chairman Jerome Powell warns of continuing economic uncertainties
  • The Fed is at odds with the Treasury, which is allowing several lending facilities to expire at the end of the year
  • Treasury Secretary Steven Mnuchin blames local lockdowns for impeding economic growth and advocates for targeted relief
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Wind Farm Capable of Powering 1 Million Homes Goes Online Off Netherlands

  • Borssele 1 & 2 goes online off the Netherlands with 752-megawatt capacity
  • Danish wind farm developer Orsted says the site can provide enough clean electricity to power 1 million homes
  • Announcement comes on the heels of the EU’s commitment to a 25-fold increase in offshore wind power by 2050
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Heaters in Short Supply as Restaurants Scramble to Survive Winter

  • Heaters, fire pits, and other supplies see surge in demand as restaurants attempt to extend outdoor dining season
  • Months-long delay in orders means eateries that ordered late may not receive the heaters until nearly spring
  • Some restaurants are hoping for eased rules on outdoor dining to make the investment worthwhile
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Established Businesses Revert to Startup Strategies Amid Pandemic Conditions

  • With the COVID-19 pandemic disrupting the business climate, established companies are adopting startup strategies to survive
  • Entrepreneurs return to “fail fast” approach to test different ideas and quickly abandon them if they don’t prove successful
  • Updated strategies have also driven investments in e-commerce, equipment, and other areas
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Small Business Confidence Hits Low in CNBC Poll

  • Small business confidence hits all-time low in CNBC and SurveyMonkey poll
  • Drop in confidence affected partially by ongoing COVID-19 pandemic and lack of stimulus, but also by fears that a Joe Biden presidency will result in higher taxes and more regulations
  • Confidence falls sharply among Republican respondents, but increases among Democrats and Independents
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Record-Breaking Online Sales Expected to Continue on Cyber Monday

  • Cyber Monday expected to rake in a record-breaking $12.7 billion in sales
  • E-commerce has surged during the 2020 holiday shopping season as consumers remain wary of in-person shopping during the COVID-19 pandemic
  • Deals offered by retailers are more modest following exhortations for shoppers to buy early
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Harvard Business School Study Finds Employees Work Longer, Attend More Meetings During Pandemic

  • Study of more than 3 million employees from around the world finds that workdays have lengthened and meeting frequency has increased during the COVID-19 pandemic
  • While the number of meetings has gone up, overall meeting time has decreased
  • Managers encouraged to understanding differing employee situations during remote work
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Demand for CT Cares Small Business Grants Nearly Double the Amount of Available Funds

  • More than 18,000 applications submitted for the CT Cares Small Business Program
  • With a $50 million pool available to distribute $5,000 grants, demand is nearly double the available amount of funding
  • Businesses must meet a number of eligibility requirements to receive a grant
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Mask Mandates More Effective at Boosting Consumer Confidence When Issued at State Level Rather Than Local, Study Finds

  • University of Utah study associates mask mandates with both a decrease in COVID-19 cases and an increase in consumer confidence
  • However, county-level mandates are associated with a decrease in economic activity
  • Researchers suggest that local mandates give the impression that COVID-19 cases are worse in a particular area, causing more people to stay home
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