skip to Main Content

Connecticut SBA Announces National Small Business Week Winners

  • Connecticut District Office of the U.S. Small Business Administration highlights outstanding small businesses in the state
  • Matthew Beaudoin of Mystic Knotwork wins Small Business Person of the Year
  • Nine other businesses also recognized
Read more

Fed Updates Main Street Underwriting Guidelines in Effort to Reassure Lenders

  • Federal Reserve updates its FAQs to offer more guidance to lenders participating in the Main Street Lending Program
  • Only about $2 billion of the $600 billion available has been issued as lenders show reticence to take on risk
  • Update also issues guidance on loans issued to multiple co-borrowers
Read more

Yelp Analysis Says Nearly 100,000 U.S. Businesses Have Closed Permanently During COVID-19 Pandemic

  • Sixty percent of the businesses that have closed since the beginning of pandemic have shuttered permanently, according to review of Yelp data
  • Restaurants and retail have struggled the most, with professional services and solo proprietors least likely to be affected
  • Closure rates have been higher in areas that are more dependent on tourism or with higher rents
Read more

Trump Administration to Ban U.S. Downloads of TikTok, WeChat Beginning Sunday

  • Commerce Department announces that downloads of TikTok and WeChat apps will be barred in the United States starting Sunday
  • Trump Administration has said the Chinese-owned apps raise cybersecurity concerns, and has pressured TikTok owner ByteDance to sell U.S. operations to an American company
  • TikTok spokeswoman criticizes the decision as harmful to people and businesses who use the app
Read more

Finance Sector Grapples With COVID-19 Cases Among Traders While Attempting Return to Office

  • Barclays, Goldman Sachs, and JPMorgan Chase send some in-office traders home after employees test positive for COVID-19
  • Cases emerge as banks make efforts to bring more employees back to the office this month
  • Finance industry has taken a mixed approach to remote work, with some banks allowing employees to continue working from home until next year
Read more

Investors Anticipate Market Volatility After Election Day, But Only in the Short Term

  • Nearly all investors in a recent Hartford Funds poll said they expect the U.S. presidential race to affect the stock market, though the impact is likely to be short-term
  • Investors more likely to plan changes after results of the election than before
  • Another survey highlights fears that an uncertain election result could pose a risk to the market
Read more

New London Looking to Develop Pop-Up Shop Program to Spur Downtown Business

  • City officials discussing possibility of short-term leases with building owners to help fill empty storefronts in downtown New London
  • Public-private partnership would have goal of supporting new ventures and improving foot traffic at existing venues
  • Similar program in 2014 resulted in some successful ventures, although they later moved out of downtown
Read more

Bipartisan House Group Proposes $1.5 Trillion COVID-19 Relief Bill

  • Shortly after failure of “skinny” $500 billion relief legislation put forward by Republicans in Senate, a bipartisan House group offers a $1.5 trillion bill
  • Proposal includes renewal of Paycheck Protection Program, enhanced unemployment benefits, stimulus checks, and funds for state and local governments
  • Measure reflects frustration among more moderate members as partisan stalemate inhibits likelihood that new relief will be approved before Election Day
Read more

Researcher Envisions “Smart LIDAR” to Improve Wind Farm Efficiency and Siting

  • Professor David Schlipf of the Wind Energy Institute suggests that “smart LIDAR” systems can be used to allow turbines within a wind farm to communicate with one another and capitalize on prevailing winds
  • Systems could also be used to allow engineers to determine if turbines are suitable for wind conditions at various sites
  • Schlipf previously demonstrated how predictive LIDAR can be used to protect wind turbines from potentially damaging winds
Read more

TikTok Establishes Partnership with Oracle for U.S. Operations

  • TikTok and Oracle form business partnership for the popular video-sharing app’s operations in the United States
  • The arrangement seeks to strike a compromise on the White House demand that TikTok be sold or be shut down in the U.S. due to security concerns
  • Partnership brings on Oracle as a “trusted technology partner” to handle user data
Read more