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- Positive news on an antiviral treatment to combat COVID-19 helped offset investor concerns about the rising tally of virus cases in the United States
- Nasdaq continues record closing streak while S&P 500 and Dow underperform
- Reopening plans stall in several states on higher coronavirus case counts
- Joe Biden is proposing sweeping new uses of the federal government’s regulatory and spending power to bolster U.S. manufacturing and technology firms.
- Plan calls for $700 billion investment in American goods and services as well as R&D at tech firms
- Biden has previously pledged other policies such as raising the minimum wage and strengthening collective bargaining
- More than 1.3 million Americans applied for unemployment benefits last week
- Resurgence in COVID-19 cases forces reversal or pause of reopening plans in several states
- Companies warn of potential need for further layoffs as economy regains only about one-third of jobs lost in March and April
- FlexJobs identified the best 25 freelance side jobs for working professionals who may be struggling during the COVID-19 pandemic
- The gig economy was booming even before the pandemic, with nearly one-third of workers finding supplemental sources of income
- Side gigs can lead to more flexible work or opportunities for full-time work
- LendingTree analyzed survey data from the U.S. Census Bureau to see which cities have felt the least impact on their businesses due to COVID-19
- Cities in Kentucky, Virginia, and Arizona top the list
- Recent reopening and local grants help ease the burden
- Opposition from environmentalists and landowners has been increasingly successful in blocking pipeline projects in court
- Pipeline developers face added costs, challenges in winning community support
- Investors may prefer expansion of existing infrastructure in future energy projects
- State economic agencies turn focus to supporting existing businesses impacted by COVID-19 pandemic
- Loan programs and other relief supplement federal efforts to minimize business closings and layoffs
- Push for onshoring set to renew competition among states for emerging jobs
- Mixed effects in roundup of COVID-19 business news
- Real estate stays robust during pandemic, with a boost in home buying
- Hotels optimistic for resumption in business, while cruise line web traffic falls sharply
- State and local leaders announce the launch of the loan program for eligible businesses in Ansonia, Derby and New Haven
- Qualifying businesses must be owned by women or minorities and employ 20 or fewer people
- Loans of up to $25,000 available
- Paycheck Protection Program (PPP) loan deadline extended to Aug. 8
- $130 billion remains available to applicants after expiration of previous deadline
- On July 4, President Donald Trump extended the deadline for PPP loan applications for more than another month
- Loans can be completely forgiven if spent within certain timeframe on approved expenses
