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Business News Roundup, Dec. 10, 2021

An increase in inflation, the SEC looks to bolster regulations on SPACs, transformation of vacant office spaces, the pandemic's impact on retirement savings, and record sales tax revenues in Connecticut are among the top business news items this morning. National…

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Bipartisan Proposal Seeks Restoration of Employee Retention Tax Credit

  • Legislation introduced this week calls for the restoration of the Employee Retention Tax Credit, which was ended one quarter early under a major infrastructure bill
  • Supports say it helps support small businesses and allows them to avoid tax compliance headaches
  • One survey suggests the credit has seen only modest use from small businesses
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Can a More Unified Strategic Response Help Resolve Supply Chain Problems?

  • Businesses responding to supply chain bottlenecks can gain a competitive edge in the market
  • However, a collaborative approach may be necessary for more sustainable improvements to supply chains
  • A proposal for an independent third party to collect data and develop industry forecasts
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Connecticut Department of Consumer Protection Approves 90-Day Application Period on Cannabis Licenses

  • Connecticut Department of Consumer Protection approves request for 90-day application period on cannabis licenses in the state
  • Decision follows Social Equity Council approval on a requirements and criteria to qualify as a social equity applicant when establishing a cannabis business in Connecticut
  • Applications will become available 30 days after the Council issues its final approval
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As Retailers Ramp Up Hiring for the Holidays, OSHA Issues Reminders on Safe Practices

  • Occupational Safety and Health Administration offers resources of businesses bolstering their workforces for holiday shopping
  • National Retail Federation expects that retailers will add 500,000 seasonal workers this year
  • OSHA offers information on pay practices, COVID-19 safety precautions, and more
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Business News Roundup, Dec. 9, 2021

A Senate vote to scrap a COVID-19 vaccine mandate for larger employers, an executive order in pursuit of eliminating carbon emissions, a defense bill with several small business provisions, an expectation of significant wage hikes, falling initial jobless claims, and…

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Companies Turning to Retirees, Teenagers to Fill Jobs

  • Recent data shows that employers have been finding success filling open positions with teenagers and retirees
  • Both groups are finding advantages such as higher wages and a broader range of available positions
  • Tips for hiring either an older or a younger worker
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Gallup: In-Office Work Days Will Fall by 37 Percent After Pandemic

  • Gallup analysis projects that in-office work days will shrink by 37 percent compared to 2019 once current conditions stabilize
  • Estimate is based on surveys of remote workers, the majority of whom want to continue working from home at least some of the time
  • Employers will need to find the right balance between encouraging interpersonal interactions and accommodating the greater demand for remote work flexibility
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U.S. Job Openings Increase to 11 Million in October

  • Job openings in the United States increase to 11 million in October
  • Hiring holds steady while separations decrease, including a drop in quits
  • The largest boost to hiring occurred in educational positions, while the largest drop in separations occurred in transportation, utilities, and warehousing
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Business News Roundup, Dec. 8, 2021

A preliminary injunction against a COVID-19 vaccine mandate, a deal on the debt ceiling, a surge in Connecticut's COVID-19 test positivity rate, key criteria for Connecticut recreational cannabis businesses, and the impending retirement of Connecticut's chief manufacturing officer are among…

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