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After Missing Deadline, OSHA Issues Emergency Temporary Standard on COVID-19 with Scope Limited to Health Care

  • Occupational Safety and Health Administration issues emergency temporary standard on COVID-19, but limits it to certain health care settings
  • General workplace guidance updated, including recommendations for industries where workers are considered to be at higher risk of contracting COVID-19
  • Standard comes nearly three months past deadline set by White House
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Shuttered Venue Operators Grants Rolling Out Slowly

  • The Shuttered Venue Operators Grant program has approved 90 awards as of Wednesday, while 4,661 applications are under review
  • A total of 14,020 applications have been submitted, requesting $11.4 billion
  • Current requests have come in below the funding allocated for the program, and the U.S. Small Business Administration continues to accept applications
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Federal Reserve’s Beige Book Shows Increased Retail Leasing, Steady Prices in New England

  • Federal Reserve’s Beige Book shows strong resurgence in restaurant sales in New England in the spring
  • Manufacturing sees moderate revenue increases despite supply chain constraints
  • Office leasing situation likely to remain uncertain until after Labor Day
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Connecticut Legislature Approves $3,200 “Baby Bonds,” Which Can Later Be Used for Startup Capital

  • Bonding bill approved by Connecticut General Assembly includes $3,200 “baby bonds” for children enrolled in the state’s Medicaid program
  • Funds can be used for purchasing a home, higher education, or starting a business when child reaches age 18
  • Bonds to be funded through $50 million set aside each year for 12 years
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Business News Roundup, June 10, 2021

Scrapped orders on Chinese-owned apps, a surge in retail spending, difficulties in breaking into the electric vehicle market, lower jobless claims, higher consumer prices, an approved Connecticut budget, and a special session on the issue of legalizing recreational marijuana in…

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Bill Approved by Connecticut General Assembly Looks to Bolster Child Care in State

  • Connecticut General Assembly approves bill creating broader child care access in the state
  • The measure eases the process of licensing a family child care home in certain cities and expands eligibility in Connecticut’s Care 4 Kids program
  • Previous proposals of a student loan forgiveness program and personal income tax credit for certain child care educators and providers were not included in the final bill
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White House Outlines Strategies to Address Supply Chain Disruptions

  • White House issues 250-page report detailing findings and recommendations after review of supply chain vulnerabilities
  • Semiconductors, large capacity batteries, critical minerals and materials, and pharmaceuticals get particular attention
  • Investments, financing priorities, trade agreement reviews, and other strategies for both the near-term and long-term
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Amid Economic Recovery, Businesses Replace Some Lost Jobs with Automation

  • COVID-19 pandemic and labor shortage accelerate employer adoption of automation
  • Artificial intelligence is still insufficient for many tasks, but employers have been using it for certain tasks to improve efficiency of human workforce
  • Roles primarily held by women with lower education levels are most at risk of being lost to automation
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Average Small Business Loan in 2020: $71,072

  • Analysis of small business lending data finds that the average loan in 2020 came to $71,072
  • Lending averages varied depending on the business, lender, and loan terms
  • Fixed rate loans had a lower average amount than variable rate loans
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Connecticut General Assembly Passes Measure to Restore Unemployment Insurance Trust Fund

  • Connecticut General Assembly unanimously passes agreement to restore state’s Unemployment Insurance Trust Fund
  • Governor Ned Lamont praises the measure and says he will sign it
  • Bill’s components include broadening the taxable wage base, reducing solvency and experience taxes, and several curtailments to benefits
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