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Connecticut Businesses Have Until June to File for EIDL Loans for 2020 Drought

  • Eligible Connecticut businesses can apply for Economic Injury Disaster Loans related to a drought that affected the state last fall
  • Loans can be used to pay expenses that would have been met if not for the drought
  • Businesses can borrow up to $2 million
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Business News Roundup, May 18, 2021

Positive labor indicators, negotiations on steel and aluminum tariffs, a plunge in home construction, and a new UConn MBA offering are among the top business news items this morning. National Despite a jobs report that came in well below expectations…

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Lamont Announces “Back to Work CT” Program, Updated Mask Protocols

  • Governor Ned Lamont announced that Connecticut will debut an program to give a $1,000 bonus to 10,000 long-term unemployed individuals to encourage them to return to work
  • With businesses struggling to fill available job openings, some are saying enhanced unemployment benefits are providing a disincentive for people to return to work
  • Lamont also introduces updated mask rules, including ability of businesses to continue requiring universal masking
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WHO Research Links Long Working Hours to Deaths From Heart Disease, Stroke

  • Report from the World Health Organization and International Labour Organization say work weeks of 55 hours or more are associated with elevated health risks
  • Ischemic heart disease and stroke more likely to affect employees working long hours
  • Organizations warn that COVID-19 is further increasing health risks by placing additional burdens on workers
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Connecticut Businesses Urged to Proceed Cautiously When Restrictions Are Lifted Wednesday

  • Attorneys speaking at a CBIA webinar say businesses should proceed cautiously as Connecticut moves toward full reopening on Wednesday
  • State will lift remaining business restrictions as well as an indoor mask mandate for fully vaccinated individuals
  • Businesses are tasked with setting their own policies for employees and customers
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Federal Reserve Issues Third Extension of Rule to Bolster PPP

  • Federal Reserve issues its third extension of a rule designed to bolster the Paycheck Protection Program
  • Rule continues a modification of rules allowing certain bank directors and shareholders to access loans for their own businesses
  • PPP funding is largely depleted, although some money is still available for loans made through community financial institutions
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Business News Roundup, May 17, 2021

A counterproposal deadline for the White House's infrastructure package, a Mississippi River bridge shutdown further strains supply chains, child tax credits roll out this summer, staff retraining amid labor shortages, a boom in mergers and acquisitions, a slow return to…

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Connecticut Legislature Approves Long Island Sound “Blue Plan”

  • Connecticut General Assembly unanimously approves Long Island Sound Blue Plan
  • Initiative provides an inventory and resources to guide decisions involving waters and submerged lands governed by Connecticut
  • Intent is to balance ecological protections with human uses of the Sound
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Businesses Pursuing Inclusive Policies Can Still Be Reluctant to Assign Important Tasks to Diverse Hires, Research Finds

  • Harvard professor looks at a midsize consulting company’s assessment of its company culture after noticing a high turnover rate among diverse hires
  • Partners often fell back on assigning important clients and tasks to White male workers
  • Creating a developmental rather than an assessment culture
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Board Members Call for Support of $470 Million Investment in Connecticut Nonprofits

  • More than 250 board members sign letter of support for plan to fund Connecticut nonprofits with $470 million over seven years
  • Funding would support human services nonprofits that contract with the state
  • Letter argues that the funding is necessary due to financing shortfalls and the COVID-19 pandemic
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