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Innovative Methods Emerging Among Utilities to Ensure Resiliency During Disruptions

  • Llewellyn King, who helped shape President Richard Nixon’s energy policy, says utilities are ripe for innovative change in the wake of COVID-19
  • Prolonged power outages after Tropical Storm Isaias also highlight the need for improved resiliency
  • Improved communications, decentralized power generation, and more battery solutions among the potential changes
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Diminished Supply and Demand Cause Tighter Loan Market for Small Businesses

  • The Paycheck Protection Program gave out billions in loans to small businesses suffering from the effects of the COVID-19 pandemic, but other business loans are becoming scarcer
  • Less than one in four loans were approved in July, compared to pre-pandemic levels of around 50 percent
  • Banks are less willing to take on the risk of lending to businesses, while companies have also held off on investment plans
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Simon Property Group Reportedly Exploring Amazon Distribution Center Partnership

  • Partnership between Simon Property Group and Amazon would allow vacant “anchor” stores to be converted to Amazon distribution centers
  • Arrangement would guarantee steady rental income for malls while assisting with “last mile” delivery for the e-commerce giant
  • Simon reports stable second quarter income despite COVID-19 shutdowns
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Keeping Your Customers by Refusing Their Cash

  • Survey finds that a large share of small businesses have stopped accepting cash and transitioned to contactless payments during the COVID-19 pandemic
  • Younger customers are more likely to accept cashless transactions and favor companies that require no direct interaction for payment
  • Two-thirds of businesses try a new approach during the pandemic, primarily involving a pivot to digital
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“You Are Welcome” Campaign Encourages Continuation of Connecticut-R.I. Commerce

  • Campaign encourages Connecticut and Rhode Island residents to continue visiting each others states despite new COVID-19 restriction regarding Rhode Island
  • Recent travel advisory adds Rhode Island to list of states whose residents and visitors must quarantine for 14 days upon arrival in Connecticut
  • Restriction does not apply to visits of less than 24 hours
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Connecticut Power Outages May Send Some Workers Back to the Office

  • Widespread power outages following Tropical Storm Isaias impede employees’ ability to work from home
  • Employers look to cope with loss of services, including possibility of sending some workers back to the office while maintaining COVID-19 safety protocols
  • Situation highlights one limitation of remote work
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Thousands of Theaters Join Call to “Save Our Stages”

  • Live music venues call on fans to join call to “Support Our Stages” with bipartisan $10 billion relief bill
  • Theaters have been hard-hit due to show cancellations and a lack of viable revenue alternatives during COVID-19 pandemic
  • National Independent Venue Association estimates nine out of 10 theaters may close in the next couple of months if situation continues
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Unemployment Extension Hits Partisan Roadblock As Enhanced Benefits End

  • Democrats reject Republican proposal of short-term extension of enhanced unemployment benefits as insufficient as supplemental $600 a week expires tonight
  • Many states have already distributed their last enhanced unemployment checks
  • With several unemployment options on the table, congressional and White House leaders set to continue negotiations
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Fed’s Main Street Lending Program Extended Through End of Year

  • Federal Reserve lending facilities that were set to expire on Sept. 30 extended through Dec. 31
  • Extension occurs amid rising jobless claims and severe contraction of U.S. GDP in second quarter of 2020
  • Substantial five-year loans offered at low interest rates, but with several restrictions
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Connecticut Launches “One-Stop Shop” For Businesses

  • Digital portal consolidates information, resources, and requirements from several state agencies
  • Tools to assist with taxes, licensing, financial assistance, and more
  • Goal of helping simplify processes for business owners and entrepreneurs
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