The Senate is nearing passage of a roughly $2 trillion economic support bill responding to the coronavirus outbreak that includes direct payments to most Americans, as well as hundreds of billions of dollars for small businesses and industries affected by the pandemic.
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The raging coronavirus pandemic is first and foremost a global public health crisis. But as countries shut down their entire economic systems in response, business owners, workers and economists are all beginning to fret that the world is poised on the brink of a financial crisis.
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With the Covid-19 pandemic’s first wave of economic pain washing over the stock markets and flooding Wall Street with uncertainty, small business owners are worried the next tsunami is headed toward Main Street.
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Senate Democrats on Monday again blocked a massive stimulus package responding to the coronavirus outbreak, though Senate Minority Leader Chuck Schumer held out hope for a deal by the end of the day.
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Dusty George peeks out the window of GWARbar in the downtown area of Virginia’s capital city. The general manager of the restaurant named after the infamous, Richmond-based metal band, his establishment is among the thousands of local bars and restaurants around the country facing new challenges as the coronavirus spreads.
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As Congress begins work on a sweeping stimulus package to respond to the coronavirus pandemic, Senate Republicans on Wednesday unveiled plans for a $300 billion economic relief package to help small businesses struggling amid the outbreak.
Read moreA former delegate for the Virginia General Assembly pleaded guilty in federal court Tuesday to defrauding the federal government out of over $80 million in bogus contracts.
Read moreStarwood Consulting aka Corporate Compliance Services threatens to fine small businesses up to $17,000 if they don’t shell out $84 for labor-law posters provided free by the government, the FTC claims in a federal complaint.
Read moreStreet vendors asked the city of Los Angeles Monday to quickly pass a law that would legalize their industry, while brick-and-mortar businesses called for strict oversight of vendors who create public safety issues near their properties.
Read moreThe Massachusetts attorney general filed the nation’s first state-initiated lawsuit Tuesday against Equifax for the data breach that compromised the personal information of more than 143 million Americans, including 3 million Massachusettsans. On Wednesday meanwhile a group of small business owners brought their own federal class action in Atlanta, saying the high cost they pay for credit reports makes dealing with the breach a “double whammy.”
Read moreThe Fourth Circuit revived a lawsuit filed by a black-owned television ad agency that claimed a North Carolina city refused to consider it for an economic development loan unless it agreed to conditions not placed on white-owned businesses.
Read moreThe European Commission on Thursday backed a plan to unlock nearly $460 million in financing for 2,000 small and medium-sized Greek businesses to expand their operations and create more jobs.
Read morePresident Donald Trump on Monday signed an executive order aimed at slashing federal regulations on small businesses.
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