Economics News

Economics

Trump Victory Aligns with Bitcoin's First-Ever Rise Above $80,000 USD

On November 10, following Donald Trump's victory in the U.S. presidential election, Bitcoin ($BTC) achieved a historic milestone, surpassing $80,000 USD for the first time.
Economics

Biden-Harris Administration sees record-breaking surge in new business applications

President Joe Biden and SBA Administrator Isabel Casillas Guzman announced that over 20 million business applications have been filed during the Biden-Harris Administration.

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Economics

SBA urges support for local businesses on Small Business Saturday

The U.S. Small Business Administration (SBA) is urging Americans to support local small businesses on Small Business Saturday, an event founded by American Express that celebrates its 15th anniversary in 2024.

Economics

SBA hosts annual summit to boost innovation through collaboration

The U.S. Small Business Administration (SBA) will host the 2024 Innovation Ecosystem Summit on November 14 and 15.

Economics

SBA's surety bond program achieves record success in fiscal year 2024

The U.S. Small Business Administration (SBA) has reported a significant achievement for its Surety Bond Guarantee (SBG) Program, marking its most successful year in 25 years during fiscal year 2024.

Economics

SBA announces record certifications; unveils streamlined process for FY25

Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) announced a record number of federal contracting certifications for fiscal year 2024.

Economics

SBA highlights progress in supporting native small businesses during heritage month

Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) marked the beginning of Native American Heritage Month by emphasizing the significant progress made in supporting Native small business owners nationwide.

Economics

Amazon VP: 'Our front-line team will be getting at least an additional $1.50 per hour starting this month'

Amazon is investing $2.2 billion to boost hourly wages and benefits for U.S. employees, raising the average base wage to over $22 per hour. Udit Madan, Amazon's vice president of worldwide operations, noted that Amazon conducts annual reviews of wages and benefits to keep them competitive within the industry.

Economics

SBA announces National Veterans Small Business Week events across U.S

Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) announced the celebration of National Veterans Small Business Week (NVSBW), scheduled for November 11-15.

Economics

Amazon VP: Average full-time employees wll receive 'a raise of more than $3,000 a year'

Amazon has announced a $2.2 billion investment to increase wages and expand benefits for its hourly employees across the U.S., including those in the Northern Kentucky area.

Economics

Trump election victory could increase Bitcoin value, says new analysis

An analysis by Polymarket charting Bitcoin’s ($BTC) price against former President Donald Trump’s election odds announced a potential surge in Bitcoin’s value in the event of a Trump victory.

Economics

Former Starbucks manager: 'The culture of quality, consistency, and customer focus doesn’t exist anymore'

Starbucks Corp. faces growing challenges following a recent stock downgrade, as analysts question the company's ability to navigate ongoing legal battles and operational pressures. The downgrade comes amid recent leadership changes and heightened scrutiny from activist investors, all of which cast uncertainty on Starbucks’ short-term recovery.

Economics

Amazon VP: Company to invest 'more than $2.2 billion across our network for hourly front-line employees'

Amazon has announced a $2.2 billion investment to increase wages and expand benefits for hourly employees across its U.S. fulfillment and transportation network, significantly impacting the thousands of workers in the Chicago area.

Economics

Coalition of businesses: TPLF 'fundamentally alters the dynamics' of litigation and potential settlements

A coalition of 124 businesses, such as Amazon, Bayer, The Allstate Corporation and General Motors, submitted a letter to H. Thomas Byron III, Secretary of the Committee on Rules of Practice and Procedure, calling for disclosure requirements of Third-Party Litigation Funding (TPLF) agreements in federal civil cases due to its impact on cases and settlements.

Economics

PA State Rep. Stambaugh: 'Predatory lawsuits' impacting residents and businesses

Pennsylvania State Rep. Perry Stambaugh (R-86) said costs coming from "predatory lawsuits" in the health care sector are harming families and businesses.

Economics

SBA reports record surge in small business financing under Biden-Harris administration

Vice President Kamala Harris and Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced a significant financial boost for small businesses and disaster-impacted communities in Fiscal Year 2024 (FY24).

Economics

Niccol nears 100 days as Starbucks CEO, scaled back discounts unpopular with customers

Starbucks' new CEO Brian Niccol approaches his first 100 days at the helm, with scrutiny on his initial policies and actions coming at the company’s fourth-quarter earnings call at the end of October.

Economics

SBA-DoD initiative boosts investment in critical technology areas

Today, the U.S. Small Business Administration (SBA) and the Department of Defense (DoD) marked a year of progress for the Small Business Investment Company Critical Technology Initiative (SBICCT). This initiative, a collaboration between the SBA and DoD, aims to increase private investment in technologies vital to national security and economic growth.

Economics

SBA launches annual cyber summit focusing on small business security

The U.S. Small Business Administration (SBA) commenced its third annual Small Business Cyber Summit on October 16, 2024, in Washington. The event aims to provide small business owners with free educational webinars and resources to enhance their cybersecurity infrastructure. These sessions are part of the Biden-Harris Administration's efforts to promote digital tools for economic growth while reinforcing national cybersecurity.

Economics

Nationwide Executive: Tax-free returns for litigation investors 'stack the odds against' small businesses

Russ Johnston, Nationwide’s President of Commercial Lines, said the benefits that third-party funders get from litigation proceeds "stack the odds against" small businesses when they don't win their case.