Economics News on Business Daily

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.

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

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).

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.

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.

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.

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.

The U.S. Small Business Administration (SBA) has announced the depletion of funds for its disaster loan program, following a surge in demand due to Hurricane Helene. As a result, the SBA will pause new loan offers until Congress allocates additional funds. Despite this pause, individuals and small businesses are encouraged to continue applying for loans. Congressional leaders have assured that more funding will be provided when Congress reconvenes in November.

Qing Xu, Managing Partner at Oriza FOFs, said that emerging investment opportunities are present within China's evolving economic landscape. Despite global uncertainties, Xu emphasized the country's resilience and highlighted sectors like AI, healthcare, and sustainable development as key areas for future growth.

Amazon has increased safety measures and employee training efforts in anticipation of the increase in business as the holiday season approaches.

Gary Stern, a food and dining contributor at Forbes, said Foxtail Coffee is one example of a coffee company that is expanding while preserving culture and avoiding supply chain issues, in contrast to current issues faced by industry giant Starbucks.

Following President Biden's letter to Congress concerning disaster relief needs for communities affected by Hurricane Helene, U.S. Small Business Administration (SBA) Administrator Isabel Casillas Guzman has called on Congress to replenish the SBA’s disaster loan program. The funds are crucial for small businesses, homeowners, renters, and non-profits impacted by disasters and are expected to run out before the end of October.

The U.S. Small Business Administration (SBA) has announced the distribution of $9 million in grants to 49 organizations across the United States. The initiative, part of the Federal and State Technology (FAST) Partnership Program, aims to assist underserved communities by providing specialized training, mentoring, and technical support for startups.

The U.S. Small Business Administration (SBA) has announced the addition of 14 new awards to its Regional Innovation Cluster (RIC) network. This expansion aims to support small businesses and entrepreneurial organizations nationwide, fostering innovation and job creation.

Amazon Prime members will have access to millions of early holiday deals on Oct. 8 at 12:01 a.m. when Prime Big Deal Days starts, according to a Sept. 16 news release from Amazon.

On October 1, Deputy Administrator Dilawar Syed of the U.S. Small Business Administration visited Boise, Idaho. His visit aimed to understand the local business environment and engage with entrepreneurs during Boise Entrepreneur Week.

In a volunteer event Sept. 24, Amazon donated $50,000 to GO Pantry northern Kentucky, to support the food pantry's efforts to lessen food insecurity for children and youths in the community, according to a press release about the event.

Today, the Biden-Harris Administration announced a new rule aimed at reducing costs for small business owners. The U.S. Small Business Administration (SBA) Administrator Isabel Casillas Guzman revealed that the SBA 504 Loan Program will now allow easier refinancing of debt. This move is expected to help small businesses lower their debt payments and access more affordable capital for expansion or growth.

The U.S. Small Business Administration (SBA) has announced the 11th annual National Veterans Small Business Week (NVSBW), scheduled to take place from November 11 to November 15. The event will feature both in-person and virtual events nationwide.

Drew Maloney, President and CEO of American Investment Council (AIC), said private equity has a major impact on American jobs and communities, as well as provides support for local small businesses.