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☆ Rescuers Hunt for Survivors of Morocco Quake With Over 2,000 Dead
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +4 min

Many people spent a second night in the open after the 6.8 magnitude quake hit late on Friday. The latest Interior Ministry figures put the death toll at 2,012, with 2,059 people injured, including 1,404 in critical condition. Morocco has declared three days of mourning and King Mohammed VI called for prayers for the dead to be held at mosques across the country on Sunday. PULLING SURVIVORS FROM RUBBLEThere were hopes more survivors could be found. Footage captured on Saturday in the town of Moulay Brahim, some 50 km (30 miles) south of Marrakech, showed rescuers pulling someone from the rubble.

Persons: Jihed Abidellaoui, Alexander Cornwell MARRAKECH, King Mohammed VI, Caroline Holt, Abdellatif Ait, Saida Bodchich, Ayat, ”, Ahmed Eljechtimi, Jose Joseph, Adam Makary, Omar Abdel, Tom Perry, Frances Kerry Organizations: ., Ministry, World Health Organization, International Federation of Red, Red Crescent Societies, High, Reuters, . Geological Survey, International Monetary Fund, World Bank, IMF Locations: Morocco, Marrakech, Moulay, Tansghart, Abdellatif Ait Bella, Turkey, Bengaluru, Razek, Cairo

REUTERS/Brendan McDermid Acquire Licensing RightsLONDON, Sept 8 (Reuters) - Rising U.S. business bankruptcies may raise a red flag in what otherwise appears like an economy now impervious to rising interest rates. Commenting on the numbers, insolvency research organisation ABI blamed elevated interest rates, price inflation and a resumption of student loan payments as just some of the headwinds causing stress. That partly mirrors some of built-in household resilience to rising rates related to long-term fixed-rate borrowings and still-high cash savings that now earn significantly higher rates of interest now too. And that 10% - accounting for more than 60% of index market cap - had seen no rise in net interest payments so far in the Fed campaign. But creeping insolvencies among the smaller firms - many of whom have been dubbed 'zombies' for years due to their survival solely on low interest rates - may be a better reflection of what's starting to happen at the coalface of the economy.

Persons: Brendan McDermid, Albert Edwards, Edwards, Andrew Lapthorne, Russell, NFIB, Mike Dolan, Josie Kao Organizations: New York Stock Exchange, REUTERS, Yellow Corp, P Global Market Intelligence, Reuters, Societe Generale, Fed, National Federation of Independent Business, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, midyear

☆ Federal Reserve Chair Jerome Powell hints at more bad news for consumers
▼ + stars: | 2023-08-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Additional interest rate hikes are still on the table and rates could remain elevated for longer than expected, Federal Reserve Chair Jerome Powell said Friday. “Additional evidence of persistently above-trend growth could put further progress on inflation at risk and could warrant further tightening of monetary policy,” Powell said. “So what does that mean for monetary policy? The Fed chair said higher interest rates are likely pulling on the economy’s reins, implying that r* might not be structurally higher, though he said it’s an unobservable concept. But we cannot identify with certainty the neutral rate of interest, and thus there is always uncertainty about the precise level of monetary policy restraint,” Powell said.

Persons: Jerome Powell, Powell, ” Powell, ” William English, Jason Furman, ” Organizations: DC CNN, Kansas City, Fed, Financial, Atlanta Fed, National Federation of Independent, Yale University, Fed’s, Governors, CNN, Commerce Department, Index, Harvard Locations: Washington, Jackson Hole , Wyoming

☆ Japan set to release Fukushima water amid criticism, seafood import bans
▼ + stars: | 2023-08-23 | by ( Sakura Murakami | ) www.reuters.com time to read: +3 min

[1/4] An aerial view shows the storage tanks for treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan August 22, 2023, in this photo taken by Kyodo. Japan has maintained that the water release is safe. "Being told something is scientifically safe and feeling reassured are two different things... Proof that the water release is scientifically safe may not remove reputational damage," he said. The water will initially be released in smaller portions and with extra checks, with the first discharge totalling 7,800 cubic metres over about 17 days, Fukushima power plant operator Tepco (9501.T) said on Tuesday.

Persons: Wang Wenbin, Japan's, Yoon Suk, John Lee, Masanobu Sakamoto, Sakura Murakami, Raju Gopalakrishnan Organizations: Kyodo, REUTERS, Rights Companies Tokyo Electric Power Company Holdings, International Atomic Energy Agency, IAEA, Hong, National Federation of Fisheries Cooperative, World Health, Tepco, Thomson Locations: Okuma, Fukushima prefecture, Japan, China, Hong Kong, Macau, Tokyo, Fukushima

☆ Explainer: The Fukushima water release plan
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +5 min

An aerial view shows the storage tanks for treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan August 22, 2023, in this photo taken by Kyodo. Water containing tritium is routinely released from nuclear plants around the world, and regulatory authorities support dealing with the Fukushima water in this way. When ingested at levels above those in the released water it can raise cancer risks, a Scientific American article said in 2014. SAFETYJapan and scientific organisations say the released water is safe, but environmental activists argue that all the possible impacts have not been studied. The latest import restrictions were imposed in July after the IAEA approved Japan's plans to discharge the treated water.

Persons: Masanobu Sakamoto, Katya Golubkova Organizations: Kyodo, REUTERS Acquire, Rights, Tanks, Electric Power Company, Tepco, International Atomic Energy Agency, IAEA, Greenpeace, World Health Organization, South, National Federation of Fisheries Cooperative Associations, Tokyo, Thomson Locations: Okuma, Fukushima prefecture, Japan, Fukushima, China

☆ Majority of small businesses believe US is in recession
▼ + stars: | 2023-08-21 | by ( Safiyah Riddle | ) www.reuters.com time to read: +2 min

Aug 21 (Reuters) - More than half of U.S. small business owners believe the economy is already in a recession, marking a slight decrease between July and April, despite most firms reporting their own financial condition was strong, a survey released on Monday showed. On the economy, 52% of small business owners said they believe the economy is already in a recession, down from 55% in April, the survey found. Recent indicators have shown strong retail sales and rising spending on services, the two largest small business industries. Moreover, businesses see their own financial condition as strong and their local economies relatively healthy. There was heightened concern among small businesses at the outset of the collapse since 80% of all small businesses use a small, mid-sized or regional bank for financial needs.

Persons: Safiyah Riddle, Josie Kao Organizations: National Federation of Independent Business, Silicon Valley Bank, U.S, Federal Reserve, Thomson Locations: U.S, Silicon

☆ Los Angeles 2028 decision on new sports in next few weeks-IFAF
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

An LA2028 sign is seen at the Los Angeles Coliseum to celebrate Los Angeles being awarded the 2028 Olympic Games, in Los Angeles, California, U.S., September 13, 2017. REUTERS/Lucy Nicholson/File PhotoBERLIN, Aug 14 (Reuters) - A decision on which new sports will be included in the Los Angeles 2028 Olympics is likely to come in the next few weeks, the head of the International Federation of American Football said on Monday. "We expect a decision (from LA2028 organisers) in the coming weeks," IFAF President Pierre Trochet said in a call with reporters. Flag football is banking on its support in the United States, growing popularity abroad as well as potential participation of NFL players at the Games to make it to Los Angeles. The LA 2028 organisers can decide on several sports to be included.

Persons: Lucy Nicholson, Pierre Trochet, Brett Gosper, Karolos Grohmann, Hugh Lawson Organizations: Los Angeles Coliseum, REUTERS, International Federation of American Football, . Flag, Olympic Committee, Flag, NFL, Games, breakdancing, Tokyo Games, Thomson Locations: Los Angeles, Los Angeles , California, U.S, Los, Mumbai, United States, NFL Europe

☆ Biden wants to make sure Congress doesn't slash pay for firefighters tackling wildfires raging across the country
▼ + stars: | 2023-08-10 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Biden administration wants additional funding from Congress for Ukraine, extreme weather, and the border. Currently, wildfire firefighters are working under a temporary pay increase, which will expire by October. "The administration is committed to building a more robust and resilient wildland firefighter workforce and fairly compensate wildland firefighters' difficult and dangerous work that they do. "We've seen bipartisan understanding of the need to provide firefighter pay to prevent a cliff," the official said. On Tuesday, a bipartisan group of lawmakers introduced the Wildland Firefighter Paycheck Protection Act, which would make pay increases for firefighters permanent.

Persons: Biden, Joe Biden's, Kevin McCarthy, We've, Josh Harder, weren't Organizations: Biden, Management, Service, Agriculture, FEMA, OMB, NBC News, National Federation of Federal Employees, National Forest Service Locations: Ukraine, Wall, Silicon, Hawaii, Texas, California

☆ European stocks outperform as Italy soothes bank tax nerves
▼ + stars: | 2023-08-09 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/2] Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. MSCI's broad index of global shares (.MIWD00000PUS) was 0.2% higher in European afternoon trade. Europe's regional Stoxx 600 (.STOXX) share index rose 0.9%, with bank stocks (.SX7P) around 1.6% higher. Italy's FTSE MIB share index gained 1.8%. "The burden-sharing of the costs and benefits from higher rates has a habit of becoming a political issue," Deutsche Bank strategist Jim Reid said.

Persons: Toby Melville, Jim Reid, China's, Naomi Rovnick, Stella Qiu, Sydney, Ellen Zhang, Christina Fincher, David Evans Organizations: London Stock Exchange, REUTERS, China CPI, Wall Street, Deutsche Bank, Federal Reserve, Nasdaq, Moody's, U.S . National Federation of Independent, Wednesday, U.S . Treasury, BCA, Reserve, Brent, U.S . West Texas, Thomson Locations: Canary Wharf, London, Britain, China, Italy, Thursday's U.S, U.S, Saudi Arabia, Beijing

☆ US small businesses feel better about the economy, but still can’t find enough skilled workers
▼ + stars: | 2023-08-08 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

As inflation continued to slow last month, optimism improved among the more than 1,300 small businesses surveyed, though it remains subdued compared to pre-pandemic times. Of owners hiring or trying to hire, 92% reported few or no qualified applicants for their available jobs, also unchanged from the prior month. “With small business owners’ views about future sales growth and business conditions dismal, owners want to hire and make money now from solid consumer spending,” said Bill Dunkelberg, the NFIB’s chief economist, in a release. Despite the economy holding steady, optimism among small businesses isn’t back to where it was before the pandemic. Even though businesses are still grappling with difficulties in hiring, cooling inflation has taken some of the edge off.

Persons: ”, Bill Dunkelberg, they’ve Organizations: DC CNN, National Federation of Independent Business, Federal Reserve, Gross, Federal Reserve Bank of Cleveland, Labor Department, Wall Street Locations: Washington

☆ Ahead of two key inflation reports, what would a soft landing look like exactly?
▼ + stars: | 2023-08-06 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

But aside from simply skirting a recession, it’s not obvious what the economy would look like in a soft landing. And who even declares that the Fed has officially defied the odds and achieved a soft landing? The main aspect of a soft landing, according to economists, is the absence of a recession, which is determined by the National Bureau of Economic Research (NBER.) In a soft landing, the job market has to remain intact. The other key feature of a soft landing is for the Fed to successfully control inflation, but that’s open to some interpretation.

Persons: we’ve, ”, Kayla Bruun, “, Julia Pollak, ” Pollak, Josh Markman, cooldown, Austan Goolsbee, ” Goolsbee, Raphael Bostic, Michelle Bowman, Patrick Harker, Armour, Ralph Lauren Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Bank of America, Fed, National Bureau of Economic Research, Morning, Atlanta, ZipRecruiter, Labor, Bel Air Investment Advisors, Federal, Federal Reserve Bank of Chicago, Bloomberg, Atlanta Fed, “, Tyson Foods, UPS, Fox, Restaurant Brands, The National Federation of Independent Business, US Commerce Department, China’s National Bureau of Statistics, Disney, US Labor Department, National Statistics, University of Michigan Locations: Washington

☆ Businesses aren't acting like a recession is coming this year
▼ + stars: | 2023-07-30 | by ( Noah Sheidlower | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Still, businesses aren't feeling too optimistic, with most still expecting a recession this year. However, big companies are hiring, businesses are expanding, and lots of entrepreneurs are filing to open new startups. This was partly due to consumers spending more and business investment being way up. The main measure of business investment in the GDP report is well above pre-pandemic levels, and shows no signs of slowing down ahead of a hypothetical recession. Businesses also aren't feeling too optimistic according to the National Federation of Independent Business' Small Business Optimism Index.

Persons: —, Gregory Daco, Daco, Jeffrey Roach, Jerome Powell, Powell Organizations: Service, Bureau, Infrastructure Investment, Jobs, US . Entrepreneurs, Economic Innovation Group, Economic, Nationwide, Edelman Data, Intelligence, National Federation of Independent Business, LPL, Federal Reserve, Fed Locations: Wall, Silicon

☆ How America's biggest retailers plan to use technology to catch organized retail theft
▼ + stars: | 2023-07-29 | by ( Bob Woods | ) www.cnbc.com time to read: +7 min

"We're seeing a lot of tech vendors layering AI onto existing technologies," said Christian Beckner, vice president of retail technology and cybersecurity for the National Federation of Retailers, a Washington, D.C.-based trade association. said Dr. Read Hayes, director of the Loss Prevention Research Council, a think tank comprising researchers, retailers, technology companies, manufacturers and law enforcement professionals. And many of the crimes that are being classified as organized retail theft are not taking place in stores, but at various points throughout the supply chain and distribution systems that require their own solutions. It's now harnessing AI to analyze metadata from video images captured by cameras installed outside and inside of retail environments. Some retailers are using camera systems featuring facial recognition software to help identify criminals, despite legal and privacy concerns.

Persons: they're, Christian Beckner, Beckner, Read Hayes, Hayes, Dan Berthiaume, —, James Stark, Stark, that's, David Johnston, Johnston Organizations: Getty, Walmart, Target, Kroger, Macy's, CVS, National Federation of Retailers, D.C, Prevention Research Council, University of Florida, National Coalition of Law, Walgreens, Ucg, Axis Communications, Canon Locations: Washington, Gainesville, Queens , New York, Swedish

☆ United Airlines to add Braille to plane interiors
▼ + stars: | 2023-07-28 | by ( Lilit Marcus | ) edition.cnn.com time to read: +1 min

CNN —United Airlines will put Braille throughout its plane interiors in order to support customers who are blind or have visual disabilities, becoming the first US airline to do so. “By adding more tactile signage throughout our interiors, we’re making the flying experience more inclusive and accessible, and that’s good for everyone,” Linda Jojo, Executive Vice President, Chief Customer Officer for United, said in a statement. In addition, the airline is working with the National Federation of the Blind (NFB) and the American Council of the Blind (ACB) on other ways to support blind and visually disabled passengers on board. “United is taking additional steps to create an accessible airline passenger experience through Braille signage,” ACB Interim Executive Director Dan Spoone said in a statement. Braille is named for its creator, blind Frenchman Louis Braille.

Persons: ” Linda Jojo, Dan Spoone, ” It’s, Frenchman Louis Braille Organizations: CNN — United Airlines, United, National Federation of, American Council of, Blind, “, ACB Locations: United States

☆ Business conditions are expected to improve as inflation slows
▼ + stars: | 2023-07-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —American businesses are expected to fare better in the coming months, according to a survey of economists and analysts released Monday. A survey from the National Association for Business Economics released Monday showed that businesses have rejoiced in better economic conditions. Meanwhile, a majority of respondents reported that wages at their firms were unchanged — the first time more economists reported no wage gains than rising wages since 2021. The Fed doesn’t necessarily need a recession to do that, but some research suggests the labor market must cool further. The labor market is closely watched by Fed officials since higher labor costs feed into inflation.

Persons: haven’t, ”, Julia Coronado, Austan Goolsbee, cooldown, Brian Moynihan, bode Organizations: DC CNN, Federal Reserve, University of Michigan’s, Consumers, National Association for Business, Employers, Chicago Fed, Bank of America, Bureau of Labor Statistics, National Federation of Independent, Fed Locations: Washington

But Shautsou’s statement was the first time the Belarus Red Cross has admitted taking part in the deportations. The International Federation of Red Cross and Red Crescent Societies (IFRC), the Red Cross umbrella organization, expressed “grave concern” and called for the practice to stop. Dzmitry Shautsou, the Secretary General of the Belarusian Red Cross, pictured near the Polish border. “We have contacted the Belarus Red Cross to express our grave concern and to stop any similar activity in the future,” the statement said, adding that “actions by any of our member national Red Cross or Red Crescent Societies in contradiction with our humanitarian mission” are “taken extremely seriously.”The Ukrainian branch of the Red Cross has called for the IFRC to denounce the Belarus Red Cross’ involvement in the deportations. “We implore them to carefully consider the matter of excluding the Belarus Red Cross from the International Red Cross and Red Crescent Movement,” the group said in a statement.

Persons: Dzmitry Shautsou, ” Shautsou, Ulf Mauder, Shautsou, ”, “, Dmytro Kuleba, Vladimir Putin, Rights Maria Lvova, Alexander Lukashenko, Putin, Wagner, Yevgeny Prigozhin Organizations: CNN, Cross, International Federation of Red, Red Crescent Societies, Criminal Court, Belarus “, TV, Red Crescent Movement, Crescent, ICC, Twitter, Russian, Rights, Ukraine Russia, Crisis Management Group Locations: Belarusian, Belarus, Ukraine, Republic of Belarus, Russia, Rome, Polish, Severodonetsk

☆ US House panel looks to revive stalled self-driving legislation -sources
▼ + stars: | 2023-07-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, July 19 (Reuters) - A U.S. House of Representatives panel will hold a July 26 hearing as lawmakers look to jump start long-stalled efforts to pass legislation to speed adoption of self-driving cars. The Energy Commerce subcommittee on Innovation, Data, and Commerce confirmed to Reuters it was holding a hearing titled “Self-Driving Vehicle Legislative Framework: Enhancing Safety, Improving Lives and Mobility, and Beating China." The panel will consider separate draft legislation from Representative Bob Latta, a Republican and Representative Debbie Dingell, a Democrat. In order to ensure Americans can reap the benefits of self-driving vehicles, we must enact a comprehensive national law that establishes a pathway to safe deployment". Last week, the National Highway Traffic Safety Administration said it would soon decide on a petition filed by General Motors' (GM.N) Cruise self-driving technology unit seeking permission to deploy up to 2,500 self-driving vehicles annually without human controls.

Persons: Bob Latta, Debbie Dingell, Cathy McMorris Rodgers, Gus Bilirakis, John Bozzella, Gary Shapiro, Mark Riccobono, Pete Buttigieg, David Shepardson, Chris Reese, Alex Richardson Organizations: U.S . House, Energy, Innovation, Commerce, Reuters, Mobility, Republican, House Energy, Alliance, Automotive Innovation, Consumer Technology, National Federation of, Blind, Traffic Safety Administration, General Motors, Thomson Locations: America, China

☆ The economy is doing exactly what we need to avoid a recession and keep booming
▼ + stars: | 2023-07-12 | by ( Noah Sheidlower | Madison Hoff | ) www.businessinsider.com time to read: +7 min

Recent data reveals inflation is cooling, the labor market is slowing, and a recession may not come after all. Inflation data released Wednesday showed that inflation is coming down fast. The Fed may be pleased by this data, though a rate hike may still be on the table later this month. Other measures also show that the job market is still very healthy. The Fed may be happy to see slower job growth and the prime-age labor force participation rate rising, Bunker said.

Persons: doesn't, Julia Pollak, Nick Bunker, Bunker, Jerome Powell, Bill Adams, Pollak, " Pollak, Powell Organizations: Service, Labor, Survey, North America, Federal, Consumer, CPI, National Federation of Independent Business, Congress, Fed, Comerica Bank, Comerica Locations: Wall, Silicon

☆ The number of small firms raising prices fell to the lowest level since March 2021
▼ + stars: | 2023-07-11 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —The number of small businesses saying they raised their prices fell in June to its lowest level since March 2021, according to a survey released Tuesday by the National Federation of Independent Business. The share of respondents who reported higher prices dropped by three points last month to 29%, “still a very inflationary level but trending down,” the report showed. “Inflation and labor shortages continue to be great challenges for small businesses,” said the NFIB’s chief economist Bill Dunkelberg in a release. The current tight labor market has been keeping pressure on employers to raise prices to protect their margins — a dynamic that Fed Chair Jerome Powell discussed in recent remarks. The impact of improving supply chainsThe economy has slowed from its red-hot pace after rebounding from the pandemic, but some dynamics that prompted businesses to raise prices have been slowly unwinding.

Persons: “, Kieran Clancy, ”, Bill Dunkelberg, Jerome Powell, Mary Daly Organizations: DC CNN, National Federation of Independent Business, Pantheon, Federal Reserve, Fed, Research, San Francisco Fed Locations: Washington, San

☆ Fukushima wastewater: South Korean shoppers hoard salt, seafood ahead of Japan's release of treated radioactive water
▼ + stars: | 2023-07-09 | by ( Jessie Yeung Yoonjung Seo Paula Hancocks | Jessie Yeung | Yoonjung Seo | ) edition.cnn.com time to read: +7 min

The government has said the wastewater release will begin this summer, though it has not specified a date. The shortages were so acute that the government was forced to release sea salt from its official reserves to stabilize salt prices, which have soared more than 40% since April, according to the country’s salt manufacturing association. After a thorough safety review, it concluded in a report last week that the wastewater release would have “negligible” impact on people or the environment. The South Korean government said last week it would respect the IAEA’s findings. Photos show protesters holding banners that lambasted the IAEA and the Japanese government and condemned the wastewater release.

Persons: There’s, Chung Sung, Jung Yeon, ”, Lee Gi, I’m, ” Lee, Rafael Grossi, “, Lee, I’ve, … I’ve Organizations: Seoul CNN —, United Nations, CNN, Shoppers, Ministry of, Fisheries, Reuters, National Federation of Fisheries Cooperatives, Gallup, Noryangjin Fisheries Wholesale, Getty, International Atomic Energy Agency, IAEA, South Locations: Seoul, South Korea, Fukushima, Japan, United States, China, Gallup Korea

☆ The US economy can’t function smoothly without UPS. That’s why a strike will hurt
▼ + stars: | 2023-07-07 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

That’s why there is so much at stake in contract negotiations between UPS and the Teamsters union. Without a deal, 340,000 Teamsters are preparing to go on strike at the nation’s largest trucking company starting August 1. A UPS strike could spread disruptions like that across much of the country. Their ability to adjust and find alternatives, it’s going to be challenging.”The economy has changed radically in the 26 years since the last UPS strike in 1997. UPS won’t comment on its contingency plans, saying it is focused on reaching a deal that would avoid a strike.

Persons: ”, Patrick Anderson, It’s, “, Sean O’Brien, O’Brien, it’s, Holly Wade, Satish Jindel, Mike Eisner, Jindel, Eisner, Tommy Storch, you’ll, it’ll, ” Storch Organizations: New, New York CNN, UPS isn’t, UPS, Teamsters, Anderson Economic Group, CNN, “ Shipping, National Federation of Independent Business, FedEx, US Postal Service, Postal Service, USPS Locations: New York, Michigan

☆ A New Kind of Disaster Aid: Pay People Cash, Before Disaster Strikes
▼ + stars: | 2023-07-03 | by ( Somini Sengupta | ) www.nytimes.com time to read: +1 min

In the United States, cash assistance to mothers for the first year of their children’s lives strengthened their babies’ brain development. Dozens of American cities have pilot projects to give poor residents no-strings-attached cash. Now comes the additional pressure of extreme weather, both slow and fast, aggravated by the burning of coal, oil and gas. Proponents of cash relief say it’s a more efficient way to use aid money because cash incurs fewer logistical expenses and funnels money directly into the local economy. “Cash transfers help families survive climate disasters,” said Miriam Laker-Oketta, research director for GiveDirectly, an aid group that does just that.

Persons: Cash, ”, Miriam Laker, “, Wanjira Mathai, Hurricane Julia Organizations: ”, World Resources Institute, International Federation of Red Locations: United States, Guatemala, Honduras

☆ LGBTQ small business owners struggle to find financing
▼ + stars: | 2023-06-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

For LGBTQ owners, the struggle has been even harder. Overall, small business owners are skeptical about their future business conditions, said Holly Wade, executive director of the National Federation of Independent Business' Research Center. "The small business economy is being hindered by inflation, supply chain disruptions, and labor shortages," she said. Yet, data show that when it comes to financing, LGTBQ small business owners are being left behind. While LGBTQ small business owners are very optimistic, they are also still more likely to report more kinds of financial challenges than non-LGBTQ businesses.

Persons: It's, Spencer Watson, Watson, Holly Wade, hasn't Organizations: Advancement, Center, Economic Advancement & Research, National Federation of Independent Business ' Research

☆ Russia’s Storied Tchaikovsky Competition Is Diminished by War
▼ + stars: | 2023-06-29 | by ( Javier C. Hernández | ) www.nytimes.com time to read: +1 min

The International Tchaikovsky Competition, one of the world’s most prestigious music contests, is typically a bustling, Olympics-style gathering that every four years brings talented young pianists, violinists, cellists, singers and others from around the globe to Russia. But as the storied competition unfolds this month for the first time since Russia invaded Ukraine and became a pariah in the West, it is struggling to live up to its reputation. The contest, which is organized and financed by the Russian government, was expelled from the international federation of music competitions because of the war. And, amid a crackdown on free speech, the foreign press corps representation is less robust, save for journalists from nations friendly to Russia, including China. “It’s genuinely sad because it was very prestigious.”

Persons: cellists, “, ”, Clive Gillinson, “ It’s Organizations: Carnegie Hall Locations: Russia, Ukraine, Russian, United States, Europe, China

☆ Main Street's labor problem is weighing on business owners as summer hiring picks up
▼ + stars: | 2023-06-21 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

Alison Schuch owns Fells Point Surf Co., with locations in Maryland and Delaware. As summer arrives, Schuch is down about ten workers at her two beach locations as a perfect storm of reasons drive a post-pandemic hiring crunch. With summer hiring season in full swing, small business owners like Schuch have lingering concerns about filling roles to meet consumer demand. Labor quality was the most important problem for nearly a quarter of National Federation of Independent Business members surveyed in May, according to the small business advocacy organization. While owners have concerns about future business conditions and a potential recession, they're still trying to hire and raise wages to entice workers.

Persons: Alison Schuch, Schuch, It's, they're, Brendan McCluskey, he's, McCluskey Organizations: Co, Dewey, Goods, Labor, National Federation of Independent Business, Trident Builders Locations: Maryland, Delaware, Fells Point , Maryland, Dewey Beach , Delaware, Bethany Beach , Delaware, Baltimore , Maryland

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