Another Covid-19 stimulus round of PPP would save Main Street jobs

Sen. Angus King (I-Maine) holds a chart as bipartisan members of the Senate and House gather to announce a framework for fresh coronavirus relief legislation at a news conference on Capitol Hill on Dec. 1, 2020.

Kevin Lemarque | Reuters

Main Street has been clamoring for a new round of federal relief, with 83% of small business owners in the latest CNBC|SurveyMonkey Small Business Confidence Survey saying they would support a new economic stimulus package to help individuals and businesses impacted by the coronavirus pandemic. On Tuesday, after months of stalled talks between Capitol Hill and the White House and as coronavirus cases reach daily new highs, Congress unveiled a new stimulus proposal that seems tailored to meet the dire needs of small businesses across the country, though it was quickly shot down by Senate Majority Leader Mitch McConnell. 

In what would be a boon for small business owners, a

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The Week in Business: Wall Street Is Thankful

Greetings from the land of leftovers. Cut yourself a slice of cold pie and catch up on the business news you need to know for the week ahead. — Charlotte Cowles

Wall Street rejoiced at the news that President-elect Joseph R. Biden Jr. planned to nominate Janet Yellen, the former chair of the Federal Reserve, to head the Treasury Department. Ms. Yellen is known for her patient and steady hand at the Fed, where her policies helped create a record-long economic expansion before the coronavirus hit. If confirmed, she would be the first woman to hold the position. She also faces the unenviable job of rebuilding an economy that’s still being pummeled by the pandemic.

Ms. Yellen wasn’t the only thing that made Wall Street happy this week. Two major stock market indexes rose to all-time highs on Tuesday.

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Global shares mixed after fresh records on Wall Street | Business

TOKYO (AP) — Global shares were mixed Monday on renewed caution despite a record high finish on Wall Street last week driven by hopes for a COVID-19 vaccine and relief for the global economy.

France’s CAC 40 fell 0.3% to 5,579.72 in early trading, while Germany’s DAX inched up less than 0.1% to 13,346.33. Britain’s FTSE 100 gained 0.6% to 6,403.93. U.S. shares were set to decline as Dow futures dropped 0.5% to 29,730.50. S&P 500 futures fell 0.4% to 3,623.38.

After Tokyo trading ended, Koichiro Miyahara, the head of the Tokyo Stock Exchange, resigned to take responsibility for a massive system glitch that shut down trading last month. The full-day outage on Oct. 1 was the worst ever for the world’s third largest exchange.

Japan Exchange Group, or JPX, the exchange’s parent, said it had accepted his resignation over the error that disabled the system called Arrowhead.

Trading resumed

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Asian markets slip despite last week’s records on Wall Street

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on Monday.

Associated Press

TOKYO — Asian shares largely fell on Monday on renewed caution despite a record high finish on Wall Street last week driven by hopes for a COVID-19 vaccine and relief for the global economy.

Markets quickly lost early gains, with Japan’s benchmark Nikkei 225

dipping 0.1% and South Korea’s Kospi

down 0.4% while Australia’s S&P/ASX 200

slipped nearly 0.8%. Hong Kong’s Hang Seng

edged down 0.4%, while the Shanghai Composite

rose 1%. Benchmark indexes in Singapore

and Indonesia


Stephen Innes, chief global market strategist at Axi, noted that despite ups and downs investors are looking toward the arrival of vaccines for a gradual return to business

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Main Street Skowhegan extends Small Business Saturday to Dec. 5

In a photo of Christmas past, James Albert, left center, rings up customers at the River Roads Artisans Gallery in Skowhegan on Small Business Saturday last year. In 2020 merchants are stretching Small Business Saturday from Nov. 28 to Dec. 5. Michael G. Seamans/Morning Sentinel file

Main Street Skowhegan has partnered with a handful of local businesses to create #ShopSmall Week, an event that offers shoppers incentives for supporting small businesses in the area.

From Saturday, Nov. 28 to Dec. 5, shoppers can receive a variety of discounts from the 49 participating shops and restaurants in the Skowhegan area.

Every time a shopper makes a purchase at a business, they can fill out a raffle ticket for a drawing of two $100 gift cards and two $50 gift cards. Raffle winners will be selected at the end of the week, and the gift cards can be used at any local

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Stocks rise on Wall Street, headed for solid weekly gain | Business

NEW YORK (AP) — Stocks rose on Wall Street Friday at the start of a shortened trading session, led by gains in technology companies.

The S&P 500 rose 0.3% and is on track for its third weekly gain in the past four weeks. Investors have been encouraged by progress in getting a vaccine approved and distributed and hopefully halting the coronavirus pandemic’s grip on the global economy.

The Dow Jones Industrial Average, which earlier this week crossed 30,000 for the first time, rose 0.2%. The Nasdaq, which has a heavy weighting of technology stocks, gained 1%.

U.S. markets close at 1 p.m. Eastern after being shut for the Thanksgiving holiday.

The major indexes have shown double-digit growth so far this month, with the S&P 500 posting a gain of 11.3%. Investors are looking forward to a possible vaccine to control the pandemic that plunged the global economy into its deepest

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Stocks rise as Wall Street heads for winning week and a historic month

Stocks rose on Friday as traders wrapped up a strong week amid decreasing political uncertainty and positive vaccine news.

The Dow Jones Industrial Average traded higher by 38 points, or 0.1%. The S&P 500 gained 0.3% and the Nasdaq Composite advanced 1%.

The Dow, S&P 500 and Nasdaq were all up at least 2% for the week entering Friday’s session. Earlier in the week, the Dow jumped to an all-time high, breaking above 30,000 for the first time. The S&P 500 also notched a record closing high this week, and the Russell 2000 rallied to an all-time high.

“What we’re witnessing today, this week and this month, is a continuation in the rise of optimism,” said Mike Zigmont, head of trading and research at Harvest Volatility Management. “The environment for risk assets has been getting better and better” as drugmakers release more positive Covid-19 vaccine data and the risks on

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Main Street pins hopes on Small Business Saturday sales to help stay afloat

  • As holiday shopping gets into gear this weekend, its uncertain how Small Business Saturday on Nov. 28 will move the needle and help the millions of business owners on Main Street struggling to survive.
  • Forty-three percent of shoppers plan to spend less this holiday season than they did in 2019, and only 6% plan to spend the most money on Small Business Saturday, according to the Small Business Saturday Survey conducted by SurveyMonkey and CNBC.
  • Roughly 75% small business owners have said that they need holiday spending to return to normal in order to stay in business in 2021, a recent study by American Express revealed.

a person walking down a street: A stretch of stores along the base of Munjoy Hill had open signs out and were ready for business as part of small business Saturday, November 28, 2015.

© Provided by CNBC
A stretch of stores along the base of Munjoy Hill had open signs out and were ready for business as part of small business Saturday, November 28, 2015.

As holiday shopping gets into gear this weekend, its uncertain how Small

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Coronavirus: Colne business owners make VIRTUAL high street online

Business owners transform Lancashire town of Colne into VIRTUAL high street with website allowing residents to shop at local stores online during lockdown

  • Around 80 firms involved in venture designed to help boost pre-Christmas trade
  • Shoppers choose stores online, then click and collect or access free delivery
  • Entrepreneurs feared firms would have to shut down due to Covid restrictions 

Business owners have transformed their entire town into a virtual high street, with a website allowing residents to shop at local stores online during lockdown.

Around 80 firms in Colne, Lancashire, are involved in the venture designed to help them trade in the run-up to Christmas – their busiest period of the year.

Retailers have signed up to the specially-created website that includes all the high street shops.

Shoppers access Come to Colne,

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Wall Street Banks Slam Lending Proposal as ‘Unworkable’ and ‘Political’ | Investing News

WASHINGTON (Reuters) – Major U.S. banks on Wednesday pushed back on a proposal to bar them from snubbing controversial business sectors, such as oil and gas giants, in an unlikely turn of events that has pitched Wall Street against one of the Trump administration’s industry-friendly regulators.

In a letter to Acting Comptroller of the Currency Brian Brooks, the Bank Policy Institute (BPI) asked for more time to assess the “unprecedented” proposal and requested to see data the agency used to assess its economic impact.

The letter was signed by three other major Washington bank groups, which combined represent dozens of major lenders including JPMorgan Chase & Co., Bank of America Corp. Goldman Sachs and Morgan Stanley.

Last week, the Comptroller proposed a rule ensuring “fair access” to bank services for all types of legal businesses, based on a specific customer risk-assessment rather than broad client categories. It applies to the

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