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Happy Wednesday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.



Donald Trump wearing a suit and tie: On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain


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On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain

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Write us with tips, suggestions and news: slane@thehill.com, njagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @NJagoda and @NivElis.

THE BIG DEAL-Trump gambles with new stimulus strategy: President Trump is taking a huge political and economic risk by walking away from negotiations with Democrats on a coronavirus relief package just four weeks before the election.

Trump

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Lenders have been accused of endangering the survival of large numbers of small UK businesses by blocking access to cheap state-backed loans, amid a stampede in demand.

The Financial Times has discovered that many financial institutions have cut access to bounceback loans, designed to get small businesses through the coronavirus pandemic, even though chancellor Rishi Sunak recently extended the scheme until November 30.

As cases of the virus surge and local lockdowns threaten the economic recovery, small businesses fear going bust without financial help. Some 1.2m businesses, almost a quarter of the UK total, have already received them. 

Some lenders, including Tide and Conister, have stopped offering bounceback loans but are still counted among the 28 lenders advertised by the UK government. 

Businesses that try to switch banks are finding that most will now only accept applications from existing customers — with several banks restricting this to customers who were

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Boeing has expressed interest in supplying the F/A-18 Block III Super Hornet fighter jet to the Indian Navy.

Responding to queries from BusinessLine, the company said, “We have responded to the Indian Navy’s Request for Information (RFI) for the Multi-role Carrier Borne Fighters programme. The F/A-18 Block III Super Hornet, the frontline fighter of the US Navy, is on offer to the Indian Navy. It will offer the most contemporary war-fighting capabilities to the Indian Navy while enhancing cooperation between the Indian Navy and US Navy.”

Pact for Apache helicopters

“Today, India has 11 C-17 Globemaster IIIs, eight P-8Is (with four more on order), 22 AH-64E Apaches (with six more on order) and 15 CH-47F(I) Chinooks, all Boeing platforms. In 2020, Boeing also signed an agreement with the Centre for the acquisition of six AH-64E Apache helicopters for the Indian Army,” the company added.

The pitch to the Indian

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CLOSE

An American Foods Group employee walks past a sign that says “Heroes trabajan aquí,” meaning “Heroes work here,” on April 28 in Green Bay. (Photo: Sarah Kloepping/USA TODAY NETWORK-Wisconsin)

A judge temporarily blocked the state health department from releasing the names of businesses linked to COVID-19 cases on Thursday, after the Wisconsin Manufacturers & Commerce sued to stop the release of the information to media outlets.

The state’s largest business lobbying group argued Thursday that the records are protected by patient confidentiality laws and that disclosure will “irreparably” harm businesses by “effectively blacklisting them.”

The order from Waukesha County Circuit Court Judge Lloyd V. Carter will remain in effect for five days. 

Track COVID-19 in Wisconsin: See the latest numbers and trends

The Milwaukee Journal Sentinel requested Wisconsin Department of Health Services data on facilities associated with COVID-19 cases on June 6.

The department announced in July that it

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The MarketWatch News Department was not involved in the creation of this content.

KANSAS CITY, Mo., Sep 29, 2020 (GLOBE NEWSWIRE via COMTEX) —
A majority of small business owners say in the wake of the pandemic, they need one-to-one business advice. This is just one of the main findings in the first of a four-part study, “Small Business Recovery Series,” by H&R Block (NYSE: HRB) tracking the trends of pandemic-related impacts, attitudes, and issues surrounding small business recovery and reopening.

“H&R Block has a long history of helping small business owners manage their tax and financial needs,” said Jeff Jones, president and CEO of H&R Block. “The pandemic has had a devastating effect on small businesses, and we want small business owners to know they don’t have to navigate these challenges alone. We’re committed to providing the resources and guidance they need for their businesses to survive and ultimately

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 If you or someone you know has had a child since 2002, it’s likely you’ve given or been given The Happiest Baby on the Block by Dr. Harvey Karp. You’ve almost definitely heard of the 5 S’s. Some parents with babies born after 2016 may have been lucky enough to obtain a SNOO sleeper to soothe fussy newborns. Dr. Karp has built an empire around helping babies sleep. But he by no means built that empire alone.

The business of baby sleep is, in fact, a family affair. What’s not often discussed when Dr. Karp’s work is heralded around the world is that his wife Nina, and daughter Lexi, actually played pivotal roles in growing the business to where it is today. Dr. Karp was eager to brag about the impact his female family members have had on his work – and his life.

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If you’re not learning, then you’re stagnant. If you’re stagnant, then you’re not evolving and the business isn’t progressing. – Seth Rollins

H&R Block (HRB) reported solid Q1 2021 (ended July 2020) year-over-year numbers because about 7.5 million people filed tax returns to become eligible for receiving stimulus payments. The company estimates a normal tax season in 2021. It is also cutting costs and expects to do reasonably well in the medium term. HRB has frozen hiring, is planning to renegotiate rents, and cut back on capital expenditure. Plans are on to slash vendor spend too.

Though this cost-cutting and a normal 2021 tax season will combine to boost HRB’s net income in 2021, growth is just not visible on the horizon. Even a healthy dividend yield of 6.94% is not attractive enough to justify an investment in the stock. Here’s my self-assessment:

The Tax Preparation Industry

As of May

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RICHMOND, Va. (AP) — A Virginia health official is warning of a “severe public health threat” if a planned campaign rally for President Donald Trump goes forward Friday evening.

Dr. Natasha Dwamena, a Department of Public Health district director, said in a letter Thursday that the 4,000 people expected to attend Trump’s rally at the Newport News/Williamsburg International Airport would be breaking Gov. Ralph Northam’s executive order generally banning gatherings of more than 250 people. She said the rally should be canceled, rescheduled or scaled down to comply with the governor’s order.

“The rally poses a concerning public health risk,” Dwamena said in the letter, which was addressed to the private company that leases the hangar where the rally is set to take place.

Northam’s top health and transportation aides also sent letters Thursday to airport officials around the state reminding them that they have “the authority to enforce” the

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COLUMBUS, Ohio–Attorney General Dave Yost on Wednesday filed a civil lawsuit seeking to block the owner of two Northern Ohio nuclear power plants from receiving any of the $1.3 billion in public bailout funds approved under House Bill 6, the law at the center of an enormous corruption scandal.

Yost’s lawsuit asks a Franklin County Common Pleas court judge to block payments of the bailout money to the Davis-Besse and Perry nuclear plants, owned by Energy Harbor (a former FirstEnergy Corp. subsidiary) which are scheduled to start in January. The bailout is funded by new monthly surcharges ranging from 85 cents for residential customers to as much as $2,400 for large industrial plants.

The lawsuit doesn’t seek to stop the collection of any nuclear bailout money — just to block its payment to Energy Harbor. Yost told reporters it’s up to the legislature to decide whether such money should be

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Farnoush Amiri, Associated Press
Published 3:03 p.m. ET Sept. 23, 2020

Columbus, Ohio – Ohio’s attorney general sued Wednesday in an attempt to block the state’s nuclear plants from collecting fees on electricity bills that were authorized in a new law at the center of a $60 million federal bribery probe involving the former speaker of the Ohio House.

Attorney General Dave Yost filed the lawsuit in Franklin County Court in Columbus against Energy Harbor, asking the judge to block payments to the company’s two nuclear plants near Cleveland and Toledo that were bailed out through the now-tainted legislation.

The bailout is funded by a fee that will be added to every electricity bill in the state starting Jan. 1 – directing over $150 million a year, through 2026, to the two nuclear plants. This fee is still set to go into effect at the start of the new year

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