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The COVID-19 pandemic and its widespread economic impact has been devastating for many Americans, with about 55 million people relying on unemployment benefits since mid-March. And many more Americans have lost wages, income, and the ability to save in other ways, with reduced working hours or losing important benefits like a 401(k) match.

All of this is damaging Americans’ future plans. According to new survey data from LendingTree and investing app Stash, one in four Americans expect to delay their retirement plans because of the economic impacts of COVID-19.

The survey, conducted in August 2020, asked 4,955 people about their financial preparedness before the pandemic, and how the pandemic will

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The dollar held gains against most currencies on Wednesday after US President Donald Trump abruptly cancelled talks on economic stimulus with Democrat lawmakers, heightening demand for safe-haven assets.

Currencies had only just regained a sense of calm after Trump returned to the White House from hospital, where he received treatment for the coronavirus.

Trump’s surprise decision to call off stimulus talks until after the November 3 presidential election increases downside risks for an already shaky US economy.

“The reaction is a type of risk-off trade to buy the dollar and the yen against other currencies,” said Masafumi Yamamoto, chief currency strategist at Mizuho Securities.

“Without additional stimulus, the US economy will slow and the global economy will slow.”

The dollar was last quoted at $1.1729 per euro, holding onto a 0.4 per cent gain in the previous session.

The British pound was quoted at $1.2881 after skidding by 0.86 per

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For the first time since 2011, Apple Inc didn’t release a version of its flagship iPhone in September. That delay has had a massive ripple effect through its network of vendors, which makes parsing supply-chain data even more challenging than usual.

Since at least March, we knew that the next instalment of the iconic device would be pushed back due to Covid-19. The pandemic initially hit manufacturing lines in China, but continued to impact the rest of the global line-up of companies that contribute to the product, all the way back to the team that develops it in Cupertino.

Foxconn Technology Group is the most obvious example. Its Hon Hai Precision Industry Co unit, which assembles iPhones at factories chiefly in China, posted a 21 per cent drop in September sales on Monday. It’s not alone. Largan Precision Co, which makes camera lenses for smartphones, reported a decrease of 22

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Posted on 5 October 2020 at 8:58pm

COLUMBIA – Since the onset of the pandemic, the importance of supporting small businesses nationwide has exploded. This week Columbia Chamber of Commerce leaders said they are honoring some of the city’s finest.

 

A ribbon cutting ceremony at the chamber early Monday morning officially kicked off the 2020 Small Business Week. The annual event usually takes place in the spring, but was delayed due to the pandemic. 

 

This year marks the 28thyear of Small Business Week in Columbia, where over 80 percent of the city’s businesses fit the criteria. 

 

Matt McCormick, President of the Columbia Chamber of Commerce, said this year looks quite different.

 

“Just like everyone else we have had to shift our programming, make sure we are staying within the rules and guidelines,” McCormick said. “We’ve set up virtual accounts, Zoom accounts so we can live feed them.”

 

Several

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The All India Spices Exporters Forum is up in arms over the delay in clearance of import of spices due to the requirement of FSSAI testing and sampling for the imported products.

Rajiv Palicha, Chairman, All India Spices Exporters Forum, said that several members who import various raw materials under Advance Authorisation and EOU schemes for manufacturing valued added products for 100 per cent exports have highlighted at issues associated with clearance of import cargo at Kochi Port.

He said the food safety authority has recently started insisting on sample testing under the Food Import Clearance System for all spice imports for value-added export production and this is causing undue hardship and loss of export revenue for the entire industry.

The Forum has sought the intervention of the Joint Director, DGFT, Kochi in facilitating the release of import consignments under the Advance Authorisation scheme of spice exporters based on the

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Movie theaters hoped to be back in business in a big way this fall, attracting stir-crazy audiences with a slate of blockbusters that included “Tenet,” “Mulan,” and “No Time to Die.” For an industry that had been brought to its knees by the coronavirus pandemic, with closures that left them without revenues for much of the year, nothing was more important than a grand and successful reopening.

Unfortunately, more than a month after “Tenet” debuted to disappointing box office results, the exhibition sector is in an even more dire situation. “Mulan” opted to debut as a premium on-demand offering via Disney Plus. “No Time to Die” pushed its premiere back into April, and several other movies have postponed their releases into next spring or summer when, studios hope, a vaccine will be widely available. On Saturday, Cineworld, one of the world’s largest exhibitors, announced that it was considering closing its

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The House of Representatives delayed a planned Wednesday night vote on the updated Heroes Act to allow more time for negotiations between House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin. The two will meet again Thursday in an attempt to find more common ground and a path to passing the next round of stimulus aid. Democrats now plan to vote on the proposal on Thursday, giving roughly 24 more hours for a bipartisan deal to come to fruition. “We’ll have to see. If we have an agreement,

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  • The US Commerce Department issued export restrictions against SMIC.
  • These restrictions will set back China’s search for domestic alternatives to Samsung and TSMC and limit Chinese tech companies’ ability to compete in foreign markets.

The US Commerce Department issued an order requiring US companies to obtain a license to export products to SMIC, according to Reuters. The Department alleges that SMIC could be supplying components to China’s military; however, representatives of SMIC deny this, claiming that the company only manufactures semiconductors for civilian and commercial end-users. 

Huawei share of smartphone shipments by region

US export restrictions against SMIC will set back China’s search for domestic alternatives to Samsung and TSMC.

Business Insider Intelligence


The export restrictions will make it particularly difficult for SMIC to obtain foundry equipment, setting back China’s efforts to develop a domestic alternative to Samsung and TSMC. Samsung and TSMC currently operate the only foundries in the world capable of manufacturing 7nm chips. The

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By Leika Kihara

TOKYO, Sept 24 (Reuters)Some Bank of Japan board members warned a resurgence in the coronavirus pandemic could delay an economic recovery and destabilise its banking system by pushing more companies under, minutes from the bank’s July rate review showed on Thursday.

While they agreed on the need to ramp up stimulus if needed, the BOJ policymakers said the hit to financial institutions’ profits from the pandemic could erode their ability to boost lend, the minutes showed.

“Infection numbers are increasing at a faster pace globally, so we need to be on alert of the possibility of a re-insurgence including in Japan,” a few members were quoted as saying.

“If infection numbers rise again, the timing of an economic recovery will be delayed,” one of them said. The damage from the pandemic, if prolonged, could lead to job losses, hurt household income and cool consumption,

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■ Editor’s note: This is the fourth installment in a season-long series on key games and happenings around East Texas Friday night football. This week, we take a look at White Oak’s win over New Diana — the first game of the season for the Roughnecks after missing the first three weeks due to COVID-19.

For the White Oak Roughnecks, it was worth the wait.

Coming off an 0-10 season and anxious to get back on the field to erase the memory of an ugly 2019 campaign, the Roughnecks were forced to sit idle for three weeks due to COVID-19.

When they did hit the field, coach Kris Iske’s squad took care of business on the road.

“As a coaching staff, we’re very pleased with the way we played,” said iske, who started his seventh season as head coach of the Roughnecks. “The kids have been working hard since the

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