Finance

As a grim fall approaches, Trump team feels increasingly confident

A pandemic summer marked by testing delays, supply shortages and continued spread of the coronavirus has set the stage for a disheartening start to the fall across much of the U.S., with the shuttering of schools and cancellation of college football seasons that officials had once hoped would herald a return to normalcy more than six months into the crisis.

But inside the White House, Trump’s top political aides are increasingly assured about their response — feeling like they’re finally getting a handle on how to fight the disease.

As the crippling crisis turns toward a third season, an alternate reality is taking shape inside the White House even in the face of spiking case counts, long lags in test processing and a Covid-19 death toll that regularly tops 1,000 Americans a day. Trump aides are growing confident about what they see as measurable progress: new therapeutic measures, delivery of

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Why a business education shouldn’t cost you thousands of dollars

Why a business education shouldn't cost you thousands of dollars
Why a business education shouldn’t cost you thousands of dollars

TL;DR: Work on your business skills without going back to school with the Complete 2020 MBA Hacker bundle for $39.99, a 98% savings as of Aug. 13.

Sure, building a successful business requires financial investment. But all the money in the world can’t buy you success. And while business school can certainly show you the ropes in a big way, it can also put you into debt fast.

Why not find a happy medium? The Complete 2020 MBA Hacker Bundle will help you develop the skills to make it in the business world with online coursework and lectures that you can explore on your own time. Think about this: about 80% of small businesses survive their first year, but that number drops precipitously in the years following. This training can help make sure you don’t fall in the latter statistic.

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Universities that spurn business as usual have best chance of surviving COVID-19

Businesses — whether large or small, or whether they are healthcare, educational cultural or recreational institutions — all have been tragically affected by COVID-19. For colleges and universities, the beginning of the fall semester will be especially challenging.

Even prior to the onset of the coronavirus, many universities and colleges were confronted with dire challenges, particularly enrollment declines (down for the ninth year in a row and more than 2 million this decade); rising operating costs; and competition from less expensive, online, for-profit educational vendors. Almost 60 institutions of higher learning — public and private non-profit — have gone out of business or merged over the past four years. Urban universities, such as FIU, are projected to fare better because of its neighboring population and affordable tuition. Those most vulnerable for the next round of closings and mergers are small, church-related institutions where private tuition invariably exceeds that of nearby

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The Capital Note: Currency Clash

Welcome to the Capital Note, a newsletter (coming soon) about finance and economics. On the menu today: Dollar Dominance, Euro Strength, and Japan’s Phillips Curve.

Dollar Dominance in Hong Kong

The dollar’s recent decline has led to predictions that the U.S. will lose its global currency hegemony. With Treasury yields at all-time lows and massive fiscal deficits increasing the risk of inflation, some commentators predict that international trade and finance will shift to other currencies, such as the euro, yen, and renminbi, at the expense of the greenback. Never mind that dollar depreciation is, as I pointed out in July, an intentional outcome of the Federal Reserve’s liquidity measures.

In times of economic weakness, a strong dollar tightens credit conditions, making it harder for firms and households to stay solvent. We should be relieved that policymakers succeeded in opening up the spigots of liquidity during an unprecedented global shutdown.

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Amazon descending onto malls is the logical next step: National Retail Federation chair

Donning his National Retail Federation chief hat for a second, Mike George says it would make sense that Amazon (AMZN) enters the mall by turning once occupied department stores into massive fulfillment centers.

“I think it is too early to speculate on that specific move, but it’s a wonderful reflection of this innovative industry,” George — whose full-time job is that of CEO of QVC/HSN owner Qurate Retail — told Yahoo Finance’s The First Trade.

But speculation has commenced in full force this week that Amazon will soon be the next generation mall’s primary anchor tenant.

Amazon is in talks with Simon Property Group — the biggest mall owner in the U.S. — to convert current or former Sears and J.C. Penney stores into monstrous distribution centers, The Wall Street Journal reports. Sources have told Yahoo Finance in recent months that Amazon has had teams on the ground at J.C.

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Back-to-School Shopping Tips for Home Schooling and At-Home Learning

The back-to-school shopping season is looking very different this year for both parents and retailers. As families brace themselves for several months of distance learning, parents are expected to spend more in different categories compared to last year.

According to the 2020 Back-to-School Survey from Deloitte, 51% of parents will spend more on internet-based learning resources, such as virtual tutors, subscriptions and e-learning platforms, as well as online classes. The survey also found that families are expected to dish out nearly $400 on average for computers and hardware, up 38% from last year, and an additional $316 on electronic gadgets and digital subscriptions.

No to mention that retailers throughout the country are shuttering doors of poorly performing store locations as they struggle to make up for lost sales. This will impact the number of sales offered during this back-to-school season.

“Struggling retailers and brands are determining they can’t afford to

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Biden, Harris to make unusual campaign debut in virus era

WILMINGTON, Del. (AP) — Joe Biden is making his first appearance with newly chosen running mate Kamala Harris on Wednesday, betting that the California senator’s historic profile and confrontational style against President Donald Trump will boost Democrats’ efforts to oust the Republican president amid cascading national crises.

The former primary rivals will appear at a high school in Biden’s Delaware hometown to discuss their shared vision for how to defeat Trump and then lead the country through a pandemic, its economic fallout and a long-simmering reckoning with systemic racism. Harris and Biden then will sit down together for an online fundraiser designed to let even small donors get a fresh glimpse of what the Democratic presidential ticket will look like together.

A reflection of coronavirus guidelines, there will be no adoring throngs that would greet a new running mate in a routine campaign and certainly one with Harris’ historical significance.

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Trump’s TikTok and WeChat Ban Could Backfire Inside China

Photo Illustration by Kelly Caminero/The Daily Beast/Getty
Photo Illustration by Kelly Caminero/The Daily Beast/Getty

HONG KONG—As Donald Trump moves to ban transactions with WeChat and ByteDance, the parent company of TikTok, people in China are wondering if they’ll need to ditch their iPhones to keep their favorite app, and noting that the White House’s splinternet rhetoric is straight out of Beijing’s own playbook. 

Trump’s moves against ByteDance and Tencent’s WeChat strike at two tech companies deeply entrenched in China’s social life—and, in WeChat’s case, critical to the consumer reach of American companies inside China. 

ByteDance’s TikTok, the popular short video platform that in the past weeks was in the crosshairs of Trump and Secretary of State Mike Pompeo, has been one of the most downloaded apps globally for two years—even though TikTok cannot be used in China legally due to its home country’s fractured internet governance policy.  And WeChat, a “super app” that blends messaging, social network

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CRA launches new tool to help businesses through COVID-19

(REUTERS)
(REUTERS)

The Canada Emergency Wage Subsidy (CEWS) hasn’t gotten the uptake Ottawa hoped for, with businesses calling it restrictive and confusing. Now, there’s a new tool to help businesses take advantage of the emergency benefit to help Canadians make ends meet through COVID-19.

The Canada Revenue Agency (CRA), with the help of the Canadian Federation of Independent Business (CFIB), launched a new and improved online calculator to help all types of businesses apply for the next period of the CEWS program, which opens for applications on August 17. 

CEWS covers 75 per cent of the wages of workers at companies

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‘Let’s listen to the teachers:’ NYC comptroller on school re-openings

To date, the city of New York, the most populous city in the U.S. and the hardest hit by the COVID-19 pandemic, has only received 12% of federal PPP loans. Like many cities and counties around the country, New York is counting on federal loan aid to help businesses and support in the reopening of public schools. NYC Comptroller Scott Stringer joined Yahoo Finance to discuss why the city needs a stimulus package that includes funding for education.

“We need to have a stimulus package that is also gonna include money for school re-openings; this is not a cheap undertaking,” he said.

“This is really a matter of putting dollars to work so that we can create a school plan that works for kids, whether it’s [online learning or] classroom learning. This is the challenge of every big city and every small county in America right now,” he stressed.

QUEENS,

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