Friday, October 16, 2020

Budget Deficit Hits Record $3.1 Trillion - The New York Times

The federal budget deficit soared to a record $3.1 trillion in the 2020 fiscal year, official figures showed on Friday, as the coronavirus pandemic fueled enormous government spending while tax receipts plunged as households and businesses struggled with economic shutdowns.

The deficit — the gap between what the U.S. spends and what it earns through tax receipts and other revenue — was $2 trillion more than what the White House's budget forecast in February. It was also three times as large as the $984 billion deficit in the 2019 fiscal year.

Date: 2020-10-16T11:39:41.000Z
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Former Pipe Factory Worker Becomes a Budget-Store Billionaire

(Bloomberg) -- A Chinese entrepreneur who started a chain of stores selling sleek household items at bargain-basement prices has just become a billionaire, benefiting from the global trend of consumers turning to cheap goods as the coronavirus pandemic eats into spending budgets.

Guangdong, China-based Miniso Group Holding Ltd. banked $608 million from an initial public offering in New York Thursday, making founder and Chief Executive Officer Ye Guofu's stake of about 65% -- held with his wife -- worth more than $4 billion, according to the Bloomberg Billionaires Index.

Date: A9862C0E6E1BE95BCE0BF3D0298FD58B
Twitter: @YahooFinanceCA
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Public safety a big part of $17.3M budget increase | Business News | csbj.com

Pam Zubeck is a graduate from Emporia State University. She worked at the Tulsa Tribune before coming to Colorado Springs, where she spent 16 years at the Gazette and in 2009 joined Colorado Publishing House.

Publisher: Colorado Springs Business Journal
Author: Pam Zubeck
Twitter: @CSBIZJournal
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You Can Use a Crisis to Build Helpful Money Habits | Business | kenoshanews.com

While the long-term economic effects of the pandemic are yet to be fully realized, you may have noticed one positive trend in the short term: For once, your debt may have dropped.

Credit card balances fell by $76 billion April through June, the steepest decline on record, according to an analysis by the Federal Reserve Bank of New York. Research by NerdWallet backed that up, finding that credit card balances carried from one month to the next dropped 9.15%, or more than $600 per household with this type of debt. Overall household debt shrank by nearly $1,000 among households carrying any type of debt in the same period.

Publisher: Kenosha News
Author: Amrita Jayakumar
Twitter: @Kenosha_News
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How the budget can grow your small business

Ison, who started the company three years ago, says: "We are a good example of a technology business that has developed solutions and is growing to the next stage. We need to commercialise our intellectual property by scaling up and growing globally."

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A key incentive will be the research and development incentives that allow companies with total annual turnover of less than $20 million a tax offset at 18.5 percentage points above the full company tax rate of 30 per cent.

Publisher: Australian Financial Review
Date: 2020-10-08T13:00:00Z
Author: Duncan Hughes
Twitter: @FinancialReview
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Finland 2021 Budget—Potential Tax Measures
Twitter: @tax
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Microsoft Surface Laptop Go review: reverse engineering a budget computer – TechCrunch

It is, without a doubt, light. It's certainly lighter than the MacBook Air I also packed for the trip, at 2.45 pounds to the Apple device's 2.8. It doesn't sound like a ton, but when you're devoting eight hours to hiking up and down mountains, every fraction of a pound makes a big difference to your lower back. And while (sadly) I don't hike every day, lugging around a heavy laptop can really do damage over time.

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The company's attempts to lure creative professionals away from Apple coexist with its exploration of budget devices. The Laptop Go firmly falls within the latter category. Following in the lines of the Go, the device seeks to answer the question of whether the hardware principles it has spent years developing across the Surface line can be applied to a budget device.

Publisher: TechCrunch
Date: 2020-10-14 11:37:35
Author: Brian Heater
Twitter: @techcrunch
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Editorial: Put customers first in Virginia's broadband future, not 'cable companies' | Editorial

Members of the House of Delegates participated in a virtual committee meeting in late August. The General Assembly has leaned on reliable internet access to facilitate virtual meetings during COVID-19.

Is the carousel of General Assembly budget conversations coming to an end? It took almost as much time as a normal 60-day session, but after weeks of negotiations, The Times-Dispatch reported on Wednesday that a two-year spending agreement was reached.

Publisher: Richmond Times-Dispatch
Twitter: @RTDOpinions
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