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Business leaders discussed the economic outlook for 2023.(MGN) HARTFORD, CT (WFSB) – Business leaders in Connecticut looked ahead to what the economy has in store for 2023. The Connecticut Business and Industry Association held its economic outlook summit in on Thursday. It discussed inflation, COVID-19 pandemic-related challenges to business, and a labor shortage. Avelo Airlines’ CFO Hunter Keay and Gov. Ned Lamont were keynote speakers at the event. Lamont highlighted some of the challenges faced by both the business community and the people they employ. He laid out his top priorities for moving the state’s economy forward this year. “We have not built housing in this state for an awful long time and we’re paying a price for that right now,” he said. “I can’t grow the workforce unless there’s a place for the people to live. These are often single people. They’re not looking for two acres and a big house. They’re looking for a place they can get started.” Lamont also said businesses have been affected by inflation, energy prices, and the war in Ukraine. He said he wants to improve quality of life for workers in Connecticut and outlined more childcare and workforce re-training programs among […]

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A logo of Fujitsu Ltd. is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai HONG KONG/TOKYO, Jan 19 (Reuters) – Fujitsu Ltd (6702.T) has launched an auction process for its listed air-conditioning manufacturing business Fujitsu General Ltd (6755.T) with initial bids due on Friday, people with knowledge of the matter said. The sale is expected to attract interest from multiple private equity firms and strategic investors, said the people, who declined to identified as the talks are private. Lazard Ltd (LAZ.N) is advising Fujitsu General and UBS Group AG (UBSG.S) is advising Fujitsu, two of the people said. Fujitsu General, with 390 billion yen ($3 billion) market value as of Thursday, expects its operating profit to more than double to 18 billion yen in the year ending this March. UBS declined to comment. Fujitsu General could not be reached for immediate comment out of office hours. Lazard did not immediately respond to a request for comment. Fujitsu has said it plans to sell its 42% stake in Fujitsu General, as the Japanese electronics conglomerate accelerates a business overhaul. A Fujitsu spokesperson said the company […]

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Use these tips to find the right balance of debt and navigate financial leverage to your advantage. Opinions expressed by Entrepreneur contributors are their own. The average small business owner today has nearly $200,000 in debt . While financial leverage is often an essential way to grow a small or medium-sized business, you need to be careful about how much debt you take on. As CEO of Wealth Stack, a company specializing in helping veteran business owners build an optimal capital structure and access the right kind of capital, I see CEOs and CFOs increasing their debt ratios without rhyme or reason. As part of my one-on-one with select CEOs, I often outline a series of questions that can help business owners determine how much debt they should take on. Typically, this looks like asking yourself, "Do we have enough insight into our tax situation to be confident about the after-tax cost of debt? What are our strategic goals, and how might debt constrain our ability to achieve them? How much debt can we comfortably service without putting strain on our cash flow?" By considering these factors, companies can create a debt ratio that is both sustainable and advantageous. […]

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The use of Federal Home Loan Bank advances to offset crypto deposit losses has raised questions about banks’ reliance on the quasi-governmental funding mechanism for liquidity. La Jolla, Calif.-based Silvergate Bank and New York-based Signature Bank, arguably the two traditional banks with the greatest exposure to the digital asset industry, have both tapped Home Loan Bank advances following the collapse of the cryptocurrency exchange FTX. Of the two, Silvergate, which has pivoted the bulk of its operations toward digital assets during the past decade, was more significantly impacted by the volatility in the wake of FTX’s demise. The bank received $4.3 billion in advances from the Federal Home Loan Bank of San Francisco in the fourth quarter of 2022 to offset $8.1 billion of drawn down deposits . Advances now account for more than 60 percent of Silvergate’s wholesale funding.

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Treasury Secretary Janet Yellen, center, with Speaker of the House Nancy Pelosi, D-Calif., and … [+] CQ-Roll Call, Inc via Getty Images In what seems to feel like Groundhog Day every time we have a divided legislature, the federal government will hit its borrowing limit today, and increasing it will require Congressional approval. The first two weeks of the 118th Congress have produced signs that lawmakers could put the U.S. economy and small businesses in danger with theatrics. We have already seen House Republicans challenging their own party in electing a Speaker of the House and advancing bills that have little chance of passing the Senate. The more extreme conservative wing of the House Republicans are now trying to use the serious issue of raising the debt limit to drive concessions from their moderate Republican and Democrat counterparts. Trying to reach a compromise is good, but holding the US economy hostage is not. On January 13, U.S. Department of Treasury Secretary Janet Yellen sent a letter to Congress saying the federal government will run out of money on January 19 if the debt ceiling is not raised. Republicans have said they will not raise the debt limit ceiling without […]

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The environmental, social and corporate governance investment trend is booming, but it has also become a big distraction for business leaders. Is E.S.G. talk becoming a distraction?Arnd Wiegmann/Reuters Corporate leaders open up about E.S.G. At a cocktail party this week in Davos, one executive told DealBook something he — and most of the attendees at the World Economic Forum — would most likely never say in public: “I hope E.S.G. just goes away.” The executive, whose company is involved in the carbon industry, clarified that he still believes that it is vital to focus on climate, but that environmental, social and corporate governance — as the business approach is formally known — has become too broad and distracting. He’s just one of many executives who have talked to DealBook about coming to terms with how politically charged E.S.G. has become, and about how to deal with it. Have executives overpromised on E.S.G.? Fixating on lofty goals, without delivering on actions, has made business leaders vulnerable to a backlash, executives said. As evidence, some point to BlackRock’s Larry Fink, one of the earliest and most vocal proponents of E.S.G., saying he’s trying to “ change the narrative ” after taking […]

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Crowdsource Innovation After three years of economic and social disruption, we may have entered a new business era dictated by radical changes and systemic challenges. Those that succeed in a consistently tumultuous environment will be those who move into and create new growth opportunities and new businesses. Every sector is ripe for new business building and those fuelled by innovation and backed by insights will likely be the ones who are the most successful. In volatile times, many organizations constrict, cut and generally hunker down to make it through unpredictable economic periods. Given the past three years of continuous economic and social disruption, we may have entered a new business era dictated by radical changes and systemic challenges. In this new environment, efficiency measures alone won’t help businesses survive or grow. Those that succeed in a consistently tumultuous environment will be those that boldly move into – and create – new growth opportunities and new businesses. The winners will be those who have heard the saying “what got you here won’t get you there” (thank you, Marshall Goldsmith ) and will leverage and change their organizations to actually get there. Established companies that create successful new ventures have the […]

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This article is from the free weekly Barron’s Tech email newsletter. Sign up here to get it delivered directly to your inbox. Hidden Tax. Hi everyone. Apple AAPL –0.23% ‘s product launches this week bring an old story back to the forefront. Apple charges nosebleed markups for its Mac upgrades, specifically around memory and storage. The policy should be revisited—consumers deserve better.

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By Prakriti Deuja Arlington loves to add sweetness to its nonprofit and small business community, and OpenGrants is the box of chocolates we’ve all been looking for. And, thanks to BizLaunch, this sweet treat is free of charge to ALL users. With three dominant and dynamic databases already in stock, adding OpenGrants only further candy-coats the data Arlington offers. OpenGrants, a grant finding database, is an all-in-one platform that helps you find grant opportunities across the nation. A tool that is free easy to use with a simple login you create, the dashboard is user-friendly and catered completely to you. The way it works? Fill out some information about yourself and your nonprofit or business, and grants will come find you! BizLaunch: PrakritiDeuja Once your dashboard is configured and complete, you can easily access unique features of the resource. From finding a grant writer to assist in making the grant writing process easier to creating an organized panel with your projects consolidated into one page, this database is one that was created with you in mind. Used (and loved!) by more than 12,000 grant-fingers and experts, OpenGrants has created an effective and personable hub for start-ups, small businesses, and […]

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Graphic by Lori Deaton [ Regarding “Buncombe Lags on Goals for Resident Well-being,” Dec. 14 , Xpress:] Many years ago, I worked in emergency housing in Clearwater, Fla. I saw firsthand the benefits of Section 8 housing. This was not a free ride but oftentimes just the assistance people needed to overcome the sometimes almost impossible hurdles of moving from houseless to housed. Being housed makes a tremendous difference when looking for employment, creating a stable base for school assignments and the beginnings of being part of a community. These are just a few of the benefits. Whatever the source, I believe we owe all our citizens an opportunity to be housed. — Bernise A. Lynch Swannanoa

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