How do you get a loan when your business is in the ‘wrong’ part of town?

A study has found that businesses in lower-income and minority areas received surprise a smaller share of bank loans than those in richer, whiter areas Want to improve your relationship with your banker? The answers easy: just move your business to a nicer part of town. Unfortunately, thats the very real problem faced by many small businesses around the country who are located in lower-income or minority areas. This conclusion was reached in a told the Woodstock Institute. Beard cannot obtain a traditional bank loan so her new business, Marys Master Cleaning Service, can bid on contracts and hire formerly incarcerated people who need jobs. Shes certainly not alone. Ive been my own bank. No one should have to do …

‘Coal is over’: the miners rooting for the Green New Deal

An area desperately in need of an economic transformation looks to new promise after Trumps prove empty Set in a wooded valley between the Tug Fork river and the Mate creek, Matewan, West Virginia was the site of the forecast conducted in 2018 by the University of West Virginia estimates coal production will continue to decline over the next two decades. promises made by Donald Trump throughout his 2016 election campaign that he would bring those jobs back. A lot of guys thought they were going to bring back coal jobs, and Trump stuck it to them, said 69-year-old Bennie Massey, who worked for 30 years as a coal miner in Lynch, Kentucky. The town was at the about 500,000 …

Brexit is becoming the nightmare business has long feared

London (CNN Business)Britain is moving closer to the nightmare Brexit scenario businesses have long feared. Business continues to push back, arguing that a rupture with Britain’s biggest export market would be deeply damaging. A major lobby group warned that a disorderly Brexit would disrupt almost every part of the UK economy, and French carmaker PSA said new trade barriers could doom its factory near Liverpool. Investors are increasingly concerned that Johnson “actually wants to go through with a hard Brexit, potentially even as his Plan A,” said Esther Reichelt, a foreign exchange strategist at Commerzbank. Taking a hard line Business groups have long cautioned that a messy Brexit would be a disaster, disrupting the supply chains that run across Europe …

Air France could face trial over 2009 crash of Rio-Paris flight

Prosecutors say airline knew of problems with Airbus A330 plane that crashed, killing 228 people French prosecutors have recommended that Air France face trial for manslaughter and negligence over the 2009 The pilots were confused and unaware they had stalled the plane which was plummeting until seconds before it plunged into the ocean at around 200km/h.

BMW unveils electric Mini as it charges into new era

New model will have list price of 24,400, with first deliveries expected in early 2020 Six decades after the original Mini first rolled off the production line in Oxford, its owner BMW has unveiled a new electric version and help the German carmaker meet an industry awaiting Brexit clarity. The plant produced 234,501 Mini and Mini Clubman cars in 2018, an increase of 4.8% year on year. While the original Mini was built by the British Motor Corporation in response to fuel rationing following the Suez crisis of 1956, the latest version will help BMW, which relaunched the Mini brand in 2000, Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk The launch …

Trump fact check: is the Chinese economy really ‘going down the tubes’?

The president reckons Beijing will jump at a trade deal because the countrys grow is slowing. Martin Farrer takes a closer look Donald Trump has claimed ahead of his crunch meeting with Xi Jinping that Chinas economy is going down the tubes and that Beijing is desperate to do a trade deal to avert a bigger slowdown. So is there any truth to the US presidents claims? 1. Its true that China is slowing a bit, but not much China has seen more than 30 years of spectacular growth. The countrys share of global manufacturing was close to zero in 1990 but today accounts for a quarter of the worlds factory output. The transformation has dragged hundreds of millions out …

Bosses pocket Trump tax windfall as workers see job promises vanish

AT&T, General Motors and Wells Fargo vowed to use tax cuts to create jobs. In fact, they did the opposite Stephen Smith worked at an AT&T call center in Meriden, Connecticut, for over 20 years before the giant telecoms company announced it was closing the citys three call centers in February 2019. At 46 years old, Im looking for a new job, Smith said. They basically told us we either need to move south or lose our job. It was out of the blue. We had no idea. Smith and about 90 of his colleagues were offered severance packages or the option to relocate to Georgia or Tennessee. But for most workers who have spouses with their own careers, elderly …

MedMen expands its cannabis retail empire to Florida

San Francisco (CNN Business)MedMen Enterprises, one of the larger cannabis dispensary operations in the US, is zeroing in on Florida as it continues its US expansion. In 2017, Florida began regulated medical marijuana sales in which doctors could authorize or recommend cannabis for patients with certain diseases and ailments. The state restricted the number of businesses licensed to sell to those patients. MedMen is one of 14 licensed operators in the state, each of which can open up to 35 dispensaries across Florida. The 35-store cap is slated to expire in April 2020. Florida has taken steps this year to loosen its medical marijuana laws, including allowing for the sale of smokable cannabis and increasing the number of licensed operators …

Global markets rocked as US-China trade and tech rift deepens

Shares fall sharply in Asia, Europe and North America in intensifying war of words The deepening trade and technology war between the US and China has sent global stock markets sharply lower and prompted a warning from the IMF of the increasing risks to the global economy. Shares fell sharply in Europe and North America on Thursday as investors took fright at the the intensifying war of words between Washington and Beijing, poor news on the American economy, and political chaos in Britain. Selling continued in Asia Pacific on Friday with the MSCIs broadest index of shares outside Japan down 0.2% to a fresh four-month low. It was on track for a third straight weekly loss. The Nikkei was off …

No women anything’: Trump Fed pick Stephen Moores list of misogynistic remarks

Economic commentator and former Trump campaign adviser has a long history of making offensive comments about women Donald Trumps attempts to fill the vacancies on the Federal Reserve board are not going very well. On Monday, Herman Cain, a pizza mogul, long history of making misogynistic statements. A 2002 column of his for the National Review, for example, sets out his views on the role women should play in mens college basketball. Heres the rule change I propose: No more women refs, no women announcers, no women beer venders, no women anything. Like all rules, this one has an exception: Women are permitted to participate, if and only if, they look like Bonnie Bernstein, Moore wrote. He also suggested the …