SMALL BUSINESS

Chicago Pot Cartel by Pritzker, Wrigley Families Alleged in Suit

The legal marijuana business in Illinois is being controlled by a state-protected “Chicago cartel” that includes companies linked to the wealthy Pritzker, Wrigley and Kovler families, according to a lawsuit filed by a group called True Social Equity in Cannabis.

By Steve Stroth and Tiffany Kary | BloombergApril 19, 2022

Infowars Bankruptcy Tactic Tips Scale Against Sandy Hook Victims

Relatives of children killed in the 2012 Sandy Hook massacre could have a harder time collecting from far-right radio host Alex Jones under the legal strategy being employed by the conspiracy theorist.

By Jeremy Hill, Rachel Butt and Steven Church | BloombergApril 19, 2022

Citigroup Sees ‘Significant Interest’ as Mexico Sale Talks Kick Off

Citigroup Inc. has begun the sales process for its consumer, small-business and middle-market banking divisions in Mexico, though an initial public offering remains on the table.

By Jenny Surane | BloombergApril 17, 2022

China’s Central Bank Likely to Cut Interest Rate for Second Time

China’s central bank is expected to cut its key policy interest rate for the second time this year on Friday and reduce the reserve requirement ratio within days to help bolster a faltering economy under strain from Covid lockdowns.

By Bloomberg News | BloombergApril 15, 2022

U.S. Businesses Get Hit With Record Numbers of Disability Lawsuits

Some serial plaintiffs file dozens of cases asking for monetary settlements, and authorities in California have started to crack down.

By Amy Yee | BloombergApril 14, 2022

China’s Central Bank Likely to Cut Interest Rate for Second Time

China’s central bank is expected to cut its key policy interest rate for the second time this year on Friday and reduce the reserve requirement ratio within days to help bolster a faltering economy under strain from Covid lockdowns.

By Bloomberg News | BloombergApril 13, 2022

U.S. Small Business Optimism Slides to Almost Two-Year Low

Sentiment among U.S. small businesses slid for a third month in March to the one of the lowest levels of the pandemic as soaring cost pressures induced the worst economic outlook on record.

By Vince Golle | BloombergApril 12, 2022

Investment Chief Gets 12 Years for Running $100 Million Scam

The chief investment officer of a New York firm specializing in trade finance was ordered to spend 12 years in prison for defrauding clients of more than $100 million.

By Chris Dolmetsch | BloombergApril 12, 2022

S. Korea Nominates Choo as Finance Minister With Prices in Focus

South Korea’s President-elect Yoon Suk Yeol nominated Choo Kyung-ho to be the next finance minister as the leader assembles his economic team to battle accelerating inflation and shore up the economy.

By Sam Kim | BloombergApril 12, 2022

Recession Risks, Small-Business Blues, Pricey Breakfast: Eco Day

Welcome to Tuesday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

By Alessandra Migliaccio | BloombergApril 12, 2022

Battered Small-Cap Stocks Are Poised for a ‘Relief Rally,’ Wells Fargo Says

U.S. small-cap stocks have been down so long it looks like up to Wells Fargo.

By Jessica Menton | BloombergApril 12, 2022

SoftBank Leads $185 Million Round in Pax8 at $1.7 Billion Value

SoftBank Vision Fund has led a $185 million investment in Pax8 Inc. that values the company at $1.7 billion.

By Katie Roof | BloombergApril 11, 2022

New York Pot Companies Get New Tax Break From State Budget

New York’s marijuana producers and distributors are poised to get a tax break in the state budget that could give them an edge over pot companies in the rest of the U.S.

By Keshia Clukey and Tiffany Kary | BloombergApril 7, 2022

Entrepreneurs Thrive in Pandemic That Was Supposed to Crush Them

It was supposed to crush small businesses. Instead, the pandemic seems to have incubated them in the U.S.

By Alex Tanzi | BloombergApril 7, 2022

Harris hails $4.7 billion corporate pledge for D.C.-area minority firms

The commitment is aimed at “inclusive growth" practices and was convened by the Greater Washington Partnership,

By Teo ArmusMarch 30, 2022

Dry cleaners are beginning to close as the pandemic drags on

On one street in Northern Virginia, three dry cleaners have closed during the pandemic, an omen of what may be to come for an industry filled with independent, immigrant-run storefronts.

By Teo ArmusFebruary 22, 2022

Some Georgetown businesses want change inside the nonprofit that runs its business improvement district

Small businesses push to reform the powerful nonprofit organization that runs Georgetown business improvement district (BID). Critics say the BID has operated for too long without transparency and accountability and has offered a questionable return on the taxes members must pay into it.

By Fredrick KunkleNovember 26, 2021

Trump’s new social media SPAC is soaring. Also, what is a SPAC?

So-called “blank-check” companies have skyrocketed in popularity in recent years, but they’ve also drawn regulatory scrutiny and the ire of scorned investors.

By Hamza ShabanOctober 22, 2021

How a mythical backwoods monster saved a struggling West Virginia glass company

The pandemic shuttered Blenko Glass Company. Then a limited edition of figurines brought one of the most profitable years in decades.

By Molly BornMay 6, 2021

Black-owned distilleries are breaking barriers that once surrounded the Kentucky bourbon industry

'Bourbon was considered a premium product — and I’m not sure that a premium product was necessarily marketed toward African Americans.'

By Josh WoodMarch 26, 2021