many dry months before touring and live events return at anything like prepandemic levels.

The grant program also offers help for Broadway theaters, performing arts centers and even zoos, which share many of the same economic struggles.

The Pablo Center at the Confluence, in Eau Claire, Wis., for example, was able to raise about $1 million from donations and grants during the pandemic, yet is still $1.2 million short on its annual fixed operating expenses, said Jason Jon Anderson, its executive director.

“By the time we open again, October 2021 at the earliest, we will have been shuttered longer than we had been open,” he added. (The center opened in 2018, at a cost of $60 million.)

The thousands of small clubs that dot the national concert map lack access to major donors and, in many cases, have been surviving on fumes for months.

Stephen Chilton, the owner of the 300-capacity Rebel Lounge in Phoenix, said he had taken out “a few hundred thousand” in loans to keep the club afloat. In October, it reopened with a pop-up coffee shop inside, and the club hosts some events, like trivia contests and open mic shows.

“We’re losing a lot less than we were losing when we were completely closed,” Mr. Chilton said, “but it’s not making up for the lost revenue from doing events.”

The Rebel Lounge hopes that a grant will help it survive until it can bring back a full complement of concerts. And if its application is not accepted?

“There is no Plan B,” Mr. Chilton said.

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Yellen Pushes for Global Minimum Tax Rate on Companies: Live Updates

The New York Times found. Some corporations are reopening offices in the spring, and many are saying they will remain flexible, staging returns over several months and planning to allow some workers to continue to work from home. As nerve-racking as it was last year to be abruptly torn from their desks, many people find the prospect of returning distressing.

Here is what some of the country’s biggest companies are telling their workers.

IBM, which employs about 346,000 people, hasn’t set a strict timeline for when its U.S. workers will return to the office. It expects about 80 percent of its employees to work with some combination of remote and office schedules, depending largely on role.

The bank, which has more than 20,000 office employees in New York City, has told employees that the five-day office workweek is a relic. The bank is considering a rotational work model, meaning employees would rotate between working remotely and in the office.

The consulting firm, which has about 284,000 employees, is set to open one office in each of its major cities in May, and all of its offices in September. Even when the offices are formally reopened, PwC will allow some workers, depending on their job, to work remotely at least part time.

Most of Walmart’s 1.5 million employees work at the retail giant’s stores, and a vast number have continued to go in to their workplace throughout the pandemic. It said on March 12 that it would start bringing workers back at its Bentonville, Ark., office campus no earlier than July. Its global technology employees will continue to work virtually “for the long term.”

At Wells Fargo, 60,000 employees have worked at bank branches and other facilities during the pandemic, but 200,000 more have worked remotely. The company told its staff in a memo last month that it had set a Sept. 6 return-to-office target and was “optimistic” that conditions surrounding Covid-19 vaccinations and case levels would allow it to keep it.

GameStop said it would sell additional stock, up to 3.5 million shares, to finance its move online retailing and to support its finances.
Credit…Carlo Allegri/Reuters
Shaundell Newsome of Small Business for America’s Future said changes were needed throughout the banking industry to improve outcomes for Black owners.
Credit…Bridget Bennett for The New York Times

The government’s central small business relief effort, the Paycheck Protection Program, has made $734 billion in forgivable loans to nearly seven million businesses. But minority-owned businesses were disproportionately underserved by the program, a New York Times analysis found.

“The focus at the outset was on speed, and it came at the expense of equity,” said Ashley Harrington, the federal advocacy director at the Center for Responsible Lending.

The aid program’s rules were mostly written on the fly, and reaching harder-to-serve businesses was an afterthought. Structural barriers and complicated, shifting requirements contributed to a skewed outcome, The New York Times’s Stacy Cowley reports.

In the program’s final weeks — it is scheduled to stop taking applications on May 31 — President Biden’s administration has tried to alter its trajectory with rule changes intended to funnel more money toward businesses led by women and minorities. But those revisions have run into their own obstacles, including the speed with which they were rushed through. Lenders, caught off guard, have struggled to carry them out.

“Historically, access to capital has been the leading concern of women- and minority-owned businesses to survive, and during this pandemic it has been no different,” Jenell Ross, who owns an auto dealership, told a House committee.

The United States is particularly important to the world economy because it has long spent more than it sells.
Credit…Scott McIntyre for The New York Times

The United States and its record-setting stimulus spending could help haul a weakened Europe and struggling developing countries out of their own economic morass.

American buyers are spurring demand for German cars, Australian wine, Mexican auto parts and French fashions. And many Americans have spent their stimulus checks on video game consoles, exercise bicycles or other products made in China.

The United States’ comparatively fast recovery involved a little bit of luck — new variants of the virus have just begun to push domestic infections higher — and a large policy response, including more than $5 trillion in debt-fueled pandemic relief, The New York Times’s Jeanna Smialek and Jack Ewing report.

“When the U.S. economy is strong, that strength tends to support global activity as well,” said Jerome H. Powell, the chair of the Federal Reserve.

But some hazards lurk. The slow pace of the European Union’s vaccination campaign will probably hurt its economy. Poorer and smaller countries, facing severely limited vaccine supplies and fewer resources to support government spending, are likely to struggle to stage an economic turnaround even if the U.S. recovery increases demand for their exports.

Chocolate is Britain’s second-largest food and drink export, after whiskey.
Credit…Tom Jamieson for The New York Times

Small British chocolate makers emphasizing ethically sourced ingredients and bespoke batches became big sellers in Europe in recent years but have been nearly impossible to find there since January, David Segal reports for The New York Times.

“We have customers complain to us all the time, ‘Why can’t I buy my favorite British chocolate?’” said Hishem Ferjani, the founder of Choco Dealer in Bonn, Germany, which supplies grocery stores and sells through its own website. “We have store owners with empty shelves.”

“We have to explain, it’s not our fault, it’s not the fault of the producer. It’s Brexit,” he said.

Chocolate is Britain’s No. 2 food and drink export, after whiskey, according to the Food and Drink Federation. Chocolate exports to all countries hit $1.1 billion last year, and Europe accounts for about 70 percent of those sales. In January, exports of British chocolate to Europe fell 68 percent compared with the same period the year before.

The trade deal struck late last year with the European Union has not saved British companies from a maddening, unpredictable array of time-consuming, morale-sapping procedures and from stacks of paperwork that have turned exporting to the E.U. into a sort of black-box mystery. Goods go in and there is no telling when they will come out.

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Minority Entrepreneurs Struggled to Get Small-Business Relief Loans

Of the 1,300 Paycheck Protection Program loans that Southern Bancorp made last year, many went to customers who had been turned away by larger banks, Mr. Williams said.

In a recent Federal Reserve survey, nearly 80 percent of small-business owners who are Black or of Asian descent said their companies were in weak financial shape, compared with 54 percent of white business owners. And Black owners face unique challenges. While owners from all other demographics told the Fed that their main problem at the moment was low customer demand, Black respondents cited a different top challenge: access to credit.

When Jenell Ross, who runs an auto dealership in Ohio, sought a Paycheck Protection Program loan, her longtime bank told her to look elsewhere — a message that large banks like Bank of America, Citi, JPMorgan Chase and Wells Fargo delivered to many of their customers in the program’s frenzied early days.

Days later, she obtained a loan from Huntington Bank, a regional lender, but the experience stung.

“Historically, access to capital has been the leading concern of women- and minority-owned businesses to survive, and during this pandemic it has been no different,” Ms. Ross, who is Black, told a House committee last year.

Community lenders and aid organizations took a shoe-leather approach to filling the gaps.

Last year, the American Business Immigration Coalition, an advocacy group, worked with local nonprofits to create a “community navigator” program that sent outreach workers to Black, minority and rural businesses in Florida, Illinois, South Carolina and Texas. They plowed through roadblocks, Whac-a-Mole-style.

Language barriers were common. Many business owners had never sought a bank loan before. Several didn’t have an email address and needed help creating one. Some hadn’t filed taxes; the coalition hired two accountants to help people sort out their financials.

“Our folks literally went door to door and walked people through the process,” said Rebecca Shi, the group’s executive director. “It’s time-consuming.”

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