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State tax receipts plummeted by $1.5 billion, or 17.3 percent, in June compared to the same time a year ago as New York continues to suffer from the coronavirus pandemic, according to a new report. “As steps toward an economic reopening continue, state tax revenues remain far short of pre-pandemic levels,” said state Comptroller Tom …
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Bennie’s Thai Cafe is about to become the latest restaurant casualty of the coronavirus in Lower Manhattan. The popular eatery at 88 Fulton St. is calling it quits on July 26 — the 24th anniversary of its opening in 1996. “We made it through the dark days of 9/11, the recession and Superstorm Sandy, but …
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A third of the world’s small businesses slashed jobs as the coronavirus ate into their sales and forced many to shut down, a new survey shows. The figures released Tuesday detail a bleak landscape for small merchants around the globe as they grapple with COVID-19 and the massive economic crisis it has caused. Some 33 …
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Pornhub says it wants to help ailing merchants expose themselves to a whole new audience. The giant smut site is giving away $300,000 worth of free advertising — a move it hopes will stimulate small businesses that have been beaten down by the coronavirus crisis. In a competition launched Tuesday, Pornhub will select 100 small …
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And they’re off — to a government bailout! Five of New York’s state-created horse-racing bookie offices with its Off-Track Betting Corporation are raking in millions of dollars apiece in federal loans meant to keep small businesses afloat amid the coronavirus, The Post has learned — and critics are crying foul. The regional OTBs of Nassau …
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The US mattress business has bounced back after months of shutdowns from the coronavirus pandemic kept customers away. Sales at Holder Mattress Co. were up about 30 percent last month, compared with a year ago, after the company started letting people back into its two northern Indiana stores, said Lauren Taylor, president and granddaughter of …
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A large number of small US businesses could fail during the coronavirus recession, the Federal Reserve said on Friday, slowing recovery and creating lasting damage to the world’s largest economy. “The nature of the economic recovery that follows the COVID-19 crisis will depend in part on the survival of small businesses,” the Fed said in …
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US property and casualty insurers have cast the coronavirus pandemic as an unprecedented event whose massive cost to small businesses they are neither able nor required to cover. The industry has warned it could cost them $255 billion to $431 billion a month if they are required, as some states are proposing, to compensate firms …
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A technical snafu in a US government system caused many small businesses to receive loans twice or more under a federal aid program to help businesses hurt by the COVID-19 pandemic, nearly a dozen people with knowledge of the matter said. The money mistakenly handed out could amount to hundreds of millions of dollars that …
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Federal Reserve Chair Jerome Powell acknowledged Friday that the Fed faces a major challenge with the launch in the coming days of a program that will lend to companies other than banks for the first time since the Great Depression. The Fed’s Main Street Lending is geared toward medium-sized companies that are too large for …
State tax receipts plummeted by $1.5 billion, or 17.3 percent, in June compared to the same time a year ago as New York continues to suffer from the coronavirus pandemic, according to a new report. “As steps toward an economic reopening continue, state tax revenues remain far short of pre-pandemic levels,” said state Comptroller Tom …
