Business Update – December 13, 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Small businesses hold the key to supply chain resilience
Small and midsize businesses play an important role in supply chains, representing 44% of US private employment and most of the country’s STEM jobs. They also represent an enormous opportunity to improve supply chain resilience while increasing overall competitiveness.
A “near-limitless, safe, clean” source of energy
Researchers at the Department of Energy have reportedly ignited 2.5 MJ of fuel, releasing a massive burst of energy. It’s considered a breakthrough in nuclear fusion technology and could lead to revolutionary developments in the clean energy space.
Dogecoin plunges as crypto continues its fall
The crypto industry’s largest meme coin, Dogecoin, fell over 9% at the beginning of the week, trading at around $0.088. Its plunge was the largest of several cryptocurrencies, which all started the week with a tumble.
US worker productivity is at its lowest in decades
The productivity of American workers has fallen for three consecutive quarters, the most significant decline since 1947, according to the Bureau of Labor Statics. One expert says the decline was inevitable, but COVID sped it up.
End of zero-Covid policy in China welcomed, but experts fear the worst is yet to come
Economists have welcomed Beijing’s quick dismantling of zero-Covid controls. However, there is growing concern about the toll isolation and frequent harsh lockdowns will have on the country’s economy and people.
WTO finds that Trump tariffs broke global trade rules
The World Trade Organization has found that US tariffs on steel and aluminium imports imposed by Trump in 2018 violated global trade rules. Washington stated that we stand by the tariffs.
The blue “verified” check is back on Twitter, but nobody seems to know what it means
It again costs money to have a blue tick and even more if you’re using Twitter on an Apple device. Some users also have a message that appears if the tick is pressed, saying the account is a “legacy verified account” and “may or may not be notable”.
New procedures for manufacturers and sellers of clean vehicles
The Treasury Department and Internal Revenue Service issued a Revenue Procedure setting out key processes for manufacturers and sellers of clean vehicles. Details can be found here.
10 key ideas for your 2023 financial planning
The economic landscape will remain unpredictable for the foreseeable future. Still, there are plenty of ways to ensure our finances are robust enough to deal with whatever the next 12 months bring.
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