Some businesses opening, expanding despite hurdles
FORT LAUDERDALE, Fla. — The odds of success with a new business are always precarious. Few expect to turn a profit in the first year or two. Add the challenges of a devastated economy and constantly changing rules for operating in a pandemic, and survival is even tougher. Despite that, some new businesses are forging ahead with openings or expansions in 2020, finding ways to make it work amid unprecedented uncertainty. Proof BBQ in Cleveland was set to open in March, just as the pandemic was forcing businesses to shut down. The restaurant pivoted to takeout before being forced to close altogether as cases spiked in July. But now they’re back, serving takeout pizza on one side and barbecue on the other.
Awash in red ink: US posts record $3.1T 2020 budget deficit
WASHINGTON — The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the Coronavirus pandemic cut revenues and sent spending soaring. The Trump administration reported Friday that the deficit for the budget year that ended Sept. 30 was three times the size of last year’s deficit of $984 billion. It was also $2 trillion higher than the administration had estimated in February before the pandemic hit. It surpassed the previous record of $1.4 trillion set in 2009 when the Obama administration was spending heavily to shore up the nation’s banking system and limit the economic damage from the 2008 financial crisis.
Twitter CEO says it was wrong to block links to Biden story
SAN FRANCISCO — Twitter CEO Jack Dorsey says the company was wrong to block weblinks to an unverified political story, a move that had prompted cries of censorship from the right. Dorsey tweeted Friday that “straight blocking of URLs was wrong” and the Twitter has updated its policy and enforcement to fix it. Dorsey was weighing in after an executive at the social media company announced changes to its policy on hacked content.