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A small-dollar business lending scheme finds a niche at Huntington. American Banker Newspaper. 11.22.24

Huntington Bancshares' Lift Local small-business lending program started small, but after four years, it's become one of the $201 billion-asset company's more popular product offerings. Executives at Huntington Bancshares said the $201 billion-asset company's 4-year-old Lift Local Business lending program has far exceeded their expectations.  The numbers tell the story. Huntington launched Lift Local in October 2020 with a $25 million lending budget. It folded the program into the ambitious five-year, $40 billion community development strategy it unveiled in June 2021, boosting its lending threshold to $100 million. Last month, Huntington disclosed Lift Local has made nearly 1,900 Small Business Administration loans totaling $133 million.   And while Huntington has made good on more than 75% of the community strategy's $40 billion overall commitment, there appear to be no plans to wind down Lift Local. "We're continuing to invest in the number of people tha...
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Le point de vue d'un jeune Français sur les élections américaines : pourquoi elles sont importantes au-delà des États-Unis. Emeric Vuattier, ESC AMIENS, Amiens, France

 A Young French Perspective on the US Election: Why It Matters Beyond America L'élection américaine est l'un des événements les plus suivis au monde. Pourtant, en tant que jeune Français, je suis particulièrement captivé par son impact. La France et les États-Unis sont étroitement liés par une histoire commune, des alliances de défense, le commerce et des valeurs partagées. En observant cette élection à distance, je suis frappé par l'influence de la politique américaine sur l'avenir de mon pays—et même sur ma propre vie. Climate Change and Environmental Responsibility L'une des problématiques les plus urgentes pour ma génération est le changement climatique. En France, nous avons adopté des politiques environnementales ambitieuses, comme l'Accord de Paris, conçu sur notre sol. Mais en tant que grand émetteur, les États-Unis ont une influence majeure sur l'agenda climatique mondial. Lorsque les dirigeants américains choisissent de prioriser, d'ignorer ou ...

Perspective on the US Election from France. Emeric Vuattier, ESC AMIENS, Amiens, France

 Watching the Election in the US as Someone from France: Hoping for the Best in an Uncertain World As a young person from France watching the US election unfold, I can’t help but feel a mix of hope and apprehension. We’re all sitting on the edge of our seats, waiting to see what the future holds—not just for Americans but for all of us. These elections seem to affect everything: climate action, global peace, social justice, and even the daily lives of people far beyond US borders. It’s strange to think that a decision happening thousands of miles away can make waves right here, in France. In some ways, it’s a feeling of powerlessness. No matter what happens, we’re left to adapt, to adjust to the next set of policies, the next set of global priorities. Part of me wonders if things will ever settle into a future where we can all work together with some stability. For now, though, it feels like we’re holding our breath and hoping for the best. Hoping for Leadership on Climate, Even If...

October, 2024 increase in Producer Price Index (PPI): Implications for minority-owned businesses

The October increase in the Producer Price Index (PPI) for final demand has several notable implications for minority-owned businesses, particularly as it impacts costs, profit margins, and strategic planning. Here’s a breakdown of the key factors affecting these businesses:  1. Rising Service Costs The 0.3% increase in final demand services in October, especially within services excluding trade, transportation, and warehousing, suggests rising operational expenses for businesses that rely heavily on service-based inputs. Minority businesses in sectors such as healthcare, retail, and portfolio management, where prices rose sharply (3.6% for portfolio management, for instance), will likely face cost pressures that may squeeze profit margins unless they pass these costs onto customers. This challenge may be compounded for businesses without substantial pricing power or a strong customer base, making it critical for them to carefully evaluate and potentially renegotiate supplier contr...

트럼프 재선이 한국의 외교와 경제에 미치는 영향. 인천대학교 박유진

 지난 11월 5일에 있었던 선거를 통해 당선된 트럼프 행정 2기가 한국에 미치는 영향을 분야별로 알아보고자 한다. 한국에서는 당선 결과와 함께 다양한 분석이 나오는 상황인데 우리나라는 수출/통상, 에너지, 첨단산업, 금융시장, 대북정책 등 한국경제의 전방위에 걸쳐 큰 영향이 일어날 것으로 보인다.  (source : https://www.korcham.net/nCham/Service/Economy/appl/KcciReportDetail.asp?SEQ_NO_C010=20120939734&CHAM_CD=B001 ) 대한상공회의소에 따르면, 가장 유력한 시나리오는 ‘보편적 관세 도입( T ariff on All Imports)’,‘화석연료 부활( R eturn to Fossil Fuel)’,‘첨단산업 불확실성 증가( Uncertainties in High-Tech Industry)’,‘통화정책 개입( M onetary Policy Interference)’,‘북-미 정상간 개인 외교( Personal Diplomacy)가 있다. 이를 위한 사전 대비가 필요한 상황이라고 생각이 된다.  Tariff on All Imports 한국은 2023년 미국을 상대로 작년 444억 불, 올해 상반기에만 287억 불의 무역수지 흑자를 기록한 만큼, 한·미 FTA 등 기존 무역협정에 대한 재협상 시도 가능성이 크고, 만약 트럼프의 상호무역법이 통과한다면 동맹, 비동맹 구분 없이 우리나라와 같은 무역흑자국에 대한 압박 및 무역장벽이 높아질 것으로 생각된다.  Return to Fossil Fuel 미국 내 화석연료의 시추 허용’ 등 화석연료 공급 확대에 따라 에너지 가격은 낮아지겠으나, 태양광·풍력 등 친환경 에너지 업계의 불확실성은 고조될 것으로 보인다. 이로써 에너지를 주로 수입하는 한국의 에너지 수입 비용은 절감될 것이나 한국의 친환경 에너지 산업 분야는 타격을 입을 것이다.  Uncertainties in High-Tech ...

Post Election Diplomacy and Economics in South Korea. Yujin Park, Incheon National University.

The recent US Presidential election on November 5th, which will lead to Trump’s second term, has raised concerns in South Korea across multiple sectors, including trade, energy, high-tech industries, financial markets, and diplomatic policies. In the week following the presidential election, various analysts predict that the new administration will have a significant impact on South Korea’s economy. According to the Korea Chamber of Commerce, the most likely scenarios include the introduction of a “Tariff on All Imports,” a “Return to Fossil Fuel,” an increase in “Uncertainties in the High-Tech Industry,” “Monetary Policy Interference,” and “Personal Diplomacy” between North Korea and the United States. I believe South Korea must prepare in advance for these changes. Tariffs on All Imports: Given South Korea’s trade surplus with the United States—$44.4 billion last year and $28.7 billion in just the first half of this year—there are strong possibilities for the renegotiation of existi...

October 2024 Consumer Price Index (CPI) presents a mixed picture for minority-owned businesses.

The October 2024 Consumer Price Index (CPI) figures present a mixed picture for minority-owned businesses, affecting their operational costs, consumer demand, and potential growth. With an overall 0.2% monthly increase and a year-over-year rise of 2.6% in the CPI, minority businesses are navigating both stable and volatile cost areas in a nuanced inflationary environment. Here’s a breakdown of implications:  1. Shelter Costs Impact on Business Costs and Consumer Spending    - Shelter, which increased by 0.4% in October and contributed to over half of the overall monthly CPI increase, remains a significant pressure point. Rising shelter costs impact minority business owners directly through increased rental or mortgage payments for business spaces. This can squeeze profit margins, particularly for small retail stores and service-based businesses that rely on leased spaces in urban areas.    - For consumers, higher shelter expenses may constrain disposable income,...