Funding

Magazine Street businesses last minute Christmas gifts [Video]
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Small Business Funding

Magazine Street businesses last minute Christmas gifts [Video]

ARIELLE BRUMFIELD, WDSU NEWS. WELL, THE COUNTDOWN IS ON FOR CHRISTMAS. AND TONIGHT PEOPLE ACROSS OUR AREA ARE DOING THEIR LAST MINUTE SHOPPING. GOOD LUCK WITH THAT. A LOT OF ANXIETY. IM STILL EVEN WAITING FOR SOME PACKAGES TO ARRIVE. REPORTER JASMINE FRANKLIN IS LIVE FOR US ALONG MAGAZINE STREET, WHERE MANY SHOPPERS, JASMINE ARE GOING LOCAL, SUPPORTING MANY OF HER MOM AND POP BUSINESSES. YES, RANDY AND STELLA. WITH CHRISTMAS NOW JUST TWO DAYS AWAY, MANY SHOPPERS ARE TURNING TO LOCAL SMALL BUSINESSES AND THEY SAY THEIR GOAL IS TO SUPPORT SMALL BUSINESSES UP AND DOWN MAGAZINE STREET. IM DOING A WHOLE MAGAZINE STREET STRETCH. I DONT THINK ILL BE GOING TO THE MALL, BUT HOPEFULLY A LOT OF SMALLER BUSINESSES. DOZENS OF SHOPPERS LIKE SARAH MCKENDRICK SPENT THE DAY ALONG MAGAZINE STREET ON THE HUNT TO FIND LAST MINUTE PRESENTS TO GO UNDER THE TREE FOR THEIR LOVED ONES. I NEED TO FIND A GIFT FOR MY DAD. HAVENT BOUGHT HIM ANYTHING. AND THEN IVE BEEN TRYING TO GET MY MOM SOME STOCKING STUFFERS. THE HISTORIC STREET IS FILLED WITH RESTAURANTS, BOUTIQUES, AND ANTIQUE SMALL BUSINESSES LIKE NELSON BAY BEADS. THE BUSINESS TELLS WDSU THEY HAVE SEEN AN INCREASE IN FOOT TRAFFIC OVER THE LAST SEVERAL WEEKS, WITH LOTS OF CUSTOMERS IN THE HOLIDAY SPIRIT SEARCHING FOR SOMETHING SPECIAL. WEVE BEEN NOTICING AN UPWARD TREND IN SALES. SOME OF THE AFRICAN TRADE BEADS CO-OWNER JOSEPH BURBACH SAYS SHOPPERS HAVE BEEN PURCHASING A VARIETY OF ITEMS, INCLUDING KEYCHAINS, STONES AND BEADED JEWELRY. THE BEAUTY OF THE BEADS AND THE CHRISTMAS GIFTS IS THAT ITS SOMETHING THAT YOURE GOING TO KEEPSAKE THAT YOU CAN WEAR, YOU CAN CARRY THAT. YOU CAN REMEMBER THAT PERSON ALL THROUGH THE YEAR, NOT JUST DURING THE SEASON. NELSON BAY BEADS STOREFRONT SITS ALONGSIDE SLOWDOWN, ANOTHER SMALL BUSINESS THATS SEEN AN INFLUX IN SALES. OH YEAH, THE PAST COUPLE OF WEEKS HAVE BEEN CRAZY. KATE FRENETTE, WHO WORKS AT THE SMALL BATCH DEPARTMENT STORE, SAYS THE BUSINESS HAS BEEN FILLED WITH MORE CUSTOMERS SINCE THANKSGIVING. MANY PEOPLE ARE PURCHASING NOVELTY ITEMS AS GIFTS. WE ARE A REALLY GREAT SPOT FOR LAST MINUTE SHOPPING. WE HAVE SOMETHING FOR EVERYONE. WE HAVE BOOKS, CANDLES, MUGS, CLOTHING, JEWELRY, BLANKETS, WHATEVER YOU CAN THINK OF. AND ALTHOUGH BOTH BUSINESSES HAVE CLOSED FOR TONIGHT, THEY WILL BE OPEN ON CHRISTMAS EVE. IF YOU HAVE ANY LAST MINUTE HOLIDAY GIFT SHOPPING TO COMPLETE. REPORTING LIVE IN

Social Security recipients to see 2.5% increase in 2025 benefits [Video]
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Small Business Funding

Social Security recipients to see 2.5% increase in 2025 benefits [Video]

Social Security recipients will get a 2.5% boost in their checks in the new year.The cost of living adjustment, or COLA, will average around $50 more for retirees every month in 2025. The Social Security Administration calculates the number based on changing prices and the economy. Though next year’s COLA is a bump, it accounts for less than a third of the record-high raise seen in 2023.”That was a reflection of the 40-year record inflation high that Americans suffered as a result of all of the stimulus spending that occurred during the pandemic,” said Romina Boccia, of the Cato Institute. “The Federal Reserve has since tightened down on price changes with the interest rates, etc., and that has brought inflation down.”Recipients should have received a notice about exactly how much more they’ll get when the first Social Security payments go out in about two weeks.Congress recently passed a bill expanding Social Security benefits for 3 million public sector workers and their surviving spouses, some of whom didn’t pay into Social Security. The average benefit will rise between $360 and $1,200.But the bill’s $200 billion price tag adds to a larger funding problem with Social Security. Experts predict the program will be insolvent by 2033 if current spending and revenue streams aren’t addressed and reformed immediately.

Investors swoop in to save German flying taxi startup [Video]
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Small Business Funding

Investors swoop in to save German flying taxi startup [Video]

A German flying taxi startup was Tuesday saved from collapse after a consortium of investors swooped in at the 11th hour to take over the ailing firm. Lilium had already filed for bankruptcy in October, and was expected to fold entirely this week unless it could secure new sources of funding. But the startup, which

Mass. clothing stores offer gear to keep you warm and cozy [Video]
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Small Business Funding

Mass. clothing stores offer gear to keep you warm and cozy [Video]

Newburyports Banter is not just a barbershop that offers a hot towel shave but also a mens boutique featuring cozy menswear. Occasionally, Banter is home to trunk shows from local brands, including Billie Todd, which designs luxury knitwear crafted by a renowned yarn maker in Scotland. Leaf Boutique in Mansfield offers a wide range of womens accessories and winter clothing, from sizes zero to 2X.