Bank runs are bad. They're bad enough to bring down governments. There's been a slow-motion bank run in rural China for several months, and people are starting to get concerned that the "contagion" could spread.

In the anatomy of an economic crisis, a bank run is the point of no return.

Bank runs occur when people scramble to withdraw cash from banks in fear of collapse. In the worst cases, banks' liquid cash reserves are exhausted, not everyone gets their money and the bank defaults. ...

In recent years it has become clear the Chinese people are losing faith in their financial institutions. There's been anger over harsh COVID lockdowns in Shanghai recently, while the collapse of China Evergrande saw rare public demonstrations as residents faced the prospect of losing their life savings used as deposits for housing. ...

Multiple sources contacted by Asia Markets, have confirmed deposits at the following six banks have been frozen since mid-April.

• Yuzhou Xinminsheng Village Bank (located in Xuchang City, Henan Province)
• Zhecheng Huanghuai Bank (City of Shangqui, Henan Province)
• Shangcai Huimin Rural Bank (Zhumadian City, Henan Province)
• New Oriental Village Bank (City of Kaifeng, Henan Province)
• Huaihe River Village Bank (Bengbu City, Anhui Province)
• Yixian County Village Bank (Huangshan City, Anhui Province)

It's understood the banks with branches across the Henan and Anhui Provinces successively issued announcements in April, stating they would suspend online banking and mobile banking services due to a system upgrade.

At the same time, clients reported their electronic deposits in online accounts, mobile apps and third-party platforms could not be withdrawn.

This led to depositors rushing to local bank branches, only to be told they were unable to withdraw funds.

It looks like the bank failures are due to fraud and corruption -- bank managers simply stole the money. Hopefully this corruption isn't widespread and the problem can be contained.

It seems that most conservatives are calling the new Bank Term Funding Program a "bailout" for the rich, but as far as I can tell preventing a contagious bank-run is good for everyone. Shareholders and bondholders of any failed banks are not being guaranteed in anyway, only depositors (i.e., bank customers).

The additional funding will be made available through the creation of a new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks, savings associations, credit unions, and other eligible depository institutions pledging U.S. Treasuries, agency debt and mortgage-backed securities, and other qualifying assets as collateral. These assets will be valued at par. The BTFP will be an additional source of liquidity against high-quality securities, eliminating an institution's need to quickly sell those securities in times of stress.

Silicon Valley Bank and Signature Bank are being "resolved" and shareholders are being wiped out. Bondholders will probably get some of their money back, but they won't be made whole. Depositors will be fully protected. Bank runs are caused by depositors panicking and withdrawing their money, so the BTFP should be sufficient to forestall that catastrophe without "bailing out" banks using taxpayer dollars. I guess we'll find out.

An "ultimate" version of Band Aid's famous festive hit Do They Know It's Christmas? is set to be released to mark the song's 40th anniversary, featuring the voices of original singers as well as younger artists.

A union representing Post Office staff has lashed out at proposals that could result in 115 branch closures and significantly more than 1,000 workers losing their jobs, by describing them as "immoral".

The Range, the privately owned general merchandise retailer, is closing in on a deal to snap up a large chunk of Homebase which will save close to 1,500 jobs but raise doubts about at least 1,700 more.

The court said authorities cannot demolish property of people just because they are accused of crimes.

Actor Timothy West has died peacefully in his sleep aged 90, "with his friends and family at the end".

BAFTA will not revoke individual awards won by disgraced news presenter Huw Edwards, Sky News understands.

Głównym celem tego oszustwa jest zachęcenie potencjalnej ofiary do podania danych logowania do swojego konta bankowości internetowej, aby następnie wyłudzić przechowywane pieniądze.

Ostrzegamy – nastąpił wyciek zaszyfrowanych haseł użytkowników menadżera LastPass. Podczas ataku zostały pobrane pliki z infrastruktury LastPass, zatem atakujący może mieć dostęp do: adresów email, nazwisk, zaszyfrowanych haseł czy niezaszyfrowanych pól.

Ostrzegamy - szkodliwe oprogramowanie z rodziny Hydra ponownie aktywne. Jako cel obiera dane logowania do aplikacji bankowych na systemach Android.

Nowy Rok przyniósł kolejne rozwiązania poprawiające bezpieczeństwo polskiego internetu. Jednym z nich jest Artemis – narzędzie rozwijane przez zespół CERT Polska, które pomaga sprawdzać poziom zabezpieczeń stron internetowych. Weryfikacji podlegają podmioty, w przypadku których, zgodnie z ustawą o krajowym systemie cyberbezpieczeństwa, obsługa incydentów koordynowana jest przez CSIRT NASK.

Od początku sierpnia CERT Polska jako jedyna instytucja w kraju i jeden z 7 CERT-ów w Europie może nadawać numery CVE, które służą identyfikacji i katalogowaniu publicznie ujawnionych podatności.

Zespół CERT Polska oraz Służba Kontrwywiadu Wojskowego wraz z zagranicznymi partnerami wykryły, że Rosyjska Służba Wywiadu Zagranicznego (SVR) wykorzystuje podatność CVE-2023-42793 (w JetBrains TeamCity) do szeroko zakrojonych działań, skierowanych przeciwko podmiotom wytwarzającym oprogramowanie.

W ostatnich tygodniach zespół CERT Polska obserwuje wzmożoną kampanię ataków z użyciem szkodliwego oprogramowania Balada Injector, które infekuje strony oparte na WordPressie korzystając z podatności w niektórych popularnych wtyczkach.

(EMAILWIRE.COM, October 22, 2024 ) Denver, CO and Boulder, CO – Outskirts Press—the fastest-growing, full-service self-publishing and book marketing company—is pleased to announce the release of Lessons from a Barracuda by Beth McKnight. The novel takes a bite out of abuse in the home and workplace...

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What is a small business?

It is getting harder and harder to tell. Last week, the SBA adjusted its size standards that determine if a company is a small business. The definition varies by industry and is derived by annual revenue or by number of employees.

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Every small business should have a basic knowledge of search engine optimization. In fact, you should almost be exhausted by the term  SEO at this point, as you have been undoubtedly told time and time again just how important it is. But unlike many trending industry buzzwords, SEO is here to stay. Why? In our web-facing world, the (already) dominant search engines are becoming the cornerstone of the internet. Standard procedure for individuals looking for information is to search first.

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One of the most popular case studies used to decry the rise of the corporation is the apparent downfall of local bookstores. With Borders now just a fond memory and Barnes & Noble living on borrowed time, it’s clearer than ever that Americans have spoken and Amazon has won—or has it?

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Technology makes getting quality work done on the go easier than ever. You can take an active role in meetings from anywhere, collaborate in real-time from different locations, and track everything from inventory to security from your couch.

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All major wireless operators available in the U.S. offer some international roam, but the volume varies by network. To get an understanding of how your network will fare abroad, or to understand which carrier to choose if you are a regular traveler, you should first understand the two basic major technologies that wireless operators use.

How to Travel With Your Cell Phone Without Breaking the Bank

What is a Domain Name Strategy?
The purpose of a domain name strategy is to proactively protect your brand online by reducing the chance for others to use your brand name in their online activities, specifically, in their website URLs.

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There is a lot to be said for those rare few that possess the ability to create huge companies with hundreds or thousands of employees that are all just ecstatic to be at work. It is exceptionally difficult and equally as impressive, which is why they end up taking up space on the front page of a major magazine or journal.

Although it appears flashy and glamorous, particularly with the amount of celebrity that todays super entrepreneurs wield, there is a tremendous amount of flexibility that is lost, almost by default, once you pass a certain size. Now, not only am I not one of those few, but I really do not want to be.

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Millions of small businesses are vulnerable to cybersecurity attacks that can cost an average of $20,000 per attack. Here is some basic wisdom to help SMBs protect themselves.

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As Federal Reserve officials gathered to issue their monthly assessment of the world's largest economy, a new study lays bare the extent to which many small firms are pressed for cash.

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The founder of a multiracial beauty company shares how she coped after her “personal and professional victory” angered many fans.

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After five straight months of declining or flat readings in small business optimism, Julys update from the NFIB showed a big turnaround. With economists expecting the headline index to come in at a level of 103.5, the actual reading came in at 105.2. This puts the index back within a point of its cycle high and indicates that despite a lack of progress in DC, small business owners are seeing improved conditions on the ground.

Small Business Confidence Bounces Back

I spend a lot of time asking employees about how leaders can be more effective communicators. Just yesterday, in fact, I moderated a focus group with employees at a fast-growing consumer products company.

The people in the group provided the same feedback I hear time and time again: Leaders are pretty good at sharing information, but they are lousy listeners.

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This week is Small Business Week, and on Thursday Amazon released its first Small Business Impact Report. Its position? Amazon has been good for small businesses.

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As a small business owner or manager, sometimes the sheer volume of things that need to be done makes it hard to remember to think about others. It's important, however, to give back to your community. In fact, if you own a small business that draws on local customers, it's important to do things that strengthen your bonds with your community.

Not all of these apply to every type of small business. A retail store can do things that a small service-based business can not, but at least one of these should apply to your business.

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Most small businesses can perform a simple audit and improve their SEO considerably without involving an agency. Ten steps you can take to get started.

I am a big fan of getting the basics precisely dialed in for small business search engine optimization (SEO). Ensuring you lay a solid SEO foundation will typically deliver around 80 percent of the results, for only 20 percent of the effort, for small local businesses.

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It is often assumed that giving back is something that only big corporations can do. After all, larger businesses often have more profits and can easily give away money to notable causes. But it doesn't mean that smaller businesses can't do the same. Often times, small businesses can also have a significant impact on organizations that can use their help.

We asked members of the Forbes Business Development Council for ideas on how small businesses can give back to their communities.

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Have you ever shared bad news with coworkers, employees or partners? As much as we don't want to shoot the messenger, sometimes we associate negative feelings with the person who tells us bad news.

Work is hard enough as is. You do not need a negative halo effect associated with you, especially if a situation was out of your control. For example, maybe you and a partner organization submitted a proposal and were waiting to hear back from a Fortune 1000 client. The client tells you that another company out-bid you with a lower quote.

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It is easy to see why text messaging is the most-used data service across the world. We send and receive five times as many texts compared with the number of phone calls each day, according to mobile intelligence firm Informate.

A huge 90 percent of the time, a text is read within the first three minutes of receiving. Customers who receive texts from businesses tend to have a 40 percent higher conversion rate than those who do not. Small businesses could benefit from this consumer behaviour.

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In the modern business world, companies make use of SEO basics to secure a digital footprint. SEO is everywhere. What is more, the Internet is constantly changing. In order for businesses to keep up with demand, they have to cater to an audience that lives and breathes the Internet.

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I started my first business out of my university dorm room, and like most startup business owners, I had to be resourceful and use whatever tools I could afford. Thus, I taught myself how to use Photoshop and I designed my own business cards, my own logo and all of my own marketing materials — and they looked bad. Unfortunately, friends, family and everyone who I marketed my startup entertainment business to knew that my branding materials looked bad — except for me.

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Effective Aug. 19, the Small Business Administration (SBA) is raising its monetary-based small business size standards for inflation by an average of 8.4%, an adjustment that the administration expects will allow 90,000 additional companies to participate in its loan and contracting programs. The SBA said that this increase could result in $750 million more total contracts awarded to small businesses and as much as $65 million more in small business loans.

In order to be considered a small business under current SBA guidelines, most general, heavy and civil construction companies cannot have more than $36.5 million of average annual sales receipts.

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The daughter of two entrepreneurs who immigrated to the U.S. during the Iranian Revolution, Falon Fatemi became known as Google's youngest-ever hire at the age of 19. After leaving Google, she founded her own AI company, Node — and secured famed investor Mark Cuban as a backer. Node aims to use deep learning to analyze relationships between people and companies, then pinpoint how clients can leverage those relationships into sales, marketing and recruiting opportunities. In this episode of How Success Happens, Fatemi spoke with Entrepreneur about landing a job in big tech, AI and data policies and how to give a top-quality pitch.

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If you run a small business, security is probably near the top of your priority list—and if it’s not, it should be. Businesses are the most common targets for cyberattacks, and the consequences of having data stolen can be huge ever since the passage, implementation, and consequences of the GDPR (General Data Protection Regulation) in Europe.

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As you take the helm and begin guiding your business into the future, you would be well-advised to listen to suggestions from people who have already made the mistakes they can help you avoid. By the way, you are going to make mistakes. If you can accept that and learn from your mistakes, it will all amount to nothing more than an on-the-job education.

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Many small businesses have shut their doors but the bills are still piling up. The Small Business Administration is launching a program to assist, but many lenders are voicing concerns about it, calling the S.B.A.s expectations unrealistic.

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You might have missed it amid all the goings-on since then, but in August 2019, a new law was passed that gives small businesses (and individuals/married couples) a new and simplified way to go through bankruptcy without needing to sell off their assets.

In other words, you can keep operating your business while going through and emerging from bankruptcy. And you can do it faster and cheaper than before.

The Small Business Reorganization Act added a new section to Chapter 11 of the U.S. Bankruptcy Code. Subchapter V lets entities with debts below a threshold amount go through a streamlined court process, establishing and approving new repayment plans that creditors are required to accept (creditors get input, too, but this is limited and more streamlined as well). You don't have to sell off your assets as in a Chapter 7 bankruptcy, and you can keep operating without needing to meet the strict Chapter 13 requirements or suffering the prohibitive expense of a standard Chapter 11 process.

Your business might be in dire straits, but weathering this rough patch might mean a return to profitability.

Working from home has accelerated innovative team-building trends. How to make traits like agility, collaboration, and candor a permanent part of our management process.

The future of work arrived out of nowhere, on the back of a once-in-a-century pandemic. Team dynamics got challenged as members dealt with illness, trauma, and crisis. We've all been forced to rapidly and radically adapt to new working norms. The Ferrazzi Greenlight Research Institute has spent more than 15 years studying high-performing teams, but I've never seen entrepreneurs rise to the occasion as they have this year. When the crisis subsides, the temptation will be to turn back that progress and retreat into old behaviors.

The length of time that a cell phone battery lasts depends on a variety of things. Battery life can be influenced by the type of the cell phone, the type battery, the age of the battery, the applications being used on the phone, even the temperature where the phone is stored and used can impact battery life.

How Long Do Cell Phone Batteries Last?

The Covid-19 pandemic caused an unprecedented financial ripple effect in nearly every industry but hit the small businesses that define America the hardest. Throughout the first six months of the pandemic, more than 60 million Americans filed for unemployment insurance. That’s 23 million more than the 37 million who filed claims during the 18-month Great Recession.

By now, many small-business owners who made the difficult decision to shrink or temporarily pause are rebuilding. As they have already learned, though, rebuilding your business is not as easy as flipping a switch and watching your business rebound to its pre-Covid-19 state. As a small-business owner, your plan to rebuild should focus on rehiring employees who can fulfill your immediate needs while simultaneously paving the groundwork for growth in the new norm.

In a world in which e-commerce has become a necessity for nearly every retailer, it can seem they have only two options: list their goods on marketplaces run by giant companies, or sell to consumers directly, hoping they will make more on each transaction despite fewer sales. In other words, either join a dominant marketplace like eBay , Walmart or Amazon —which by itself represents 38% of U.S. online sales, according to Digital Commerce 360—or hope they can find customers through advertising and word of mouth.

For many small- and medium-size sellers, a third option has emerged, embodied by the rising star of e-commerce, Shopify . This approach gives merchants access to cloud-based third-party services such as payments and fulfillment, but lets them maintain more control of their branding and customer relationships than the biggest marketplaces offer. Shoppers might not even know they’re buying something from a Shopify-powered retailer, and that’s the point.

In addition to making goods available on sellers’ own sites, these software companies—which also include BigCommerce and Magento—can perform the laborious task of listing merchandise on the giants marketplaces. By becoming hubs for managing sales through multiple channels, including social-media platforms, they represent real competition for Amazon and its ilk, potentially giving merchants more leverage when dealing with those entrenched giants.