News Roundup for Small Businesses: 50+ Companies Working in Trucking Tech
Issue 2, February 11th
CB Insights published their expert research in the autotech industry. Featuring over 50 companies, it showcases a growing number of startups looking to revolutionize the trucking space. They are developing tech to tackle problems across the supply chain, from managing the persisting shortage of drivers to optimizing truck utilization and tracking vehicles to minimize costs.
It’s the season of film awards, it’s the season of Forbes lists. In this showcase of most innovative fintech companies of 2019, discover how the big companies are getting bigger - worldwide industry value hit $55 billion in 2018 - and new faces are joining in. Two areas feature important additions: payments technology and companies targeting the underserved, from immigrants without US credit histories or hourly workers living paycheck to paycheck.
Small business lending decreased by 9.7 percent in December 2018, according to recent data from lending solutions provider PayNet. While there are several reasons that might have caused this (from the Midterm election results to the Government shutdown news), it’s also the second December in the last two years where lending has decreased, hinting to an overall economic slowdown.
Nobel laureate Paul Krugman said the U.S. economy may be heading into a recession at a time when the Federal Reserve doesn’t have the firepower to properly combat a slump. Adding to this his longer op-ed in New York Times, comparing US economy in Trump and Reagan’s time, his concerns become evident.
Last Thursday, many Wells Fargo customers had the unpleasant surprise of not being able to access their accounts — whether to get cash, pay bills or swipe a debit card for gas. According to the bank’s spokesperson, the outage was caused by a power shutdown in one of its facilities that was fixed, while all pending transactions were completed by Friday. Thankfully, things are all back in order.