The Details of Shopify's Massive Q2 2022 Loss - Practical Ecommerce

Shopify released on July 27 disappointing second-quarter financial results, announced a 10% staff reduction and permanent remote work for most of its employees.   

China Retaliates Against Taiwan After Pelosi Visit: What It Means For Semiconductors, Other Key Sectors (msn.com)

China has imposed commercial sanctions on Taiwan following Speaker Pelosi's visit.  The sanctions may affect global supply chains, particularly semiconductor dependent products.   EMTC commented on teh USTR proposal for trade with Taiwan.  You can read our comments.  

Recent economic data have been the Fed's 'worst nightmare,' economist says (msn.com)

Yahoo Finance provides a perspective on the recent economic data being released.  EMTC seeks to provide multiple sources of information to help small businesses develop strategies for their businesses. 

CBO Director Discusses Inflation, Interest Costs, New Reconciliation Proposal, and America’s Unsustainable Debt (pgpf.org)

CBO is scoring the recent legislative proposals and the current economic environment .  Thanks to the Peterson Foundation for this article and information

Senate passes Chips and Science Act, a 'historic' investment in U.S. innovation and tech – GeekWire

This 1,000 page bill authorizes $250Billion of spending of which $50Billion is for chip production.  Another significant portion is for STEM research and education.  Note that it authorizes a supply chain database.  EMTC members will be receiving more information and analysis on the contents of this bill. 

The next chapter of Ghana’s e-commerce revolution | LinkedIn

Small businesses are hit hardest by economic events such as recession and inflation.  Some experts forecast inflation to drop by 1-2 points from 9.1% to 7.5-8%.  The potential for recession is also under discussion as news outlets report that companies are canceling job offers and/or cutting jobs.  GDP data is due out this week.

The top economist who knew inflation would be a disaster says get ready for a bumpy recession ride: ‘Soft landings represent a kind of triumph of hope over experience.’ (msn.com) 

Chips Plus passed the first Senate hurdle last week.  A second Senate vote is needed. The House must also pass it. The House goes to August recess on July 27.   The bill as written includes $52Billion of unfunded chips factory funding (ie to Intel, Samsung, Taiwan Semiconductor), tax credits and authorization of "science agencies" among other not defined areas.  Sen Schumer (D-NY) has stated that Chips will benefit upstate New York. The question is increasing debt versus re-shoring chips production.

US Senate Passes CHIPS Act Temperature Check, but Challenges Linger (hpcwire.com)

Shipping line Maersk outsources new cargo jets to Amerijet - FreightWaves

Maersk will add air cargo capacity to its ocean cargo offerings later this year

Small business owners blitz Capitol Hill over inflation, recession fears | The Hill

Small business owners flew to Washington to raise awareness of the impact of the recession on them.  Add to this other bills under consideration such as Pass through Tax adding 3.8% federal tax ; potential loss of de minimis (calculated at $499Billion cost) and the American Rescue Act 1099K for on line small businesses.