US GDP Fell at 5.0% Rate in 1Q; Worse Is Likely on the Way
by Associated Press – 1 week ago
The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period.
Banking & Finance
Attorneys Probe Schwyharts' HMG Investments During Fraud Trial
1 week ago
HMG Investments proved to be a popular topic of questioning Monday in the bankruptcy fraud trial of Bill and Carolyn Schwyhart in Dallas.
Largest Private Companies List Gives Snapshot of Pre-Pandemic Normalcy
2 weeks ago
The 33rd annual list of the state's largest private companies serves as a baseline for pre-pandemic revenue.
US Home Prices Increase 4% in April
U.S. home prices gains accelerated in April even as sales have stumbled, a sign the coronavirus outbreak has had little impact on real estate values. read more >
FIS Selects 10 Startups for 2020 Fintech Accelerator Program
FIS of Jacksonville, Florida, and The Venture Center of Little Rock announces the 10 companies selected to participate in the 2020 FIS Fintech Accelerator program, which will take place completely online. read more >
Powell Says US Economy Facing Heightened Uncertainty
Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country's ability to contain the spread of the coronavirus. read more >
Billions of Dollars in Aid for Small Businesses Go Unclaimed
Billions of dollars offered by Congress as a lifeline to small businesses struggling to survive the pandemic are about to be left on the table when a key government program stops accepting applications for loans. read more >
US Pending Home Sales See Record-Breaking Rebound in May
The number of Americans signing contracts to buy homes rebounded a record 44.3% in May after a record-breaking decline the previous month, as the impact of the coronavirus pandemic sidelined both buyers and sellers. read more >
Dixon Moves to Bank OZK as SVP (Movers & Shakers)
Jeff Dixon has been hired as the senior vice president and employee benefits manager at Bank OZK in Little Rock. read more >
Schwyhart Trial Marks First in Pandemic Timeline 
The recent fraud trial of Bill and Carolyn Schwyhart represented a first for the U.S. Bankruptcy Court for the Northern District of Texas. read more >
Simmons Bank Trimming Branches
Simmons First National Corp. of Pine Bluff will close three branches in central Arkansas. read more >
Arkansas Industries Attempt to Divine The Post-Pandemic Future
Some, like the hospitality industry, are bracing for a long, slow return to pre-COVID vitality. Others, like the energy sector, see a quicker recovery after the early swoon. Some trends seem baked into expectations, like reliance on home-based employees and the technology they use. read more >
'Connect' Name Sets Federal Case in Motion
A legal dispute alleging trademark infringement and unfair competition pits two lenders with markedly different profiles that share similar names. read more >
Schwyhart Reveals Cancer Diagnosis During Testimony
The former northwest Arkansas real estate developer revealed the terminal diagnosis Wednesday morning as testimony wrapped up in bankruptcy court in Dallas, where he is accused of defrauding creditors. read more >
Judge: Ruling in Schwyhart Fraud Case to Come In Weeks
A ruling won't be coming this week in the Dallas trial regarding alleged bankruptcy fraud by Bill and Carolyn Schwyhart. read more >
Existing Home Sale Plunge 9.7% in 3rd Straight Monthly Drop
Existing home sales in the U.S. plunged 9.7% in May. It was the third straight monthly decline and further evidence of the harm the virus pandemic has done to the housing market. read more >
The Old Normal (Gwen Moritz Editor's Note)
Since I'm not at all sure any of us have a good grasp on how much our worlds will have been changed by the pandemic, I think of this week's list as a final snapshot of the old normal that will be valuable when it comes time to document the new normal. read more >
Arkansas Unemployment Fund Stable, but Worrisome
The state's unemployment fund was in the best of shape before the pandemic and is still healthy, but politicians and community leaders are worried it will be depleted by early 2021 if the economy does not bounce back as expected. read more >
Women's Foundation Gets $100K Grant to Help Boost Businesses
The Women's Foundation of Arkansas has been awarded a $100,000 Women's Funding Network grant to design and launch a Regional Women's Economic Mobility Hub in six months and operate it over the next 18 months. read more >
Arkansas Unemployment Drops to 9.5% in May
Arkansas' seasonally adjusted unemployment rate declined to 9.5% in May from 10.8% in April, the state Department of Workforce Services reported Friday. read more >
Centennial Bank Celebrates New Branch In Riverdale
Centennial Bank held a topping out ceremony this week for its new branch in the Riverdale neighborhood of Little Rock. read more >
Fayetteville Businesses Have Questions About Mask Ordinance
The Fayetteville Chamber of Commerce says several businesses are seeking more information about the city's mask ordinance, citing questions left unanswered by the law's language. read more >
SBA Issues Revised PPP Loan Forgiveness Applications
The U.S. Small Business Administration posts a revised Paycheck Protection Program loan forgiveness application reflecting changes to the program signed into law by President Trump on June 5. read more >
Resource Guide: Financial Tools, Aid for Businesses Hurt by COVID-19
Arkansas Business is regularly updating this page with links and contact information for businesses affected by the COVID-19 pandemic. read more >
US Home Construction Rebounds 4.3% in May
US home construction rebounded 4.3% in May after steep declines caused by shutdowns due to the coronavirus. read more >
WLR Plaza's Price Point Disputed in Eminent Domain Case
Eminent domain case associated with future improvements to Highway 10/Cantrell Road in west Little Rock hits the court docket. read more >
Arkansas Cities Say Pandemic Losses of Revenue May Be Overstated
City leaders around Arkansas are holding their breath as business and social activities gradually restart after the initial shock of the coronavirus pandemic. read more >
Mayor Frank Scott Jr. on How Little Rock Zoned In on Amazon
Little Rock Mayor Frank Scott Jr. discusses what the city did right against COVID-19, what he might have done differently, and what lies ahead. read more >
Taylor to Head Citizens Bank & Trust (Movers & Shakers)
P. Brent Taylor has been selected to succeed Keith Hefner as president and CEO of Citizens Bank & Trust Co. read more >
Springdale Fintech, Citizens Bank, Mark Cuban Announce Free PPP Website
Teslar Software by 3E of Springdale; Jill Castilla, president and CEO of Citizens Bank of Edmond; and Mark Cuban have collaborated to launch a free website that simplifies and streamlines the Paycheck Protection Program (PPP) loan forgiveness application process. read more >
Dow Sinks 1,800 As Virus Cases Rise, Deflating Optimism
Stocks fell sharply on Wall Street Thursday as coronavirus cases in the U.S. increased again, deflating recent optimism that the economy could recover quickly from its worst crisis in decades. read more >
Fed to Keep Providing Aid and Sees No Rate Hike Through 2022
onfronted with an economy gripped by recession and high unemployment, the Federal Reserve made clear Wednesday that it will keep providing support by buying bonds to maintain low borrowing rates and forecasting no rate hike through 2022. read more >
ICBA to Sponsor Accelerator in Little Rock Through 2024
The Independent Community Bankers of America announces that it will sponsor for another three years its ICBA ThinkTECH Accelerator program. read more >
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