Asia-Pacific stocks mostly up; Chinese yuan moves following central bank action

SINGAPORE — Stocks in Asia-Pacific mostly advanced on Monday, with investors monitoring the Chinese yuan’s movements.

Mainland Chinese stocks were among the biggest gainers regionally, with the Shanghai composite up 2.64% to close at about 3,358.46 while the Shenzhen component jumped 3.151% to finish its trading day at approximately 13,708.07.

The moves in Chinese stocks came after state media outlet Xinhua reported Sunday that the country “unveiled a new comprehensive reform plan for Shenzhen,” giving local authorities there a “more direct and greater say in business” in areas such as carrying out market-based economic reforms.

Hong Kong’s Hang Seng index also surged 2.2% to close at 24,649.68. Shares of Chinese banks listed in the city soared: China Construction Bank added 5.58%, ICBC was up 5.74% while Bank of China gained 4.18%.

Elsewhere, South Korea’s Kospi rose 0.49% to close at 2,403.73.

Meanwhile, shares in Australia were higher on the day,

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State moves into Phase 3 of business reopenings

A third phase of business reopenings began in Connecticut Thursday, loosening restrictions on occupancy for restaurants and other businesses as well as expanding the amount of people allowed at indoor and outdoor entertainment venues. “The reason why we are able to have a discussion about even entering into Phase 3 is because of Connecticut residents’ collective actions to fight the spread of COVID-19,” Gov. Ned Lamont said.

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The big story

Connecticut enters Phase 3 of business reopenings: The state’s coronavirus infection rate has been slowly creeping up but a third phase of business reopenings moved forward Thursday, allowing restaurants to seat more customers indoors, churches to hold larger indoor worship services and performing arts venues that have been shuttered since March to reopen at 50% capacity. “We just wanted to give our restaurants a little

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Martinez Cannabis Packaging, Labeling Business Moves Forward

By Sam Richards Bay, City News Foundation

MARTINEZ, CA — A proposed cannabis business that initially had been rejected by the city has now gotten a new lease on life, its owners receiving the go-ahead Wednesday to apply for a permit to open a cannabis packaging and labeling business in Martinez.

The Martinez City Council voted 5-0 to award a conditional certificate to Opposite Coast LLC. It is expected the council will vote on formal conditions of approval as soon as Oct. 22.

The original Opposite Coast proposal was submitted in June 2019 for a 10,000-square-foot cannabis manufacturing business at 4808 Sunrise Drive, in a light-industrial area on Martinez’s east edge. It would be in the same building as what is now the Velvet retail cannabis store (which Opposite Coast’s owners already operate) and the Yerba Buena Logistics cannabis distribution and non-storefront retail business.

During a January 2020 interview with

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Barrington nonprofit moves to central location

Barrington Youth & Family Services has moved to a more central location in a building in downtown Barrington.

Representatives from the village, the business community and the Barrington Area Chamber of Commerce gathered with others Tuesday for a ribbon-cutting ceremony for the agency’s new location at 118 Applebee St. in Barrington.

        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        

 

“We are honored and very excited about this new location that literally puts us in a spot where we can shine in the center of the Barrington community,” Barrington Youth & Family Services Board President Chad Thalheimer said in a statement. “This organization opened its doors back in 1972, and we look forward to what the future holds with our amazing staff of clinicians who truly love their work.”

The agency’s previous location was about a half-mile west on County Line Road.

The community-based nonprofit social service agency has the “goal to build healthier families by providing counseling and

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Trump Moves to Tighten Visa Access for High-Skilled Foreign Workers

WASHINGTON — The Trump administration announced significant changes on Tuesday to the H-1B visa program for high-skilled workers, substantially raising the wages that U.S. companies must pay foreign hires and narrowing eligibility criteria for applicants.

Top administration officials framed the changes as a way to protect American jobs during the coronavirus pandemic, even though the Trump administration first committed to overhauling the program in 2017 as part of its efforts to reduce the number of foreign citizens employed in the United States.

“With millions of Americans looking for work, and as the economy continues its recovery, immediate action is needed to guard against the risk lower-cost foreign labor can pose to the well-being of U.S. workers,” Patrick Pizzella, the deputy secretary of labor, told reporters on Tuesday.

The rules will directly affect foreign workers and employers, especially tech companies that have long supported the H-1B program and pushed hard for

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