business-economy4.43 min read
"California's Minimum Wage Hike: Impact on Fast Food Businesses and Workers"
1 year ago•Source: Los Angeles Times
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4.12 min•1 year ago
"Denver's Thriving Industries: A Closer Look at Three Booming Businesses"
Denver and Boulder in Colorado are experiencing tech-fueled economic booms, with Denver standing out due to its growth in professional sports, a popular outdoor recreation venue at Red Rocks Amphitheatre, and a thriving cannabis industry. Legal marijuana sales have added $15 billion to Colorado's economy, with Denver's marijuana tax revenue crossing the half-billion mark last year. Denver's professional sports franchises collectively raked in over $1 billion in 2022, placing the city among the top earners in professional sports nationwide. Red Rocks Amphitheatre generates a massive $717 million in regional economic output annually and is the world's most-attended concert venue, contributing to the city's economic success.
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"US Retail Sales Rise 0.6% in February Despite Economic Cooling and Consumer Caution"
Originally Published 1 year ago — by The Associated Press
February retail sales in the US increased by 0.6%, following a 1.1% decline in January, but the gain was weaker than expected, indicating growing consumer caution. Rising gas prices and inclement weather affected sales, with a shift towards services over goods. Department stores, clothing, and furniture stores saw declines, while online sales showed a rare decrease. Despite a strong job market and rising wages, consumers are more budget-conscious due to higher prices and credit costs. Retailers like Walmart and Target report customers seeking deals and sticking to necessities, with some businesses adjusting to customer spending behavior by increasing discounts or expanding stores.
"American Investors Wary as Xi's Tactics Impact China's Economy"
Originally Published 1 year ago — by CBS News
American investors are becoming wary of China's business environment due to intellectual property theft, expanded espionage law, and a slowing economy. U.S. Ambassador to China Nicholas Burns highlighted concerns about more money leaving China than coming in from American, Japanese, European, and Korean investors. The Chinese economy is facing challenges such as slowing export growth, high debt, and youth unemployment. President Xi's government tactics, including raiding American companies and passing a broad counter-espionage law, have left many American businesses uncertain about the future in China. Despite this, some American companies are still expanding their operations in China, while others are considering moving to alternative markets like Singapore, Vietnam, and Mexico.
Global Stock Markets React to China's Disappointing Economic Data
Originally Published 2 years ago — by CNBC
China's recent economic data reveals ongoing struggles post-pandemic, potentially impacting U.S. companies with significant sales in China such as Starbucks, Estee Lauder, and Wynn Resorts. The lack of a consumption-driven stimulus plan from the Chinese government could further exacerbate the situation.
"CEOs' Growing Concerns: AI and Climate Change Threaten Business Survival"
Originally Published 2 years ago — by The Associated Press
A PwC survey of over 4,700 CEOs worldwide reveals that while more executives are optimistic about the global economy, a growing number fear their companies won't survive the next decade without significant changes due to pressures from climate change and artificial intelligence. Despite improved economic outlook, CEOs are concerned about their companies' ability to weather major changes, with 45% worried about viability in a decade without reinvention. The survey also highlights CEOs' views on AI's impact on business operations, cybersecurity risks, and the need for worker training, as well as the increasing focus on climate change as both an opportunity and a risk.