According to US Treasury data cited by Bloomberg, Beijing sold $53.3 billion worth of US Treasury and agency bonds from its stockpile. That’s above already eye-catching volumes China was offloading last year. Altogether, one estimate has calculated that the country has sold $300 billion of US Bonds between 2021 and mid-2023. China’s selling grew to…
In a stark reflection of shifting consumer habits exacerbated by the pandemic, Coach USA, the parent company of Megabus and other commuter bus services, has filed for Chapter 11 bankruptcy protection. This move comes as the company grapples with a steep decline in commuter ridership, which has yet to rebound to pre-pandemic levels. The COVID-19…
In recent years, an alarming trend has emerged in the United States, indicating not only the severity of economic deterioration but also highlighting the widening wealth gap. The phenomenon of locking up staple items like Tide laundry detergent in stores is a stark indicator of these issues. Reports from across the nation reveal that stores…
In the ever-changing landscape of California’s fast food industry, a formidable challenge looms large, threatening the very core of iconic chains such as McDonald’s and Burger King. Once stalwarts of American dining, these establishments now confront a confluence of economic hurdles that jeopardize their survival. Minimum wage hikes and inflation may bring to close the…
This week, Oregon Health & Science University (OHSU) informed its staff that they would be laying off 500 or more people in the next 90 days. The announcement, made through a letter sent to employees on Thursday, cited increasing costs of supplies and labor as major contributing factors in their decision-making process. Although the exact…
In a landmark move, the California $18 Minimum Wage Initiative has officially qualified for the November 5, 2024 ballot. This initiative, if passed, would incrementally raise the state’s minimum wage to $18 per hour by 2026, with subsequent adjustments based on the cost of living. This proposal has garnered significant support, with a recent poll…
The first week of June marked significant job cuts at two major IT giants, Google and Microsoft, as the wave of layoffs continued in 2024. Google announced the layoff of approximately 100 employees in its Cloud unit, while Microsoft reportedly cut over 1,000 jobs across various divisions. At Google, the layoffs targeted the Cloud unit,…
In the realm of fast-casual dining, Chipotle’s story is one of resilience amid adversity. Despite facing a barrage of challenges, from shrinking portions to sanitation concerns, the Denver-based chain continues to defy expectations. Even in the wake of California’s minimum wage hike and widespread discontent, Chipotle stands tall, poised to open 300 new locations this…
Amidst skyrocketing home prices in the U.S., a recent court case in Kansas City has spotlighted a hidden factor: realtor commissions. The verdict, totaling $1.8 billion in damages, revealed how the National Association of Realtors (NAR) and major real estate companies artificially inflated brokerage commissions. At the core of the issue is how commissions are…
Hino Motors Manufacturing U.S.A., a subsidiary of Toyota, has announced plans to shut down its largest auto parts plant in the U.S. due to concerns about achieving “sustainable profitability.” The facility, located in Marion, Arkansas, opened in 2006 and produces truck frames and axles for Hino and Toyota vehicles. This plant accounts for about 70%…
