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 move aimed at confronting pervasive income inequality, California Governor Gavin Newsom recently signed into law a substantial increase in the state’s minimum wage for fast food workers setting it at $20 per hour. While celebrated as a significant step forward for workers’ rights and economic justice, experts argue that this adjustment, while notable,…
Small distillers across New York State are rejoicing over the recent legislative approval of a measure that would allow them to ship their products directly to consumers. This privilege, long enjoyed by New York wineries, promises to open new sales channels for distilleries, cideries, and meaderies. However, the bill’s future hinges on the signature of…
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 a landmark move aimed at addressing wage inequality, Governor Gavin Newsom’s signing of AB 1228, known as the FAST Recovery Act, has ignited a surge in California’s limited-service restaurant industry. The enactment of a $20 minimum wage for fast-food workers on April 1, 2024, not only signifies a significant milestone in the state’s economic…
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…
With the imminent enforcement of Senate Bill 478 on July 1, which mandates a statewide ban on service fees in California, restaurant owners statewide are undergoing significant adaptations to their operational frameworks. From bustling city centers to serene coastal enclaves, dining establishments are recalibrating strategies to comply with the new legislation that bars any added…
California recently made a decision that affects how much Californians pay for electricity. The California Public Utilities Commission (CPUC) gave permission for big utility companies like Pacific Gas & Electric to add a fixed charge to people’s monthly power bills. This charge covers the cost of setting up and maintaining the equipment needed to deliver…
Less than a month following the bankruptcy filings of subsidiaries under the Zachry Group, a significant player in the construction and engineering sector, the fallout has hit hard. Zachry Industrial, a prominent arm of the conglomerate, has announced a staggering layoff affecting over 4,000 employees. The revelation came through a Worker Adjustment and Retraining Notice…
