Biden hiking tariffs on Chinese EVs, solar cells, steel, aluminum - adding to tensions with Beijing
The Biden administration plans to impose tariffs on various Chinese products, aiming to address national security and economic stability concerns without significant inflation impact. [ more ]
Home sales unexpectedly drop nearly 2% in April amid high mortgage rates and rising prices
High mortgage rates and rising prices are dampening the spring home-buying season, with existing home sales falling and median prices hitting a record high. [ more ]
Presidents' influence over the economy is limited, but their regulatory agencies can have significant impacts, such as seen in recent noncompete ban and other regulations. [ more ]
Pace of Real Estate Hiring Slows Across Southern California
Sluggish home sales and construction in Southern California due to higher interest rates have led to a significant slowdown in real estate hiring. [ more ]
Inflation progress has been slow, with Core rate falling to lowest level since April 2021, driven by factors like housing costs and energy prices. [ more ]
Are U.S. Interest Rates High Enough to Beat Inflation? The Fed Isn't So Sure
Higher interest rates may take longer to curb inflation, suggesting fewer rate cuts. American spending remains unaffected despite sharp rate increases. [ more ]
The Economic Potential Of Generative AI: Pros And Cons
Generative AI's economic potential is vast, expected to increase impact by 15%-40%, equating to $2.6-$4.4 trillion, impacting industries like healthcare, finance, transportation, and more. [ more ]
Russia: Putin picks Mishustin to stay on as prime minister DW 05/10/2024
Russian President Putin proposed reappointment of Prime Minister Mishustin, expected due to parliament's history of aligning with Putin's wishes. [ more ]
Russia bombed a lakeside resort in Ukraine, Ukraine shelled areas in Russia, significant drone actions reported, and seizure of assets over canceled project. [ more ]
Op-Ed | Harnessing AI and tech: Empowering New York City's economic renaissance | amNewYork
New York City is experiencing a tech talent boom, with a significant increase in tech workers relocating there, making it a potential leader in the AI revolution. [ more ]
San Jose cannabis dispensary opens in downtown - San Jose Spotlight
San Jose opened its first cannabis retail store in downtown, bringing positive impact to the community and contributing significantly to the city's revenue. [ more ]
Sunak's Job Seekers Allowance crackdown could bring 68.9m boost to British economy
The crackdown on improper Jobseeker's Allowance claims could lead to more people moving into full-time employment, providing a tax boost for the British economy. [ more ]
ACL Fest shows $499M economic impact, with $8.1M donated to parks improvements - Austin Monitor
The 2023 Austin City Limits Music Festival had a $499.9 million economic impact, creating 3,766 full-time jobs, and donated $8.1 million to the Austin Parks Foundation.
AngelouEconomics conducted an economic impact study for the festival, with results showing significant contributions to the local economy and park improvements across Austin. [ more ]
Sorry President Biden, those inflation numbers totally suck
The White House's attempt to spin new inflation data positively reveals major uncertainties around the effectiveness of rate cuts and the impact on the economy. [ more ]
New York Plans $80M Overhaul of Red Hook Coastline
The Brooklyn Marine Terminal and surrounding Red Hook area are set for an $80 million overhaul to create a modern maritime port and mixed-use community hub. [ more ]
Dow Jones stock index crosses 40,000: Good or bad for California?
The Dow Jones Industrial Average crossed 40,000 for the first time, reflecting historical milestones impacting the broader business climate, particularly in California. [ more ]
Exclusive: NYC company executives go big on AI development
New York City is leading in adopting AI strategies to reinvent its economy, with executives foreseeing positive impacts but unsure of the most effective government incentives. [ more ]
San Francisco's Population Ticks Up, and So Does California's
After three years of decline, California saw its first year of population growth in 2023 by gaining 67,000 residents, with San Francisco also experiencing a modest increase. [ more ]
How Would You Use $50K To Make A Difference In Your Small Business & Community?
Women-owned businesses play a crucial role in the economy and have significant entrepreneurial spirit, with the potential to make a positive impact in their communities. [ more ]
Brooks: Why are we gambling with America's future on national debt?
Interest payments on federal debt are skyrocketing, surpassing even the defense budget, posing a significant financial burden on the government and citizens. [ more ]
Why responsible AI development relies on female leadership input
Business leaders in the UK understand the importance of female leadership in AI, but there is a discrepancy in actual representation in senior roles. [ more ]
Bunge-Viterra consolidation could cost farmers more than $700 million per year: U of S report
Bunge's acquisition of Viterra could lead to substantial economic losses for farmers in terms of export basis, canola prices, and elevator competition. [ more ]
Music insiders see opportunity as Austinite takes over at Texas Music Office - Austin Monitor
The appointment of Chip Adams, a veteran in the music industry, as the next director of the Texas Music Office is optimistic for promoting the local music economy. [ more ]
With Trans Mountain pipeline open for business, Alberta's oilsands city bracing for boom | CBC News
Fort McMurray's economy heavily relies on the oil industry, constantly fluctuating with oil prices and related projects like the Trans Mountain pipeline expansion. [ more ]
The south London Wetherspoons we've lost so far this year
The closure of popular Wetherspoons pubs in South London highlights the impact of changing consumer preferences and economic factors on the hospitality industry. [ more ]