The U.S. does not support a plan proposed by Brazil and supported by France and several other countries to impose a global tax on billionaires, treasury secretary Janet Yellen said last week.
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EU TRADE DEFICIT WITH CHINA SHRINKS, SURPLUS WITH U.S. GROWS
Weak consumer demand among European Union (EU) nations is brightening the group’s foreign trade picture.
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U.K., U.S. CONSUMERS CUT SPENDING IN APRIL
“Spending fatigue” has set in on both sides of the Atlantic, The Wall Street Journal reported, as shoppers in the U.K. spent 2.3 percent less in April than in March, the National Bureau for Statistics reported.
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GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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SPECIAL REPORT: ROBBER BARONS 2.0: HOW PRIVATE EQUITY KILLED RED LOBSTER: A CASE STUDY
It wasn’t only all-you-can-eat shrimp for $20 that drove the Red Lobster restaurant chain to claim bankruptcy on 19 May, an NBC News investigation says.
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BILLIONAIRE’S DAUGHTER ROILS ALASKA’S SOVEREIGN WEALTH FUND
In 2022, the daughter of David Rubenstein, billionaire cofounder of the Carlyle Group asset management firm, became a trustee of the Alaska Permanent Fund Corp. (APFC), the state’s sovereign wealth fund, with a mission of helping the fund update its investment strategy.
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MASSACHUSETTS SET TO LOSE ALMOST $1 BILLION IN TAXES AS THE RICH MOVE OUT
The state of Massachusetts could lose almost $1 billion in tax revenue annually by 2030 as well-off households flee the state’s high taxes and home prices, Boston University’s business school has calculated.
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LOWE’S, MACY’S, TARGET REPORT WEAKER SALES
The 1,900-store Target discount chain reported a 3.7-percent drop in overall sales in its most recent quarter ending in early May, making it the fourth consecutive quarter of shrinking sales for the company.
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SALES OF NEW HOMES SLUMP IN APRIL
In April, sales of newly built homes fell 4.7 percent from March and 7.7 percent year on year, the U.S. census bureau reported.