The shocking state of the restaurant industry: 'We can't afford to be open. We can't afford to be closed.'
Running a restaurant during economic crises can lead to challenges where closure may be unaffordable, causing financial strain and uncertainty. [ more ]
The article documents permanent restaurant and bar closures in the city, emphasizing reasons like refocusing, economic challenges, and business downturn. [ more ]
Mayor's Fiscal Austerity Manages to Restore $2.2 Billion to City's Budget, Says OMB Director
New York City grapples with budget shortfalls due to unforeseen circumstances, prompting strategic fiscal decisions for containment and recovery. [ more ]
What Happens to a Gun Town When the Gun Factory Moves Out?
Eliphalet Remington started Remington Arms in upstate New York, a company that played a significant role in producing weapons for various sectors.
Economic factors and global competition led to Remington Arms relocating its operations from New York to Georgia, causing the loss of hundreds of jobs in the village. [ more ]
Furious farmers in Germany are protesting against plans to cut tax breaks for agriculture, leading to road blockades and strikes.
The protests are part of a larger wave of industrial action across various sectors in Germany, as workers seek wage increases amidst weak economic growth and increased prices. [ more ]
California Faces $68 Billion Deficit Amid Steep Revenue Decline
California is facing a $68 billion budget deficit due to a decline in revenue similar to that seen during the Great Recession and dotcom bust.
The state's reliance on taxation of capital gains and the personal income of high earners, along with the federal government's efforts to control inflation, are contributing factors to the budget deficit. [ more ]
Why are fewer Chinese tourists visiting Thailand? DW 12/05/2023
Chinese tourist arrivals in Thailand in 2023 are estimated to be lower than initially forecasted.
Changing travel trends in China, including domestic travel and economic challenges, contribute to the decline in Chinese tourists visiting Thailand. [ more ]