Two more nations sign up to China’s New Silk Road initiative
The ambitious multi-trillion-dollar BRI, also known as the New Silk Road, was announced by President Xi Jinping in 2013, aiming to boost connectivity and cooperation between East Asia, Europe, and East Africa. The major project is expected to significantly expand global trade, cutting trading costs in half for the countries involved. G7 nations seek to counter China’s Silk Road projects with ambitious infrastructure plan Eritrea is seen as strategically important due to its access to the Red Sea and the Suez Canal, as well as to waters in the Persian Gulf, and thus to the Indian Ocean. Meanwhile, the Atlantic Ocean nation of Guinea-Bissau is expected to boost China’s maritime … [READ MORE...]
Local News Outlets May Reap $1.7 Billion in Build Back Better Aid
Other major chains with Wall Street ties could also benefit from the tax credit. Tribune Publishing and MediaNews Group, both owned by the hedge fund Alden Global Capital, appear to be eligible, as does McClatchy, which is owned by the hedge fund Chatham Asset Management.Maribel Perez Wadsworth, the president of news at Gannett, defended the inclusion of her company, which publishes roughly 250 local newspapers, including The Arizona Republic, The Detroit Free Press and The Milwaukee Journal Sentinel (as well as USA Today). “Scale allows us to solve for some things,” she said, “but at the end of the day they’re local newsrooms with local reporters and photographers and editors, up against the same headwinds.”McClatchy declined to comment. A representative for Alden did not respond to a … [READ MORE...]
Where Will We Be in 20 Years?
Where will that electricity get produced? Solar power could be produced on largely unpopulated land masses and transported to population centers, an idea Elon Musk raised about China five years ago. China has “an enormous land area, much of which is hardly occupied at all,” he said, noting that most of China’s population is concentrated in coastal cities. “So you could easily power all of China with solar.”Another trend that, like increasing energy needs, isn’t new and isn’t going away: on-demand everything. Technology has led us to expect that goods and services will be delivered at the push of a button, often within minutes. That could transform real estate, especially space in cities that is currently used for retail. As companies work toward instant deliveries, they’ll need to … [READ MORE...]
Latest News
The Holiday Shopping Season Is Here, but Is It Back?
Stephen Arnold, president of the International Brotherhood of Real Bearded Santas, a trade group with more than 1,800 members, appeared at only a single tree lighting event last year. It was a frightening time, he said, particularly for a group of elderly men who are often overweight and have diabetes.But this season, Mr. Arnold said that all five of his tree lighting ceremonies are back, including a splashy event that he loves at Graceland, Elvis Presley’s estate in Mr. Arnold’s hometown, … [Read More...]
Why Retailers Are Fighting a Vaccine Mandate Before the Holidays
“I think employers are embarrassed and ashamed by what they are objecting to and therefore use the N.R.F. as a cover,” said Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union.He added: “If you had a choice of going to a workplace, or as a customer to go to a store, that said, ‘All our employees are vaccinated or tested,’ or another store that says, ‘We have no idea who’s vaccinated or tested,’ which would you choose? And that’s why, let’s say, Acme Department Store … [Read More...]
Why the Retail Industry Is Fighting Vaccine Mandates
“I think employers are embarrassed and ashamed by what they are objecting to and therefore use the N.R.F. as a cover,” said Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union.He added: “If you had a choice of going to a workplace, or as a customer to go to a store, that said, ‘All our employees are vaccinated or tested,’ or another store that says, ‘We have no idea who’s vaccinated or tested,’ which would you choose? And that’s why, let’s say, Acme Department Store … [Read More...]
Inflation Worries Dominated the Federal Reserve’s Last Meeting
Mary Daly, the president of the Federal Reserve Bank of San Francisco, told Yahoo Finance this week that she would be open to supporting a quicker end to the bond-buying program if economic trends did not improve.Understand the Supply Chain CrisisCard 1 of 5Now, ports are struggling to keep up. In North America and Europe, where containers are arriving, the heavy influx of ships is overwhelming ports. With warehouses full, containers are piling up. The chaos in global shipping is likely to … [Read More...]
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Small Business
Where Will We Be in 20 Years?
Where will that electricity get produced? Solar power could be produced on largely unpopulated land masses and transported to population centers, an idea Elon Musk raised about China five years ago. China has “an enormous land area, much of which is hardly occupied at all,” he said, noting that most of China’s population is concentrated in coastal cities. “So you could easily power all of China … [Read More...]
Jake Wood Was Once a Warrior, Then a Nonprofit Leader. Now He’s an Entrepreneur.
There were photos of the liberation of the camp, which was really inspiring, to see these American guys who had fought across Europe and managed to save these survivors. That moment taught me about good and evil.Was that part of the reason you joined the Marines?I think it inspired me as a young boy to think about serving in the military. I would speak to recruiters who came to the cafeteria, and … [Read More...]
Your Money
A Holiday Gift Guide to Beat Inflation
So maybe this holiday season is the time to forcibly upgrade the family Luddite. Or maybe it’s time to give in and buy a first phone for a child. (If so, consult our Wirecutter guide to the category, and do consider a dumbphone in lieu of a smart one.)If someone in your circle loves to travel and is sick of being stuck at home, there is welcome news here, too. The C.P.I. includes an airline fares … [Read More...]
What Should I Do With My Big Fat Inheritance?
In an effort to provide for the long-term financial stability of her children, my grandmother bought a large amount of stock in a fossil-fuel company, which she left to my father. I find it heartbreaking that the investment she made and that my father has maintained to provide safety and security is one of the things that is actively moving the planet toward terrible destruction. My father is … [Read More...]