Latest news with #businesses
Yahoo
38 minutes ago
- Politics
- Yahoo
Photos of downtown Los Angeles after mayor lifts curfew imposed during protests
LOS ANGELES (AP) — Downtown Los Angeles businesses are hoping customers will return after Mayor Karen Bass lifted a curfew she had imposed last week to prevent vandalism and break-ins during nighttime protests against President Donald Trump's immigration crackdown. The curfew set in place June 10 provided 'successful crime prevention and suppression efforts' and protected stores, restaurants, businesses and residents, the Democratic mayor said Tuesday. It covered a relatively tiny slice of the sprawling city. ___ This is a photo gallery curated by AP photo editors.
Bloomberg
an hour ago
- Business
- Bloomberg
Thriving Southern Cities Face Economic Threat From Funding Cuts
Economics North Carolina's Research Triangle shows how federal efforts to curb spending are unleashing economic uncertainty in communities across the US. The same economic anchor that propelled North Carolina's Research Triangle into one of America's most thriving economies now risks becoming a liability. Major academic institutions in the community have helped lure businesses of all sizes — and the jobs that come with them — to Raleigh, Durham and Chapel Hill, transforming an economy once reliant on industries like tobacco and textiles into a leading science and technology hub.
Sky News
4 hours ago
- Business
- Sky News
'Inflation and customer cutbacks' blamed for big dive in retail sales
Retail sales volumes suffered their largest monthly fall since December 2023 last month, according to official figures which suggest a link to rising bills. The Office for National Statistics (ONS) reported a 2.7% decline in the quantity of goods bought in May compared to the previous month. The body said its interaction with retailers suggested " inflation and customer cutbacks" accounted for the fall, which was across all categories, but led by food. The seasonally adjusted data - which reflects the effects of holidays - means that those for Easter are modified to give a clearer picture of sales trends. A poll of economists by the Reuters news agency had expected to see a decline in volumes of just 0.5% in May following April's growth of 1.3%. May was the month when households would have noticed the hit from the so-called 'awful April' above-inflation hikes to essential bills, including council tax, water, mobiles, broadband and energy. Retail sales growth had proved to be resilient this year until May but April brought a number of additional curveballs to confuse sentiment and place pressure on the economy generally. 2:01 Donald Trump's "liberation day" tariff regime kicked in while Budget measures, including rises to minimum pay levels and employer national insurance contributions (NICs), also placed additional costs on businesses. Retail is the UK's largest private sector employer. It had threatened higher prices and hits to hiring and wage growth ahead of the tax take coming into effect. While the inflation picture for May was largely flat, the ONS reported last week employment data showing a tick up in the unemployment rate to 4.6% in the three months to April. Figures from the taxman also showed a 109,000 decline in payrolled employment during May. Further data from the ONS on Friday revealed a £1.8bn jump in additional "compulsory social contributions" - largely made up of NICs - in May. It took the extra tax take to a record £30.2bn across April and May but borrowing still surged to £17.7bn last month, the second highest figure on record for May, the ONS said, as the chancellor bids to grow the economy within tight fiscal rules. Consumer spending accounts for around 60% of UK output. A closely-watched measure of consumer confidence covering June showed no rise in consumers' expectations for spending on so-called big ticket items. The GfK survey was taken after the UK's trade truce with the US but before Israel's air war with Iran began. That has pushed oil and natural gas prices up by double-digit percentage levels in under a week, threatening a new energy-led cost of living threat. It's another challenge that retailers, businesses more widely, and Rachel Reeves could do without. Thomas Pugh, economist at audit firm RSM UK, said: "Looking ahead to the budget in the autumn, the under performance of the economy and higher borrowing costs mean the chancellor may already have lost the £9.9bn of fiscal headroom that she clawed back in March. "Throw in the tough outlook for many government departments announced in the spending review and U-turns on welfare spending and the chancellor will probably have to announce some top-up tax increases after the summer."
Irish Times
7 hours ago
- Business
- Irish Times
Economic concerns growing across the island, warns InterTrade Ireland
Concerns about the state of the economy in the coming months have risen sharply since the beginning of the year among businesses on the island of Ireland, but especially in retail and construction, according to a new survey. The InterTrade Ireland poll found that 32 per cent of retail businesses admit to growing anxiety during the first three months of the year, compared with just 15 per cent in the last quarter of 2024. Nerves have worsened, too, in construction, with 24 per cent now concerned, compared with 13 per cent in Q4 of 2024, while 23 per cent of manufacturing firms have concerns, up from 9 per cent, 'likely reflecting cost pressures and market volatility'. One in eight construction firms are seeing orders contract, up by nearly two-thirds in just months, while fewer are seeing their sales grow. Concern is also growing about late payments. READ MORE By comparison, however, hospitality, hotel, leisure and catering businesses across the island are less worried, having risen from 10 per cent to 14 per cent, but it 'still points to growing unease', InterTrade reports. [ US tariffs could punch €18bn hole in public finances, Central Bank warns Opens in new window ] Though hospitality 'is rebounding', with both growth and staffing numbers up, sentiment about the future is 'softening', said InterTrade Ireland, the all-island enterprise support agency. Of all sectors, professional services – accounting, consulting and so on – are the calmest, with just a single percentage point of increase in their concern about the business climate in coming months. Describing the headline figures across all questions as 'broadly positive', Newry-based InterTrade Ireland said 'a closer look reveals a more complex and uneven economic landscape'. 'Ireland continues to post strong headline growth, largely driven by exports, but domestic demand is softening amid rising global uncertainty,' it said, adding that Northern Ireland 'remains relatively resilient', outperforming the United Kingdom average. Businesses on both parts of the island are facing 'historically tight' labour markets, but 'early signs of softening' are appearing. Unemployment in the Republic is steady at 4 per cent, but in Northern Ireland it is 'just 1.8 per cent, one of the lowest on record'. However, subtle shifts are appearing in both parts of the island, with an increasing number of people not being economically activity – an issue that Northern Ireland has struggled with for decades. Unprompted, just under 40 per cent complained that too many new workers have 'a different attitude to work', while a similar number complain that students are not leaving colleges with the skills they need.
Yahoo
8 hours ago
- Business
- Yahoo
Market Square businesses in Pittsburgh face construction challenges
Construction in Market Square downtown is expected to be completed ahead of the 2026 NFL Draft in Pittsburgh. Businesses in the square have to navigate the constant construction, which is impacting foot traffic and signage. The owners of Love and The Original Oyster House hope that the community will continue to support Market Square businesses through the project.
