Business

Andre Rouhani and Gabriela Reyes decided to move into Culdesac Tempe, a car-free neighborhood outside of Phoenix, despite the lack of resident parking. Modeled after European towns, the development offers a walkable lifestyle with retail shops, apartments, and no cars, promoting community connection and sustainability. Residents like the slower pace, sense of support, and opportunities for social engagement, signaling a potential shift towards more car-free developments in the future. Full Article

Consumer confidence in the US has plummeted due to anxiety over the Trump administration's trade policies and government cutbacks, with the short-term economic outlook hitting a 12-year low. Tariffs on trading partners are expected to increase inflation, leading to a recent stock market sell-off and decreased consumer spending. Executives are warning of a potential pullback in spending, as uncertainty about tariffs continues to impact consumer sentiment and economic outlook. Full Article

House prices in the UK have seen a modest increase, with figures varying between different sources such as Zoopla, Halifax, and Nationwide. Regional variations in price growth are notable, with different areas experiencing different rates of increase. Affordability, rising costs, and changing regulations are impacting the housing market, leading to a potential shift in buyer behavior and investor sentiment. Overall, the future of the UK housing market remains uncertain, with factors such as population growth, immigration policies, and building costs playing a significant role in shaping the market's direction. Full Article

International travelers' reactions to U.S. tariffs may result in up to $18 billion in lost revenue for hospitality businesses, with potential for even greater losses if U.S. travelers decide to cancel domestic travel plans due to rising prices. This significant impact highlights the potential economic consequences of tariffs on the tourism industry, emphasizing the importance of finding solutions to mitigate financial losses and maintain traveler confidence. Full Article

The White House is embroiled in a scandal over a Signal group chat discussing sensitive US military operations in Yemen, involving top officials like national security adviser Mike Waltz and defense secretary Pete Hegseth. US vice-president JD Vance criticized the air strikes as a bailout of Europe, sparking shock and embarrassment in Washington. Despite calls for accountability, it remains unclear if law enforcement will investigate the breach, with conflicting statements from senior intelligence officials like Tulsi Gabbard and John Ratcliffe downplaying the incident and emphasizing the approved use of Signal for coordination among officials. Full Article

Entrepreneur Michel Falcon overcame shame of his Peruvian roots to launch Brasa Peruvian Kitchen, aiming to popularize Peruvian cuisine in North America through a modern, fast-casual concept. His dedication to sharing Peruvian culture extends beyond food, offering a hotline service to educate customers on Peru's tourism, art, and history. Falcon prioritizes employee retention by paying higher wages, inspired by Netflix's talent density model, in his mission to empower his team and close the income equality gap. Full Article

Starbucks recently laid off over 1,000 corporate employees, reflecting a troubling trend of higher unemployment rates and slower wage growth for white-collar workers. The shift in the job market has been attributed to the economic impact of the pandemic, advancements in artificial intelligence, and government policies targeting federal agencies supporting white-collar jobs. Industries like video games and finance have experienced layoffs, while the tech sector has seen increased automation leading to job cuts. The future of white-collar work remains uncertain, with concerns about permanent declines and the impact of evolving technology and government actions on employment rates. Full Article

A recent report by the American Society of Civil Engineers highlighted the positive impact of increased federal spending on U.S. infrastructure, resulting in improved ports, roads, parks, and public transit. However, the report warned that progress could stall if investments are not sustained, with a projected $3.7 trillion funding shortfall over the next decade. Despite receiving a mediocre C grade overall, infrastructure showed improvement in nearly half of the 18 categories tracked, with ports and rail leading the way. The report emphasized the need for continued investment in infrastructure to support economic growth and create American jobs. Full Article

Han Jong-Hee, the co-chief executive of Samsung Electronics, passed away at the age of 63 due to a sudden heart attack. With almost four decades of experience at Samsung, Mr. Han oversaw various business units, including consumer electronics and digital appliances, and played a key role in the company's success in the global market. He joined Samsung in 1988 during a crucial period of transition and growth after the death of the company's founder, Lee Byung-chull, and leaves behind a legacy of innovation and leadership. Full Article

China is considering including services in a subsidy programme to boost consumption, in addition to existing trade-in schemes for goods, as the economy struggles with weak domestic demand. With a record trade surplus and deflationary pressures, policymakers are looking to rebalance the economy towards more sustainable consumption. Despite concerns about pulling forward demand, efforts to stimulate consumption through services may be gradually introduced at both national and local levels. Full Article