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Antioch mayor says city should take action against owners of empty, blighted…

Many in Antioch have had just about enough of the longtime, blighted, boarded-up storefronts that have become magnets for trash dumping, drug use and other illicit activities. Antioch Mayor Lamar Thorpe for one is proposing the city do what it can legally to clean up these eyesores where city code enforcement and fines have not worked, an idea he pitched at a press conference Tuesday and later again at a City Council special workshop he called afterward. “Today this corridor is an iconic symbol of decades of economic decline, neglect and disinvestment as the city has bulldozed its way into southeast Antioch,” Thorpe said, standing…

The Latest Bankruptcy Suggests the Worst Is Not Over in China’s Economy

China, to put it simply, is a wild card in 2024. The troubles of Zhongzhi Enterprise Group highlight the ongoing crisis in the Chinese economy. With Zhongzhi filing for bankruptcy due to liquidity issues and an inability to repay debts, echoes of the Evergrande and Country Garden crises resurface, indicating a systemic problem within China’s real estate sector. Real estate has traditionally been a cornerstone of the Chinese economy, contributing to roughly one-third of its GDP. However, the sector has been experiencing a decline, characterized by a reduction in commercial projects, an increasing number of vacant properties, and a…

How to protect workers from the future

Forecasting the future is hard. But almost every forecast regardless of the topic involves a bumpy ride ahead for Aussie workers. Our transition towards net zero emissions and the materialisation of climate risks will create new jobs for some and destroy jobs for others. Technological change will do the same. Advances in technology have historically replaced low-skilled jobs. AI promises to do the opposite: impacting higher skill jobs held by those who had to go to university. Throw in some trade wars, some geopolitical disputes, lots of industry policy, manufacturing subsidies and trade protections, and the outlook for workers…

Goldman Sachs Is Souring on ETSY Stock

Shares of online marketplace Etsy (NASDAQ: ETSY ) — which specializes in handmade, vintage and craft supplies — slipped noticeably on Wednesday. The red ink follows Goldman Sachs downgrading ETSY stock due to concerns about consumer discretionary trends. While a worrisome prospect, investors should look at the broader context before making a final decision. According to a Seeking Alpha report, Goldman analyst Alexandra Steiger downgraded ETSY stock to “neutral” after previously rating it a “buy.” Specifically, the expert warned that Wall Street estimates already fully price in Etsy’s growth potential in the years ahead. Based on…

US debt rating at risk in 2024 because of soaring deficit, political…

Credit rating agency Fitch said Wednesday it expects US fiscal deficits to remain high this year, and that fiscal policy and governance implications of the presidential elections will be key issues for the country’s sovereign rating. Fitch last year downgraded the US government’s top credit rating to AA+ from AAA , citing fiscal deterioration and repeated down-the-wire debt ceiling negotiations. A major near-term shift to deficit reduction measures is unlikely because of political polarization, said Shelly Shetty, head of Americas Sovereign Ratings at Fitch Ratings, in a webinar on Wednesday. The US debt rating would be hurt by a …