Facing an imploding stock market and the potential for even more widespread economic chaos, the dictatorship ruling mainland China — the top foreign holder of U.S. Treasury bonds — is selling U.S. debt to prop up the Chinese yuan (renminbi), according to news reports. The move, which has long been anticipated by analysts, could have major implications for the American economy and especially the U.S. dollar — particularly if the pace of liquidation were to accelerate. As of now, confusion about the developments is running rampant.
Minimum wage hikes have provided restaurant owners across the country the opportunity to tackle what many have criticized to be unfair tipping practices. Faced with rising labor costs resulting from minimum wage increases, some owners are raising costs on their foods and services and implementing no-tipping policies to help offset the increased costs for their patrons — a change that some owners are actually welcoming.
After reviewing 140 years of data in England and Wales, the consulting firm Deloitte just reported that technology has actually created more jobs than it has destroyed.
On Monday the U.S. Department of the Interior issued a final approval to allow Royal Dutch Shell to start drilling an exploratory oil well in the Chukchi Sea, northwest of Alaska.