American retailers are closing stores at a record pace this year as they feel the fallout from decades of overbuilding and the rise of online shopping. Based on the pace so far, the brokerage estimates retailers will close more than 8,600 locations this year, which would eclipse the number of closings during the 2008 recession.
In a last-ditch effort to survive, bankrupt U.S. solar panel maker Suniva Inc. asked the Trump administration Wednesday to impose trade tariffs on all foreign-made solar cells.
Cities and counties from Portland, Maine, to Los Angeles have successfully passed local minimum-wage increases, but recent resistance in seemingly friendly territory suggests a momentum shift. . . Lawmakers in several other states also are pushing back against local minimum-wage increases. At least four municipalities in Cook County, Ill., have opted out of the county government’s move to raise the minimum wage in the Chicago suburbs to $13 an hour by 2020. Iowa Gov. Terry Branstad, a Republican, approved legislation in March to roll back higher minimum wages already approved in four counties. In Flagstaff, Ariz., council members just amended a minimum-wage increase approved by voters in November to slow the pace of increases.
The U.S. has long held itself out as a nation driven by entrepreneurs and small businesses. Presidents and politicians still invoke that image, and for generations, it was largely accurate. Today, the U.S. has become something different: a nation of employees working for large companies, often very large ones, Theo Francis writes. Huge companies dominate American economic life well beyond employment. They ring up a disproportionate share of sales for goods and services, both to consumers and to other businesses.
Altogether, these and other merchant-transmission projects could cost upward of $17 billion, plus at least a further $20 billion in wind, solar and hydro projects to fill these lines. There are no federal subsidies available for building transmission lines, though wind farm developers are eligible to tap a U.S. tax credit for building new production.