Latest news with #economicimpact
CBC
7 hours ago
- Business
- CBC
Atlantic Chamber of Commerce urges feds to do an about-face on immigration policy
The federal government is promising to cut back on some immigration, but the Atlantic Chamber of Commerce says these reductions could have serious impacts on the region. CBC's Sheehan Desjardins spoke with chamber president Rhonda Tulk-Lane to find out why the organization is urging Ottawa to reconsider its cutbacks.
Bloomberg
13 hours ago
- Business
- Bloomberg
Bloomberg Business of Sports: NFLPA Controversies
Join hosts Michael Barr, Damian Sassower and Vanessa Perdomo for a look at some of the latest headlines and stories in the business of sports. New York and New Jersey officials are projecting a $3.3 billion economic boost to the region from hosting the FIFA World Cup in 2026. The region will hold eight matches at Metlife Stadium in New Jersey, including the final on July 19, 2026, expecting to bring in over 1.2 million fans and tourists, according to an economic impact summary released Monday by the NYNJ Host Committee, the local body responsible for organizing the games. Bloomberg News reporter Sri Taylor joins to discuss her reporting on what the highly anticipated games could mean for local economies. Then, Australian yachtsman and CEO of Red Bull Italy's SailGP team discusses the rise of competitive sailing and an upcoming documentary. Plus, the NFL's players association recently found itself embroiled in controversy that led to the resignation of NFLPA executive director Lloyd Howell as well as at least one other executive. Martin Edel, Goulston & Storrs Sports Law Practice co-chair and adjunct professor at Columbia University joins to discuss the latest headlines and potential fallout.
Yahoo
2 days ago
- Business
- Yahoo
New Report Warns U.S. Tariffs on Lumber Could Trigger Systemic Risks Across B.C.
VANCOUVER, British Columbia, July 28, 2025 (GLOBE NEWSWIRE) -- A new report by policy researcher Jerome Gessaroli for Resource Works explores how a significant downturn in British Columbia's forest sector could set off far-reaching ripple effects across the province's infrastructure, economy, and public safety systems. Titled 'Rising US Tariffs on Forest Products and the Systemic Risks Facing British Columbia,' the report looks at how sharply higher U.S. tariffs could accelerate a structural decline in BC's forest industry and expose hidden vulnerabilities in areas that depend on it, including road access, emergency response, Indigenous economic partnerships, and rural tourism. The report's findings are especially timely in light of the United States' recent decision to place tariffs on Canadian softwood lumber of 20.56%, which will intensify pressures on BC's already strained forest sector. 'Forestry in BC has long been more than just timber and mills; it quietly supports infrastructure, rural access, and emergency response in many regions,' said Gessaroli. 'If that foundation erodes, it could trigger disruptions in everything from wildfire suppression to Indigenous economic development. Our aim with this study is to help stakeholders anticipate and plan for those systemic risks.' Among the report's findings: If even 25% of BC's forestry roads go unmaintained due to reduced logging, approximately 125,000 km of backcountry access could be lost through decommissioning or disrepair, affecting remote communities, mining, pipelines, and tourism. Emergency services, including wildfire crews and ambulance access to Indigenous communities, could be impacted. Supply chains for residues used in pulp mills, wood pellets, and agriculture (e.g. livestock bedding) would face severe pressure. Road closures could reduce outdoor recreation and rural tourism, harming small businesses. Indigenous communities face dual challenges: a loss of forestry income and less access to traditional lands and services. 'The loss of forestry is not just a sectoral problem; it's a systems problem,' said Stewart Muir, CEO of Resource Works. 'Roads, services, and local economies across the province are all linked to this industry. This report shows that if policymakers don't plan ahead, we risk avoidable crises in public safety, infrastructure, and rural resilience.' The report was commissioned by Resource Works to support forward-looking dialogue on economic resilience and infrastructure planning amid trade and climate pressures. The full report is available at: About the AuthorJerome Gessaroli is a Senior Fellow at the Macdonald-Laurier Institute and the Montreal Economic Institute. He leads the Sound Economic Policy Project at BCIT and is lead Canadian co-author of Financial Management: Theory and Practice. About Resource WorksResource Works is a British Columbia–based non-profit that advocates for responsible resource development as a foundation for economic prosperity and environmental stewardship. Through research, public education, and community engagement, Resource Works supports balanced solutions that benefit people, the economy, and nature. Media ContactSimon Turner, ph. (672) 833-3775simon@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
3 days ago
- Entertainment
- Forbes
Beyoncé's Cowboy Carter Is Rewriting American Culture — And Boosting The Economy
PARIS, FRANCE - JUNE 24: Beyoncé Knowles / Beyonce wears a cowboy hat, a burgundy faux fur fluff ... More coat on one shoulder, a blue denim shirt, during the Louis Vuitton Menswear Spring/Summer 2026 show as part of Paris Fashion Week on June 24, 2025 in Paris, France. (Photo by) It was a humid night in Houston when Beyoncé Knowles-Carter moved financial markets—a role typically reserved for the Federal Reserve, the president, or Congress. In the 48 hours surrounding her Cowboy Carter Tour stop, the Bayou City raked in more than $50 million in local spending. Hotels and restaurants were booked to capacity. Surge pricing broke ride-share apps. And local boot stores had lines wrapped around the block. No bill was passed. No policy enacted. This boom came courtesy of a Black woman in a cowboy hat, singing and dancing on horseback. The Cowboy Carter Tour, spanning eight cities and 32 stadium shows, is now winding down in Las Vegas. But it has left more than just cowboy boots and hats behind. In every city it touched, the economic glow still lingers. In a time of seismic shifts in the marketplace and the political landscape, Knowles-Carter has become more than a cultural icon—she's an economic force. With Cowboy Carter, the Grammy-winning artist isn't just reclaiming country music's Black historic roots, she's staking a bold claim on American identity itself, all wrapped in the American flag. It's a masterclass in ownership, scarcity, and cultural disruption—with real implications for micro- and macro-economics nationwide. As cities see real economic impact from Beyoncé's presence, cultural economist Thomas Smith argues her tour is a lesson in modern market behavior, civic stimulus, and the future of 'event economics' in divided times. 'Beyonce coming to town gets everyone riled up, and for cities that means folks converge on areas around the stadium and spend bunches of money,' Smith said. 'This makes her concert more than just entertainment, she's an economic event.' LOS ANGELES, CALIFORNIA - FEBRUARY 02: Beyoncé accepts the Best Country Album award for "COWBOY ... More CARTER" onstage during the 67th Annual GRAMMY Awards at Arena on February 02, 2025 in Los Angeles, California. (Photo byfor The Recording Academy) While her work has drawn fierce criticism from the same forces intent on dragging America back to a time when artists were expected to sing, dance, and stay silent about politics, Knowles-Carter has transcended the noise. Thanks to a loyal fan base and her unapologetic embrace of every facet of her identity—mother, daughter, Black woman, global citizen, and soundtrack supplier for the resistance—she remains a cultural force. Knowles-Carter's voice became even more pronounced with the 2016 release of Lemonade, her sixth studio album, which featured the single 'Formation.' She shook the culture and electrified her fanbase during the Super Bowl 50 halftime show, where she appeared in a Black Panther–inspired bodysuit with a golden 'X' emblazoned across the top. Her dancers wore Black berets—a symbol of global Black resistance, from the Panthers in the U.S. to Caribbean revolutionaries like Che Guevara and Fidel Castro. Lemonade landed at a moment of national reckoning—after the murder of Trayvon Martin, amid the rise of #MeToo, and during a surge of high-profile police killings of unarmed Black men. That album became a cultural inflection point, giving voice to demands for both social and political change. It also marked a strategic shift: Beyoncé released the visual album exclusively on Tidal, the streaming platform owned by her husband, Jay-Z. Football: Super Bowl 50: Celebrity singer Beyonce performing during halftime show of Denver Broncos ... More vs Carolina Panthers game at Levi's Stadium. Santa Clara, CA 2/7/2016 CREDIT: Robert Beck (Photo by Robert Beck /Sports Illustrated via Getty Images) (Set Number: SI-123 TK1 ) The album was released with no press, no leaks, and flawless execution, a bold pivot that cemented Knowles-Carter not just as a performer, but as a CEO and cultural entrepreneur. It marked a strategic shift from traditional promotion to surprise drops, using scarcity and precision to meet and shape market demand. More than a response to a cultural moment, Lemonade embodied Knowles-Carter's 'joy-as-resistance' ethos, offering a vibrant counter to a nation that had just elected Donald Trump as its 45th president. While Trump sold grievance and nostalgia for a mythologized 1950s, Knowles-Carter offered a future-facing vision. Still capitalist, yes, but one rooted in diversity, pride, and cultural ownership. Her music, visuals, and merchandise became part of a larger narrative: that joy, style, and identity are not just aesthetic choices, but political acts. Singing about generational wealth, freedom from historical bondage, and the alchemy of turning lemons into lemonade, Knowles-Carter claimed her space as an artist unafraid to challenge, evolve, and expand her audience's worldview. Back on the Cowboy Carter Tour, while promoting music from her second studio album since Lemonade, Knowles-Carter's role in the so-called 'quiet resistance' has been anything but quiet. Leaning into her southern roots and the crucial role of Black Southerners in shaping American culture, the album serves as a reclamation of global Blackness as foundational to country music. According to Francesca T. Royster, author of Black Country Music: Listening For Revolutions, country music originates from a creole musical tradition deeply rooted in African-American styles. 'The banjo, often associated in pop culture as an instrument for white people who live in rural areas, was an African instrument brought here by enslaved people,' Royster says in her book. In 2022, while speaking with Leo Weekly, Royster delved deeply into the history and politics of country music. 'This genre was founded on a kind of logic of segregation,' Royster told Leo Weekly. 'In the 1920s when the genre was kind of invented more or less by talent scouts and record label labels, they were distinguishing hillbilly music as kind of a white music that was meant for white audiences, and 'race' music, you know, blues, rhythm and blues, and jazz for Black audiences.' Reimagining rural America and redefining 'Americanism' beyond the white-centered lens it's so often framed in, the Cowboy Carter tour and album offer audiences a striking new association with the American flag—one draped across the body of a Black woman. The Cowboy Carter Tour's DC stop happened over 4th of July weekend in Landover, MD. While the album isn't explicitly partisan, its iconography subtly reshapes national identity. It points to an America—and a broader Western Hemisphere—built on the backs of Black labor, inspired by Black innovation, and powered by Black ingenuity. When Beyoncé rolled into Houston's NRG Stadium on June 28 and 29, her hometown got more than it bargained and budgeted for. According to Axios, hotels near the stadium hit 79 percent occupancy -- a sharp increase from 61 percent the prior year, OpenTable reported a 43 percent increase in Houston-area reservations over that three-day period compared to the same stretch last year. Beyoncé's economic impact extended well beyond Texas. During her stop in the nation's capital over Fourth of July weekend, restaurants surrounding Northwest Stadium (formerly Fedex Field) in Landover, Maryland saw nightly profit spikes of $15,000 to $20,000. All gains that Tom Smith described as beneficial for local economics. 'You gotta have the boots, you gotta have the shirt, you gotta have the hat,' said Smith, an economist at Emory University. 'You gotta have all the things. It's not even worth—it's not even worth going if you don't have all the things making the concert an economic driver for local business in the region.' Beyond uplifting local business, Smith, a bass guitar player himself, also emphasized the broader importance of the tour economy as a catalyst for the industries that power live entertainment. That includes stagecrafters, electrical engineers, lighting designers, dancers, musicians, publicists, costume designers, and the full teams that support them. 'A lot of those jobs were decimated during the COVID-19 pandemic, when no one was going on tour,' Smith said. 'And now, these big, mammoth tours, these big stadium tours are spending millions of dollars every night on the people that make sure that the sound and the lights and the ancillary element are working.' SYDNEY COLEMAN (L) and JESSICA HANNAH (R) traveled from Houston, TX. Fans of Beyonce queue to enter ... More SoFi Stadium in Los Angeles on April 28, 2025 to watch her first concert of her newTour named "Cowboy Carter." (Photo by Bexx Francois/For The Washington Post via Getty Images) Cowboy Carter is Beyoncé's second U.S. tour since the pandemic. And while it's most definitely different in tone, the financial punch for America's big cities remains the same. It couldn't come at a more convenient time, either, as cities across the country are seeing a decrease in crime and are searching for new sources of revenue amid a cavalcade of budget cuts from Washington, D.C. As Beyoncé's golden horse, floating horseshoe, and many of her now-iconic Cowboy Carter costumes make their way to the storage units, it's likely her economic impact — not just her spectacle — that cities and states will remember. Beyoncé's name was never on the ballot. She never passed a bill or rage-tweeted on X. And yet, her version of disruption has managed to move both culture and the economy. In her song 'American Requiem,' Knowles-Carter asks listeners to confront the complex and often painful history of race and culture in America. It's a counter narrative to today's political moment, one that treats historical truth as a liability. Through it all, Beyoncé may be proving something radically different: that reckoning with the past isn't just necessary, it might also be profitable.
Daily Mail
23-07-2025
- Business
- Daily Mail
Why this picturesque Aussie city could soon be wiped off the map
Thousands of North Queensland jobs could be lost as Swiss mining giant Glencore considers shutting down its operations in Mount Isa and Phosphate Hill. Business advocacy group Townsville Enterprise said the ripple effects could put up to 17,000 jobs at risk across the Northern Queensland economy. Mount Isa, a city with a population of about 20,000 in the state's Gulf Country region, is largely dependent on mining, in particular Glencore's copper and silver-lead zinc facilities. A memo circulated to staff on Wednesday painted a bleak outlook. Glencore's interim CEO warned the company is 'fast reaching the point' where it must place both facilities into care and maintenance unless a rescue deal is reached. 'To date Glencore has been absorbing losses hopeful that a viable solution could be found,' the memo stated. 'However, we are fast reaching the point at which Glencore cannot continue to absorb these losses. We need to know in the coming weeks whether there is a viable solution on the table from governments.' The closure of the two copper operations would directly impact around 550 Glencore workers, with an additional 500 jobs under threat at Dyno Nobel's Phosphate Hill operations. Roland Lobegeiger, field services manager at mechanical firm Isadraulics, said the consequences for Mount Isa would be far-reaching. 'Without it, the town's not going to be here,' he told 'There are other mines, there would be other work in the area, but would the town recover? It's hard to say,' he said. 'It would be a significant change for a lot of businesses, homes, house prices – you name it. It's definitely a bit of a dark cloud over the area. Everyone's still optimistic that they won't shut it down, but no one knows.' Senior Glencore executive Suresh Vadnagra told The Australian the miner was still hopeful of a partnership with government to keep the sites alive, potentially including a public equity stake. 'We have been engaging with government for the past five months,' he said. 'We need to know in the coming weeks whether there is a viable solution on the table from governments or whether we start to planning to transition the copper smelter and refinery into care and maintenance. Time is running out.' Glencore expects the two copper assets could lose billions of dollars over the next seven years, citing rising costs and an increasingly uncompetitive business environment. The warning comes amid broader struggles across Australia's smelting sector. Rio Tinto-owned Tomago, the nation's largest aluminium smelter, is also seeking government support as it battles soaring energy prices and competition from China. Industry Minister Tim Ayres signalled the federal government was open to stepping in, telling The Australian Financial Review. 'The truth is, if these facilities didn't exist, governments would be trying to build them,' he said. Meanwhile, Dr John Coyne, Director of National Security Programs at the Australian Strategic Policy Institute warned the closure could risk national security. 'Without access to local smelting, transport and processing costs will increase, threatening their viability and accelerating the decline of Australia's domestic metals processing sector.' Coyne said. He argued that China, the United States and Europe were moving to secure their own supply chains, in the case of a crisis. 'Australia's failure to think strategically puts its long-term prosperity at risk. Copper demand is expected to double over the next decade' he said.
