Business & Economy | WOSU Radio

Business & Economy

Updated at 4:10 p.m. ET

The Trump administration is postponing some of its new tariffs on Chinese imports — a significant retreat in the trade war that has rattled financial markets on both sides of the Pacific.

Photographer Johnny Joo photographed an abandoned Rolling Acres Mall with a layer of snow.
Johnny Joo / Odd World Studio

In an effort to understand Ohio, an Akron-based author is traveling around the state. David Giffels believes the key to understanding the country ahead of the 2020 presidential election begins in his own backyard.

His quest continues this month by looking at the realities of Ohio’s economy and the president’s promises to bring jobs back into the area.

Future of Retail

Aug 9, 2019

Big department stores such as Macy's and Sears were once retail empires. 

Now mass closures and layoffs have some business analysts predicting the end of physical retail stores. Other experts disagree, saying that those in retail can stay viable by shedding the dead weight of low-profit stores and focusing on innovation. 

Today on All Sides, the future of retail and where Columbus stands. 

Guests: 

Laid-Off GM Workers Face A Tough Choice: Stay Or Move

Aug 8, 2019
Signs hang from windows at the UAW Local 1112 union hall, Tuesday, Nov. 27, 2018, in Lordstown, Ohio.
Tony Dejak / Associated Press

This spring, just before Easter, Lincoln Fegley’s family and friends gathered at his favorite BBQ restaurant for one last get-together before he started a new job in a new state.

Minority-And-Women-Owned Business In Columbus

Aug 8, 2019
Pexels

Columbus officials announced plans to increase its work with minority-and women-owned businesses after conducting a study of its relationships with diverse partnerships.

The study concluded that black men and women are still underrepresented in city contracts for construction and professional services, which include fields such as law and architecture.

Today on All Sides, the state of minority-and women-owned businesses and how the city is addressing the issue. 

Updated at 4:06 p.m. ET

Stocks continue to tumble around the world Monday after China allowed its currency to slide, in the latest sign of economic tensions between Beijing and Washington.

After falling more than 900 points earlier in the day, the Dow Jones Industrial Average closed down 767 points, a drop of 2.9%. The blue chip index has fallen more than 6% from last month's all-time high, while the S&P 500 index lost ground for the sixth day in a row.

Technology stocks such as Apple and IBM were hit especially hard.

Groveport development director Jeff Green stands on Main Street downtown.
Debbie Holmes / WOSU

City leaders in the small suburb of Groveport want to make-over Main Street, reviving their downtown and draw in more retail and restaurants.

Higher prices will be coming to stores this fall, retailers warn, if President Trump follows through with his threat to slap new tariffs on Chinese imports.

The White House pressed the tariff threat on Friday, even as Trump announced a new agreement aimed at boosting beef exports to Europe. A day earlier, Trump threatened to set a new 10% tariff on $300 billion worth of products imported from China.

Updated at 9:31 a.m. ET

The economy is slowing down, but it keeps creating jobs at a healthy pace. Employers added 164,000 jobs last month, as the unemployment rate held steady at 3.7%, the Labor Department said Friday. The jobless rate remains at a nearly 50-year low.

Analysts had expected about 165,000 jobs to be added in July and the unemployment rate to be 3.6%.

A yard sale stretching from Michigan to Alabama is underway. The annual "World's Longest Yard Sale" draws buyers and sellers from all over to US 127 for four days.

England's largest retailers are now selling 90% fewer plastic bags than they did before a 5-pence plastic bag fee began in late 2015, the U.K. government says. In the past year alone, the retailers' sales fell by nearly half, from more than 1 billion bags to fewer than 550 million.

The statistics come from reports by the seven biggest retailers in England: Asda, Marks & Spencer, Morrisons, Sainsbury's, The Co-operative Group, Tesco and Waitrose.

Updated at 5:06 p.m. ET

President Trump announced Thursday that the United States will impose a new 10% tariff on $300 billion worth of products imported from China, saying Beijing had broken some of the promises it made in trade negotiations.

The new tariffs, which are set to take effect Sept. 1, represent another ratcheting up in trade tensions between the countries and sent stocks falling sharply.

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