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Andrew Rigie, executive director of the New York Hospitality Alliance, says that restaurants and bars face COVID-related unique problems.

Business Insolvencies Hit 3-Year High, Hospitality And Construction Sectors Struggle Most: Report

The rate of business failure increased to 5.04% in October, the highest level since the peak of the COVID-19 pandemic in 2020, when it was 5.08%. Meanwhile, the annual insolvencies recorded about 25% higher than before the pandemic.

RBA Holds Interest Rates Steady, Signals Readiness To Act Amid Economic Shifts
Cost-Of-Living Crisis: Older Australians Weather Economic Downturn Better Than Youth, Data Reveals

AI-Driven Cyber Scams 'Real And Present Threat' To Australia's Critical Infrastructure
State-sponsored hackers were leveraging AI's popularity to infiltrate computer systems of businesses and organizations and then sitting dormant to remain undetected, the Australian Signals Directorate (ASD) said in a report.
Australia's Gender Pay Gap Narrows Slightly, Women CEOs Still Earn 25% Less Than Men
The current gender pay gap is 21.8%, meaning women earn 78 cents for every dollar earned by men, resulting in an average annual income difference of AU$28,425 less for women.
Trump Appoints TV Celebrity 'Dr. Oz' To Key US Health Post
Donald Trump announced Tuesday that he was appointing Mehmet Oz, a former surgeon and TV celebrity known as "Dr. Oz," to lead the United States' massive public health insurance program.
US Envoy Presses Israel-Hezbollah Truce Bid In Lebanon Visit
US envoy Amos Hochstein was in Lebanon Wednesday, seeking to hammer out a ceasefire in the war between Israel and Hezbollah, as the militant group battled Israeli troops in the south of the country.

Western Powers Move To Censure Iran At UN Nuclear Meet

European powers and the United States have submitted a resolution censuring Iran for its poor cooperation with the UN nuclear watchdog, diplomats told AFP on Wednesday, as Tehran warned of a "proportionate" response if it passes.

WAR IN UKRAINE

Moscow and Kyiv are jockeying to secure an upper hand on the battlefield ahead of Trump assuming office in January 2025

Kremlin Says US 'Doing Everything' To Prolong 'War' In Ukraine

Russia on Wednesday accused the US of prolonging the "war in Ukraine" by stepping up weapons deliveries to Kyiv ahead of Donald Trump's return to the White House.

Economy in Focus

Stock Markets Gain, Dollar Higher Before Nvidia Earnings
Major European and Asian stock markets mostly gained and the dollar firmed against main rivals Wednesday following a positive lead from Wall Street, as all eyes turned to upcoming results from artificial-intelligence giant Nvidia.
Walmart Lifts Full-year Forecast After Strong Q3
Bunnings' Facial Recognition Technology Breached Thousands' Privacy, Watchdog Finds

More News

RBA Holds Interest Rates Steady, Signals Readiness To Act Amid Economic Shifts
As underlying inflation remained "too high," RBA noted that it wanted to see consistent inflation data before considering a rate cut, to ensure any decline was sustainable.

Japan Ramps Up Tech Ambitions With $65 Bn For AI, Chips

Japan is readying a $65-billion push in microchips and artificial intelligence aimed at reclaiming its status as a global tech leader and meeting the urgent challenges of its ageing, shrinking population.