Fading US risk-taking culture not a good sign for jobs and economy
New York
AMERICA means business - or used to. Time was, anyone with a good idea and some startup money could take a chance and open a business. That risk-taking spirit kept millions of middle-class Americans upwardly mobile, with jobs that let them buy homes, raise families, send the kids to college and retire comfortably. That's less true today.
Americans are starting fewer businesses, even in Silicon Valley. Established companies aren't reinvesting profits, instead spending almost all their earnings on dividends and share buybacks. Unless your company looks like the next Uber, financing is also harder to find, whether from banks, venture capitalists or the markets.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations