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- Zero hours crackdown could cost firms up to £2.9bn a year
Labour's employment rights bill crackdown on zero hours contracts could cost businesses up to £2.9bn a year, new official analysis has found. [TheTopNews] Read More.23 mins ago - Dallas emerges as magnet for wealthy buyers as high taxes weigh on luxury market...
Wealthy homebuyers are increasingly looking to lower-tax, business-friendly states such as Texas as taxes and regulation play a bigger role in where affluent Americans choose to live and invest, according to Mauricio Umansky, founder and CEO of global brokerage The Agency."That trend is definitely happening," Umansky told FOX Business of affluent residents leaving high-tax blue cities and states. "… But not only tax friendly — business friendly."Umansky, whose firm has 170 offices across 17 countries, said policies that raise the cost of owning or selling high-end real estate are affecting luxury markets.He pointed to New York City’s pied-à-terre tax and Los Angeles’ Measure ULA, commonly known as the "mansion tax," as examples.THE MILLION-DOLLAR HOME IS BECOMING SURPRISINGLY NORMAL"The pied-à-terre tax is really hurtful," Umansky said. "In Los Angeles, we have the ULA tax, which is very hurtful."Those policies are helping redirect some wealth toward markets including Texas, he said."You are seeing a lot of the wealth go, and they’re going to places like Dallas, Texas," Umansky said. "You’re seeing a lot of growth there. So there’s a shift."Texas is not the only market drawing interest. Umansky said buyers with greater flexibility are considering other parts of the country, including the Southeast, as remote work gives them more freedom over where they live.Still, Umansky said the movement of wealth does not mean traditional luxury strongholds such as California and New York are collapsing."We’re definitely seeing a trend of exodus, but still growth," he said, describing the market as a "very mixed" picture.FLORIDA ENCLAVE DETHRONED AS SILICON VALLEY AI BOOM LIFTS CALIFORNIA ZIP CODE TO NO. 1Los Angeles is beginning to show signs of recovery at the high end, Umansky said, as sellers become more flexible on pricing and buyers begin making offers.The Hamptons also remains strong, while California continues to generate significant wealth, including from the artificial intelligence boom. Both California and New York remain critical economic engines despite some residents looking elsewhere, Umansky said.Umansky added, "I think it's super imperative for our country that we continue to protect California and New York."His comments come as New York City faces scrutiny over its new pied-à-terre tax on luxury second homes, including recent criticism from billionaire investor Bill Ackman and Citadel founder Ken Griffin.President Donald Trump argued in a Truth Social post Tuesday that the tax could ultimately cost the city more than it generates if wealthy property owners and taxpayers relocate… [TheTopNews] Read More.60 mins ago - What We Know About Taylor Farms’ Food Recalls
Just weeks after the company recalled lettuce and other produce suspected of being tainted by the cyclosporiasis parasite, it recalled jalapeños linked to a salmonella outbreak. [TheTopNews] Read More.2 hours ago - America Wants to Make Its Own Humanoid Robots. That Won’t Be Easy.China already manufactures humanoid robots by the thousands. A new generation of U.S. start-ups is betting that there is still time to compete. [TheTopNews] Read More.2 hours ago
- The Golden Age of Mexican Food Is Here. And It’s Complicated.Even at a time of anti-immigration politics, there has never been a richer variety of Mexican restaurants in the United States. [TheTopNews] Read More.2 hours ago
- UK economic growth slows between April and JuneThe UK economy grew by 0.4% with some firms reporting hot weather and sports helped growth in June. [TheTopNews] Read More.5 hours ago
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