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Business News

News outlets slash jobs as business suffers

Nearly a dozen mainstream media companies are gutting staff and scrambling to rescue their struggling businesses.

Why it matters: The media business is shrinking at the national, state and local levels — a scary, stark new reality for thousands of journalists.

The big picture: Media cuts were so severe last year that most industry observers weren’t expecting such intense cutbacks in 2024. But an ongoing bloodbath is decimating news outlets nationwide.

  • It’s also fueling a new round of conflict between unions and management as tensions run high.

Driving the news: Forbes’ newsroom union began a three-day walkout Thursday arguing management

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Business News

New policies and business approaches are needed to support scaling up of CCUS to help achieve net zero goals – News

Momentum behind carbon capture, utilization and storage (CCUS) is reaching unprecedented levels, but implementation continues to lag behind, a new IEA report finds.

With over 400 new carbon capture, utilization and storage (CCUS) projects announced globally in the past three years in more than 45 countries, the IEA’s new toolkit sets out the policies that can turn developer ambitions into reality.

The report, CCUS Policies and Business Models – Building a Commercial Market, finds that new business models for CCUS are emerging, driven by new players entering the market. This is reshaping the framework for future CCUS projects and

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Business News

2023 was the worst year for the news business since the pandemic

Although layoffs in journalism are nothing new, the end of 2022 suggested that the media industry was headed for tough times.

As the holiday season approached, CNN laid off hundreds of employees. Gannett, the country’s largest newspaper chain, cut its news division by 6%. The Washington Post, NBCUniversal and ABC News all announced layoffs for early 2023.

What followed has been a bloodbath. Although data from December is not yet available, the news industry has already seen more job cuts this year — 2,681 — than all of 2022 or 2021, according to employment firms Challenger, Gray and Christmas. The

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Business News

This business owner brought most of his manufacturing home from China — and feels punished for it

A Canadian company that manufactures children’s toy couches finds itself facing a stiff bill for import tariffs after bringing production home to this country.

While Barumba Play is no longer importing a majority of its product, a single component of the couches has been reclassified by the Canada Border Services Agency and is no longer tariff-free.

The company’s flagship product is a couch for children made of pieces that can be easily taken apart and reassembled for play. Sara Feldstein founded the company in Markham, Ont., in 2021 and initially produced the couches entirely in China.

As the couches were

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