标签： North America

In a historic move marking the end of a 230-year tradition, the United States has officially ceased the production of its one-cent coin, commonly known as the penny. The decision comes as the cost of minting each penny has surged to nearly four cents, rendering its production economically unsustainable. The penny, first introduced in 1793, has long been a symbol of American currency but has faced increasing scrutiny in recent years due to its declining purchasing power and rising production costs. Economists and policymakers have debated its relevance in modern commerce, with many arguing that its discontinuation could streamline transactions and reduce unnecessary expenses. While the penny will remain legal tender, its production halt signifies a significant shift in the nation’s monetary landscape. The final minting of the coin was captured in a poignant video, symbolizing the end of an era in US financial history.

Starbucks employees at 65 unionized stores across the United States have initiated a strike, intensifying their campaign for improved wages and staffing levels. The action, organized by Starbucks Workers United, comes after prolonged negotiations with the coffee giant reached an impasse. The union is also demanding the resolution of hundreds of unfair labor practice charges. Talks for a contract agreement collapsed earlier this year, leaving both parties at odds over critical economic issues. Starbucks has downplayed the impact of the strike, stating that fewer than 1% of its stores will be affected, with the majority continuing normal operations. The union, established four years ago, has successfully organized elections at over 600 stores, representing approximately 5% of Starbucks’ company-owned U.S. locations. More than 1,000 baristas in over 40 cities are participating in the strike, strategically timed to coincide with Starbucks’ Red Cup Day, a major sales event. The union has warned that the strike could expand if negotiations remain unresolved. Baristas like Dachi Spoltore from Pittsburgh emphasized the personal stakes involved, stating, ‘Jobs, our livelihoods, our economic security—this might be a game to Starbucks, but this isn’t a game for us.’ The strike, though limited in scope, could draw unwanted attention to Starbucks during a challenging period marked by consumer boycotts, rising competition, and leadership turmoil. New CEO Brian Niccol, who joined last year, has implemented a ‘Back to Starbucks’ strategy, including stricter policies and a $500 million investment in staffing and training. However, baristas argue that these changes have increased their workload without addressing staffing shortages. Union leaders acknowledge some progress in relations but highlight persistent disagreements over pay and unresolved labor charges. Starbucks has criticized the union for stalling talks, claiming that its demands would disrupt store operations. Despite the company’s assertions of offering competitive wages and benefits, baristas remain steadfast in their fight for fair treatment and livable wages.

Dubai has solidified its position as a pivotal hub for American investments, supporting approximately 184,000 jobs in the United States, according to UAE government estimates. This significant figure underscores Dubai’s growing role as a gateway for US businesses expanding into the Middle East, Africa, Central Asia, and beyond. The findings were highlighted during the Dubai Business Forum – USA in New York, which attracted around 700 attendees and showcased the deepening economic ties between Dubai and the US. A report by Dubai Chambers further revealed that trade between the two regions has surged, with Dubai’s exports to the US increasing by 76% from $5.2 billion in 2018 to $9.3 billion in 2024, while imports grew by 34% to $22.3 billion. Over the past decade, the US has become Dubai’s top source of foreign direct investment (FDI), with $21.7 billion channeled into 1,474 projects across sectors such as tourism, IT, business services, and communications. Dubai’s strategic advantages, including its world-class logistics, connectivity, and business-friendly policies, have made it an attractive destination for American companies. Additionally, Dubai’s leadership in digital transformation and blockchain regulation has drawn significant interest from US tech firms and entrepreneurs, further cementing its status as a global innovation hub.

Dubai Chambers has unveiled its inaugural office in New York City, marking a significant milestone in strengthening economic and investment ties between the United Arab Emirates (UAE) and the United States (US). The announcement, made during the Dubai Business Forum-USA, highlights Dubai’s growing global influence and its strategic ambition to serve as a bridge between Eastern and Western markets. This move aligns with Dubai’s broader vision to channel $1.4 trillion in planned investments across emerging sectors, positioning the New York office as a pivotal hub for fostering international business opportunities. Eng Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, emphasized that the office will deepen engagement with US businesses and investors, leveraging New York’s status as a global financial capital. The city’s proximity to major markets like Canada and Mexico, coupled with its concentration of multinational corporations, makes it an ideal location for Dubai’s expansion. The office will facilitate easier access for US companies to explore Dubai’s business potential while serving as a gateway for Emirati investors in the US. Notably, 787 new US companies joined the Dubai Chamber of Commerce in the first nine months of 2025, bringing the total number of active American members to 3,690. This surge underscores Dubai’s increasing appeal to the American business community. Dubai’s foreign direct investment (FDI) reached $14.2 billion in 2024, cementing its position as a top global destination for new projects. The city’s business-friendly environment, characterized by zero personal income tax, over 200 global flight connections, and thriving sectors like fintech, clean energy, and digital innovation, further enhances its attractiveness. Al Mansoori highlighted the potential for strategic partnerships in high-growth sectors, including the digital economy, infrastructure, oil, and gas. He also reiterated Dubai’s ambition to become a global leader in artificial intelligence (AI), citing initiatives like the AI-driven expansion of Dubai’s airport and DP World’s BoxBay automation system as examples of innovation in action. With a focus on fostering bilateral trade and investment, the UAE-US partnership is poised for continued growth, driven by emerging technologies and shared economic goals.