The restaurant industry is facing dire straits.
Labor costs, one of the biggest expenses for the industry, are on a steady rise. Sales are declining, and companies are resorting to discounts and incentives to get customers in the door.
Despite all this bad news, one thing is keeping the business afloat: Food is cheap.Join the conversation about this story »NOW WATCH: We asked a Navy SEAL what he ate during training, and his answer shocked us
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One thing is keeping the restaurant industry from falling apart
-
This is what the next flash point in the South China Sea looks like
Perhaps the most significant portion of the Permanent Court of Arbitration's July 12 500-page unanimous ruling on the South China Sea is the decision on Mischief Reef.
According to the ruling, the reef and everything on it legally belongs to the Philippines. This is in spite of China's reclamation of approximately 5,580,000 square meters of land, and the construction of a 9,800-foot runway, radar nests, and what some experts have speculated is a soon-to-be naval bas -
There's a huge piece of evidence that the US economy is headed for a slowdown
Credit keeps the US economy moving.
Loans allow businesses to build factories and hire workers, for people to buy homes, and for developers to build retail spaces. So when the spigot of credit gets shut off, the US economy tends to seize up.Join the conversation about this story »NOW WATCH: This lunch box for adults could change the way you eat -
The 10 best colleges for a job on Wall Street
Ever wonder where Wall Streeters come from?
It turns out that many of them — at least the ones based in New York City — went into finance from one of 10 schools.
That's according to Emolument, a salary benchmarking website that collects self-reported pay data.
Emolument surveyed 2,800 NYC-based front- and back-office investment banking professionals. It did not include staff like those working in HR or communications.
Here are the top colleges.SEE ALSO: A step-by-step guide -
Investors keep ignoring catastrophically disappointing Tesla earnings (TSLA)
Tesla reported catastrophically disappointing second-quarter earnings last week, but in typical fashion, the market shrugged them off.
Shares continue to hover around $230, after having climbed back from a huge dip in early 2016 that saw them plummet to near $150.
On Wall Street, everyone is reassessing their investor relationship with Elon Musk's electric-car maker — especially now that Tesla has decided, through the $2.6 billion acquisition of SolarCity, to transform itself into a full-s -
The famed Olympic torch relay was actually created by the Nazis for propaganda
On August 1, 1936, Nazi dictator Adolf Hitler opened the 11th Olympic Games in Berlin, Germany.In doing so, he inaugurated what is now a famed ritual of a lone runner bearing a torch carried from the site of the ancient games in Olympia, Greece into the stadium.
"The sportive, knightly battle awakens the best human characteristics. It doesn’t separate, but unites the combatants in understanding and respect. It also helps to connect the countries in the spirit of peace. That& -
The CEO of one of America's largest gunmakers went after Hillary Clinton during his company's earnings call
One of America's biggest gunmakers is joining the 2016 political fray.
Michael Fifer, CEO of Sturm, Ruger & Co., took a strong political stance on Wednesday during the company's earnings call.
In addition to advocating support for the Second Amendment, Fifer also pledged large donations to the National Rifle Association, said the company will urge customers to call their congressional representatives, discussed the composition of the Supreme Court, and attacked Democratic presidential nomine -
Colombia has finally ended a 52-year war, but the price of peace will be high
After 52 years of conflict, Colombia's government and the left-wing rebels of the Revolutionary Armed Forces of Colombia (FARC) signed a ceasefire deal earlier this year, bringing to a close one of the world's longest-running wars.
But while the FARC rebels have agreed to lay down their arms, keeping that peace deal alive economically has gotten more difficult.
"I would say ... the whole peace process has become substantially more complicated because of the economic environment that Colombia fi -
Tech dealmakers are partying like it's 2000
Good news for tech bankers.
Revenue from tech mergers and acquisitions, or M&A, has hit its highest level since the height of the dot-com bubble.
Global tech M&A revenue has reached $1.9 billion this year, according to Dealogic. The only year when it was higher over the same period was 2000, when it hit $2.2 billion.
This year's total is up from $1.7 billion in the same period in 2015 and $1.4 billion in 2014.
The biggest beneficiary is JPMorgan, which leads league tables in tech M&A -
The jobs report leaves out a huge part of the economy
The US jobs report excludes a huge part of the economy, even when the number of new payrolls trumps expectations.
That part is the so-called gig economy, made up of workers who earn money by completing jobs on-demand by themselves or with companies like Uber, Airbnb, and TaskRabbit.
MBO Partners, a company that provides enterprise software to the firms that employ independent workers, estimated that there were nearly 40 million independent workers over the age of 20 in 2015.
But many of the new -
2 senior bankers share how they compete on Wall Street — and in the toughest races on earth
In 2007, Kristin DeClark ran two ultramarathons: One 34 miles long, the other 50 miles up a ski hill in Vermont — an 8,000-foot elevation change — with water stops only every 8 miles.
That race took DeClark, who was a vice president at Credit Suisse at the time, more than 11 hours to complete, and only one of the six people she trained with beforehand finished.
But the real challenge for the up-and-coming investment banker that year was finding time amid her demanding work sched -
The Olympics aren't going to save Brazil
The Olympics aren't going to save BrazilJoin the conversation about this story »NOW WATCH: Here’s an easy way to unshrink your clothes -
Some of Wall Street's biggest names have their eye on your savings
Apollo. Blackstone. Carlyle.
They are some of the biggest names on Wall Street, managing $720 billion between them. They buy and sell companies on an almost weekly basis, and own national brands like Hilton Worldwide, Getty Images and Norwegian Cruises.
They've made their backers a fair few dollars. On average, alternative-investment firms have delivered 13% a year in returns for their backers over the past five years.
They've also historically been the preserve of only the biggest investors, ty -
You're the reason the stock market is hitting record highs
There is lots of negative news out there right now.
From Brexit to China to oil to Turkey to the rise of populism, you'd think there are plenty of reasons for the stock market to fall back from record highs. Yet the market marches on, confounding hedge funds that are betting on a decline.
Caerus Investors, a small New York-based hedge fund, just released its second-quarter letter, and Business Insider got its hands on a copy.
The fund runs through all of the various challenges the market faces b -
Nigeria's not yet ready to make 'a devil's bargain'
Nigeria announced on Monday it resumed payments to former militants in its oil-rich Niger Delta region, according to a Bloomberg report.
The payments of 65,000 naira per month (about $204) to about 30,000 ex-militants were stopped back in March amid lower oil prices.
In light of the news, some folks quickly penciled in a return of Nigerian oil. Production has fallen to a near 30-year-low amid on-going attacks by the newest militant group in the region, the Niger Delta Avengers.
However, given th -
What you missed: The biggest business stories of the week
We just had a big week of business news.
There were two big deals announced on Monday involving Uber and Tesla, a big call from the biggest hedge fund in the world, and blowout jobs numbers on Friday.
SeaWorld was crushed after reporting a disastrous attendance drop, a European banking dynasty made a big move on Wall Street, and JPMorgan chief Jamie Dimon put America's standing in the world in perspective.
Here are the top business stories of the past five days:
U -
Three60 Recruitment: Content / Asset Executive - Marketing Agency - Birmingham
£17,000 to £20,000:Three60 Recruitment:
We need a digital enthusiast to join this integrated agency in Birmingham as a Content / Asset Executive and work on a powerhouse of a global brand!
Birmingham, West Midlands -
Don't move to any of these 13 cities if you want a big starter home
You've heard of tiny houses, the small homes, sometimes on wheels, whose occupants have to creatively build to live comfortably.
Most first-time homebuyers aren't looking for a tiny home when they first set out, but buyers in the following cities may end up with one anyway.
Trulia.com gathered a list of the cities with the smallest starter homes. These cities are spread across the US, and even though size isn't everything, it is nice to have a bit of elbow room.13. Denver
Median Starter Home Siz
11 Aug 201610 Aug 201609 Aug 201608 Aug 201607 Aug 201605 Aug 201604 Aug 201603 Aug 201602 Aug 201601 Aug 2016
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