Marty Cantor, CPA and economic development consultant, joined Cheddar News to discuss the landscape of the retail industry. With cornerstone department stores like Bed, Bath and Beyond and Party City filing for bankruptcy, Cantor said "people are just running out of money." He said discretionary spending is halting as the cost of other goods and services increases, ultimately impacting the bottom line of major retail giants.
According to an EU tax watchdog, a 2021 agreement aimed at weakening tax havens and getting multinational corporations to pay minimum tax has been weakened by loopholes.
