Category: Finances

‘People Who Are Salaried Are Crying’: Taxes on Workers Add to Debt Misery

Increased payroll taxes are one element of a desperate bid in Kenya to keep the government running and pay off the country’s foreign creditors.
The National Endowment for the Arts Begins Terminating Grants

The endowment told arts organizations that it was withdrawing or canceling current grants just hours after President Trump proposed eliminating the agency in the next fiscal year.
Trump Seeks to Eliminate the National Endowment for the Arts

The president’s budget proposal also called for getting rid of the National Endowment for the Humanities and the Institute of Museum and Library Sciences.
John Thornton, Venture Capitalist Who Founded The Texas Tribune, Dies at 59

An idealist, he founded The Texas Tribune, a model for nonprofit grass-roots news organizations nationwide, and the American Journalism Project, which supports them.
The Brooklyn Academy of Music Is Fighting to Regain its Mojo

America’s oldest performing arts venue does not draw the attention or audiences it once did. Now it has lost another leader as it works to adjust to an uncertain future for cultural institutions.
Guggenheim Lays Off 20 Employees as Financial Challenges Persist

The museum has suffered from rising costs and lower attendance. The cuts followed those at the Brooklyn Museum, which trimmed 10 percent of its staff this month.
Joann, 80-Year-Old Crafts and Fabrics Retailer, Will Close All Stores

The announcement that the chain would close all 800 of its stores in 49 states comes after a period of financial turmoil.
Chinese Hospital Bankruptcies Soar Amid Financial Strains

Still recovering from heavy spending during the pandemic, hospitals are squeezed by a slumping economy and government efforts to curb health care spending.
Brooklyn Museum Will Lay Off Employees and Scale Back Exhibitions

The museum, which faces a projected $10 million deficit, said it planned to cut more than a tenth of its employees and mount fewer exhibitions.
In San Antonio, an Orchestra Was Reborn. Can It Endure?

The San Antonio Philharmonic was formed after the demise of the city’s 83-year-old orchestra in 2022. But rebuilding has not been easy.
Jeffrey Epstein’s Estate Got a $112 Million Tax Refund

The estate’s assets have swelled to $145 million, a probate court filing in the U.S. Virgin Islands shows. Much of that won’t make its way to Mr. Epstein’s victims.
Andreessen Horowitz, Benchmark and the Transformation of Venture Capital

The opposing paths taken by two powerful firms — Benchmark and Andreessen Horowitz — embody a profound debate about the future of an industry that funds and fosters American innovation.