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Showing posts with the label economic

How much money did Las Vegas make with the Formula 1 race? Estimated economic impact

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Mistakes and mishaps in customer relations marred the return of Formula One to Las Vegas. However, despite these issues, the $500 million Sin City gamble ultimately paid off. In just under a decade, Las Vegas has transformed from a desert city known for its casinos, food, and live entertainment to a home for six minor league teams, four major league sports teams (including the MLB’s Athletics), a major sports organization in the Ultimate Fighting Champion, and four large sports venues hosting events such as NCAA tournament games, NFL Pro Bowls, and, most recently, Super Bowl LVIII. Full screen A general view during the F1 Grand Prix of Las Vegas at Las Vegas Strip Circuit on November 18, 2023, in Las Vegas, Nevada. CHRIS GRAYTHEN AFP F1 and owner Liberty Media hosted an exciting event on Saturday night, one of the season’s best races . The event was a flashy international spectacle that could only be pulled off in Las Vegas. However, the construction and preparation for the F1 race c...

China accuses Taiwan's government of using economic and trade issues to seek independence

China's government has accused Taiwan’s ruling party of seeking independence, a day after the self-governing island’s president lobbied for Australia’s support in joining a regional trade pact BEIJING -- The Chinese government on Wednesday accused Taiwan's ruling party of seeking independence, a day after the self-governing island's president lobbied for Australia's support in joining a regional trade pact. Zhu Fenglian, spokesperson for China's Taiwan Affairs Office, also said the recent Chinese Military drills around Taiwan were held to combat “the arrogance of Taiwan independence separatist forces.” China claims Taiwan, an island about 160 kilometers (100 miles) off its east coast, as its territory. The two split during the civil war that brought the Communists to power in China in 1949, with the losing Nationalists setting up their own government in Taiwan. Taiwan President Tsai Ing-wen, meeting with six visiting Australian lawmakers on Tuesday, sought th...