Major Orange County venues to seek tourist tax dollars for projects
Major Orange County venues to seek tourist tax dollars for projects
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MoneyWise'The most chilling metric of all': Mike Rowe warns that 7 million American men are 'done' looking for work and have 'punched out' — why that's a serious problem
It’s taking a toll on multiple industries.
- WOFL
Disney to layoff thousands: report
After announcing a plan to slash nearly 7,000 jobs, Disney is reportedly instructing managers to propose budget cuts and put together lists of employees to be laid off in the coming weeks.
- Business Insider
The most accurate sign of a coming recession is not what you think it is - and it's on the verge of flashing
"While the inversion says trouble is coming in the medium term, the un-inversion says trouble is coming within a year," Brad McMillan said.
- Barrons.com
Meta’s Layoffs Are Just a Drop in the Bucket. These Companies Cut More.
Job postings on hiring website Indeed have been declining since early in 2022, but the slide has steepened over the past few months.
- MarketWatch
‘Someone needs to tell Jerome Powell that this is not a kill-at-all-costs mission.’ Cut interest rates now to prevent a full-blown banking crisis.
A rate cut won't end the war on inflation. It just pauses the battle -- if the Fed has the guts to do it, writes Chuck Jaffe.
- Business Insider
'Dr. Doom' economist Nouriel Roubini says the US banking system is in a dangerous position and the Fed can't win no matter what it does with rates
"It's too late to find a solution that prevents a hard landing and prevents severe financial stresses," "Dr. Doom" economist Nouriel Roubini said.
- GOBankingRates
Social Security: 20% Cuts to Your Payments May Come Sooner Than Expected
In more alarming news about the state of Social Security, some experts are warning that up to 20% in payment cuts could be coming as early as 2032, per CNN, unless Congress intervenes with measures to...
- Reuters
The canary is alive and chirping a year into Fed's rate hiking cycle
Utah homebuilder Ivory Homes still has a pipeline of several hundred houses under construction, but CEO Clark Ivory isn't pulling permits for any more at this point, and in a year of retrenchment for the single-family home industry, he has laid off just under 10% of his workers. But don't look for that to be reflected in overall U.S. construction employment or spending data, a canary that is very much still breathing inside what would usually be the toxifying air of rising U.S. interest rates. While housing starts are falling, "there is still a fair amount of completion happening," Ivory said, adding that contractors can move on to other jobs once finished with his company's projects.
- AZCentral | The Arizona Republic
Arizona voucher expansion: Cost of program grows far above initial projections as enrollment soars
While GOP leaders are confident the state can cover the cost of the program now and in the future, Gov. Katie Hobbs sees a train wreck coming.
- AFP
EU agrees 2-billion-euro ammunition plan for Ukraine
European Union ministers agreed Monday on a two-billion-euro plan to raid their own arsenals and jointly purchase desperately needed ammunition for Ukraine.EU foreign policy chief Josep Borrell said the plan was to purchase from European manufacturers and sign contracts for the ammunition for Ukraine by the end of May.
- Associated Press
WH economic report: Money for child care would help growth
The White House is making the case for more government support for child care programs in an economic report that it released Monday, drawing on extensive research to say additional spending would improve kids' lives, increase the quality of early childhood schooling and enable more women to hold jobs. The analysis dovetails with President Joe Biden's political messaging as ideological lines are being drawn for the 2024 election. Democrats have sought to put a greater focus on Republican lawmakers who have restricted access to abortions in the wake of last year's Supreme Court decision and called for mandating that impoverished parents be employed in order to receive government aid.
- Austin American-Statesman
Texas Senate committee OKs proposals to lower school taxes, increase state funding share
Bills by Houston Republican Sen. Paul Bettencourt that could deliver $16.5 billion in property tax relief passed through committee.
- The Olympian
Olympia eyes property tax increase as potential source for climate response funding
There are several funding options, including increasing property, sales, private utility or municipal utility tax rates.
- BBC
What chicken feet tell us about daily life in Egypt
Rising food prices mean Egyptians are struggling to put food on the table for their families.
- Reuters
As economy worsens, Lebanese juggle dizzying rates for devalued pound
When Caroline Sadaka buys groceries in the Lebanese capital Beirut, she keeps her phone in hand – not to check her shopping list but to calculate the spiralling costs of goods now priced at volatile exchange rates that vary by store and sector. As Lebanon's economy continues to collapse, an array of exchange rates for the local pound has emerged, complicating personal accounting and dimming hopes of fulfilling a reform requirement set out by the International Monetary Fund. The government's official exchange rate was set at 15,000 pounds to the U.S. dollar in February, a nearly 90% devaluation from the longtime peg of 1507.5.
- Politico
Sticker shock awaits New Yorkers' utility bills to fund renewables
How much people’s bills will rise over the next decade is still a guessing game.
- Bloomberg
Fed to Consider a Pause as Fallout From SVB Roils Markets
(Bloomberg) -- Federal Reserve officials face their biggest challenge in months as they weigh whether to keep raising interest rates this week to cool inflation, or take a pause amid the market turmoil fueled by recent bank failures.Most Read from BloombergUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisCredit Suisse’s $17 Billion of Risky Bonds Are Now WorthlessWarren Buffett in Contact With Biden Team on Banking CrisisCredit Suisse Said to Push Back Against UBS’s $1 Billion OfferFed
- WTTG
ON THE HILL: Montgomery County Executive talks property tax hike proposal
Montgomery County's budget proposal this week revealed a plan to raise property taxes. The proposed changes cause backlash among some county residents. Montgomery County Executive Marc Elrich joins the show to talk about the proposal and its impact.
- The Oklahoman
Guest: If Oklahoma wants businesses to thrive here, fixing state tax code is key
Guest: If we want businesses to thrive in Oklahoma, why are we taxing them simply for existing?
- Miami Herald
How will the banking crisis impact the Fed? Higher rates and recession may be imminent
The Federal Open Market Committee will meet March 21-22.