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Leader of downtown Jackson group convicted of misusing money

The head of a downtown Jackson development group has been convicted on a charge that he embezzled money from the organization. Ben Allen was found guilty Tuesday on one count of a 10-count indictment. That count charged Allen with improperly receiving money from Downtown Jackson Partners to pay his wife’s mobile phone bill. A lawyer tells The Clarion-Ledger Allen will ...

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3 chances for lottery, but all could fizzle in House

The Mississippi House could have multiple ways to vote on creating a lottery in the next several days. But Speaker Philip Gunn opposes the game of chance and the proposals could die without ever coming up for debate. Democratic Rep. Steve Holland of Plantersville has tried to amend two bills to add a lottery. House Bill 967 would regulate and ...

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Mississippi lawmakers pledge school funding details soon

Top Mississippi lawmakers say a new K-12 school funding formula will be unveiled this week and it won’t raise the share that local districts must pay. House Appropriations Committee Chairman John Read, a Gautier Republican, says he expects a plan “in the next couple of days.” Placeholder bills could be amended with details as lawmakers consider them before a Thursday ...

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Mississippi Senate approves bill sending BP damages to coast

Mississippi senators want to create a new savings account channeling damage payments from the 2010 Deepwater Horizon oil spill to projects on the Mississippi Gulf Coast. The Senate voted unanimously Tuesday to approve Senate Bill 2634 , which would create an account to $750 million in receive economic damages that BP has agreed to pay to Mississippi over 17 years. The measure ...

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US stock indexes veer higher in morning trading; oil slides

Technology and industrial companies led U.S. stocks modestly higher in morning trading Tuesday as indexes bounced back from small losses the day before. Energy stocks lagged the most as the price of crude oil headed lower. Investors were sizing up earnings reports from General Motors, Michael Kors and other big companies. KEEPING SCORE: The Dow Jones industrial average rose 90 ...

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Top school districts could become exempt on reports to state

The Mississippi House voted Monday to exempt top-rated school districts from having to report information about curriculum and some other matters to the state Department of Education. House Bill 1224 also would allow A- and B-rated districts to offer financial incentives to teachers. Some lower-rated school districts have difficulty attracting teachers, and current state law lets them forgive student loans ...

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S&P upgrades Cooperative Energy

S&P Global Ratings has raised Cooperative Energy’s issuer credit rating from ‘A-’ to ‘A’. S&P Global Ratings also raised its rating on the cooperative’s series 2009A Mississippi Business Finance Corporation’s $40 million Gulf Opportunity Zone Bonds from ‘A-’ to ‘A’ with a stable outlook. Cooperative Energy (Cooperative), which recently changed its name from South Mississippi Electric Power Association, is a not-for-profit ...

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Jackson State asks alumni to give to offset cash crunch

Jackson State University’s temporary leader Monday asked alumni to dig into their pockets to overcome the school’s financial challenges. Interim President Rod Paige stated in a letter to graduates that the 10,000-student university’s expenses are exceeding income. He asked graduates to each contribute $100 to an “urgent fundraising campaign” that seeks to raise $5 million. “This is a special personal ...

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Mississippi Power could lose investment-grade credit rating

The increasing price and declining economic competitiveness of its $7.1 billion Kemper County power plant may cost Mississippi Power Co. its investment-grade bond rating from one of the nation’s three main credit rating agencies. Moody’s Investors Service said Monday that it’s considering lowering the electric utility’s credit rating, now at Moody’s lowest investment-grade level, after Mississippi Power announced it would ...

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Former Hancock CEO to lead troubled New Orleans bank

The former CEO of Hancock and Whitney banks is taking over the reins of a troubled New Orleans bank. First NBC Bank Holding Co. said Monday that it has named Carl Chaney as CEO, pending regulator approval. Chaney retired from Hancock Holding Co. in 2015 after six years as co-CEO with John Hairston. First NBC is selling nine branches and ...

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