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Tag Archives: money

MDA faces possible double-digit cut in budget

  By JACK WEATHERLY The budget for the Mississippi Development Authority could be cut by 11.4 percent for fiscal 2018 compared with the previous year. That’s the recommendation from the Legislative Joint Budget Committee for the state’s leading economic development agency. The committee, composed of members of both houses of the Legislature, recommends a 2.3 percent reduction in the fiscal ...

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The latest: stocks tumble lower after Fed rate hike

After initially wobbling between gains and losses following the Fed’s announcement, stocks turned moderately lower in afternoon trading following the rate increase decision. Bond prices fell after the announcement Wednesday, sending bond yields higher. High-dividend utilities and real estate companies, which would stand to lose more than other companies from rising interest rates, fell more than the rest of the ...

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Mississippi lawmakers propose spending cuts for coming year

Top lawmakers are proposing a Mississippi budget that would be 3 percent smaller for the coming year. The Joint Legislative Budget Committee met Thursday, and members adopted a recommendation for the state to spend almost $6.2 billion during fiscal 2018, which begins July 1. That is a reduction of $195.3 million from the current year. “I would advise agencies to ...

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Phone and bank stocks push indexes higher; Dow at record

Stocks posted slight gains on Tuesday, sending the Dow Jones industrial average to another record, helped by shares of telecommunications companies such as Verizon, Sprint and AT&T. Small companies and bank stocks also rose as investors continue to speculate that U.S. economic growth will pick up under the incoming Trump administration. The Dow Jones industrial average rose 35.54 points, or ...

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Dow hits another record as bank stocks continue to climb

U.S. stocks are rising Monday morning, led by gains in bank stocks, sending the Dow Jones industrial average to another record high. Other major indexes are also up but still below their own all-time highs. European stocks were mostly higher, but Italy’s market fell after Italian voters rejected constitutional changes, dealing a major setback to Premier Matteo Renzi. KEEPING SCORE: ...

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Miss. gets $33M in federal funds for emergency operations

A federal grant totaling $33 million is coming to Mississippi to be used to beef up coordination among emergency responders statewide. Vicki Helfrich, executive director of the Mississippi Wireless Communications Commission, tells The Clarion-Ledger the money will be used to create and upgrade technology that will allow first responders in the state to view and share data. Helfrich says the ...

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Stocks fall after record run as consumer companies slip

U.S. stocks are opening lower Monday after they set records throughout last week. Consumer companies and banks are taking some of the largest losses. Energy companies are climbing as the price of oil jumps. KEEPING SCORE: The Dow Jones industrial average sank 55 points, or 0.3 percent, to 19,097 as of 9:42 a.m. Eastern time. The Standard & Poor’s 500 ...

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Mississippi jobless rate falls in October, payrolls fall

October sent mixed signals in Mississippi’s labor market, with unemployment improving but payrolls worsening. The state’s unemployment rate fell to 5.9 percent from 6 percent in September, and was below October 2015’s 6.5 percent. The number of workers and people reporting jobs rose strongly, and people unemployed fell below 75,000 for the first time since 2004. Mississippi had September’s fifth-highest ...

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Mississippi joins fight for legal sports betting

Mississippi and several other states have joined New Jersey’s fight to legalize sports betting in a brief filed with the U.S. Supreme Court. The Clarion-Ledger reports Attorney General Jim Hood signed onto the brief submitted by West Virginia Attorney General Patrick Morrisey, as did the attorneys general of Arizona, Louisiana and Wisconsin. New Jersey in October appealed a lower court’s ...

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Gov. Bryant places priority on reserves in his budget plan

By BOBBY HARRISON Gov. Phil Bryant is placing a priority on restoring state reserve funds in his budget proposal for the upcoming fiscal year, which starts July 1. The second-term Republican governor broke with the tradition of holding a news conference to release his budget proposal and did so instead Tuesday morning via social media. In defending his proposal to ...

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