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Tag Archives: money

Gunn puts campaign finance bill on fast track

By BOBBY HARRISON Speaker Philip Gunn, R-Clinton, has placed on the fast track legislation attempting to prevent political candidates from using campaign finance funds for personal use. Similar legislation was killed during the 2016 session in the House at some personal embarrassment to Gunn. But on Wednesday, the legislation bearing the speaker’s name as the primary author passed the House by ...

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US stock indexes shift mostly higher in afternoon trading

Health care companies led the major U.S. stock indexes mostly higher in afternoon trading Tuesday, as the market gave up some of its gains from earlier in the day. Consumer goods and financial stocks also rose, while real estate companies were the biggest laggard. Crude oil prices headed lower. KEEPING SCORE: The Dow Jones industrial average slipped 27 points, or ...

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Analysis: Mississippi lawmakers face gaps in current budget

Mississippi lawmakers’ biggest task every session is writing a state budget for the coming year. A smaller but equally important task is deciding whether to fill budget gaps for the current year. The Legislative Budget Office says agencies have submitted $101.1 million in deficit requests for fiscal 2017, which ends June 30. That is 1.6 percent of the state-funded portion ...

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US indexes drift in early trade; department stores nosedive

Department stores dominated the news Thursday morning as Macy’s and Kohl’s both plunged following weak holiday-season reports that led the chains to cut their profit forecasts. Macy’s also said it will eliminate 10,000 jobs as it continues to close stores. Sears jumped after it said it will close 150 stores and sell its Craftsman tool brand. Overall, stocks were only ...

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Legislators may revise change in Mississippi budget process

Mississippi lawmakers could spend part of their 2017 session revising a change they made to the state budget in 2016. The Budget Transparency and Simplification Act was intended to streamline spending by wiping out the practice of some state government agencies paying others for things such as rent and technology services. It was also supposed to move all “special funds,” ...

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Analysis: Public pension fund faces test after 2 weak years

Lawmakers, county supervisors, mayors, school superintendents and college presidents should hope that the run-up in the stock market that began after Donald Trump’s election continues. Because if it doesn’t, Mississippi’s Public Employees Retirement System may be asking agencies to contribute more to make up the public pension fund’s deficit. That’s because, after two poor years of market returns, the $25 ...

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Tech stocks dip, dividend payers rise as indexes tread water

Technology stocks fell Friday, but gains for utilities and other big dividend payers helped U.S. indexes hold close to record levels. Bond yields gave up some of their big gains from the last few days. KEEPING SCORE: The Standard & Poor’s 500 index fell 2 points, or 0.1 percent, to 2,260 as of 11:40 a.m. Eastern time. The Dow Jones ...

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Banks lead US stock indexes higher, and dollar jumps again

A surge in banks and other financial stocks that stand to benefit from higher interest rates led U.S. indexes higher Thursday. The dollar climbed to its strongest level in more than a decade against other currencies, and the price of gold sank on expectations that the Federal Reserve will follow up Wednesday’s rate increase with several more next year. KEEPING ...

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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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