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Economy

PHIL HARDWICK — What is the purpose of business

Last summer, The Business Roundtable, a nonprofit organization of CEO’s of major businesses, redefined its Statement on the Purpose of a Corporation to include stakeholders in addition to shareholders. The action has produced much discussion about the primary role of the corporation. To put it another way: What responsibility does business have to society? Nobel prize recipient Milton Friedman and ...

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SHAD WHITE — A critical moment for Mississippi’s economy

Today, maybe more than any time in our recent history, Mississippi faces fundamental questions about where our economy is headed. How we answer those questions is going to determine whether we succeed, like some of our surrounding states, or whether we become a rural Detroit. That’s the conclusion I’ve reached after watching our economy my entire life—from doing the books ...

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Markets in 2019: record stocks, lower rates, so-so IPOs

On January 3, the S&P 500 sank 2.5% when Apple warned of sagging demand for the iPhone, an inauspicious start to 2019 following a 14% drubbing in last year’s fourth quarter. On January 4, Federal Reserve Chairman Jay Powell said the central bank would be “patient” with its interest rate policy following four increases in 2018. The S&P 500 soared ...

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ROGER WICKER: Country’s economy booming, no sign of stopping

America is currently experiencing its longest economic expansion in history. However, even after 125 months of positive news, November’s jobs report was a stunning blockbuster. According to the Department of Labor, wages are rising while we added 266,000 new jobs, well over the expected 180,000. Ten years after the Great Recession, policies like tax reform, regulatory rollback, and energy independence ...

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MEC’s Leadership Mississippi honors class of 2019

MEC’s Leadership Mississippi program was proud to honor our 53 graduates from the Class of 2019. The Class of 2019 celebrated their completion of the program at a graduation ceremony held at the Mississippi Museum of Art in Jackson on December 6, 2019. Participants completed five sessions in locations across Mississippi, including Jackson, Meridian, the Mississippi Gulf Coast, Cleveland, and ...

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Algal bloom cost Mississippi Coast tourism $4.1 million in June, July

By JACK WEATHERLY Beaches on the Mississippi Gulf Coast were given the green light earlier this month after a summer-long shutdown of coastal waters were declared free of  harmful algal bloom caused by an influx of fresh water from upstream flooding. The good news follows a loss of $4.1 million, or 3 percent to 8 percent, in room revenue for ...

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US stocks hang close to records after mixed profit reports

U.S. stock indexes held close to their record highs following a mixed set of earnings reports Wednesday, where some big companies topped Wall Street’s expectations and others warned that the slowing global economy and trade tensions are hitting their profits. The S&P 500 flipped between small gains and losses as trading opened for the day, similar to how it’s been ...

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Pre-holiday blues? Economy, tariffs cloud retail outlook as 4Q approaches

The slowing economy has made Kim Hawkins’ bridal customers hesitant about splurging, even for their big day. “They’re getting some of the more simple centerpieces, like glass vases or candles rather than the more extravagant centerpieces,” says Hawkins, owner of Events Wholesale, a Watkinsville, Georgia-based company that sells decorative items for weddings, parties and other events. Hawkins has also noticed ...

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US stocks fall ahead of Fed decision on interest rates

Stocks moved broadly lower on Wall Street in afternoon trading Wednesday ahead of a highly anticipated decision from the Federal Reserve on interest rates. The Fed is expected to cut its benchmark interest for a second time this year. Close attention will be paid to any clues Fed Chairman Jerome Powell gives about future rate policy during a 2:30 p.m. ...

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Stocks slip as surge in oil brings fresh economic worries

Stocks fell broadly on Wall Street in afternoon trading Monday after an attack on Saudi Arabia’s biggest oil processing facility sent crude prices soaring. The attack, which Yemeni rebels said they were behind, raised worries about the risk of more disruptions for oil at a time when the global economy’s strength is already seen as shaky. President Donald Trump warned ...

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