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SEC announces average payout of $44.6 million per school

The Southeastern Conference schools each received more than $44.6 million in total revenue distributed by the league, a seven-figure increase from the previous fiscal year. SEC Commissioner Greg Sankey said Thursday the league handed out just over $651.0 million of total revenue among the 14 members for the 2018-19 fiscal year, which ended August 31, 2019. That’s up from $627.1 ...

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Man gets 4-year prison term for $12 million tax return scam

A St. Louis-area man has been sentenced to four years in prison for a tax return scheme that netted nearly $900,000. A federal judge on Thursday sentenced Babatunde Olusegun Taiwo, who agreed to a plea deal with prosecutors in September. Federal prosecutors said Taiwo, co-conspirator Kevin Williams and others obtained personal information from people, including through a data breach at ...

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Tax from internet sales growing, but state getting less

By BOBBY HARRISON / Mississippi Today Since a June 2018 U.S. Supreme Court ruling allowing states to collect taxes on internet sales, Mississippi’s use tax collections have steadily increased.   Still, state Economist Darrin Webb and Mississippi’s other financial experts are projecting use tax revenue going to the general fund for core state functions such as education, law enforcement and ...

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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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BILL CRAWFORD — Money talks in Mississippi politics

“Who will pay $250K to eat with Tate Reeves at inauguration dinner?” read the headline in the Clarion-Ledger. The incoming governor’s inaugural committee is seeking “platinum sponsors” willing to ante up to have dinner with Reeves plus VIP access to all inauguration events. The article says that the identities of these donors and others paying for inauguration events will remain ...

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Business partner acquitted in $85M Mississippi Ponzi scheme

The former business partner of a Mississippi man convicted of running a Ponzi scheme in which investors lost more than $85 million has been found not guilty of assisting in the crime. Jurors acquitted William McHenry, 72, of securities and commodities fraud and wire fraud charges Thursday in federal court in Jackson. Prosecutors had argued McHenry recruited investors for Arthur ...

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Asian shares advance after meager gains on Wall Street

BANGKOK — Shares swung higher in Asia on Friday after a wobbly day of trading on Wall Street as investors awaited a U.S. government jobs report and kept an eye out for developments in China-U.S. trade talks. Hong Kong’s Hang Seng rose 0.7% to 26,401.47, while the Nikkei 225 in Japan picked up 0.2% to 23,352.81. South Korea’s Kospi jumped ...

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Stocks up with hopes that US-China trade deal still on track

Stocks climbed Wednesday and recouped some of their losses from prior days on hopes that a U.S. trade deal with China may be nearing, despite tough recent talk from President Donald Trump. The market has swung sharply for months on every hint of progress about talks between the world’s largest economies, and the latest flip-flop followed a report from Bloomberg ...

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TODD SMITH — Holiday sales set records for Cyber Monday, Black Friday

Cyber Monday sales vaulted to a multi-billion-dollar record, easily surpassing last year’s total, marking the largest online shopping day of all time in the U.S. Based on data from Adobe Analytics – which tracks hundreds of retail websites – sales soared to $9.4 billion by the end of Cyber Monday, growing 19.7 percent year over year and beating last year’s record of nearly $8 billion. That’s on ...

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