A $70 million furniture manufacturing plant planned by SBA Home, a Lithuanian company that produces furniture for IKEA, will bring 250 new jobs to Mocksville, North Carolina, thanks to significant state and local incentives. The North Carolina Economic Investment Committee approved a $1.4 million job development investment grant, to be distributed over the next 12 years, while Mocksville and Davie County contributed $800,000 in incentives to support the project.
The Federal Reserve made its third consecutive interest rate cut on Wednesday, reducing its benchmark rate by a quarter of a percentage point. The move, widely anticipated by investors and financial markets, brings the federal funds rate to a target range of 4.25 percent to 4.50 percent. Since beginning its rate cuts in September, the Fed has now lowered rates by a total of 100 basis points, or one percentage point.
Florida Governor Ron DeSantis pushed back against "false media narratives" about illegal immigration, following a report highlighting the state's economic growth.
American Airlines has agreed to end its Diversity, Equity, and Inclusion (DEI) hiring practices following pressure from a conservative watchdog group, America First Legal (AFL)
Defense attorneys for former Illinois House Speaker Michael Madigan and codefendant Michael McClain are set to begin presenting their case Wednesday in a corruption trial that has captured significant attention. The trial, which involves 23 counts of bribery, racketeering, and official misconduct, centers around the alleged "Madigan Enterprise" scheme in which utilities like ComEd and AT&T Illinois allegedly provided no-work jobs and contracts to individuals loyal to Madigan in exchange for favorable legislation in Springfield.
Florida Attorney General Ashley Moody is calling on the Federal Emergency Management Agency (FEMA) to eliminate or suspend burdensome regulations preventing Floridians from rebuilding their homes after the devastating hurricanes Helene and Milton. These restrictions, she argues, are forcing some residents to abandon their communities altogether.
In a surprising move, the judge overseeing the corruption trial of former Illinois House Speaker Michael Madigan instructed the jury on Monday to disregard all testimony from Illinois state Rep. Bob Rita, D-Blue Island. Judge John Robert Blakey gave no explanation for the decision, despite Rita’s brief testimony on October 24.