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.
NCAA President Charlie Baker faced sharp criticism on Tuesday for placing the burden of safety on female athletes uncomfortable sharing locker rooms with transgender athletes.
House Foreign Affairs Committee Chair Michael McCaul, R-Texas, warned Tuesday that some of the unidentified aircraft spotted over the East Coast are likely Chinese "spy drones." McCaul’s comments came before a classified briefing on drone activity, raising national security concerns.
The Democratic Legislative Campaign Committee (DLCC) announced on Tuesday a $100,000 investment in two Northern Virginia state legislature special elections scheduled for January, The Hill reported.
Moderna has paused its mRNA RSV (Respiratory Syncytial Virus) vaccine trial for children after five infants were hospitalized with severe respiratory complications.
