Italian Prime Minister Giorgia Meloni has openly defended her friendship with US tech billionaire Elon Musk, asserting that her personal connection with him does not influence her duties as Italy’s leader. Speaking in Parliament, Meloni made it clear that her government remains independent, despite her relationship with Musk, and she emphasized that she would not be swayed by his economic interests.
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.
The Biden administration’s Energy Department released a report that could complicate President-elect Donald Trump’s plans to promote liquefied natural gas (LNG) exports.
Florida Governor Ron DeSantis pushed back against "false media narratives" about illegal immigration, following a report highlighting the state's economic growth.
Congressional leaders revealed a stopgap funding bill on Tuesday to keep the government operational until March 14, setting off a race to pass the legislation by the end of the week.
Congress is preparing to vote on legislation that would restrict U.S. investments in China as part of a broader government funding bill, lawmakers announced Tuesday.
A few years ago, the Buffalo Bills threatened to leave New York State unless a new stadium deal was secured. This kind of relocation bluff is common in the NFL, with only the Green Bay Packers standing out as a team with a municipally owned facility and a market too small to seriously consider relocation. Despite the ever-present threat of the Bills moving to a more lucrative market, Democrat Governor Kathy Hochul ultimately signed a deal providing $600 million in state funding for a new $2.1 billion stadium for the Bills, with Erie County contributing an additional $250 million. This was after team owner Terry Pegula threatened to move the franchise to Austin, Texas, where he would privately finance a stadium.
California lost 156,300 jobs in the first half of 2024, according to the latest federal quarterly payroll data, contradicting Governor Gavin Newsom’s optimistic claims about job growth in the state. While Newsom’s office had highlighted preliminary job survey data, which often overestimates employment numbers, the finalized payroll data shows a starkly different picture. In January, California’s payroll data counted 18,037,900 jobs, but by June, that number had dropped to 17,881,600, reflecting a significant job loss.
