BEVERLY — The city is facing a nearly $4 million shortfall in funding the fiscal 2027 operating budget. That number — $3,921,385, to be exact — was in…
Read more Beverly faces nearly $4 million budget shortfall this springBOSTON — Massachusetts cities and towns are facing a “historic fiscal crisis” amid rising operating costs, lackluster state aid and restraints on property tax increases, according to a…
Read more Report: Mass. cities, towns face ‘historic’ fiscal crisisShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Robert St Clair of Fullerton Fund Management says that the PBOC is using “all the…
Read more China’s monetary policy settings have been optimal so far: Fullerton Fund ManagementBOSTON — Backers of the state’s “millionaires tax” are accusing the Healey administration of defying the will of voters by tapping into proceeds from the tax to close…
Read more Teachers union blasts use of ‘millionaires tax’ moneyMarket optimism over the potential for interest rate cuts next year is dangerously overdone, according to former FDIC Chair Sheila Bair. Bair, who ran the FDIC during the…
Read more Fed sparking irrational market optimism over potential rate cuts, former FDIC Chair Sheila Bair warnsBig bank CEOs will likely convey deposits and earnings are stable to lawmakers on Wednesday, according to a major financial services executive. Thomas Michaud, CEO of Stifel company…
Read more Big bank executives will assure lawmakers the industry's crisis is over, KBW CEO Thomas Michaud predictsAraya Doheny | Getty Images When Dave Bernstein, 87, started working at the U.S. Postal Service in February 1970, he was making $2.35 an hour. To supplement his…
Read more Public workers may receive reduced Social Security benefits. There’s growing support in Congress to change thatMoody’s Investors Service turned negative on the US’s credit rating outlook Friday, citing risks to the nation’s fiscal strength and political polarization. The rating assessor lowered the outlook from stable,…
Read more Moody’s lowers U.S. credit-rating outlook to negative, warns ‘fiscal deficits will remain very large’In the U.S., 516 publicly listed firms have filed for bankruptcy from January through September 2023. Many of these firms have survived for several years with surging debt…
Read more Zombie firms are filing for bankruptcy as the Fed commits to higher ratesShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Some firms sustain their businesses by taking on more debt that they can repay. Economists…
Read more How the Fed fights zombie firms(Bloomberg) — After the most aggressive monetary-tightening campaign in four decades, academics and economic practitioners are running autopsies on what could have prevented the cost-of-living crisis and how…
Read more Central Banks Search for Lessons From the Great Inflation OutbreakAleksandarNakic | E+ | Getty Images The subject of Social Security was largely left untouched in the first Republican presidential debate. But worries about the future of the…
Read more 75% of people ages 50 and up worry Social Security will run out of money in their lifetimes, survey findszimmytws | iStock | Getty Images Last November’s midterm elections were expected to bring a so-called “red wave” of wins for Republican candidates. But ultimately, voters gave Democrats…
Read more As Republican contenders start to line up for the White House in 2024, Social Security may be key issueThe artificial intelligence trade may be leaving investors vulnerable to significant losses. Evercore ISI’s Julian Emanuel warns Big Tech concentration in the S&P 500 is at extreme levels.…
Read more A.I. trade is leaving investors vulnerable to painful losses: EvercoreA new survey found that 47% of Americans have one unused gift card, voucher, or store credit, totaling $21 billion nationwide, with the average person having $175 in…
Read more Survey Finds Americans Have $21 Billion In Unspent Gift CardsBEIJING — Chinese leader Xi Jinping is attending a pair of regional summits in Saudi Arabia this week amid efforts to kick-start economic growth weighed down by strict…
Read more China’s Xi visiting Saudi Arabia amid bid to boost economyBritain’s Treasury chief, Jeremy Hunt, has warned a spending crunch and tax increases are on their way as he bids to fill the “black hole” in the country’s…
Read more UK’s self-billed ‘Scrooge’ promises tax rises, spending cutsLONDON — The Bank of England made its biggest interest rate increase in three decades Thursday, joining the U.S. Federal Reserve and other central banks worldwide in rapid…
Read more Bank of England makes biggest interest rate hike in 30 yearsRIO DE JANEIRO — Brazilians delivered a very tight victory to Luiz Inácio Lula da Silva in a bitter presidential election, giving the leftist former president another shot…
Read more Brazil’s Lula to reclaim presidency after beating BolsonaroNEW YORK — Wall Street is rallying Friday, led by Apple, Exxon Mobil and other companies that made even bigger profits during the summer than expected. The S&P…
Read more Wall Street heads for first weekly win streak since summer
