08/25/2019

News

America’s Pension Funds Fell Short In 2019

Public pension plans fell short of their projected returns this year, adding to the burden on governments struggling to fund promised benefits to retired workers. Public plans with more than $1 billion in assets earned a median return of 6.79% for the year ended June 30, the lowest since 2016, according to Wilshire Trust Universe […]

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Florida Raking In Billions As Americans Abandon High-Tax States

State governments can benefit Opens a New Window.  greatly from an influx of movers – enjoying everything from increased tax Opens a New Window. revenues to new business activity. Recently, changes to the U.S. tax code have encouraged an increasing number of people to move – taking their cash to lower-tax states like Florida. As […]

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U.S. Isn’t Ready To Make A Deal With China, Trump Says

President Trump raised the possibility that trade talks with China could break off again, sending stocks lower. In comments to reporters Friday, Mr. Trump indicated the U.S. was prepared for Beijing to back out of talks, which were tentatively set to take place in Washington next month. “We’ll see whether or not we keep our […]

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As Airbnb Prepares For Wall Street Scrutiny, Its Hometown Is A Key Case Study

Airbnb, long a flash point for controversy in its hometown, has achieved detente with San Francisco at the cost of slower growth — while pursuing other expansions that could stir new issues. San Francisco is not alone in reining in Airbnb. Cities from South Lake Tahoe to New York to Paris are cracking down on […]

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House Approves Bill That Would More Than Double Minimum Wage To $15

The House of Representatives passed a bill Thursday that would more than double the federal minimum wage to $15 by 2025. The bill, which passed by a 231-199 margin, was sponsored by Rep. Bobby Scott (D., Va.) and was a compromise that progressive Democrats struck with more centrist members of the party. It is unlikely […]

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Oil Price Rises On Mideast Tensions, Stock Markets Cautious

The price of oil rose on Friday after the U.S. said it had destroyed an Iranian drone near the Persian Gulf, where a lot of the world’s oil is shipped through. Stock markets were largely stable as investors monitor earnings and the ongoing trade talks between China and the U.S. Energy prices were ratcheted higher […]

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California’s Child Poverty Hits Coastal Bay Area

When Michele Beserra looks at her 3-year-old granddaughter, she sees a warm, loving girl with light brown curls and a nurturing instinct—the kind of person she hopes will become a nurse or a community advocate. But the 56-year-old Beserra becomes emotional when she thinks about her granddaughter’s new home: a tent on a plot of […]

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SF Office Space Is Expensive. A Ballot Proposal Will Make It Worse, Critics Say

San Francisco would restrict future office development if the city fails to meet its affordable housing goals under a proposed ballot measure. The measure would reduce the amount of office space allowed by a percentage equal to the city’s shortfall in approving affordable housing, based on state-mandated goals. The advocacy arm of South of Market […]

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Just Half Of Californians Believe They Can Afford To Live Here, Poll Finds

Who can afford to live in California? A newly released Quinnipiac University poll found that just slightly more than half, or 53 percent, of Californians believe they can afford to live in the Golden State. Surveyors spoke to 1,125 California voters between July 10-15, with a margin of error of 3.9 percentage points. Pollsters found […]

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Economy Healthy, No Recession Looming For California, Economists Say

When they presented the California Association of Realtors 2019 Mid-Year Market Forecast this month, C.A.R. senior vice president and chief economist Leslie Appleton-Young and deputy chief economist Jordan Levine announced as of July, the U.S. was officially 10 years into its economic recovery period. The country has experienced the longest period of economic expansion on […]

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U.S. Inflation Continues Recovery But Remains Below Fed Target

U.S. inflation continued to recover in May from a sharp slowdown earlier this year, a trend that could ease the Federal Reserve’s worries about weak price pressures while potentially tempering investors’ hopes for an interest-rate cut next month. The Fed’s preferred inflation gauge, the price index for personal-consumption expenditures, rose a seasonally adjusted 0.16% in […]

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Apple Moves Mac Pro Production To China

Apple Inc. is manufacturing its new Mac Pro computer in China, according to people familiar with its plans, shifting abroad production of what had been its only major device assembled in the U.S. as trade tensions escalate between the Trump administration and Beijing. The tech giant has tapped contractor Quanta Computer Inc. to manufacture the […]

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What You Need To Know About California’s New Budget

A few things about summertime in California have become utterly predictable: cineplex superheroes, beach crowds and a record-setting state budget. Two years ago, we told you the state’s budget hit $180 billion—and that with that money you could buy the Los Angeles Lakers 60 times over. Last summer, the state budget set a new high […]

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U.S. Industrial Production Rebounded In May

U.S. industrial production rose in May, a welcome sign of strength in the sector after a spate of weak readings this year. Industrial production, a measure of factory, mining and utility output, rose a seasonally adjusted 0.4% in May from the prior month, the Federal Reserve said Friday. Economists surveyed by The Wall Street Journal […]

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In California, A Blue Wave And Progressive Governor: So Why Are So Many Leftist Plans Going Under?

An unprecedented haul of tax dollars generated by a roaring economy. A governor who campaigned on a big-ticket policy agenda of long-time lefty favorites, including universal childcare and state-funded healthcare for all. A Legislature so thoroughly packed with Democrats it gives rise to a new term—”giga-majority.” Californians could be forgiven for expecting it all to […]

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