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☆ Gavin Newsom vetoes bill to help Black families reclaim land for being 'impossible to implement'
▼ + stars: | 2024-09-26 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Gavin Newsom vetoed a bill Wednesday that would have helped Black families reclaim or be compensated for property that was unjustly taken by the government. The proposal by itself would not have been able to take full effect because lawmakers blocked another bill to create a reparations agency that would have reviewed claims. The California Legislative Black Caucus has backed a series of reparations packages in the state. The caucus cited concerns that the Legislature would not have oversight over the agency’s operations and declined to comment further on the reparations fund bill because it wasn’t part of the caucus’ reparations priority package. The administration’s Department of Finance said earlier this year it opposed the eminent domain bill because it was not specifically included in the budget.

Persons: Gavin Newsom, “, ” Newsom, Carolyn Cole, Sen, Steven Bradford, Bradford, ” Bradford, Newsom Organizations: —, California Legislative Black Caucus, Black Americans, Los Angeles Times, Getty, California State University, Associated Press, administration’s Department of Finance Locations: SACRAMENTO, Calif, — California, California, Los Angeles

Hinds County Chancery Judge Crystal Wise Martin blocked the law in October 2022 after Parents for Public Schools sued the state. The nonprofit group argued the grants would give private schools a competitive advantage over public schools. “Any appropriation of public funds to be received by private schools adversely affects schools and their students,” Martin wrote. Tate Reeves created a grant program to help private schools pay for water, broadband and other infrastructure projects. State attorneys also wrote that the Mississippi Constitution only blocks the Legislature from sending money directly to private schools.

Persons: JACKSON, Crystal Wise Martin, ” Martin, Tate Reeves, general's, “, lopsidedly, Martin Organizations: Mississippi Supreme, Public Schools, Mississippi’s Republican, Republican Gov, Midsouth Association of Independent Schools, Public, American Civil Liberties Union of Mississippi, Mississippi Center for Justice, Democracy Forward, Mississippi Department of Finance, Administration, DFA, Mississippi Constitution, Mississippi Adequate Education Locations: Miss, Mississippi, Hinds County

☆ Here's one area of California where people aren't leaving and the population is actually growing
▼ + stars: | 2023-11-11 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

But the Central Valley is booming, making it one of the few areas of the state experiencing sustained growth. But the 2020 Census revealed a stunning statistic: California's population growth had slowed in the prior decade, which resulted in the state's first-ever loss of a congressional district. But in California's Central Valley, the population is booming, driven by higher birth rates and substantial migration from more expensive coastal counties, according to The Economist. AdvertisementAdvertisementIn Northern California's Central Valley, San Joaquin County is poised to become a primary beneficiary of this inward migration. The state is projecting that the Northern California county will have almost 1 million residents by 2060, up from its current population of about 780,000 residents.

Persons: —, Jane Tyska, aren't Organizations: Service, Golden, California Department of Finance, Golden State, Alameda County —, Oakland, San, Media, East Bay Times, Getty, San Bernardino counties —, Inland Locations: California, San Joaquin County, Bay Area, Golden State, Los Angeles, San Francisco, Central, Golden, Francisco, Alameda County, Berkeley, Alameda, Bay, Southern California, Riverside, San Bernardino, Central Valley, Northern California, San Joaquin

☆ Dubai ruler approves 246.6 billion dirham budget for 2024-2026
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

Horse Racing - Dubai World Cup - Meydan Racecourse, Dubai, United Arab Emirates - March 30, 2019 Dubai's Ruler Sheikh Mohammed bin Rashid al-Maktoum, Prime Minister and Vice-President of the United Arab Emirates gestures from the podium during the trophy presentation for the Dubai World Cup Sponsored By Emirates Airline ... Acquire Licensing Rights Read moreDUBAI, Nov 6 (Reuters) - Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum approved a budget of 246.6 billion dirham ($67.14 billion) for the emirate's government in 2024-2026, the Dubai media office said on Monday. Expenditure for the fiscal year 2024 alone is estimated at 79.1 billion dirham, and public revenues at 90.6 billion dirham, the media office added. Of the estimated revenues, 85.1 billion dirham would be allocated to the budget, and the remaining 5.5 billion dirham would go to the general reserve, it said. Dubai, one of the seven emirates that constitute the oil-rich United Arab Emirates, is widely regarded as the trade and tourism hub of the Gulf region. ($1 = 3.6729 UAE dirham)Reporting by Nayera Abdallah; editing by Mark Heinrich and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sheikh Mohammed bin Rashid al, Maktoum, Saleh Al Saleh, Al Saleh, Nayera Abdallah, Mark Heinrich, Barbara Lewis Organizations: Racing, Dubai, United Arab Emirates, United, Emirates Airline, Department, Finance, Thomson Locations: Dubai, United Arab, United Arab Emirates, DUBAI, Gulf, UAE

PwC sign is seen in the lobby of their offices in Barangaroo, Australia June 22, 2023. REUTERS/Lewis Jackson Acquire Licensing RightsSYDNEY, Oct 26 (Reuters) - PwC Australia said on Thursday that dozens of staff who had been set to move across to spin-off consultancy Scyne Advisory will no longer have roles at the new firm and have been told to look for jobs internally. Over 1,500 people out of PwC Australia's more than 9,000 staff were expected to move to the new firm, PwC said in September. A Scyne Advisory spokesperson said a delay in closing the deal, originally planned for September, changes to its "partner mix" and the need to establish Scyne as a "sustainable business" were factors in the decision. The move comes as Scyne Advisory gears up to reclaim advisory work that netted PwC Australia A$680 million ($427 million) last financial year.

Persons: Lewis Jackson, PwC, Kevin Burrowes, Lincoln, Edwina Gibbs Organizations: REUTERS, Rights, Scyne, PwC, PwC Australia, of Finance, Thomson Locations: Barangaroo, Australia, PwC Australia, PwC

SACRAMENTO, Calif. (AP) — California lawmakers, union leaders and truck drivers are trying to steer Democratic Gov. Gavin Newsom toward signing into law a proposal that could save jobs as self-driving trucks are tested for their safety on the roads. Businesses say self-driving trucks would help them transport transport products more efficiently in the future. In Phoenix, companies have tested self-driving trucks on highways and to deliver mail through a partnership with the U.S. There are about 200,000 commercial truck drivers in California, according to Teamsters officials.

Persons: Gavin Newsom, Republican Assemblymember Tom Lackey, aren't, ” Lackey, ”, Newsom, Dee Dee Myers, Mike Di Bene, Brian Rice, ” Rice, Jerry Brown, Assemblymember Cecilia Aguiar, Curry, Steve Gordon, Gordon, ___ Sophie Austin, Austin @sophieadanna Organizations: Democratic Gov, Republican, administration’s Department of Finance, Business, Economic, state's Department of Motor Vehicles, U.S . Postal, Drivers, International Brotherhood of Teamsters, Oakland Teamsters, California Professional Firefighters, ” Labor, Hollywood, Department of Motor Vehicles, DMV, Associated Press, America Statehouse News Initiative, America Locations: SACRAMENTO, Calif, California, “, San Francisco, Phoenix, Sacramento

☆ Getting paid Wednesdays instead of Fridays makes me feel like I earn more—money experts explain why
▼ + stars: | 2023-09-18 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +4 min

And because my previous bank paid me on Friday, I was, in fact, getting paid two days earlier than I would have if I hadn't switched banks. Even though I'm still only getting paid once every two weeks, I feel less financially strained. So, why does getting paid on Friday prompt higher spending? "Hypothetically [getting paid on Friday] can lead to the thought: 'I get paid and then my money disappears quickly,'" she says. Regardless of why, I know getting paid Wednesdays makes me feel less like I'm living paycheck to paycheck.

Persons: Wells, I'm, Filipe Correia, Lynton, Hal Hershfield, Hershfield, Correia, I'd Organizations: University of Georgia, University of California, Los Angeles Anderson School of Management, CNBC Locations: Wells Fargo, Los

Lawmakers backing the bill say a large number of companies in the state already disclose some of their own emissions. California’s climate disclosure bill would be different because of all the indirect emissions companies would have to report. But the California bill would go beyond that, by mandating that both public and private companies report their direct and indirect emissions. Companies would have to report indirect emissions including those released by transporting products and disposing waste. Companies would have to begin publicly disclosing their direct emissions annually in 2026 and start annually reporting their indirect emissions starting in 2027.

Persons: Chris Ward, Christiana Figueres, Gavin Newsom, Newsom, Sen, Scott Wiener, “, ”, Brady Van Engelen, Danny Cullenward, Cullenward, it’s, Mary Creasman, ___ Sophie Austin, Austin @sophieadanna Organizations: —, Democratic, Apple, United Nations, Democratic Gov, Lawmakers, administration’s Department of Finance, San, San Francisco Democrat, National Conference of State Legislatures, U.S . Securities, Exchange Commission, Companies, California Chamber of Commerce, Western States Petroleum Association, California Hospital Association, University of Pennsylvania’s, Center for Energy Policy, California Environmental Voters, California Air Resources Board, Wiener, Associated Press, America Statehouse News Initiative, America Locations: SACRAMENTO, Calif, California, Patagonia, Christiana, Paris, San Francisco, Ceres, ”

☆ ChatGPT helped a simulated study return up to 512% trading stocks based on news. Here's the prompt the researchers used — plus the positive and negative takeaways from their findings.
▼ + stars: | 2023-07-22 | by ( Laila Maidan | ) www.businessinsider.com time to read: +12 min

ChatGPT excelled at predicting a stock's price direction based on news sentiment. They found that while ChatGPT excelled at predicting a stock's direction based on news sentiment, it is not without limitations. They prompted ChatGPT to assign the following scores to headlines: "1" for good news, "0" for unknown and "-1" for bad news. Is this headline good or bad for the stock price of (company name) in the term (short or long-term)?" This meant negative news had a greater and longer impact in the real world than in the simulation,, likely giving ChatGPT an advantage, Lopez-Lira noted.

Persons: ChatGPT, Bard, Alejandro Lopez, Yuehua Tang, Merrill Lynch, Lopez, Lira, Tang, Russell, BERT, Philip Morris, Gene Tipps, David Capablanca, Alpesh Patel, Praefinium, Patel, Capablanca, GPT's, it's, Cory Mitchell, would've, Mitchell, you'll, they're Organizations: University of Florida, of Florida's Department, Finance, Lira, Center for Research, Linux, NYSE, Nasdaq, GPT, Design, Cadence Design, Philip Morris Beats, Global, Global Operations, Dow Locations: GPT

☆ Factbox: Potential candidates as next chief of Australia's central bank
▼ + stars: | 2023-07-05 | by ( Wayne Cole | ) www.reuters.com time to read: +2 min

SYDNEY, July 5 (Reuters) - The Australian government will announce this month whether it would reappoint Reserve Bank of Australia (RBA) Governor Philip Lowe or replace him. * Michele Bullock, 60, became the first female Deputy Governor of the RBA when she was appointed in the role in April 2022. She studied economics at the University of New England and a masters from the London School of Economics. He studied economics at Sydney University, and completed a PhD in health economics at the Australian National University. He has PhD degrees in physiology from Cambridge University and in economics from the Australian National University.

Persons: Philip Lowe, Michele Bullock, Bullock, RBA, Steven Kennedy, Kennedy, Kevin Rudd, Julia Gillard, Jenny Wilkinson, David Gruen, Wilkinson, Gruen, Martin Parkinson, Guy Debelle, Fortescue, Australia's, Debelle, Andrew, Carolyn Wilkins, Shri Navaratnam Organizations: SYDNEY, Australian, Reserve Bank of Australia, University of New, London School of Economics, Treasury, Labor, Sydney University, Australian National University, government's Department of Finance, Parliamentary, ANU, Princeton, Australian Bureau of Statistics, Cambridge University, Macquarie University, Department of Prime, Adelaide University, Fortescue Future Industries, University of Adelaide, MIT, Bank of Canada, Thomson Locations: University of New England

☆ China’s world banks are geopolitical victims
▼ + stars: | 2023-06-15 | by ( Una Galani | ) www.reuters.com time to read: +4 min

MUMBAI, June 15 (Reuters Breakingviews) - China’s “World Bank” tried in vain to carefully thread the geopolitical needle. Fairly or not, critics have lambasted China’s lending practices along the BRI as “debt trap diplomacy”. Whereas the smaller AIIB did things more the way developed countries wanted, even taking positions at odds with Beijing’s. Pickard alleged on Twitter that AIIB was an instrument of China, dominated by Communist party members who “operate like a secret police”. The AIIB said the comments by Pickard, who had served in his role since March 2022, were “baseless and disappointing”.

Persons: Bank ”, Bob Pickard, Jin Liqun, Pickard, AIIB, Chrystia Freeland, Pete Sweeney, Thomas Shum Organizations: Reuters, Bank, Infrastructure Investment Bank, Twitter, Communist Party, World Bank, Initiative, Beijing, International Monetary Fund, New Development Bank, Canadian, Communist, Department of Finance, Finance, Thomson Locations: MUMBAI, Canada, Beijing, India, France, Asia, Africa, Latin America, Argentina, Pakistan, Russia, Ukraine, China, Ottawa, Shanghai, Saudi Arabia

OTTAWA, June 14 (Reuters) - Canada is freezing ties with the China-led Asian Infrastructure Investment Bank (AIIB) while it probes allegations it is dominated by the Chinese Communist Party, Finance Minister Chrystia Freeland said on Wednesday. The bank's global communications director, a Canadian, said on Wednesday he had resigned and criticised the bank as "dominated by the Communist Party", allegations which the AIIB said were baseless. Liberal Prime Minister Justin Trudeau was in power when Canada joined the AIIB. The opposition Conservatives have long demanded Ottawa pull out of the bank, saying it is a tool for Beijing to export authoritarianism throughout the Pacific. The Royal Canadian Mounted Police said on Tuesday it was investigating allegations China tried to intimidate a federal Conservative legislator.

Persons: Chrystia Freeland, Freeland, AIIB, Justin Trudeau, David Ljunggren, Jonathan Oatis, Angus MacSwan Organizations: OTTAWA, Asian Infrastructure Investment Bank, Chinese Communist Party , Finance, Communist Party, Department of Finance, Liberal, Canada, Conservatives, Ottawa, Royal Canadian Mounted Police, Conservative, Beijing, Thomson Locations: Canada, China, Ottawa, Beijing

☆ New York’s Smallest Businesses Face Some of Its Biggest Rent Hikes
▼ + stars: | 2023-05-08 | by ( Stefanos Chen | ) www.nytimes.com time to read: +1 min

Now, the owners of many of those small businesses, many of whom did not qualify for pandemic-era public loans and grants, worry that sharp rent increases and a lack of protections for commercial tenants could shut down their stores, just as the economy is gaining momentum. These businesses helped fuel the city’s recovery while the rest of the economy faltered, and many store owners say they fear they will be left out of the resurgence. At risk, they say, is the soul of the city: the minority- and immigrant-owned businesses that create a path to the middle class and provide hard-to-find goods and services in ethnic enclaves. “For the first time in New York City history, their existence is being threatened,” said Annetta Seecharran, the executive director of Chhaya, a nonprofit community development group. In districts where the rent rose, people of color made up 72 percent of the population, the analysis showed, raising concerns about displacement and gentrification.

☆ The Population of California Declined, Again
▼ + stars: | 2023-05-03 | by ( Soumya Karlamangla | ) www.nytimes.com time to read: +1 min

Even after three years of decline, though, California remains by far the nation’s most populous state, home to one in eight U.S. residents. Palmer, spokesman for the California Department of Finance. The primary driver of the state’s population loss has been Californians moving to other states, like Texas, Nevada, Idaho or Oregon, according to Hans Johnson, a senior fellow at the Public Policy Institute of California. Between July 2021 and July 2022, the net movement out of California was a record 407,000 people, he said. California has been losing residents to other states for decades, though that was usually offset by arriving immigrants, whose numbers plummeted in 2020.

☆ Resolving Credit Suisse: an alternative history
▼ + stars: | 2023-04-27 | by ( Liam Proud | ) www.reuters.com time to read: +8 min

Reuters GraphicsThe market shock will be all the more extreme because Credit Suisse doesn’t obviously need more capital. It seems perverse to put taxpayer money on the line while leaving the Credit Suisse bonds untouched. Of the 30 global lenders classed as systemically important by the Financial Stability Board, Credit Suisse is the third-smallest by total assets. It also enables the Swiss National Bank to offer Credit Suisse an open-ended credit line, hopefully ending the bank run. Credit Suisse is suffering from a crisis of confidence brought on by years of mismanagement, rather than a system-wide meltdown.

☆ Factbox: Asia's carbon pricing and emission trading systems
▼ + stars: | 2023-03-31 | by ( Matthew Chye | ) www.reuters.com time to read: +5 min

Here is a look at some of the carbon emissions trading systems (ETS) and pricing mechanisms in Asian countries aimed at reducing greenhouse gas emissions and achieving net zero targets. * A carbon levy will be introduced from around 2028/29 on fossil fuel importers such as refiners, trading houses and electricity utilities. INDIA* Parliament in December passed the Energy Conservation (Amendment) Bill 2022 that sought to establish carbon trading. * Authorities are studying the implementation of a carbon exchange and plan to set up agencies to monitor and verify emission volume. MALAYSIA* The stock exchange launched a voluntary carbon market (VCM) in December with the introduction of the Bursa Carbon Exchange, the world's first Shariah-compliant carbon exchange.

☆ UBS' dramatic takeover of Credit Suisse was the deal neither bank wanted. Here's some of the passive-aggressive digs from both sides.
▼ + stars: | 2023-03-20 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

UBS acquired Credit Suisse in a rescue takeover over the weekend. But Credit Suisse didn't want to be rescued, and UBS didn't want to have to be the rescuer. For example, the first official word of the deal came from the Swiss National Bank, which announced: "UBS today announced the takeover of Credit Suisse." Next, Credit Suisse announced: "Credit Suisse and UBS to Merge." In 2019, after UBS announced Khan's hire, the chief operating officer at Credit Suisse ordered a colleague to spy on him.

☆ A Secret Society Tied to the Underground Railroad Fights to Save Its Home
▼ + stars: | 2022-12-20 | by ( Dodai Stewart | ) www.nytimes.com time to read: +1 min

That said, “They need money,” Ms. Britt acknowledged. “They need money to deal with the house. They need money to deal with the issues with the city and the taxes. If we get weak: Look at that building. If we feel like we can’t go on anymore: Look at that building.”

As millions of Americans prepare to submit applications for student loan forgiveness through the Biden administration's new program, the residents of seven states could get a tax bill if they accept the loan cancellation. California is the largest state currently in line to tax student loan forgiveness. However, California legislators have promised to change the state's tax code to exempt student debt forgiveness from being taxed. In a statement to NBC News, a spokesperson for the Indiana Department of Revenue confirmed its residents will owe up to $323 for $10,000 in student loan forgiveness and $646 for $20,000 in student loan forgiveness. “Legislative leaders need to find a solution that treats student loan forgiveness the same way they handled the PPP loan forgiveness that many of them received,” Cooper said.

☆ 7 people who left California detail the bigger and better homes they were able to buy or rent in their new locations
▼ + stars: | 2022-10-15 | by ( Jordan Pandy | Robert Davis | ) www.businessinsider.com time to read: +12 min

Seven people who chose to leave California told Insider about the bigger and better homes they could afford in other locations. Brittany PhillipsName: Brittany Phillips, 37Profession: Hairstylist making about $85,000 a yearHome in California: Phillips shared a three-bedroom, 1,353-square-foot house with a roommate. Home in Florida: Phillips and her 13-year-old daughter moved in with her parents in a northwest Florida hot spot, Panama City Beach. Worst part of California: Phillips felt that California is simply unaffordable. Worst part of California: Berube said Chino Hills was getting crowded and expensive.

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