The prospect of a government shutdown is just one day away. Many are concerned with the direct impact this will have on the economy and the American public at large. National Urban League President and CEO Marc Moria joins Yahoo Finance to break down the ramifications a shutdown will have on some of the most vulnerable communities in America and the larger impact it will have on the rest of the country. "Think about the many, many, many Americans, even in your local community, who work for the federal government. Think about the many many people who work for companies that do business with the federal government, so that would be a direct impact that touches all 50 states," Morial, the former mayor of New Orleans, pleads. "To join with those who are advocating, those who are pressuring, those who are loudly saying to members of Congress 'Be responsible, do the right thing.'" For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The prospect of a government shutdown is just one day away. Many are concerned with the direct impact this will have on the economy and the American public at large. National Urban League President and CEO Marc Moria joins Yahoo Finance to break down the ramifications a shutdown will have on some of the most vulnerable communities in America and the larger impact it will have on the rest of the country.
"Think about the many, many, many Americans, even in your local community, who work for the federal government. Think about the many many people who work for companies that do business with the federal government, so that would be a direct impact that touches all 50 states," Morial, the former mayor of New Orleans, pleads. "To join with those who are advocating, those who are pressuring, those who are loudly saying to members of Congress 'Be responsible, do the right thing.'"
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
SmartAsset
Congress could soon change how spouses access their retirement accounts. A pair of Democratic bills recently introduced in the House and Senate would require spouses to consent before either one can make any withdrawals from their 401(k) accounts. The bills, sponsored by Rep. Lauren Underwood, D-Illinois, and Sen. Tammy Baldwin, D-Wisconsin, seek to amend the […] The post Spouses May Soon Need to Agree on 401(k) Withdrawals Under This Proposed Law appeared first on SmartReads by SmartAsset.
AP Finance
House Speaker Kevin McCarthy's last-ditch plan to keep the federal government temporarily open collapsed on Friday as hard-right holdouts rejected the package, making a shutdown almost certain. McCarthy’s right-flank Republicans refused to support the bill despite its steep spending cuts of nearly 30% to many agencies and severe border security provisions, calling it insufficient. The White House and Democrats rejected the Republican approach as too extreme.
Bloomberg
(Bloomberg) -- The Federal Reserve’s preferred measure of underlying inflation rose at the slowest monthly pace since late 2020, helping to lay the groundwork for policymakers to forgo an interest-rate hike at their next meeting.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Europe’s Richest Royal Family Builds $300 Billion Finance EmpireTop Chinese Scientist Claims India Moon Landing Nowhere Near South PoleUAW Aims For At Least 30% Wage Bump to Woo New Mem
Reuters
"How fast it transpires, I think, is going to be a function of that supply-demand issue, so I'm watching that very closely," said Dalio, founder of hedge fund Bridgewater Associates, in the interview. The country's debt has been under the spotlight in recent months after political brinkmanship around the debt limit earlier this year brought the U.S. close to a default.
Reuters
Underlying U.S. inflation moderated in August, with the annual rise in prices excluding food and energy falling below 4.0% for the first time in more than two years, welcome news for the Federal Reserve as it ponders the monetary policy outlook. The battle against inflation is, however, far from being won as the report from the Commerce Department on Friday showed overall prices were still elevated, partly due to higher gasoline prices. While the economy remains strong, consumer spending is slowing, which combined with cooling underlying price pressures raised hopes that the U.S. central bank will not hike interest rates in November.
Reuters
"The future happens here first," Newsom said at an event in Los Angeles, with labor officials and fast-food workers flanking him. The legislation emerged as part of a broader compromise in which fast-food companies agreed to remove a 2024 ballot referendum asking voters to repeal a law aimed at improving wages and working conditions for employees. Labor unions, meanwhile, dropped their push to hold fast-food corporations liable for violations committed by their franchisees.
American City Business Journals
Saudi Arabia wants to have at least 100 million tourists visit the country annually by 2030, and an embassy spokesperson thinks Wichita's aviation ties will play a big part in making it happen. In the spring, Saudi Arabia reached an agreement with the Boeing Co. to purchase at least 120 of its 787 Dreamliner jets, the fifth-largest commercial order by value in Boeing’s history. The planes will fly for the decades-old Saudia Airlines and an upstart airline, Riyadh Air.
Reuters
WASHINGTON (Reuters) -Albemarle Corp will pay more than $218 million, including more than $103 million to financial regulators, to settle a U.S. probe into its scheme to bribe government officials in multiple foreign countries, the Department of Justice said on Friday. As part of the resolution, the global chemical company admitted to using third parties "to pay bribes to government officials to obtain and retain chemical catalyst business with state-owned oil refineries in Vietnam, Indonesia, and India," taking in $98.5 million in profits, the department said. It also agreed to continue to cooperate with the Justice Department "in any ongoing or future criminal investigations relating to this conduct," it added.
Bloomberg
(Bloomberg) -- The Biden administration unveiled plans Friday to hold three auctions for offshore drilling rights over the next five years — angering both climate activists pushing to end the practice and oil industry advocates who want more sales.Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Europe’s Richest Royal Family Builds $300 Billion Finance EmpireTop Chinese Scientist Claims India Moon Landing Nowhere Near South PoleUAW Aims For At Least 30% Wage
Bloomberg
(Bloomberg) -- Texas Governor Greg Abbott has his eyes on Chicago.Most Read from BloombergChina Puts Evergrande’s Billionaire Founder Under Police ControlElon Musk Wins US Space Force Contract for StarshieldCitadel Is Ready to Fight With SEC Over WhatsApp ProbeLululemon Strikes Deal With Peloton for Fitness Content, Will Ax Mirror DeviceBond Selloff Grinds on as Oil Tests $94 a Barrel: Markets WrapThe Republican leader said he’s spoken to CME Group Inc., the world’s largest futures exchange, abo
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