New Jersey schools are facing a fiscal cliff as the state spends $7.3 billion on illegal immigration
TRENTON, NJ – As more New Jersey schools continue to report closures, staff layoffs, and even the sale of longtime community schools because of being ‘shortchanged’ by Governor Phil Murphy’s S2 funding…
CBP Trade Advisory Committee Convenes for Fiscal Year-End Public Meeting
Container ships docked at the port of Savannah in Georgia at dusk. Photo by Jerry Glaser Discussions began on a serious note when members of U.S. Customs and Border Protection’s trade advisory…
Euro zone 2024 fiscal tightening seen limited by slowing economy
By Jan Strupczewski BRUSSELS (Reuters) – Euro zone governments will try to bolster their public finances next year by withdrawing expensive energy price subsidies but slower economic growth and fear of angering…
Del Rio Port of Entry CBP officers seize 12 weapons, bringing the Laredo Field Office to a milestone 1,000 weapons seized thus far in Fiscal Year 2023
DEL RIO, Texas – U.S. Customs and Border Protection, Office of Field Operations officers conducting outbound operations at Del Rio Port of Entry seized 12 handguns, and 24 weapon magazines hidden within…
Thailand plans higher borrowing in 2024 to boost economy – sources
BANGKOK (Reuters) -Thailand’s new government plans to borrow about 2.4 trillion baht ($66.4 billion) for the fiscal year 2024 starting on Oct. 1, up 9% from the current year, according to market…
Euro zone ministers agree fiscal policy must aid ECB inflation fight
By Jan Strupczewski SANTIAGO DE COMPOSTELA, Spain (Reuters) -Euro zone finance ministers agreed on Friday that fiscal policy should be restrictive next year to help the European Central Bank curb inflation, while…
China’s Jan-Aug fiscal revenue growth slows despite policy support
BEIJING (Reuters) – China’s fiscal revenue rose 10% in the Jan-Aug period of 2023, slower than 11.5% growth in Jan-July, official data showed, even as the economy showed signs of stabilisation in…
New Thai govt approves higher spending, budget deficit for fiscal 2024
BANGKOK (Reuters) -Thailand’s new cabinet on Wednesday approved a plan for higher fiscal 2024 spending of 3.48 trillion baht ($97.29 billion) and a larger budget deficit of 693 billion baht, the government…
Germany’s 2024 budget reverses fiscal trend since 2019
BERLIN (Reuters) – Germany’s debt has grown since 2019 due to the pandemic and the war in Ukraine but the pattern will change this year, German Finance Minister Christian Lindner said on…
South Korea should maintain current monetary, fiscal policies, IMF says
SEOUL (Reuters) – South Korea should maintain current, restrictive monetary and fiscal policies as it needs to take steps to return to sustainable finances and address inflation, the International Monetary Fund (IMF)…
Brazil central bank applauds Lula’s budget bill, stresses fiscal improvement need
BRASILIA (Reuters) – Brazil’s top central bank officials on Friday praised the government’s commitment to eliminate the primary deficit in its 2024 budget, saying fiscal improvement is vital for aligning inflation expectations…
South Korea focuses on fiscal discipline with smallest budget increase in two decades
By Jihoon Lee SEOUL (Reuters) – South Korea’s government plans to raise budget spending to nearly $497 billion for 2024, but the proposed increase is the smallest in two decades as authorities…
EU unlikely to approve new fiscal rules this year -Italy minister
ROME (Reuters) – The European Union is unlikely to agree on new fiscal rules by the end of this year as planned, Italian Economy Minister Giancarlo Giorgetti said on Monday. The EU…
Morgan Stanley warns of hit to equity valuation if US fiscal spending is cut
(Reuters) – Brokerage Morgan Stanley on Monday warned that lofty U.S. equity valuations could be questioned by investors if aggressive fiscal spending is curtailed after the downgrade of sovereign debt by ratings…
Cargill fiscal 2023 revenue rises 7% to record $177 billion
By Karl Plume (Reuters) – Global commodities trader Cargill Inc reported this week that its fiscal year 2023 revenue increased 7% from a year earlier to $177 billion, the highest ever for…
Emerson raises fiscal 2023 forecast on demand for industrial automation
(Reuters) – U.S. engineering and industrial software firm Emerson on Wednesday raised its fiscal 2023 forecast, as companies increase spending on automation in response to a tight labor market. The company’s shares…
Colombia gov’t risks incompliance with fiscal rule – committee
BOGOTA (Reuters) – Colombia risks falling out of compliance with its fiscal rule through greater spending proposed for 2024 and the financial impact of reforms being debated in Congress, an independent committee…
Turkey aims to ensure fiscal discipline and lower budget deficit -Finance Minister
ISTANBUL (Reuters) – Turkey is taking measures to re-establish fiscal discipline and control the level of the budget deficit, Finance Minister Mehmet Simsek said on Sunday. The budget deficit for the first…
Euro zone should tighten fiscal policy in 2024 to curb inflation -EFB
By Jan Strupczewski BRUSSELS (Reuters) – Euro zone governments should tighten fiscal policy next year more than currently planned to help the European Central Bank fight inflation and prevent interest rates rising…
Border Patrol Has Already Nabbed 127 Illegal Migrants On The Terror Watchlist This Fiscal Year, Up Nearly 30% From 2022
Border Patrol Has Already Nabbed 127 Illegal Migrants On The Terror Watchlist This Fiscal Year, Up Nearly 30% From 2022 Jennie Taer on June 20, 2023 Border Patrol arrested 127 illegal migrants…
Brazil Senate committee delays vote on new fiscal rules until Wednesday
BRASILIA (Reuters) -Brazil’s Senate Economic Affairs Committee has granted the opposition a 24-hour delay on a vote on new fiscal rules considered crucial by the government of President Luiz Inacio Lula da…
Australia’s Regional Express warns of losses in fiscal 2023
(Reuters) – Australian airline Regional Express on Tuesday forecast an operational loss for fiscal 2023, citing a global shortage of pilots and engineers, as well as significantly lower business travel in May…
China’s Jan-May fiscal revenue growth quickens
BEIJING (Reuters) – China’s fiscal revenues grew 14.9% in the first five months from a year earlier, quickening from a 11.9% rise in the first four months, data from the finance ministry…
Germany, France clash over reform of EU fiscal rules, deal seen by end-2023
By Jan Strupczewski BRUSSELS (Reuters) – France and Germany clashed on Friday over how to reform the European Union’s fiscal rules and both claimed they had the backing of many other EU…
Japan’s govt will vow to end deflation with bold monetary, flexible fiscal policy -draft
By Takaya Yamaguchi and Yoshifumi Takemoto TOKYO (Reuters) – Japan’s government will pledge to pull the economy out of deflation through bold monetary policy, flexible fiscal policy and a growth strategy, according…
‘It’s A Fiscal Win’: Former Trump Official Praises McCarthy Over Debt Ceiling Deal
‘It’s A Fiscal Win’: Former Trump Official Praises McCarthy Over Debt Ceiling Deal Harold Hutchison on May 30, 2023 Former Director of the National Economic Council Larry Kudlow said on Tuesday during…
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