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    North Carolina's Office of State Budget and Management and the General Assembly's Fiscal Research Division released an updated revenue forecast Tuesday that showed the state is expected to collect $60.4 billion in revenue over the next two years, reflecting a $6.5 billion increase over previous estimates. The new estimate comes as the General Assembly draws closer to the deadline for...
    Chairman of the Federal Reserve Jerome Powell testifies during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on September 24, 2020, in Washington, DC.Drew Angerer | AFP | Getty Images The Federal Reserve will stay on course with its easy monetary policies for at least the rest of this year,...
    (CNN)Amid a worsening drought across the southwestern United States, residents are hoping for rain from the upcoming monsoon season. But there may not be much luck this year."A drier than normal Southwest monsoon season is slightly favored for 2021," Scott Handel, lead meteorologist at the National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center (CPC), told CNN."Confidence in below-normal precipitation...
    U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world's largest economy from the impact of the coronavirus, during a news conference in Washington, March 3, 2020.Kevin Lamarque | Reuters Stocks could trade sideways as investors await the outcome of the Federal Reserve's June meeting...
    Shoppers wear protective masks inside the Glendale Galleria shopping mall in Glendale, California, on Thursday, May 6, 2021.Bing Guan | Bloomberg | Getty Images One of the country's largest retail trade groups, the National Retail Federation, boosted the industry's outlook for the year on Wednesday, saying it anticipates "the fastest growth that we've seen in this country since 1984." Retail...
    More On: global economy World Economic Forum cancels 2021 Singapore event amid pandemic Suez Canal snafu costs $10 billion a day: report Moot canal: Suez logjam could stretch on for weeks in major threat to world economy Sounds of Silence: Earth had its quietest year in decades amid COVID-19 The World Bank is upgrading the outlook for global growth...
    DETROIT (AP) — General Motors Co. says efforts to manage the global computer chip shortage have worked better than expected, so its financial results will improve over previous forecasts. The company said in a statement Thursday it has made engineering changes, prioritized semiconductor use and pulled some potential deliveries into the second quarter. So now the first-half earnings will be...
    Plane makes emergency landing on busy California highway Biden to Amend Trump’s China Blacklist, Target Key Industries LITTLE ROCK, Ark. (AP) - Arkansas’ surplus for the fiscal year is approaching $1 billion. © Provided by Jonesboro KAIT The Department of Finance and Administration on Wednesday said the state’s net available revenue for the fiscal year that began July...
    Thunderstorms and downpours will cause additional flooding in the Mississippi Valley on Wednesday, while residual flooding is still occurring across the Southern Plains due to runoff from heavy rain over the last few days. Scattered storms will move into the Eastern third of the country tomorrow.  The national forecast for Wednesday, June 2. (Fox News) Excessive heat warnings and...
    California’s strict public health measures during the pandemic protected its economy, setting the stage for an even faster recovery in the state than nationwide, UCLA economists reported. The Golden State’s strong technology and white-collar business sectors, along with a relatively rapid boost in home building, will buoy its economy, offsetting a slower return of tourist-dependent leisure and hospitality jobs, according...
    GENEVA - The World Meteorological Organization (WMO) warns the United States and countries in the Caribbean and Central America to be prepared for what is expected to be another above-normal Atlantic hurricane season. The outlook for this year’s hurricane season, which began Tuesday, is grim. Last year’s record-breaking season had 30 named tropical storms, including 19 hurricanes, six of...
    Good morning!Memorial Day begins clear and slightly milder with temperatures in the middle to upper 50s. Much warmer air lurks in our hills and mountains, 60s and 70s.VIDEO: Meteorologist Mike Nicco has your AccuWeather forecast.RELATED: Triple digit heat coming to Bay Area for Memorial DayClouds creep north up along the Peninsula Coast today as a local sea breeze develops. This...
    More On: best buy Roof partially collapses at Queens Best Buy storage unit Fry’s Electronics abruptly goes out of business Watch this raccoon ‘go shopping’ at Best Buy in Toronto Best Buy’s biggest Black Friday deals of 2020 Best Buy raised its annual sales forecast on Thursday, saying the latest round of stimulus checks had kept consumers buying home electronics, while acknowledging...
    Customers wait outside of a Best Buy store in downtown Toronto, Ontario on November 23, 2020 to pick up their online orders.Geoff Robbins | AFP | Getty Images Best Buy said Thursday that sales grew 36% in the fiscal first quarter, as shoppers' stimulus-fueled spending spree included consumer electronics. Shares of the company nearly 3% in premarket trading after the...
    In this article DKSMannequins stand next to merchandise displayed for sale at a Dick's Sporting Goods store in West Nyack, New York.Craig Warga | Bloomberg | Getty ImagesDick's Sporting Goods reported Wednesday fiscal first-quarter earnings and sales that topped analyst estimates, saying kids returning to team sports boosted sales. Dick's also raised its full-year financial outlook, citing building momentum. Shares...
    Inflationary pressures jumped to levels not seen since the high inflation years of the early 1980s, the Philadelphia Federal Reserve’s survey of manufacturing businesses showed Thursday. The Philly Fed said the prices-paid component of its monthly manufacturing index rose 7.7 points to 76.8 in May, a big jump for the index and the highest level since March 1980. And businesses...
    PHILADELPHIA (CBS) — Summer-like weather is here, and with the arrival of summer every year comes the beginning of hurricane season. Meteorological summer and the official hurricane season both begin on June 1 — less than two weeks away. On Thursday, NOAA issued their annual hurricane forecast. Once again, it’s expected to be an above-average season. READ MORE: Police Identify...
    Today will be mostly sunny to partly cloudy and about 10° cooler than yesterday with highs in the 70s… 80s inland and 70s/60s along the coast. (Credit: CBS2) Tonight will be partly cloudy and a touch cooler. Temps will fall into the 50s with some 40s across our suburbs. READ MORE: New York City Gun Violence Continues With 8-Year-Old Boy...
    After a 2020 fire season that shattered records and killed 33 people in California, federal wildfire experts predict another tough one for the state due to widespread and worsening drought conditions. Interior Secretary Deb Haaland and Secretary of Agriculture Tom Vilsack told reporters Thursday that they had been briefed by government wildfire experts at the National Interagency Fire Center in...
    In this article 9988-HKSignage at the Alibaba Group Holdings Ltd. headquarters in Hangzhou, China, on Wednesday, March 24, 2021.Qilai Shen | Bloomberg | Getty ImagesGUANGZHOU, China — Alibaba swung to a net loss in its fiscal fourth quarter as a massive antitrust fine it received last month weighed on its earnings, while revenue beat expectations. Here's how Alibaba id versus...
    In this article WENA Wendy's food order is prepared at the Rebel Foods Ltd. cloud kitchen in Noida, India, on Friday, March 12, 2021.Bloomberg | Getty ImagesWendy's bet on breakfast is paying off as the fast-food chain on Wednesday reported better-than-expected earnings and raised its forecast for the year. Wendy's shares were recently down about 2%, as stocks in the...
    By The Associated Press U.S. highways will be far busier over the Memorial Day holiday weekend than last year, but traffic still won’t reach pre-pandemic levels, according to a forecast by the AAA auto club. AAA officials say travel will increase because more Americans have been vaccinated against COVID-19 — about one-third of U.S. adults — and consumer confidence is...
    If dollars and cents were the only barriers to reaching a deal on the two-year Minnesota state budget, two pieces of financial news Monday did nothing to put an agreement further out of reach. Long-awaited guidance from the U.S. Treasury on how states and local governments can spend the $350 billion in direct aid from the American Rescue Plan appears...
    By Giorgio Panetta, CBS2 Chief Meteorologist/Weather Producer Hello! READ MORE: Hundreds Of Bodies Of COVID Victims Still Being Stored In Refrigerated Morgue In Brooklyn We unfortunately start off the weekend damp and mostly cloudy. A few peeks of sunshine are to be expected east of NYC. Otherwise, all bets are off for a shower chance at really any point....
    A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021.Hollie Adams | Bloomberg | Getty Images LONDON — The Bank of England on Thursday said the U.K. economy is on track for a stronger economic recovery than it previously expected, underpinned by the country's comparatively quick Covid-19 vaccination campaign. The...
    People walk by a CVS Pharmacy store in the Manhattan borough of New York City.Shannon Stapleton | Reuters CVS Health reported a strong first quarter and raised its full-year forecast, as customers came to its stores for Covid-19 vaccinations, tests and prescriptions. Shares of the company were up 3% early Tuesday in premarket trading. Here's what the company reported for...
    Teacher Appreciation Week: In a tough year, these educators stood out -- and gave us hope. Prince Harry takes stage at L.A. concert urging vaccine equity: When any suffer, we all suffer DUBAI (Reuters) - The $2.2 trillion global Islamic finance industry is expected to grow 10%-12% over 2021-2022 due to increased Islamic bond issuance and a modest economic...
    In this article TWTRCEO of Twitter Jack Dorsey testifies before the Senate Intelligence Committee on Capitol Hill in Washington, DC, on September 5, 2018. (Photo by Jim WATSON / AFP) (Photo credit should read JIM WATSON/AFP/Getty Images)Jim Watson | AFP | Getty ImagesTwitter's first quarter earnings are out, and the stock is down 7% in after-hours trading. Here's what Twitter...
    Pinterest CEO Ben Silbermann speaks in conversation with Matthew Lynley of TechCrunch during the TechCrunch Disrupt SF 2017 on September 18, 2017 in San Francisco, California.Justin Sullivan | Getty Images News | Getty Images Shares of Pinterest dropped as much as 10% in after-hours trading on Tuesday after the company reported its first-quarter earnings, in which it missed on user...
    Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on "The Quarterly CARES Act Report to Congress" on Capitol Hill in Washington, U.S., December 1, 2020.Susan Walsh | Reuters The Federal Reserve will remain on hold for the rest of this year despite an increasing belief among respondents to the CNBC Fed Survey that it should throttle back...
    Evan Spiegel, CEO and co-founder of Snap Inc.Adam Galica | CNBC Snap's stock fell more than3% in after-hours trading on Thursday after the company reported its first-quarter results despite beating Wall Street's expectations on earnings, revenue and user growth. Here's what Snap reported versus Wall Street's estimates: Adjusted loss per share: 0 cents vs. 6 cents per share forecast...
    TEMPERATURES are set to rocket to 25C this week as a 500 mile-wide continental heat plume is forecast to engulf Britain. Hotter-than-average temperatures are forecast for next weekend and will continue well into the month of May. ???? Read our UK weather live blog for the latest forecasts   13The south west coast path was busy with visitors walking to Durdle Door...
    (AP) — UnitedHealth’s first-quarter profit jumped about 44%, and the nation’s largest health insurer also hiked its 2021 outlook despite expecting more hits from the COVID-19 pandemic. The company said Thursday that the performance of its Optum division was particularly strong. READ MORE: Plus-Up Stimulus Checks Going Out To Those Who Were Underpaid UnitedHealth raised its full year profit forecast...
    MINNETONKA, Minn. (AP) — UnitedHealth profits jumped about 44% in the first quarter and the nation’s largest health insurer boosted its outlook for the year. The company said Thursday that the performance of its Optum division was particularly strong. The Minnetonka, Minnesota, company raised its full year earnings outlook to $17.15 to $17.65 per share, and adjusted earnings...
    The government posted a $660 billion deficit in the month of March as the Biden administration spends money to try to accelerate the recovery from the pandemic. In total, the United States spent $927 billion and only took in $268 billion in tax revenues last month, according to the Treasury Department’s monthly statement released on Monday. March’s loss brought...
    By Mark McIntyre, CBS2 Meteorologist/Weather Producer Good Sunday morning everyone! It’s a gray and cool start across the region and that will be the trend of the day. Expect showers developing this morning and continuing through this afternoon. READ MORE: 12-Year-Old Child Shot In Chest In Brooklyn Temps will be kept down due to clouds, rain, and northeast breezes, with...
    DENVER (CBS4) – The first forecast for the 2021 Atlantic hurricane season from scientists at Colorado State University was released on Thursday. Forecasters expect an above-normal year once again with a total of 17 named storms. CSU forecasters say eight of the storms this year will be hurricanes, four of which will reach major hurricane status, meaning a Category 3...
    NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Thursday: Okta Inc., up $15.92 to $238.48. The cloud computing company gave investors an encouraging update on its operations and plans for growth. Silicon Motion Technology Corp., up $4.33 to $69.17. The supplier of components to the chip industry gave investors a surprisingly good update on its...
    London (CNN Business)President Joe Biden's $1.9 trillion stimulus package will boost the US economy and drive faster global growth this year, the International Monetary Fund said Tuesday, though it warned that many countries continue to suffer from the pandemic and are at risk of being left behind.The US economy will surpass its pre-pandemic size as growth reaches 6.4% this year,...
    The International Monetary Fund's logo at its headquarters in Washington, D.C.Thomas Trutschel | Photothek | Getty Images LONDON — The International Monetary Fund is now expecting a stronger economic recovery in 2021 as the Covid-19 vaccine rollout is underway, but it warns of "daunting challenges" given the different vaccination paces across the globe.  The world economy is now expected to...
    WASHINGTON (AP) — The rollout of COVID-19 vaccines and vast sums of government aid will accelerate global economic growth to a record high this year in a powerful rebound from the pandemic recession, the International Monetary Fund says in its latest forecasts. The 190-country lending agency said Tuesday that it expects the world economy to expand 6% for 2021, up...
    Home prices and, for the most part, sales, have continued to rise in the Northern Virginia market in the last year, even despite the pandemic, but the unanswered question is: what will happen in the future? A consensus forecast report from the Center for Regional Analysis and George Mason University and the Northern Virginia Association of Realtors aims to answer...
    By Giuseppe Fonte, Angelo Amante and Gavin Jones ROME, Mar 29 (.) – The Mario Draghi government expects the Italian economy to grow 4.1% this year and 4.3% in 2022, three sources close to the matter told . ahead of the official release of the reports. new forecasts next month. The forecast for 2021 supposes a strong downward revision with...
    Bloomberg Unemployment data 4Q; S&P Futures Fall: Argentina Today (Bloomberg) – In Argentina, Indec publishes unemployment data for the fourth quarter at 4pm, after reporting a rate of 11.7% in the previous period; it will also release the sales of shopping centers and supermarkets in January. The Minister of Economy, Martín Guzmán, returns to Buenos Aires from the US, after...
    Bloomberg Thailand Keeps Rate at Record Low, Cuts GDP Outlook With Tourism Stalled (Bloomberg) — The Bank of Thailand kept its benchmark interest rate unchanged at an all-time low and cut its growth forecast as it lets fiscal measures take the lead in reviving the economy from its sharpest fall in more than two decades.The central bank held the policy...
    Bloomberg Thailand Keeps Rate at Record Low, Cuts GDP Outlook With Tourism Stalled (Bloomberg) — The Bank of Thailand kept its benchmark interest rate unchanged at an all-time low and cut its growth forecast as it lets fiscal measures take the lead in reviving the economy from its sharpest fall in more than two decades.The central bank held the policy...
    Dallas Federal Reserve President Robert Kaplan told CNBC on Tuesday that he likely will favor an interest rate increase before the end of 2022. Though he doesn't see inflation becoming a problem anytime soon, the central bank official said he expects the economy to progress enough to allow for the Fed to start pulling back on the high levels of...