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Fed Lockhart: Rate hike may come after midyear
Atlanta Fed President Dennis Lockhart, a centrist, said Thursday he would increase interest rates midyear or even later—as the economy throws off "mixed signals" at the moment. Economic growth in the first quarter looks "very soft," he told CNBC—held back by the harsh winter weather in February and the fluctuations in oil prices. He did, however, say the rough patch looks "transitory." A forecast model from the Atlanta Fed suggested the economy was barely growing in the first quarter, following an unexpectedly steep 1.4 percent drop in durable goods orders in February. CNBC
Submitted 1 years 329 days ago

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Fed’s Janet Yellen Pitches Cautious Tack on Rate Increases
Federal Reserve Chairwoman Janet Yellen laid out a road map for what happens after the U.S. central bank lifts short-term interest rates later this year. Her heavily footnoted, 18-page speech on the subject to an audience of economists in San Francisco can be summed up in two simple words: Not much. Ms. Yellen, a bit more than a year into her tenure as the central bank leader, said the Fed would likely end up taking a “gradualist approach” to interest rate increases in the years ahead, meaning it would move in small steps and with much caution to avoid undermining a grudging economic expansion. The Wall Street Journal
Submitted 1 years 329 days ago

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U.S. Inflation Undershoots the Fed’s 2% Target for the 34th Straight Month
The Federal Reserve’s preferred measure of inflation in February fell short of the central bank’s 2% target for the 34th straight month. The price index for personal consumption expenditures was up only 0.3% from a year earlier, the Commerce Department said in Monday. The last reading above 1% came in November. The oil price crash, a strong dollar and weak overseas economies have all kept inflation at bay. But some slack in the U.S. economy may also be keeping prices muted. Taking out food and energy, inflation barely firmed to 1.4% from 1.3% in January. The Wall Street Journal
Submitted 1 years 329 days ago

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A Decade After Hurricane Katrina, 81 Percent of New Orleans Homes Are Rebuilt
Nearly 10 years after Hurricane Katrina and subsequent levee breaks flooded 80 percent of the Crescent City, a study by the University of New Orleans Department of Geography found that 81 percent of homes damaged in Orleans and St. Bernard parishes have either been rebuilt or are in the process of being rebuilt. HighBrowMagazine.com
Submitted 1 years 329 days ago

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Projects in $250 million bond bill considered by Mississippi Legislature
JACKSON, MISS. — Mississippi could sell bonds to borrow $250 million to fund a list of projects in Senate Bill 2906. Some additional projects are contained in House Bill 1630. They include $18 million for a bridge in Vicksburg, another $12 million for an aquarium in Gulfport, $1 million to renovate an arts center in Greenville and $500,000 for a Catfish Row museum in Vicksburg. Here are bond allocations in Senate Bill 2906: Sun Herald
Submitted 1 years 329 days ago

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Vistakon’s Phase 7 at least $19M expansion
Johnson & Johnson Vision Care Inc. is exploring another manufacturing expansion at its growing Deerwood Park campus that would cost an estimated $19 million to build and likely much more to equip. Jaxdailyrecord.com
Submitted 1 years 329 days ago

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Mississippi's aquarium Gulfport solidifies plans for regional tourist attraction downtown
GULFPORT -- The historic downtown library so many fought to save is being incorporated into the city's plans for a major aquarium development that will cost $90 million to $120 million. The library would become a welcome center and transit area for residents and tourists who visit the aquarium and Gulfport's waterfront, Mayor Billy Hewes said. Sun Herald
Submitted 1 years 329 days ago

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70 jobs available in Greenheck NC expansion
Greenheck Fan Corporation will expand its production team in Cleveland County by hiring 70 full-time positions over the next six months. The company has been a part of Cleveland County’s manufacturing landscape for more than eight years. Since opening plants in Kings Mountain and Shelby, Greenheck has invested more than $37 million in the county. Gaston Gazette
Submitted 1 years 329 days ago

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Volvo planning US assembly plant
It has taken Volvo some time, but the Swedish auto brand owned by Geely has finally decided to build a factory in the US. When complete, the site will give the company manufacturing locations in Europe, Asia and North America. The exact details about the forthcoming plant are still under wraps, but the planned investment totals about $500 million. According to Reuters, the site selection should be complete in the coming weeks and production is expected to begin by 2018. An annual capacity of around 120,000 units is forecast, and some of those vehicles would be exported. The exact models to be made domestically are not yet known. Autoblog.com
Submitted 1 years 329 days ago

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Study on Charlotte economic development reaches two conclusions
Now we have a hint at what a Foundation For The Carolinas study will recommend as a way to put to rest any conflicts between the Charlotte Chamber and the Charlotte Regional Partnership over economic development. The study, provided through the foundation's Catalyst Fund, says: Charlotte Business Journal
Submitted 1 years 329 days ago

 

 

 

Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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