TOKYO (AP) — SoftBank Group trimmed its losses for the fiscal year through March to about a quarter of the red ink it racked up a year earlier, as its investment losses declined, the Japanese technology company said Monday. Annual sales at Tokyo-based SoftBank Group Corp. rose 2.8% to 6.76 trillion yen ($43 billion). Losses […]
D.C. Mayor Muriel Bowser is calling for tax increases and deep cuts to social programs to offset downtown revenue losses in the budget she presented Wednesday to the D.C. Council. Her fiscal 2025 proposal calls for $21 billion in operating funds, up from $19.8 billion in fiscal 2024 and a new high for the nation’s […]
The federal budget is headed for a world of pain in the coming decades, the Congressional Budget Office projected Wednesday, but said things are looking a little better because of the spending cuts the GOP pressured President Biden into making last year. CBO’s long-term outlook shows spending, already larger than usual, will grow even more, […]
House Speaker Mike Johnson said he wants to “turn the page” on the current spending fight and shift focus to next year’s appropriations cycle ahead of a vote Thursday to keep the government open. Congress is slated to vote on its fourth stopgap bill to avert a partial government shutdown and could put an end […]
Denver is buckling under a financial crisis caused by illegal immigration. But the fault lies not in the stars, but with the city itself. “Denver will cut hours at recreation centers, end in-person vehicle-registration renewals and eliminate spring flower beds to save $5 million this year, a response to the migrant crisis that is expected […]
Federal Reserve Chairman Jerome Powell warned that the United States government is on an “unsustainable fiscal path” Sunday as the national debt has ballooned to record levels. “In the long run, the U.S. is on an unsustainable fiscal path,” Mr. Powell said in a “60 Minutes” interview on CBS. “… And that just means that […]
Here we go again with Bidenflation? Despite the Fed jacking up interest rates faster than at any time since the inflation-crushing Reagan-Volcker hikes of 1981 — and sucking liquidity out of the economy via quantitative tightening (QT) — inflation remains stubbornly above the Fed’s 2% target… and it could come roaring back thanks to […]
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