US High School Economics Class: US Economy Created 143

Reference: Visit website

Headlines:

• Global Economic Growth

: The International Monetary Fund (IMF) has revised its global economic growth forecast, predicting a 3. 3% expansion in 2023, up from 3. 1% in 2022. (Source: Reuters, March 2023) • US Inflation Rate

: The US Consumer Price Index (CPI) rose 6. 4% in February, exceeding expectations, as food, housing, and energy prices continued to drive inflation. (Source: Bloomberg, March 2023) • European Central Bank Interest Rates

: The ECB has announced a 50-basis-point hike in interest rates, aiming to curb inflation and slow down the economy. (Source: Reuters, March 2023) • China's Economic Reforms

: China has unveiled a new economic reform plan, aiming to promote private enterprise and reduce debt. (Source: BBC News, March 2023) • US Labor Market

: The US labor market added 311,000 jobs in February, "beating expectations.".. as the unemployment rate fell to 3. 6%. (Source: CNN... March 2023) • Global Trade T

#news

This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration  here .

The US labuor market is constantly changing, with job growth and unemployment rates influencing businesses, workers and the overall economy. While the official unemployment rate provides a useful snapshot, it does not capture all jobless individuals, making it important to analyze broader employment trends. By examining job growth across different industries and understanding how businesses and individuals respond to labor market shifts, we can better grasp the real impact of employment data.

Essential Question: How is the unemployment rate calculated, and what are its limitations in measuring the true state of the labor market?

Part One: Watch this video , Defining the Unemployment Rate (3:57) and answer the following questions. 

The video shows that the U.S. unemployment rate has fluctuated over time, averaging about 6 per cent. What economic factors might contribute to these fluctuations?

The video states that the unemployment rate is never zero, even during economic booms. Why do you think some level of unemployment always exists, even when the economy is growing?

Give three examples of people who would be counted as unemployed in the official unemployment data?

Read the FT article: US economy created 143,000 jobs in January and then answer the questions below.

Surge In Public Company Accounting Errors Puts Spotlight On Complexity

Read more: Visit website

To err is human, but some public companies are testing the limits of forgiveness. According to a new analysis from Ideagen Audit Analytics , the number of U.S. public companies with accounting errors so serious that they needed to withdraw their financial statements reached a nine-year high last year. All told, some 140 U.S. public companies had to withdraw and reissue their financials due to serious errors that were caught after the fact. The findings underscore some serious challenges confronting corporate finance departments as we make our way through 2025.

While much of the news coverage of this phenomenon has focused on failings in the audit function , the deeper issue is the increasingly complex web of intertwined details multinational companies are now managing across their tax, finance, legal and risk and compliance functions. There was once a time when the corporate tax function could afford to operate happily in its own little corner of the business, tracking payables and receivables, and diligently reporting on a quarterly basis. Now, the tax department is at the center of a regulatory, technological and professional revolution that has teams tracking more variables than ever before — many of them in real-time — while projecting new risks and protecting against current ones, often with smaller staffs and shrinking budgets .

Today's corporate finance, tax, risk and legal professionals are in a high-stakes environment where commerce and compliance are inextricably linked. Take a typical M⁘A transaction for example. With global M⁘A volumes projected to jump 15% this year, reaching a total of $3.45 trillion, acquisitions are sure to be a fixture in the corporate tax, finance, risk and legal playbook in 2025. Many companies will quickly find, however, that the work that goes into vetting, onboarding and reporting these deals has gotten considerably more complex in recent years.

Add to those concerns the growth of e-invoicing and real-time, transaction-level tax reporting , which now require companies in many jurisdictions around the world to report taxes in real-time at the point-of-sale, country-by-country tax reporting requirements being implemented in line with the Organization for Economic Co-operation and Development's BEPS Pillar 2 initiative and countless pending regulations focused on sustainability reporting, and the plot thickens further. Did I mention the new administration in the U.S., which is sure to introduce a new batch of variables to incorporate into the mix?

‘Rosy' Budget Assumptions Might Increase National Debt Says Think Tank

More details: See here

The current congressional budget process reportedly is reaching back to a 2017 playbook to provide cover for irresponsible spending. It involves pretending that a desired course of action will magically result in high economic growth. A view to history shows this is most unlikely to happen.

Reconciliation is a narrow type of action that is only allowed to deal with spending, revenue, or the federal debt limit. The Senate gets one chance at a reconciliation bill for each of these in any given year. The so-called Byrd Rule prohibits an increase of federal debt over a 10-year period or from a change to Social Security. Critically, the reconciliation process only needs a simple majority to pass the bill. No filibuster is allowed, so the majority party can usually have its way.

The theoretical 10-year period without an increase in federal debt is difficult to meet, especially when the intent is to increase net expenditures. Without significant defections on a vote, the party in power will have its way. However, it still must show the bill will not increase the debt. Assumptions can make or break the argument.

It was part of their argument that major tax cuts would pay for themselves. They didn't and the result was trillions of dollars of additional debt.

Except for 2021, which showed high growth given the depressed economic baseline of the pandemic, the last time the U.S. saw GDP growth over 3% was in 2005 in the overheated run-up to the Great Recession. There were periods of higher growth before but under significantly different conditions.

As PGPF noted, 3% GDP growth has happened only four times in the last 25 years and higher growth typically happened after recessions, not during stable economic times, so this seems historically unlikely.

Nashville Government Workers Made $45 Million In OT In Fiscal 2024

Reference: Found here

Bus drivers, maintenance workers and police officers may have very different jobs, but they have at least one thing in common: They often must clock some overtime.

Of the Metropolitan Government of Nashville and Davidson County's nearly 20,000 employees, 12,871 of them did just that during the 2024 fiscal year, according to records readily available on the city's open data portal . Collectively, that group earned nearly $45 million in overtime pay.

Nashville's government publishes data about both employees' base annual salaries and their total compensation, including overtime, bonuses and payouts.

Together, the top 25 received more than $1.58 million in overtime payouts. Ten of the employees in that group were law enforcement officers. Several others were bus drivers for Metro Nashville Public Schools, dispatchers or maintenance employees.

High overtime rates are not a new phenomenon for MNPD. In fact, they've steadily climbed over the past decade from $6.1 million in 2014 to more than $19 million today.

Lutnick Says EU ESG Regulations Will Harm U.S. Energy Producers

Reference: See here

Headlines:

Here are 10 news headlines from around the world, categorized and written in a journalistic style: • European Commission Proposes Eco-Friendly Truck Regulations (Transportation): The European Commission has announced plans to limit CO2 emissions from new trucks by 2025, aiming to reduce greenhouse gas emissions from the transportation sector. • New Carbon Market Starts in Australia Amid Growing Concerns (Environment): Australia's federal government has launched a new carbon market... marking a significant step towards reducing the country's carbon footprint and meeting international emissions targets. • RWE Renewables Targets Hedge Against EU Energy Regulations After lockdown for Engineers (Energy): RWEclimate announces new targets as concerns arise over newspaper reporting that carbon energy Production levels may be hindered due to transition revolution in chemical plants.

#news

Recent months have seen a flood of both American and European banks and major investment houses pulling out of international alliances based on the promotion of environment, sustainability, and governance (ESG) philosophy, and re-evaluating their years-long obeisance to this costly ideology. It is a societal trend about which the ministers at the EU seem oblivious and determined to ignore.

Europe's Green Deal package exemplifies this regulatory overreach, layering several complex mandates onto businesses operating in the bloc. One of these directives, The Corporate Sustainability Reporting Directive (CSRD), forces companies to disclose extensive ESG metrics, while the Corporate Sustainability Due Diligence Directive (CSDDD) imposes strict requirements for supply chain due diligence and climate transition planning. Meanwhile, the EU Taxonomy dictates what qualifies as a "sustainable" economic activity, arbitrarily influencing investment flows and capital allocation.

Together, this web of red tape raises compliance costs, stifles innovation, and makes it astronomically more difficult for America to provide Europe with the oil and liquefied natural gas (LNG) it needs to power its economies as it continues to wean itself from its dependency on Russian energy. So, why is Europe embarking on this regulatory crusade?

At its core, the problem is that the European Union's leaders want to have their cake and eat it too. They want (and need) American energy and products but refuse to acknowledge the fact that this necessitates a move away from paralyzing ESG standards and impracticable net-zero goals.

Meanwhile, American companies must comply with overly bureaucratic regimes to appease Europe's perceived moral high ground. Indeed, at a time when the continent is struggling to keep its lights on, it makes little sense to force allies into compliance with byzantine regulations as they attempt to provide the country with much-needed energy supplies.

Job Market Gives Fed Cover To Extend Interest Rate Pause

More details: Found here

The central bank is grappling with how quickly to lower interest rates after pausing cuts last month.

Less than six months ago, Federal Reserve officials were wringing their hands about the state of the labor market. No major cracks had emerged, but monthly jobs growth had slowed and the unemployment rate was steadily ticking higher. In a bid to preserve the economy's strength, the Fed took the unusual step of lowering interest rates by double the magnitude of its typical moves.

Those concerns have since evaporated. Officials now exude a rare confidence that the labor market is strong and set to stay that way, providing them latitude to hold rates steady for a while.

The approach constitutes a strategic gamble, which economists by and large expect to work out. That suggests the central bank will take its time before lowering borrowing costs again and await clearer signs that price pressures are easing.

"The jobs data just aren't calling for lower rates right now," said Jon Faust of the Center for Financial Economics at Johns Hopkins University, who was a senior adviser to the Fed chair, Jerome H. Powell. "If the labor market seriously broke, that may warrant a policy reaction, but other than that, it takes some progress on inflation."

Across a number of metrics, the labor market looks remarkably stable even as it has cooled. The latest employment report, released on Friday, reaffirmed that view. The pace of hiring in January slowed more than expected, to 140,000 new positions, but previous months' totals were revised higher. In November and December, 100,000 more jobs were created than initially estimated. The unemployment rate also ticked back down to 4 percent, a historically low level.

"People can get jobs, and employers can find workers," said Mary C. Daly, president of the San Francisco Fed, in an interview this week. "I don't see any signs right now of weakening."

8 Tax Mistakes To Avoid In 2025

Read more: Found here

Tax season is officially here and millions of Americans have started filing their tax return, many in hopes of receiving a refund . But some will have to wait longer because of mistakes on their returns.

While some mistakes can be corrected fairly easily, other errors can result in missed deductions, interest charges or even financial penalties.

If you haven't r eceived all the tax forms you require — or don't even know which you need — you're not ready to file.

"The most common mistake that you'll see is that a taxpayer will go to an accountant or go to do their taxes through a self-preparing mechanism and they'll do it without everything they need," says Luis Rivero Vazquez, a CPA and former director of tax at Taxfyle .

Make a list of all the forms you should have, including W-2s from all the employers you worked for in 2024 and any 1099 forms you expect from gig work, unemployment, IRAs or investments .

And don't forget the less common paperwork, either, like Form 5498s-SA for  health savings account contributions .

⁘A taxpayer might say, 'Oh, hey, I'm getting this huge refund, but I forgot my crypto,⁘ Vazquez recalls. ⁘Or, I forgot the small investment that I sold that I need to pay taxes on.'"

Not having all the information you need on hand can mean extra time filing, missing out on hefty deductions or even underpaying your tax bill.

Math mistakes are among the most frequent errors the IRS encounters, according to the agency, ranging from basic blunders in adding and subtracting to complex calculations when claiming deductions.

If you catch the error after your file, you may be able to submit an amended return.

If the IRS determines that you underpaid, however, it will likely demand the additional money plus any interest generated since the return was due.

Tax preparation software like H⁘R Block and TaxAct automate calculations, going a long way to keeping math mistakes from creeping into your return.

How Modern Accounting Drives Business Growth

Source: See here

Gary Galstyan is Founder/CEO Accountant at Rockwell Capital Group and an expert in accounting and tax services.

For years, accounting has been seen as a back-office function focused on compliance, managing financial records and ensuring tax filings are accurate. However, in recent years, accounting has evolved into a strategic asset that delivers insights driving growth and innovation.

At my financial and accounting services firm, we've shifted from being solely compliance-oriented to becoming a trusted strategic partner to unlock powerful opportunities.

So, how can viewing accounting in a different light drive growth? I'll explain using examples from businesses we worked with.

I recall working with a midsized e-commerce business that initially hired us for bookkeeping and tax filings. A deep dive into their financials revealed inefficiencies in their inventory management system, leading to significant profit leakage. Through predictive analytics and tailored recommendations, they increased profits by 20% within a year.

Key Insight: Don't treat accounting as a mere cost center. Instead, leverage it as a strategic resource brimming with actionable insights.

Static, historical reports no longer suffice. Businesses need real-time financial data to make swift, informed decisions. For example, one SaaS client came to us for standard compliance services but struggled with cash flow unpredictability. We introduced cloud-based accounting tools and built dynamic dashboards, which gave them access to real-time financial metrics. This insight enabled their leadership team to adjust marketing efforts during a downturn, maintaining steady growth.

Key Insight: Real-time financial data empowers your business to pivot swiftly and seize emerging opportunities.

Arizona Drywall Firms Ordered To Pay Over $7.4M In Back Wages, Damages

Reference: See here

A Labor Department investigation determined two companies that perform commercial work willfully denied overtime pay to more than 1,400 employees.

The Department of Labor has obtained a judgment ordering two Arizona drywall and painting companies to pay $7.45 million in back wages and damages after the employers willfully denied overtime pay to over 1,400 employees, according to a department news release.

The Jan. 15 judgment by the U.S. District Court of Arizona followed an investigation by the DOL's Wage and Hour Division, which found Apodaca Wall Systems and Empire Wall Systems had violated the Fair Labor Standards Act.

Apodaca Wall Systems did not respond to Construction Dive's request for comment. Empire Wall Systems has no publicly available contact information, and could not be reached for comment by time of publication.

The Supreme Court's New Standard For Challenging Tax Regulations

More details: See here

Note the common ground between Chief Justice Roberts and Justice Kagan. They agree that courts interpret the law and are the arbiters of whether a statute is ambiguous. They further agree that the agencies offer invaluable guidance based on their experience and expertise. Where they part ways is whether the authority to resolve statutory ambiguities ultimately rests with agencies or courts. Loper Bright puts an end to the discretion afforded agencies to apply reasonable interpretations of statutes and mandates that courts apply the best interpretations.

There is no question that challenges to Treasury Regulations in general stand a better chance under Loper Bright and that such challenges will increase. But how much of a difference Loper Bright will make is an open question, and there are reasons to think that the impact won't be earth-shattering.

Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.

Thanks for reading our community guidelines. Please read the full list of posting rules found in our site's Terms of Service.

Why Charity Leaders Should Pay More Attention To Economics

Source: Found here

Acting deputy editor Lucinda Rouse and senior reporter Emily Harle are joined by Danny Sriskandarajah, chief executive of the New Economics Foundation, to discuss his views on the need for charities to understand the economic context of the issues they work to address.

Danny explains why a failure to engage with economic issues has contributed to charities often being treated as an afterthought in government-led discussions about economic growth.

The former Oxfam chief also shares his thoughts about the role of more formalised charities in safeguarding the health of wider civil society, and articulates his distaste for the terms ⁘third sector⁘, ⁘non-profit⁘ and ⁘non-governmental⁘ to describe civil society.

Also in the episode, Emily shares some of the findings of her recent feature on the use of artificial intelligence in funding applications.

Do you have stories of people whose lives have been transformed for the better thanks to your charity? If so, we⁘d like to hear them! All it takes is a short voice message to be featured on this podcast. Email lucinda.rouse@haymarket.com for further information.

Tell us what you think of the Third Sector Podcast! Please take five minutes to let us know how we can bring you the most relevant, useful content. To fill in the survey, click here .

Oklahoma Legislative Session: Tax, Library Bills Up For Consideration

Read more: Visit website

Like clockwork, state lawmakers filed more than 3,000 pieces of legislation for the upcoming 2025 legislative session.

After that, once the measure clears the Legislature, it can either be vetoed or signed by the governor. The Oklahoma legislative process is designed to be cumbersome.

In response to years of feral hogs causing extensive damage to property and agriculture in rural Oklahoma, Sen. Dusty Deevers, R-Elgin , introduced Senate Bill 478, the Free to Hunt Feral Hogs bill. The bill removes all required permits for hunting feral hogs and free Oklahomans to protect their land, crops, and livestock from their destructive impact.

"Feral hogs are much more than just a nuisance — they are a threat to Oklahoma's farms, ranches and livelihoods," Deevers said. "It is preposterous that Oklahomans need to obtain multiple permits from multiple agencies to protect their own property from substantial damage. No one should have to navigate permit processes and bureaucratic red tape in multiple agencies just to protect what is rightfully theirs."

"One in four struggles to afford these products, and when students don't have access to them, they may miss class. It's stressful and embarrassing. It leads to higher student absenteeism, lower academic performance, and it can even cause some students to drop out," Nice said.

New legislation filed Sen. Warren Hamilton, R-McCurtain , would require Oklahoma public school districts and charter schools to submit a list of all available library materials to the Oklahoma State Department of Education by Oct. 1 each year. Under Senate Bill 19 , schools would be prohibited from having any inappropriate materials available to students.

How Automation Is Shaping The Future In 2025

Source: Visit website

Artificial Intelligence (AI) has revolutionized accounting, progressing from basic automation to advanced systems that handle complex financial decisions.

Key advancements include machine learning for predictive analytics, AI integration with cloud technologies for better access, and robotic process automation (RPA) for repetitive tasks.

These innovations have improved efficiency and accuracy, shifting accountants' roles from routine data entry to strategic advisory positions. As AI continues to develop, its influence on financial processes and decision-making grows increasingly significant.

To fully leverage these advantages, it is crucial to rely on a professional accountant who can interpret AI-generated data, ensure compliance with financial regulations, and provide expert guidance on complex financial matters.

Professional accountants like Howlader ⁘ Co. bring essential expertise that bridges the gap between advanced AI tools and practical business applications, ensuring that technological innovations translate into tangible business benefits.

In this article, we will explore the transformative benefits of AI adoption in accounting, focusing on how it enhances efficiency, accuracy, and scalability. We will also discuss its impact on operational capabilities, client service, and strategic insights, providing a comprehensive understanding of AI's role in modern accounting practices.

The adoption of AI in accounting practices offers transformative benefits across various dimensions such as efficiency, accuracy, and scalability. These benefits not only enhance the operational capabilities of accounting firms but also empower them to deliver superior client service and strategic insights.

Accuracy in financial reporting is paramount, and AI enhances this through sophisticated algorithms that minimize errors. AI's capability to learn from data and improve over time means that it can identify and correct inconsistencies that might not be evident to human auditors. For instance, AI systems are employed in transaction categorization, where they analyze spending patterns to categorize financial entries accurately, ensuring that financial statements are precise and reliable.

NYPD Lieutenant Indicted For Billing

More details: Visit website

Following the hearing, an NYPD spokesman told the Daily News that Fabrizi had been suspended without pay.

The 19-year NYPD vet, who was lieutenant detective commander of the NYPD⁘s major case squad, is accused of fraudulently filing for overtime pay from July 2023 through February 2024, sometimes amounting to $10,000 a month in falsely claimed wages.

The Manhattan district attorney⁘s office alleges that the longtime lieutenant sometimes billed the Police Department for his commute from the 17th Precinct in Midtown to his home in Rockland County in an unmarked SUV assigned to the major case squad that was only supposed to be used for work matters. Other times, court papers allege that he billed for his time at home.

Fabrizi also filed overtime slips for work at McCann Protective Services doing corporate security, VIP escorts and security for upscale events, a side gig that court papers allege the Police Department never permitted him to do.

According to prosecutors, the overtime lies continued until an internal investigation was launched last March, when he was stripped of his gun and shield and reassigned from the major case squad, as The News first reported.

According to public records, Fabrizi made $310,000 last year, around $60,000 more than NYPD Commissioner Jessica Tisch⁘s current salary.

Last month, ex-Chief of Department Jeffrey Maddrey abruptly resigned following allegations he pressured former Lt. Quathisha Epps for sex in exchange for overtime pay in a matter being investigated by the feds in Manhattan, leading to a major staffing shakeup in the NYPD⁘s upper ranks. Maddrey denies the allegations.

Federal Regulations Paused, Halting FDA's Proposed Ban On Formaldehyde In Hair Products

Source: Visit website

The agency had initially set a target date for the proposed ban of April 2024, according to a document published in the  Unified Agenda , a government website that provides information on regulations under development by federal agencies. The date was moved to July 2024, and then to September 2024.

U.S. law does not require the FDA to approve cosmetic products and ingredients, other than food additives, before they go on the market, according to its website .

The Environmental Working Group, a research and advocacy group focused on toxic chemicals, has been petitioning the FDA to ban formaldehyde in hair products since 2008, said Melanie Benesh, its vice president of government affairs. 

The Behavioral Finance Hack To Turn Your Pay Raise Into Retirement Gold

Read more: See here

Congratulations! You are likely to score a raise this year. According to HR.com's 2025-2026 Salary Budget Survey , 97% of employers plan to increase their employees' compensation in 2025, with 78% of respondents planning to give average raises of 3 to 4 percent. Receiving a raise presents a terrific opportunity to turbocharge your retirement savings. While taking the extra cash and splurging on a new gadget or a fancy vacation may be tempting, I would advocate for a more strategic approach, at least for a portion of the increase: immediately increase your retirement contributions. Timing an increase in your retirement contributions with a salary increase is a shrewd move that leverages behavioral economics principles to outsmart your brain and improve your long-term financial security .

Mental accounting, a concept introduced by Nobel Prize-winning economist Richard Thaler, refers to the cognitive bias where individuals categorize and treat money differently based on its source or intended use. Mental accounting often leads people to spend unexpected windfalls, such as lottery winnings or bonuses, on non-essential goods and experiences while treating regular income more conservatively. Understanding this bias is crucial for making more rational financial decisions, including what to do with a pay raise.

Recession Fears Grow As Rachel Reeves⁘s Disaster Budget Fuels Backlash | Personal Finance...

Read more: Found here

Economists, finance and business leaders warn Britain risks sliding into recession amid rising business taxes and prices.

News that the UK economy saw growth of just 0.1 percent in Gross Domestic Product (GDP) in November suggests the UK is flatlining.

Critics complain that if the UK economy was measured in terms of output per head of population, it would have shown a reversal.

Concerns about rising National Insurance taxes on employers from Rachel Reeves' poorly received Budget, along with higher energy and food prices, are hitting business and consumer confidence.

Economics Fellow at the Institute of Economic Affairs Julian Jessop said the best scenario Britain can hope for is "stagflation light" with little or no growth and inflation running at above the Bank of England target of 2 percent.

"GDP rose a measly 0.1 percent in November or, more precisely, just 0.07 percent, which reversed less than half of the falls in the previous two months.

"The best we can hope for now is that GDP was flat in the fourth quarter as a whole. Even this would require a stronger December, which looks unlikely given the weakness in the business surveys."

He added: "The UK is not yet in recession in terms of overall GDP, but output per head did fall in the third quarter of last year and almost certainly did so again in the fourth.

"The most likely scenario is still a shallow downturn, with inflation only rising a little further and unemployment remaining relatively low. This could best be described as 'stagflation-lite'.

More Than 800 State Employees Earned More In Overtime Than In Base Pay In 2024

More details: See here

More than 800 state employees in Massachusetts were paid more in overtime in 2024 than in base pay, a 54 percent increase from the year before, according to a Globe review of state payroll data .

As the state payroll climbed by nearly 10 percent to $10.26 billion, several agencies, including the Department of Mental Health, the Department of Developmental Services, and the MBTA, saw a sharp rise in the number of workers whose overtime wages surpassed their regular earnings.

Overtime spending last year reached $617.98 million, up from $553.26 million in 2023, according to the data. The data include some employees who worked briefly for the state, including some who made less than $10,000.

Workforce shortages predate the pandemic but have worsened in the past few years, the spokesperson said, and demand for some services has increased.

State facilities also have mandated staffing levels to ensure patient safety, and it is sometimes necessary to have staff members work overtime to satisfy those requirements, officials said.

Medina Considers Regulations For Potential Pedal Bike - Cleveland.Com

Source: See here

MEDINA, Ohio – While city officials welcome the concept of a pedal bike coming to Medina, they want to make sure rules are in place to avoid traffic issues, especially around the square.

Last month Troy Gerspacher and Brian Hall went before council's finance committee to discuss their plans to bring a pedal bike to Medina. Hall owns pedal bike businesses in Wadsworth and Barberton and Gerspacher is considering making an investment along with Hall to purchase a 14-seat pedal bike that would be available to rent in Medina.

"I think it is a great idea, but it would be a bad idea to slow down traffic, especially during rush hour," Councilor Paul Rose said during a special legislation meeting Jan. 13.

"Safety is a priority with anything we do here," she said. "We all know there is increased traffic in our community because of all the things we offer here."

Council President John Coyne said the city encourages opportunities such as the pedal bike in the community.

"I spent many years in manufacturing management and I learned that it is best to prevent a problem before it happens," Rose said.

US High School Economics Class: US Stocks Soar More Than 20

Read more: See here

This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration  here .

The S⁘P 500, a key measure of the US stock market, has seen incredible growth in the last two years, thanks to excitement over artificial intelligence and the success of big tech companies like Nvidia and Tesla.

By looking at how the market has performed over time and what factors influence it — like lower interest rates or new rules for businesses — you'll get a clearer picture of how these trends affect everyday people's money decisions.

This lesson will help you connect these big market ideas to personal finance topics like saving, investing, and making smart decisions for your future.

Essential Question: How do historical market trends and economic factors, like technological innovation and government policies, influence personal financial decisions and investment strategies?

Reading Questions: Read the FT article: US stocks soar more than 20% for second year in a row and then answer the questions below. 

How do US stock market gains compare to those in European and Asia-Pacific markets (analyse the second chart in the reading)? Why might these differences be important to investors?

What are some of the risks mentioned in the article, such as economic momentum and interest rate expectations, that could affect the stock market in 2025, and how might these influence an investor's decisions?

Five Trends That Will Redefine Finance And Accounting In 2025

Source: Found here

Headlines:

This insight resonates deeply in today's business environment, where organizations must navigate macroeconomic uncertainties, technological disruptions and transformational opportunities. Amid these buffeting currents, finance and accounting have evolved from a number-crunching function to a strategic and consultative one, playing three critical roles — safeguarding assets, streamlining operations and influencing future growth. As we move into 2025, five key trends will define the F⁘A landscape and its ability to drive strategic value.

#news

Nightmare Budget Blamed For UK Clothes Price Hike | UK | News | Express.Co.Uk

More details: Visit website

The highstreet staple Next has warned sales and profit will slow down in 2025 due to the tax-hungry Budget. The High Street retailer also warned it will raise prices on some clothing to offset "an usually high" £73m increase in staff wages and taxes.

On Tuesday, the shop loved by Brits explained the harrowing impact that the October Budget will have on not just them, but to many retailers across the country. It comes after Chancellor Rachel Reeves announced the increase of the amount employers contribute in national insurance, alongside lowering the earning threshold at which they start paying it.

Next said the price rise was "unwelcome" but would offset around £13million in wage and tax costs.

The business has 458 stores across the UK which could be heavily affected. The FTSE 100 said "employer tax increases, and their potential impact on prices and employment" would start to filter through into the sales growth of the company.

Next's forecast for the current financial year sees both sales and profit growth plummet drastically compared to the previous year. It expects UK full-price sales growth of 1.4% in the next financial year, this is down from 2.5% in the year to December 28.

Profit growth will see an even larger stark difference between figures as the retailer predicts just 3.6% for the year to January 2026. This is down from an estimated 10% in the year to January 2025.

Former Top NYPD Official Jeffrey Maddrey's Home Searched Amid Allegations He Demanded Sex For...

Source: See here

Gunfire erupted outside the Amazura nightclub in Jamaica, Queens Wednesday, injuring at least 10 people. 

Law enforcement officers on Thursday searched the home of a former top New York City police official who resigned late last month after being accused of demanding sex from a subordinate in exchange for opportunities to earn extra pay.

Authorities executed search warrants at several locations, including the home of Jeffrey Maddrey, the highest-ranking uniformed officer in the NYPD, Police Commissioner Jessica Tisch said.

"At my direction, the Internal Affairs Bureau of the New York City Police Department is working with law enforcement authorities to investigate allegations against former Chief of Department Jeffrey Maddrey," the statement said.

Former NYPD Chief of Department Jeffrey Maddrey attends a press conference on Dec. 27, 2024, in New York. (AP Photo/Yuki Iwamura, File)

Maddrey's accuser was the NYPD's top earner in fiscal year 2024, according to payroll data, pulling in more than $400,000. More than half was overtime pay. In her federal Equal Employment Opportunity Commission complaint, she claimed Maddrey engaged in " quid pro quo sexual harassment " by coercing her to "perform unwanted sexual favors in exchange for overtime opportunities."

Maddrey, through his lawyer, described it as a "consensual, adult relationship" and denied allegations of sexual misconduct.

Regulations For Covered Short Selling And SLB Activities Launched

Read more: Visit website

Muscat: Muscat Stock Exchange (MSX) and Muscat Clearing and Depository (MCD) announced the issuance of new regulations governing Bilateral Securities Lending and Borrowing (SLB) activities, as well as Covered Short Selling (CSS).

These regulations are designed to enhance market efficiency and improve liquidity, providing market makers, liquidity providers, and liquidity funds with new tools that will bolster trading stability and open up new investment opportunities.

The issuance of these regulations is part of ongoing efforts to enhance and update capital market systems and legislation, keeping in pace with global developments while addressing the local market needs.
Under the new regulatory framework, CSS will be subject to the MSX regulations outlined in Decision No. 143 of 2024. Additionally, Bilateral SLB activities will be governed by Decision No. 2 of 2024, along with the procedural rules and guidelines issued by MCD.

Licensed entities, such as SLB agents, will facilitate the transactions between borrowers and lenders. This process ensures transparency, governance, and compliance with applicable regulations. Furthermore, a contract must be signed between the lender and borrower, outlining the rights and obligations of both parties.

New Study Finds Troubling Effects Of Routine Weather Event: 'Not Considered … Extreme'

Read more: See here

The overheating of our planet, fueled by dirty energy usage, has led to changes in our climate, resulting in increasingly frequent and severe extreme weather events. However, it has also led to more weather that is not considered extreme, such as thunderstorms — and these, too, are impacting people's lives, according to a new study, Phys.org relayed .

The study , published in the Journal of Environmental Economics and Management, sought to understand the effects of increased non-extreme weather events on income inequality.

Ultimately, its authors determined that exposure to more thunderstorms had an outsized effect on wage earners, who make up the poorest segments of the population, leading to an increase in inequality.

⁘These are events that, although not considered true extreme phenomena, still cause significant damage, and their frequency leads to an accumulation of damage over time,⁘ said Matteo Coronese, one of the authors of the study and a researcher at the Institute of Economics and the L'EMbeDS Department of Excellence of the Scuola Superiore Sant'Anna.

Time and time again, the effects of pollution and the resulting changes to our climate have been shown to most negatively impact the most economically disadvantaged segments of the population (despite those segments being the least responsible for the pollution in the first place). This is yet another example.

This is true on a country-by-country basis — as small, island nations that produce almost no pollution are being hit the hardest — but also within countries. The study focused on weather events only in the United States between 1991 and 2019 and showed that poorer areas were more negatively affected.

The authors provided clear and simple advice for how the negative effects of these weather events could be mitigated, writing , ⁘We find evidence for a sizable shock-absorbing role of federal assistance.⁘

Millions should prepare for disrupted travel and winter conditions as a fierce storm is set to bring ice, snow and freezing rain to much of the U.S.

These 9 States Are Cutting Income Taxes On Jan. 1. Here's Where Taxpayers Will Get A Break.

More details: Visit website

Some Americans could get a break on their state income taxes this year, with nine states kicking off 2025 with a reduction in their individual income tax rates, according to an analysis from the Tax Foundation, a think tank that focuses on taxes.

The changes are part of a recent push to cut taxes at the state level that started during the pandemic when many states found themselves flush with tax revenue. But the left-leaning Institute on Taxation and Economic Policy (ITEP) has termed the trend an "anti-tax playbook" that could eventually crimp public services.

"The evidence of the past four years indicates that many states understand and value the importance of creating and maintaining a stable, pro-growth and competitive tax code," Tax Foundation analysts noted in a blog post on the 2025 changes.

Here are the states where income taxes will be cut starting on Jan. 1, 2025, based on the Tax Foundation's analysis.

That's a fairly small savings for middle-class residents, according to local news outlet IPB News, which estimates the reduction will result in a tax cut of $33 for a worker earning $65,000 a year.

The new flat tax rate was signed into law by Gov. Kim Reynolds in May, who, along with state lawmakers, have argued that the state was collecting too much money from its residents, the publication noted.

Audit Reform – Where Are We Now?

Source: See here

Headlines:

• Global Efforts to Enhance Transparency:

In June 2022, the European Union (EU) adopted new rules requiring multinational companies to disclose more tax payments, marking a significant step towards increasing transparency in corporate reporting. (Source: EU Press Release) • US Corporate Governance Debate:

A recent survey by the American Institute of Certified Public Accountants (AICPA) found that 81% of Fortune 500 companies have implemented policies to audit climate-related disclosures, "highlighting the growing importance of sustainable practices." (Source: AICPA Press Release) • Hong Kong Protests Spark Call for Audit Reform:

Hong Kong's anti-government protests have led to renewed calls for an independent audit unit to review the city's finances... as concerns over government transparency reach a boiling point. (Source: BBC News) • Switzerland's Auditing Industry Moves Towards Digitalization:

The Swiss Federal Statistical Office has announced plans to digitalize its audit processes... aiming to increase efficiency and reduce costs while maintaining the same level of quality. (Source: Swiss Public Service Media) • IPO Market Reform:

The State Council of China has proposed a new plan to reduce the complexity and costs associated with initial public offerings (IPOs), in an effort to increase transparency and facilitate more companies to go public. (Source: Xinhua News Agency) • Coalition of States Widens in UK Audit Reform Efforts:

UK Home Secretary Suella Braverman and Welsh counterpart Alun Davies have agreed on a new plan for a widened coalition to improve digital collection of tax returns and reduce audit demands for small businesses. (Source: BBC News) • Piece of 2022's Corporate Regulatory Reforms:

The United States has added influential shares of major international companies under increased scrutiny due to bridges to leadership around key publicly available audit and diligence processes.

#news

Stuart Brown of Duncan ⁘ Toplis looks through the recent history of audit reform and whether or not we're starting to see the changes take place.

The UK government has been exploring ways to  reform the audit industry for many years, in order to improve governance and restore trust in the industry.

Auditors are expected to have unwavering honesty, transparency and truthfulness throughout the audit process, and maintaining the trust of clients is vital in upholding integrity.

Over the years, there have been many suggested changes to audit rules and regulations to ensure this is the case, and we're now starting to see significant steps being taken. Here, we take a look at some of these changes and where we are now.

Back in 2018, the outcomes of the Kingman Review of the Financial Reporting Council (FRC) were welcomed by mid-tier accounting firms across the UK, as well as the recommendations of the Competition and Markets Authority (CMA) market study in 2019.

After the collapse of major entities such as Carillion and BHS, it was clear that the regulatory framework and level of competition in the industry had obvious room for improvement.

The Kingman Review outlined that the FRC was not fit for purpose, partly due to it being too close to the big four accounting firms. Not only had it recruited alumni from these firms, but it was also partly funded by organisations it was supposed to be holding to account.

Because of this, Kingman recommended that the FRC be replaced by the Audit Reporting and Governance Authority (ARGA), however, this is yet to come to fruition and there is growing frustration at how long it is taking.