Source: MSN PG&E Corp. warned it will shut off power again on Saturday to as many as 2.5 million people as violent winds batter the state — in what will be California’s largest intentional blackout ever. The outages will impact up to 850,000 homes and businesses in Northern California, including parts of Oakland, Berkeley and …
Author: wkiag
U.S. Annual Budget Deficit Nears $1 Trillion With 26% Rise
Source: Bloomberg The U.S. budget deficit widened to almost $1 trillion in the latest fiscal year, surging to the highest level since 2012 as President Donald Trump cut taxes and boosted spending. The federal government’s gap increased by 26% to $984 billion in the 12 months through September, representing 4.6% of gross domestic product, the …
Microsoft Wins Pentagon’s $10 Billion JEDI Contract, Thwarting Amazon
Source: MSN Money The Department of Defense on Friday awarded a $10 billion technology contract to Microsoft over Amazon in a contest that was closely watched after President Trump ramped up his criticism of Amazon’s founder, Jeff Bezos, and said he might intervene. The 10-year contract for the Joint Enterprise Defense Infrastructure, known as JEDI, …
U.S. government’s annual budget deficit largest since 2012
Source: MSN Money The U.S. government ended fiscal year 2019 with the largest budget deficit in seven years as gains in tax receipts were offset by higher spending and growing debt service payments, the Treasury department said on Friday. It is the first time since the early 1980s that the budget gap has widened over …
US states with shocking debts bigger than some countries
Source: MSN Money State debt piles that eclipse those of entire countries While all states have some debt, an increasing number are seeing their borrowing figures grow larger than the debts of entire countries. Click through to find out which states are heavily in the red and how much they owe, according to the Census Bureau’s most recent …
Lowe’s employee morale is down after restructuring of stores
Source: MSN Money “The Hundred Days of Hell” is what Lowe’s workers call the springtime rush, when do-it-yourself customers and pros alike flood the home improvement retailer, intent on pulling out the weeds, tiling the basement, and finally building that kitchen nook. The company hires seasonal workers to pitch in. At the end of the …
PG&E stock plunges amid power cuts, bankruptcy ruling
Source: MSN Money Shares of California utility PG&E Corp. were slammed on Thursday, as the second day of power cuts left more than 1.5 million people in the northern part of the state in the dark, with a victory for bondholders in a bankruptcy ruling adding to the downdraft. The stock (PCG) was last down 29%, …
PG&E power outage could cost the California economy more than $2 billion
Source: MSN Money The economic impact of PG&E’s preventative power cuts could be upward of $2 billion, according to some estimates. The state’s largest utility company began cutting power for customers in Northern and Central California on Wednesday as a precautionary measure aimed at preventing the outbreak of wildfires. Amid peak fire season and forecasts …
Hong Kong is sinking into a recession with no recovery in sight
Source: MSN Money Hong Kong is facing its first recession since the global financial crisis, with little prospect of an immediate recovery as the city confronts its most violent protests in decades. From luxury hotels and major shopping malls to neighborhood stores and restaurants in tourist hubs like Central, Causeway Bay and Tsim Sha Tsui, …
Health Insurance Costs Surpass $20,000 Per Year, Hitting a Record
Source: Bloomberg Ever-rising premiums have pushed some to drop coverage. The cost of family health coverage in the U.S. now tops $20,000, an annual survey of employers found, a record high that has pushed an increasing number of American workers into plans that cover less or cost more, or force them out of the insurance market entirely. “It’s …