Tag:

Economic growth

Major Household Product Maker With MA Plants Cutting 7,000 Jobs As Trump Tariffs Roil Economy Major Household Product Maker With MA Plants Cutting 7,000 Jobs As Trump Tariffs Roil Economy
Major Household Product Maker With MA Plants Cutting 7,000 Jobs As Trump Tariffs Roil Economy Procter & Gamble, which operates eight plants across the Northeast, plans to cut up to 7,000 jobs over the next two years as President Donald Trump's trade policies shake businesses and consumer confidence, according to reports. Andre Schulten, P&G's chief financial officer, announced the layoffs during the Deutsche Bank Consumer Conference in Paris on Thursday, June 5. The cuts amount to about 6% of the company's global workforce and roughly 15% of its non-manufacturing positions, the Associated Press reported. P&G had about 108,000 employees worldwide as of June…
XL Center Gets New Name As CT's Largest Arena Undergoes $145M Renovation XL Center Gets New Name As CT's Largest Arena Undergoes $145M Renovation
XL Center Gets New Name As CT's Largest Arena Undergoes $145M Renovation The second home of the UConn Huskies' champion basketball teams has a new name to match its refreshed look. The XL Center has officially been renamed as PeoplesBank Arena. The rebranding was announced by Gov. Ned Lamont, Oak View Group, and the Capital Region Development Authority at a news conference on Monday, June 2. The naming rights had been held since 2007 by Axa XL, a global insurance company headquartered in Stamford. Before that, the 16,000-seat arena was called the Hartford Civic Center since it opened in 1975 and some people still refer to the building by that name. PeoplesBank…
Retail Sales Stall In April Amid Trump's Tariffs And Slowing Demand, New Data Says Retail Sales Stall In April Amid Trump's Tariffs And Slowing Demand, New Data Says
Retail Sales Stall In April Amid Trump's Tariffs And Slowing Demand, New Data Says April's retail sales flatlined as Americans pulled back on spending, the latest sign that trade tensions under President Donald Trump's tariffs are taking a toll on the US economy. Total retail and food service sales rose just 0.1% in April, compared to March's 1.7% surge, the U.S. Census Bureau said on Thursday, May 15. April's monthly gain was within the margin of error (+/- 0.5%), suggesting no meaningful growth. From February to April, total sales rose 4.8% compared to the same period in 2024. The healthy gains appear to be slowing down after consumers rushed in February and March …
Netflix Breaks Ground On $1B Studio At Fort Monmouth Netflix Breaks Ground On $1B Studio At Fort Monmouth
Netflix Breaks Ground On $1B Studio At Fort Monmouth Netflix officially broke ground Tuesday on a $1 billion production studio in Fort Monmouth, launching what state officials say will become a premier East Coast hub for film and TV. The massive 292-acre site, once home to a U.S. Army base, will be transformed into 12 state-of-the-art soundstages spanning nearly 500,000 square feet, plus support buildings and community-focused spaces, according to the Office of Governor Phil Murphy. “Netflix is proud to invest in American innovation and the creative community,” said Ted Sarandos, co-CEO of Netflix. “We estimate that these studios will create …
Job Growth Beats Forecasts Despite Stalling Labor Market, Shrinking GDP Under Trump Job Growth Beats Forecasts Despite Stalling Labor Market, Shrinking GDP Under Trump
Job Growth Beats Forecasts Despite Stalling Labor Market, Shrinking GDP Under Trump Job growth moderately beat expectations in April, but was slightly down from the month before, as recession worries loom due to President Donald Trump's trade agenda. The US economy added 177,000 jobs in April, according to Bureau of Labor Statistics data released on Friday, May 2. The national unemployment rate held steady at 4.2%, despite initial unemployment claims jumping to 241,000 for the week ending Monday, April 26. The job gains were higher than the 133,000 forecasted by the Dow Jones, CNBC reported. April's numbers declined from March's total of 185,000, which …
No New Land Rovers Or Jaguars Coming To US Amid Trump’s Tariff Plan No New Land Rovers Or Jaguars Coming To US Amid Trump’s Tariff Plan
No New Land Rovers Or Jaguars Coming To US Amid Trump’s Tariff Plan There will be no new Land Rover or Jaguar vehicles heading to the US, as the automaker has announced a pause in shipments amid recently imposed tariffs by the president. Britain-based Jaguar Land Rover Automotive said over the weekend that later this month, the company will temporarily cease shipping vehicles to the US as it considers the consequences of the tariffs moving forward. “The USA is an important market for JLR’s luxury brands,” the company said in a statement to NPR. “As we work to address the new trading terms with our business partners, we are taking some short-term actions in…
Gov. Glenn Youngkin Tapped To Deliver Liberty University Commencement Address Gov. Glenn Youngkin Tapped To Deliver Liberty University Commencement Address
Gov. Glenn Youngkin Tapped To Deliver Liberty University Commencement Address The governor is heading back to Lynchburg — and this time, he’s got the mic. Virginia Gov. Glenn Youngkin will deliver the keynote address at Liberty University’s 52nd Commencement ceremony on Friday, May 9, the school announced this week. “The opportunity to address Liberty University’s Class of 2025 is a tremendous honor,” Youngkin said in a statement. “Liberty’s commitment to academic excellence and steadfast faith equips its graduates to lead with conviction and purpose. "I look forward to celebrating this momentous occasion with the graduates, their families, and the entire Liberty co…
Gaithersburg Is The Most Diverse City In US, New Study Says: Here's Why Gaithersburg Is The Most Diverse City In US, New Study Says: Here's Why
Gaithersburg Is The Most Diverse City In US, New Study Says: Here's Why The US population is rapidly diversifying, with cities in the Northeast and mid-Atlantic at the forefront, according to a new study. WalletHub released its 2025 ranking of the nation's Most Diverse Cities on Wednesday, Feb. 26. Three Maryland communities topped the list of 501 locations, which were evaluated based on socioeconomic, cultural, economic, household, and religious diversity. According to the U.S. Census Bureau, 10.2 percent of Americans identified as multiracial in 2020, a sharp increase from just 2.9 percent in 2010. "The most diverse cities demonstrate diversity in many …
From Planes To Trains: MacArthur Airport Will Link To LIRR Ahead Of Proposed Amtrak Expansion From Planes To Trains: MacArthur Airport Will Link To LIRR Ahead Of Proposed Amtrak Expansion
From Planes To Trains: MacArthur Airport Will Link To Lirr Ahead Of Proposed Amtrak Expansion Long Island is on the brink of a transportation revolution. State transportation officials are investing $150 million for a pedestrian walkway connecting the proposed North Terminal at MacArthur Airport to the Long Island Rail Road (LIRR) station in Ronkonkoma, Gov. Kathy Hochul said. The ambitious project, announced Wednesday, Feb. 12, will also include redesigned road networks and infrastructure upgrades aimed at enhancing accessibility and fueling economic growth, Hochul’s office said. “Long Islanders deserve modern, efficient transit systems that make their daily lives easier and fuel …
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies
Inflation Climbs To Start 2025, Fueled By Dramatic Egg Price Jump, Fears Over Trump Policies Inflation unexpectedly accelerated in the first month of 2025, adding political and economic pressure to President Donald Trump's campaign promise of immediate relief to high consumer prices. In January, overall inflation climbed 3.3 percent year-over-year for core items and 0.5 percent monthly, according to data from the Bureau of Labor Statistics released on Wednesday, Feb. 12. That ran slightly ahead of economists' prediction of 3.2 percent inflation, NBC News reported. Core items exclude notably volatile prices for food and energy. The Consumer Price Index (CPI) still inc…
4 Historic Hartford Homes Moving To Make Way For Parking Garage 4 Historic Hartford Homes Moving To Make Way For Parking Garage
4 Historic Hartford Homes Moving To Make Way For Parking Garage If you think you are seeing things when four historic homes roll by you on a Connecticut roadway, don't worry. They are being moved to make room for a new 9-story parking garage. The move will occur in Hartford on Thursday, Aug. 29, causing traffic to be a mess in certain parts of town. Monica Buchanan of Connecticut Children's, one of the groups building the garage, said the four historic homes from Lincoln Street will be relocated to new locations within Hartford to make way for a new 9-story, $60M parking garage. The garage will serve Connecticut Children’s patient families, team m…
Taxes, Zoning, Transportation Top Issues For Incumbent State Sen. Ryan Fazio Taxes, Zoning, Transportation Top Issues For Incumbent State Sen. Ryan Fazio
Taxes, Zoning, Transportation Top Issues For Incumbent State Sen. Ryan Fazio Born and raised in Greenwich, District 36 (Greenwich, North Stamford, and portions of Stamford, New Canaan, and Newfield-Westover-Turn of River) State Sen. Ryan Fazio still calls the town home.  First elected to the Greenwich Representative Town Meeting, the investment advisor has also spent years volunteering for Greenwich United Way and Meals on Wheels. In 2021, Fazio first came to the senate after winning a special election upon the sudden resignation of Sen. Alex Kasser (D). In 2022, by a very slight margin, he beat his democratic opponent to retain his senate seat in the general e…
Watch As Gov. Wes Moore Pardons 175K Marijuana Convictions Watch As Gov. Wes Moore Pardons 175K Marijuana Convictions
Watch As Gov. Wes Moore Pardons 175K Marijuana Convictions Maryland Gov. Wes Moore on Monday, June 17 will be signing an executive order pardoning 175,000 convictions relating to cannabis or other misdemeanor drug paraphernalia charges. The governor's office will be making the pardons in a live stream on X. This morning, I sign an executive order pardoning 175,000 convictions related to the possession of cannabis and certain convictions for misdemeanor possession of drug paraphernalia. https://t.co/GWQhepn6DZ — Governor Wes Moore (@GovWesMoore) June 17, 2024 In an interview with the Washington Post, the Democratic governor said he was "ecstati…
New Barnes & Noble Coming To Mount Kisco: Here's Where New Barnes & Noble Coming To Mount Kisco: Here's Where
New Barnes & Noble Coming To Mount Kisco: Here's Where Iconic bookstore chain Barnes & Noble will soon open a new location in Northern Westchester. The mega-bookseller has signed a lease to open a new store in the former Walgreens space at 55 South Moger Ave. in Mount Kisco, according to Beth Vetare Civitello, Co-Executive Director of the Mount Kisco Chamber of Commerce.  The 13,700-square-foot store will take the space as of Friday, Aug. 2, Vetare Civitello added.  In a statement, the Chamber of Commerce said the store's arrival would help Mount Kisco become a "hub of Northern Westchester."  "Our belief…
Officials In Westchester Call For Direct Access To Penn Station Via Hudson Line Officials In Westchester Call For Direct Access To Penn Station Via Hudson Line
Officials In Westchester Call For Direct Access To Penn Station Via Hudson Line Officials in the Hudson Valley are calling on the MTA to undertake a study on the feasibility of providing direct access to Penn Station from the Hudson Line.  In a letter addressed to MTA Chief Executive Officer Janno Lieber, Westchester County Executive George Latimer called on the transportation agency to conduct a study on having direct one-seat access to Manhattan's Penn Station from the Hudson Line, Latimer announced on Wednesday, Jan. 17.  "The advantages of such a connection are abundant," Latimer wrote in the latter, adding, "Improved transportation links would …
Thruway Would Get New Exit Under Proposal From County Legislator To Improve ‘Quality Of Life' Thruway Would Get New Exit Under Proposal From County Legislator To Improve ‘Quality Of Life'
Thruway Would Get New Exit Under Proposal From County Legislator To Improve ‘Quality Of Life' Drivers could soon see a new exit on the New York State Thruway. Albany County Legislator Zach Collins is asking Gov. Kathy Hochul to approve construction of a new exit on I-87 in the town of Coeymans. In a letter sent to Hochul’s office Thursday, Dec. 14, Collins said increased industrial traffic regularly clogs State Routes 143 and 144, “causing significant quality of life issues for residents in Coeymans and Ravena.” Because of the town’s location, large commercial vehicles must use the state routes to reach Thruway exits 22 to the north and 21B to the south. “The large amount of truck…
College Of Saint Rose Shutting Down After 103 Years College Of Saint Rose Shutting Down After 103 Years
College Of Saint Rose Shutting Down After 103 Years After more than a century in operations, Albany’s College of Saint Rose is permanently closing amid mounting financial struggles. The school’s board of trustees voted Thursday, Nov. 30, to shut down the college at the end of the Spring 2024 semester. “It is with a heavy heart that the Board decided to close the college at the end of this academic year,” Board Chair Jeffrey Stone said.  "The Board determined that the College does not have the financial resources to operate for the full 2024-2025 academic year and therefore cannot remain a standalone institution.” It comes after years …
Ground Level Beach Club Among Highlights Of Luxury Athletic Club Coming To Jersey Shore Ground Level Beach Club Among Highlights Of Luxury Athletic Club Coming To Jersey Shore
Ground Level Beach Club Among Highlights Of Luxury Athletic Club Coming To Jersey Shore A massive athletic club complete with a ground-level, resort-like beach club is under construction in Monmouth County. The Life Time facility in Middletown, its eighth in New Jersey, is expected to be complete in 2024. Click here to get on the wait list. Once finished, Life Time Middletown – Red Bank will provide a highly personalized, luxury approach to health and wellness with modern architecture, beautiful spaces and an abundance of amenities.  Highlights include: Three-floor building with an additional 50,000-square-foot, ground level outdoor beach club and bistro with leis…
$15 Million Bridge Replacement Projects Complete In Hudson Valley $15 Million Bridge Replacement Projects Complete In Hudson Valley
$15 Million Bridge Replacement Projects Complete In Hudson Valley State officials announced the completion of bridge replacement projects that cost a total of about $15 million in the Hudson Valley. Gov. Kathy Hochul announced the completion of the projects to replace the US Route 6 Bridge in Putnam County and the State Route 209 Bridge in Ulster County on Tuesday, June 28. Hochul said the $10.9 million project in Brewster to replace the US Route 6 Bridge over Metro-North Railroad's Harlem River Line creates a direct intersection with Michael Neuner Drive, fulfilling a goal to improve downtown access to Brewster's western neighborhoods.  The $4…
Town Supervisor In Northern Westchester To Run For State Assembly Town Supervisor In Northern Westchester To Run For State Assembly
Town Supervisor In Northern Westchester To Run For State Assembly A popular Republican lawmaker in Northern Westchester announced that he will be stepping away from his current position at the end of the year as he seeks a state Assembly seat. Yorktown Supervisor Matt Slater, age 36, who was re-elected for a second term in an uncontested election in November, says he will challenge for the seat currently held by Republican Kevin Byrne in the 94th State Assembly District this year. The 94th District includes parts of Northern Westchester and most of Putnam County.  It is currently occupied by Byrne, who earned the GOP nomination to run for longtime P…
Rockland County Executive Ed Day Announces Staffing Changes Rockland County Executive Ed Day Announces Staffing Changes
Rockland County Executive Ed Day Announces Staffing Changes Rockland County Executive Ed Day has announced a series of staffing changes that will take effect this week. Day said beginning Monday, Feb. 28, Chief of Staff Mike Hoblin will replace Deputy County Executive Guillermo Rosa, who retired on Friday, Feb. 25. "Guillermo Rosa has been by my side since I first took office in 2014 and moved mountains in service to Rockland residents," Day said in a statement. "Guillermo is directly responsible for many of the transformational initiatives we have implemented within county government over the last eight years and has led the charge of mod…
Here's How Much, When Minimum Wage Will Increase In CT Here's How Much, When Minimum Wage Will Increase In CT
Here's How Much, When Minimum Wage Will Increase In CT While some neighboring states will see a rise in their minimum wage to begin the new year, Connecticut employees will have to wait a few months as it works toward Gov. Ned Lamont’s goal of $15 hourly by 2023. New York and Massachusetts both will see their minimum wage rise as of Jan. 1, 2022, but Connecticut employees will have to wait until July to see their pay hike reflected on their paychecks. On July 1, 2022, minimum wage in Connecticut will be going up a dollar, from $13 to $14 hourly, the fourth straight year that the state saw an increase as it looks to get to $15 hourly by June 202…
Connecticut's Minimum Wage To Take Effect In Days Connecticut's Minimum Wage To Take Effect In Days
Connecticut's Minimum Wage To Take Effect In Days Connecticut's minimum wage is set to increase to $13 soon, as the state progresses toward a $15 minimum wage.  Beginning Sunday, Aug. 1, the minimum wage will increase from $12 per hour to $13 per hour.  The legislation was signed into law by Gov. Ned Lamont in 2019, requiring scheduled increases over a five-year period until the minimum wage will ultimately increase to $15 on June 1 of 2023. “Nobody working a full-time job should live in poverty,” Lamont said. “For too long, while the nation’s economy grew, the income of the lowest-earning workers has stayed flat, making already…
$10,000 To Move To WesternMass? 8 US Places That Will Pay You To Relocate $10,000 To Move To WesternMass? 8 US Places That Will Pay You To Relocate
$10,000 To Move To WesternMass? 8 US Places That Will Pay You To Relocate How much would Massachusetts have to pay you to move to Western Massachusetts? It’s a question being asked on Beacon Hill now as area politicians push for legislation that would provide a stipend to people who move to the more rural part of the state. State Rep. Eric Lesser (D-Longmeadow) has proposed a bill that would pay people up to $10,000 to move to Western Massachusetts. The money is meant to cover relocation expenses. First proposed in 2019, the bill has seen new attention this fall as talk of a proposed east-west commuter train has heated up. Western Massachusetts is not the f…
Time Is Money: Here's How Much Traffic Congestion Costs NYC Commuters Time Is Money: Here's How Much Traffic Congestion Costs NYC Commuters
Time Is Money: Here's How Much Traffic Congestion Costs NYC Commuters The daily congestion that commuters deal with each day is costing New York City billions of dollars, according to a new study. INRIX, Inc. a transportation analytics service published it’s latest Global Traffic Scorecard that identified and ranked congestion and mobility trends in more than 900 cities, across 43 countries. That study found that New York City commuters ranked fourth overall - down from second last year - nationwide in losing an average of 140 hours in congestion. The cost each driver incurs while being stuck in traffic is an average of $2,072 annually, and the total cost to …
$12 Minimum Wage Starts Today, Sept. 1; More Increases Planned $12 Minimum Wage Starts Today, Sept. 1; More Increases Planned
$12 Minimum Wage Starts Today, Sept. 1; More Increases Planned Today is the first day of a $12 per hour minimum wage in Connecticut. Just yesterday, the minimum wage in Connecticut was $11 per hour. The hike is part of a law passed last year to raise the minimum wage over the next several years. “Nobody working a full-time job should live in poverty,” said Governor Ned Lamont. “For too long, while the nation’s economy grew the income of the lowest-earning workers has stayed flat.” The minimum wage law - “Public Act 19-4” - was passed in May 2019. There are three more increases planned: - $13 per hour starting Aug. 1, 2021 - $14 per hour starting …
Effort To Overhaul Kingsland Ave. Bridge In Nutley Gets A Boost Effort To Overhaul Kingsland Ave. Bridge In Nutley Gets A Boost
Effort To Overhaul Kingsland Ave. Bridge In Nutley Gets A Boost The Army Corps of Engineers has issued a permit that will allow officials to seek final approval for a plan to repair or replace entirely the 114-year-old Kingsland Avenue bridge connecting Nutley and Lyndhurst, the office of Rep. Bill Pascrell (D-9) said Friday. A project must now be approved by the U.S. Coast Guard.  “A decaying two-lane road beset by traffic bottlenecks and drawbridge jams is no longer acceptable for the 21,000 vehicles crossing this bridge every day to go to work, take kids to the doctor, and run to the market,” Pascrell said in a statement Our federal, state, cou…
$119M Project To Reconstruct Section Of Major Deegan Expressway Starts $119M Project To Reconstruct Section Of Major Deegan Expressway Starts
$119M Project To Reconstruct Section Of Major Deegan Expressway Starts A $119 million project to reconstruct a stretch of the Major Deegan Expressway in the Bronx has kicked off. The New York State Department of Transportation announced that construction has begun on the project in both directions of the expressway between West 161st Street and the Alexander Hamilton Bridge. According to the NYSDOT, the project “which includes the addition of a northbound auxiliary lane and the replacement of the northbound and southbound viaducts with new roadways built on earth fill,” will improve traffic flow and enhance safety along this major artery in the Bronx, ensuring…
CT Senate OKs $43 Billion State Budget Lamont Hails As 'Fair, Balanced,' But GOP Senator Slams CT Senate OKs $43 Billion State Budget Lamont Hails As 'Fair, Balanced,' But GOP Senator Slams
CT Senate OKs $43 Billion State Budget Lamont Hails As 'Fair, Balanced,' But GOP Senator Slams As promised by Gov. Ned Lamont, Connecticut's $43 billion budget is on time and balanced.  That wasn't enough good news for 14 Senate Republicans and two Democrats who voted against it on Tuesday night, June 4. By a 20-16 vote, the Senate passed a two-year budget that Republicans complained is full of new taxes and shifts billions of dollars in pension debt onto the next generation of taxpayers. The budget erases a $3 billion deficit that Lamont inherited when he became governor in January. Lamont got the support of legislators in making new investments in health care and boostin…
Con Ed Deal May End Natural Gas Moratorium In Westchester Con Ed Deal May End Natural Gas Moratorium In Westchester
Con Ed Deal May End Natural Gas Moratorium In Westchester Con Edison has reached an agreement with an out-of-state natural gas pipeline that will pave the way to ending the gas moratorium in Westchester that took effect last month. The utility company announced that it has made a deal with the owners of Tennessee Gas Pipeline, which will provide increased natural gas capacity to Con Edison’s distribution system in Westchester, though the moratorium won’t be lifted until November 2023. Under the agreement, Tennessee Gas Pipeline would provide the increased natural gas capacity to Con Edison’s distribution system in Westchester by upgrading compres…
Westchester Municipality Makes Elite Eight In 'Strongest Towns In America' Westchester Municipality Makes Elite Eight In 'Strongest Towns In America'
Westchester Municipality Makes Elite Eight In 'Strongest Towns In America' Iona College may have fallen to the University of North Carolina in the NCAA Tournament opening road, but New Rochelle has made it into the Elite Eight round of a competition naming the “Strongest Town in America.” After taking down Sheboygan, Wisconsin to earn their spot in the second round, New Rochelle is now matched up against Portsmouth, N.H. for a seat in the Final Four of the competition, which is being hosted by the national nonprofit Strong Towns. According to officials, the “Strongest Town contest is a month-long, bracket-based competition designed to spotlight communities from ar…