Business News

AM Business Notebook

>>WH Urges Congress To Raise Debt Limit

(Washington, DC)  --  The White House is urging Congress to swiftly raise the debt limit.  Press Secretary Karine Jean-Pierre said lawmakers must soon deal with the debt limit without conditions.  She said Republicans poised to use the debt ceiling to force budget cuts to Social Security, Medicare, and Medicaid are threatening the global economy.  The U.S. is expected to hit the borrowing limit on Thursday.  After that, the Treasury Department will use "extraordinary measures" to keep paying bills and avoid a default.


>>IMF Chief Believes Growth Will Slow Down This Year

(Davos)  --  Economic growth is likely to slow down this year.  That's according to the chief of the International Monetary Fund who spoke to CNBC at the World Economic Forum in Davos, Switzerland.  Kristalina Georgieva [[ chris-tuh-lee-nuh ghee-or-gay-vuh ]] said growth will fall by half a percentage point compared to last year.  She added growth will "bottom out this year" and the world economy will rebound next year.  When it comes to cutting interest rates, she said that may not be the best idea as the battle against inflation goes on.  Central banks like the Federal Reserve continually raised rates last year and she said they "have to be careful not to pull their foot from the brake too early."


>>San Francisco Panel Recommends $5 Million Reparations for Each Black Resident

(San Francisco, CA)  --  A San Francisco task force on reparations is recommending the city make a one-time payment of five million dollars to each eligible Black resident.  The San Francisco African American Reparations Advisory Committee said the lump sum would compensate for "decades of harm experienced as a result of both intentional decisions and unintended harms perpetuated by City policy."  The proposed redress could cost San Francisco 50 billion dollars. The City's total 2023 budget is 14 billion dollars. 


>>Saks Fifth Avenue Makes Bid To Open NYC Casino

(New York, NY)  --  Saks Fifth Avenue, an iconic New York City Department store, is making a bid to open a casino.  Saks has traditionally billed itself as the premier destination for luxury fashion but now it's hoping to gamble on a casino, too, vying to secure one of three licenses approved for New York City.  Its flagship Manhattan store would still sell Chanel and Prada but its three upper floors would offer a luxury gambling experience with a separate entrance and table games played under crystal chandeliers.  Other casino proposals involve Times Square, the area around Citi Field and Hudson Yards. 


On Air Now

Mark Levin
Mark Levin
3:00pm - 6:00pm
Mark Levin



News Disclaimers