David Lidsky's Blog, page 285

MacKenzie Scott donates another $2 billion in 2024

The total Scott has given away since 2019 is $19.2 billion.

Billionaire author and philanthropist MacKenzie Scott acknowledged another $2 billion in donations in a blog post on Wednesday, bringing the total she’s given away since 2019 to $19.2 billion.

Africa’s financial mosaic: An advantage in the digital age

What to do with multiple currencies and an unbanked population? Fintech can be the glue.

Africa’s economic landscape is often described as fragmented. Its 40+ currencies, eight regional economic communities, and two currency unions are seen as obstacles to growth. In some quarters, they are also seen as the root cause of regulatory barriers and logistical complexity that hampers cross-border trade and inbound investment. 

Georgia to let farmers drill new irrigation wells starting next year

For more than a decade, farmers in parts of southwest Georgia haven’t been able to drill new irrigation wells to the Floridian aquifer, the groundwater nearest the surface.

Jason Cox, who grows peanuts and cotton in southwest Georgia, says farming would be economically impossible without water to irrigate his crops.

Will Musk and Trump cause a government shutdown in December? Republicans urged to reject Congress spending bill

Lawmakers are in a showdown that could lead to a shutdown as President-elect Trump is calling for his party to push back on some Democratic priorities.

Don’t look now, but the federal government is again facing a potential shutdown. If it feels like you’ve seen that headline before, you’re not crazy—there’s been a series of near-shutdowns over the past several years, with the last full shutdown occurring during the first Trump administration, lasting between December 22, 2018, and January 25, 2019.

These 5 clever mapping upstarts do what Google Maps can’t

If you’re limiting your location exploration only to Google Maps—or Apple Maps, for that matter—you’re missing out on some incredible options.

Look, Google Maps is fine. It’s arguably even great—probably one of the most-opened apps on lots of our phones and absolutely one of the most indispensable.

Tax-loss selling may be a good strategy this year. Here’s where to look

As 2024 winds down, here are some of the most fruitful spots to look for tax-loss candidates.

The U.S. market gained more than 25% for the year to date through mid-December 2024. That’s a healthy showing by any measure. It doesn’t seem like it would be a market environment that’s conducive to tax-loss selling.

EPA allows California to ban sales of new gas cars by 2035

The California rule is stricter than a federal rule adopted this year that tightens emissions standards but does not require sales of electric vehicles.

The Environmental Protection Agency (EPA) on Wednesday granted two requests from California to enforce strict standards for vehicle emissions, including a rule aimed at banning sales of new gasoline-powered cars in the state by 2035. The incoming Trump administration is likely to try to reverse the action.

‘We have to surrender’: Indonesia’s mining boom is hurting its communities

Where fishers could once catch fish to sell or feed their families, the water is now filled with runoff sediment from mining activities, and no fish are to be found.

The crystal blue waters that once surrounded Kabaena are murky brown now, and the octopi and colorful fish that locals used to catch nearby to eat and sell have fled. The lush seaweed they used to harvest is gone. And parents who grew up swimming happily in the Flores Sea now warn their children to stay out of the water for fear of itchy rashes or skin lesions.

Elizabeth Warren’s second attempt at bankruptcy reform seeks balanced relief

By cutting filing costs, closing exploitative loopholes, and treating student loan debt like any other debt, the bill promises a more just system.

On Wednesday, Senator Elizabeth Warren reintroduced legislation that would make filing for bankruptcy easier and more affordable for individuals who are struggling financially.

Fed cut interest rates by a quarter point and expects fewer reductions in 2025

The Fed’s 19 policymakers projected that they will cut their benchmark rate by a quarter-point just twice in 2025, down from their previous estimate in September of four rate cuts.

The Federal Reserve cut its key interest rate Wednesday by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year than it previously envisioned, largely because of still-elevated inflation.