How Moderna Went From Pandemic Hero to Vaccine Victim
In the latest setback for Moderna MRNA 1.84%increase; green up pointing triangle, the Food and Drug Administration on Friday approved its next-generation Covid shot for a narrower population of patients than the company intended. The approval grants use of the vaccine only in older adults and people aged 12 to 64 with health risks.
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HdL Companies and Civitas Empower Local Governments to Fund Tourism, Ensure Compliance, and Revitalize Communities
BREA, Calif., August 21, 2025--(BUSINESS WIRE)--HdL Companies and Civitas, two leading firms serving local governments nationwide, are aligning their expertise to help public sector leaders build, fund, and manage vibrant, compliant, and self-sustaining communities. With over $4 billion recovered for local agencies and recognition as a GovTech 100 company, HdL Companies brings deep capabilities in revenue management, tax and fee administration, and licensing modernization. Civitas, an internationally recognized consulting law firm, has worked with more than 200 destinations across the U.S., creating legislative pathways for and developing sustainable funding solutions. While each firm operates independently, recent collaboration efforts illustrate how complementary capabilities can drive impact at the city level. "Cities, counties, and special districts need partners who can both advise and deliver," said Andy Nickerson, CEO of HdL Companies. "Our work with Civitas ensures that local leaders have access to complete, trusted solutions—from district formation to tax administration." In Santa Barbara County, local vintners recently launched the Santa Barbara Wine Preserve—a Wine Improvement District designed to elevate regional branding and promote wine tourism. After years of stakeholder engagement and consensus-building, the district was approved in early 2025 and began levying a 1% assessment on in-state wine sales to fund marketing and outreach efforts. Civitas led the legal framework and formation strategy, while HdL Companies was selected to administer the collection of fees, ensuring accurate revenue tracking and compliance. This partnership created a sustainable funding model that supports both small and large wineries and serves as a blueprint for other communities seeking to strengthen their local economies through targeted investment. This kind of behind-the-scenes alignment—where one firm supports policy and district design, and the other ensures operational compliance and financial continuity—is increasingly necessary as local governments face shrinking staff, growing mandates, and complex public-private partnerships. Both firms are also dedicated to educating public sector leaders beyond their client base. Civitas has independently published several White Papers and has partnered with other industry colleges to provide vital information to the tourism industry. Meanwhile, HdL Companies hosts ongoing consensus forecast webinars and reports, offering practical frameworks for navigating the complexities of fluctuating retail sales tax receipts and aligning stakeholders around sustainable funding. "This is about helping communities thrive," affirmed John Lambeth, Founder and CEO at Civitas. "By aligning our efforts where it makes sense, we make it easier for local agencies to pursue bold ideas with confidence." About HdL Companies HdL Companies delivers revenue management, tax and fee administration, economic development, and compliance services to over 900 local government agencies across the U.S. Recognized on the GovTech 100 list, HdL helps agencies uncover hidden revenue, streamline licensing, and improve compliance through full-service solutions. Learn more at About Civitas Civitas is a full-service firm that specializes in developing and advocating for unique tourism and travel promotion funding strategies. They provide non-profit and legal consulting services, legislative support, and help with unique funding solutions for destinations. Working with over 200 destinations worldwide, they are the leading international firm specializing in the research and implementation of tourism-related levies. Learn more at View source version on Contacts Media Contacts HdL Companies mheiselt@ 714-879-5000 Civitas Katie Thomaskthomas@ 916-437-4300 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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This is the key takeaway from fresh jobless claims data
StoneX senior adviser Jon Hilsenrath and Yahoo Finance Markets Reporter Josh Schafer join Market Catalysts with Julie Hyman to discuss what fresh jobless claims data and other economic indicators might indicate for the Federal Reserve's interest rate cut path going into the September FOMC meeting. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts. we did get jobless claims today. What does that tell us about the bigger jobs picture and maybe presage what we might hear in the next jobs report? Yeah, so you you saw a little increase in the weekly jobless claims to mid 230,000 level. That is not a level that economists would normally flag is overly concerning. And that number really hasn't been creeping higher in the past couple weeks as it had been earlier this year. But the key takeaway from actually for me was the continuing claims number, right? The amount of Americans that continue to file for unemployment benefits every single week. That hit another cycle high at its highest level since November of 2021. That is sort of one of those data points that is in the the Fed should be cutting camp. You have a lot of economists flagging that, but essentially what it's telling you is it's taking Americans longer and longer to come back into the labor market to be able to find a new job. So it's one of those small signs of weakness and perhaps some economists coming out this morning that we were tracking some some predictions that might indicate you get a 4.3% unemployment rate in that August non-farm payrolls report. That's going to come out at the end of next week or maybe the week after. I might have my dates wrong there. A week after. A week after. But it will be coming out soon, right? And sort of the key to that report obviously is if you get the week August non-farm payrolls report, probably supports a cut in September. Some economists would argue that if it's particularly weak, it might support a 50 basis point cut. That's not really where the market's at right now, but that is one of the risks that's out there. Well, but then there's the the rock and the hard place situation, right, John? Because, you know, we got the jobless claims data today, but we also got a manufacturing uh purchasing manager's index from S&P Global that was the highest in several years. So, you know, which would indicate maybe some upward pricing pressure. We heard from Walmart today, which indicated that its margins are getting squeezed a little bit because it's having to offer bargains to get people through the door. But that means it's swallowing some of the cost of tariffs. So the Fed, you know, is is is stuck between those dual mandates, perhaps. It's it's it's a tough spot. That S&P Global report you mentioned did actually show that prices paid in manufacturing are rising. You're seeing an upward trend there. You know, I think what Josh described uh very accurately is a labor market where I I would say we have labor hoarding. Companies aren't very aggressively firing workers because things could turn up. Uh but they're not all they're also not aggressively hiring workers. So you have this like uh stasis in the job market. And you know, I think for me the description of where the economy is is a a mild stagflation. So there's just been a lot of uncertainty about how tariff policy plays out, how immigration policy plays out, uh on fiscal policy. And so uh we're seeing some upwards some rebuilding of price pressures on the inflation side and the labor market isn't going very far. So the Fed is not really in a position to move very aggressively. My analogy for how uh Jay Powell is going to manage his last walk through Jackson Hole is small steps. You know, when you're going up or down in uh treacherous terrain, you take small steps and make sure you don't fall over. So he'll acknowledge this shifting uh environment. He'll keep the door open to rate cuts as long as there's no big surprise in the next round of data, but he's not going to encourage people to think that the Fed is going into a much easier mode. Related Videos Existing home sales' July upswing: What it means for housing US Jobless Claims Rise to 235,000, Continuing Claims Climb July retail sales rise 0.5%: What it means for the Fed Why Target can't keep up with Walmart's growth Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Developers ask Sterling to OK plan to create region's largest family fun center at vacant National building
Aug. 21—JCB Investments returned to the Sterling City Council on Monday with updates on its proposal to transform the former National Manufacturing basin building at 201 Locust St. into what could become northwestern Illinois' largest indoor entertainment complex. If approved, the yet-to-be-named venue would be a "one-stop shop" of year-round family-friendly entertainment, including on-site food courts, a brewery, a winery, 20,000 square feet of games including bocce ball and pickleball courts, a boutique bowling alley, virtual-reality video games, an indoor electric go-kart track and more. JCB Investments Chief Visionary Officer Colby Snyder told council members that the group has contracted with an engineering firm to conduct site measurements and feasibility studies for the 59,800 square feet of space planned for redevelopment. He said early studies gave the project a 96% probability of success, citing strong financial backing, traffic flow at the site and the absence of a similar facility within 70 miles. Since submitting its redevelopment plan two weeks ago, Snyder said JCB has worked with the Sterling Fire Department, code enforcement officials and local sprinkler technicians to assess fire safety needs. Portions of the building have an older sprinkler system from 1976, while other areas will require all-new fire protection and smoke alarm systems. He said competitive bids are being sought to bring the entire property up to code. "We have initial contractor walk-throughs already and bids underway for phase one development, which includes concrete restructuring, building stabilization, roofing, stuff like that, which are needed immediately on the building," Snyder said. "We're expecting those bids back in September." He said financing for the first round of construction has been secured, with additional funding to follow city approval. JCB also has started legal work to separate the four-story portion of the property and an adjacent parking lot from the parcel it intends to redevelop. Title searches and survey work are underway, and Snyder said attorneys will coordinate with the city on easements, including access to West Second Street and utilities. Snyder said the venue's final name has not been chosen, and that JCB is considering involving the community in naming the venue. The project's initial phase would take place over a period of 12 to 14 months and would include the construction of a 4,000-square-foot microbrewery with a 15,000-barrel capacity. Other details for the phase one opening would include a 4,000-square-foot bistro and food hall featuring six to eight kitchens or units that could be subleased to vendors or private chefs, and a 20,000-square-foot gaming space, including full-size bocce ball courts, ax-throwing pits, billiard tables, dart boards, pickleball courts, pingpong, shuffleboard, giant adult games, air hockey, foosball, indoor parking and more. Phase two would be implemented in the fall of 2027, expanding the center to include the construction of a small boutique bowling alley, mini golf, a virtual-reality zone, a lounge and an indoor electric go-kart track. JCB CFO John Moore has said the center could create 60 to 100 jobs, attract about 200,000 visitors annually and generate at least $200,000 in city tax revenue each year. For the project to move forward, JCB is asking the council for a resolution of approval, authorization to enter into a development agreement, and eventual zoning and permit approvals. Snyder said the company hopes to hold a groundbreaking in early October, with a target opening in fall 2026. Solve the daily Crossword
