LANSING - The Michigan Public Service Commission today approved a $368 million rate increase for customers of DTE Electric Co., a reduction of more than 40% from the $622 million rate increase the company initially requested to fund its planned infrastructure investments to boost reliability and speed up deployment of clean energy generation. With today’s
NEW YORK - Moderating inflation, a cooling jobs market, and a deteriorating outlook for consumer spending mean the Fed may need to cut interest rates more than the market expects. "We have modest growth and cooling inflation and a cooling labour market — exactly what the Fed wants to see," ING's chief international economist, James Knightley,
WASHINGTON DC - Sen. John Fetterman (D-PA), one of the most vociferous cannabis supporters among U.S. senators, recently said he was honored to vote for the SAFER Banking Act. Commenting on recent Ohio’s cannabis legalization, Fetterman told City & State in an exclusive interview that “it’s absolutely absurd – how many states around Pennsylvania are we failing behind?” “It just makes
LAS VEGAS - Latrisha Matson, founder of Michigan Weedsters, has joined the Sparx & Recreation team. She is interviewed on her first reporting assignment, MjBizCon in Las Vegas, where she interviewed newsmakers, exhibitors and even cannabis chefs. Trish is well-known in the Michigan cannabis community where she created Michigan Weedsters, an advocasy group that supports
LANSING - The Michigan Public Service Commission’s Winter Energy Appraisal for 2023-2024 projects demand for electricity will decline slightly while demand for natural gas will increase, mainly because of increased use of the fuel in electricity generation. The annual report released today projects electricity demand will decline 2.7% overall, with residential demand declining 5.7% and
ANN ARBOR - The end of the UAW’s Stand-Up Strike removes a major risk confronting Michigan’s economy. There are certainly other risks on the horizon, but they are less localized, which in our assessment lowers the odds of a state-specific downturn here in Michigan, University of Michigan economists said in its semi-annual forecast. The U-M
ANN ARBOR - The U.S. economy should avoid a recession over the next two years, though economic growth is expected to be modest as consumers deal with high interest rates and, for many, dwindling saving account balances. University of Michigan economists see an increasing likelihood of an economic soft landing, noting a resilient labor market
LANSING - Michigan cannabis sales fell 4.3 percent in October to $262.9 million from $274.7 million in September. Sales peaked at $276.7 million in July. The good news is October sales were up 25.5 percent from October 2022. Looking at the statistical report, medical sales fell 70.7 percent from a year ago to $4.9 million,
WASHINGTON DC - A former Food and Drug Administration official says he’d be "shocked" if the DEA does not reschedule cannabis by next year's presidential election, and that he expects the DEA will ultimately accept the recent Health and Human Services’ recommendation to ease restrictions on cannabis by reclassifying it as a Schedule III drug under the Controlled Substances
DETROIT - In Tuesday’s election, voters in three Michigan cities — Grosse Pointe Park, Keego Harbor, and Rochester — said no to allowing marijuana retailers. In Birmingham, with 67 percent of votes counted, the marijuana proposal likewise was headed for defeat. Like the holdouts in Oak Park, who for decades stuck with the Prohibition era’s
