Tag: Bloomberg

Ohio Governor DeWine Aims to Double Sports Betting Tax Rate in Proposed Budget

Hannah Poling

Ohio Governor Mike DeWine is attempting to double the tax rate from 10 percent to 20 percent just over a month after sports betting became legal in the state. This increase is part of his biennial executive budget plan for the 2024–2025 fiscal years.

The budget doubles the tax on sports wagering that casinos and teams operating mobile sportsbooks must pay. A Bloomberg Tax analysis shows that the tax is just a little bit higher than the average 19 percent levied by other states.

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Goldman Sachs Issues Stock Market Warning

Admin

U.S. investors are significantly underestimating the risk of a recession, potentially increasing the impact of a recession next year, economists at Goldman Sachs warned in a Monday research note, according to Bloomberg.

Researchers at Goldman estimate a 39 percent chance of a slowdown in U.S. growth, but risk assets only account for an 11 percent chance, Bloomberg reported. By underestimating the chance of a recession, investors are increasing their exposure to the effects of “recession scares” in 2023, the analysts warned.

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Jobless Claims Fall to Lowest Level in over 50 Years

Ohio Star Staff

The number of Americans who filed new unemployment claims decreased to 187,000 in the week ending March 19, the lowest level in over 50 years, the Department of Labor announced Thursday.

The Labor Department’s figure showed a decrease of 28,000 compared to the week ending March 12, when new claims numbered 215,000, according to data from the U.S. Bureau of Labor Statistics (BLS). This week’s claims were well below the predictions of economists surveyed by Bloomberg, who estimated that new claims would total 210,000.

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