UCLA fires its chief financial officer CFO Stephen Agostini after he gave a student newspaper an interview saying the campus has a $425-million deficit that he blamed in part on faculty and academic programs. The university disputes his statement, saying the deficit is substantially lower and stems from broader institutional and external factors. Faculty leaders are demanding budget transparency and accountability.
But the city only committed funding through the current 2025-2026 school year, and city leaders made it clear that this was a pilot program they would support for the first few years and then hand over to the district to build into its budget or seek outside funding. That funding cliff has arrived just as OUSD navigates a serious budget deficit and needs to trim $100 million from next year's budget.
The recommendations here alone will not solve the stability crisis in our district. But, we are happy to see validation of what we already know- that SFUSD can and must stabilize staffing and special education programs for our students,
The move is in accordance with Assembly Bill 1390, which allows for increases between $600 and $4,500 per month, based on the average daily attendance in the prior school year. Previously, the rate was $60 to $1,500 per month. Four of the five members of Antioch's board of trustees voted to increase their pay, which will impact the district's general fund $96,000 more annually.
New York City and Mayor Zohran Mamdani find themselves in deep economic water. The city is staring at a $12 billion budget hole that must be filled by June 30, a massive economic challenge for any mayor, let alone one on the job for just 22 days like Mamdani. Without question, a deficit of this size will hinder Mamdani's ability to realize much of the affordability agenda that propelled him to the highest office in New York City last year.
Enrollment in Oakland Unified School District is on the rebound, but continued gains are uncertain as the district faces large unresolved deficits. During the first regular school board meeting of the year on Wednesday, OUSD's executive director of enrollment Kilian Betlach reported increases in transitional kindergarten enrollment, enrollment gains from charter school closures, and a collapse in enrollment by newcomer students. This year, OUSD's enrollment exceeded projections by more than 500 students, which means roughly $7 million more in state funding for the district.
The list of proposed cuts would be insulting and an abuse of trust to this community, JuNelle Harris, a Livermore resident and mother to a second grade student, told the board Tuesday night. She urged the school board to first hold wider discussions with parents, calling any immediate decision completely inappropriate and one that would cause tremendous damage to students.
Hundreds rallied outside the New School during a board meeting today, December 10, to protest sweeping faculty and program cuts that many say will be devastating to the century-old institution's progressive social research mission. At 4 pm today,around 300students, staff, and supporters gathered outside 66 West 12th Street, which houses the offices of President Joel Towers and Provost Richard Kessler. "Short on money, high on power, we don't trust Joel Towers," New School students and faculty chanted underneath the university building's scaffolding.
France's National Assembly is set to vote on a major social security budget bill, in a critical test for the embattled Prime Minister Sebastien Lecornu, who has pledged to deliver the country's 2026 budget before the end of the year. Debate on the legislation began on Tuesday afternoon. Lecornu governs without a majority in parliament, and has sought support from the Socialist Party by offering concessions, including suspending President Emmanuel Macron's controversial pension reform.
Fall student enrollment across California State University grew for the second year in a row while international student enrollment dropped, according to newly released university data. Data released Monday revealed a 2% increase in the number of students enrolled at California State University for the fall 2025 semester, with 471,451 total students up from 461,612 students last year. The second year of increased enrollment follows two years of post-pandemic declines.
Finance Minister Peter Bethlenfalvy says the fiscal update will be a plan to make the province's economy competitive and protect jobs. The economic statement serves as a mini budget and often contains funding and updates on economic growth. In another recent financial update, the 2025-26 first quarter finances, the government projected a $14.6-billion deficit this year. A report last month by Ontario's financial accountability officer
Years after Putin ordered the full-scale invasion of Ukraine, Russia's financial system is showing signs of vulnerability. Three and a half years of war against Ukraine have weakened Russia's cash reserves, indicators show, possibly signalling that its economic resilience is beginning to fray. Russia experts have told Al Jazeera that the country of 143 million people is now almost wholly dependent on export revenue from oil and gas for its cashflow, and a major round of new sanctions could bring it to the negotiating table.
"We've already lived through the painful impact of past closures, consolidations and modernizations, disruptions that left deep scars on our families, students and staff," she said. "Please, do not reassign our students again. Do not implement these boundary changes."
Rachel Reeves is poised to unveil a package of planning reforms and tax increases in her first full Budget on 26 November, as the Chancellor faces the daunting task of closing a £30 billion shortfall in the public finances. The Treasury is said to be exploring a range of measures to stimulate growth while raising revenue, including restoring the bank surcharge to 8 per cent-a move expected to generate around £2 billion annually.
"National debt" is a term thrown around quite frequently during political discussions. This often-staggering figure is the amount of money a country owes its creditors. But what or who constitutes as a creditor to a major nation? These can include institutions both overseas and at home, as well as other foreign countries. Though any sort of debt is generally painted in a negative light, national debt is normal and often goes along with a healthy economy; it can even help stimulate growth.
The US Treasury's gold reserves have surpassed $1 trillion in value - more than 90 times what's stated on the government's balance sheet - as the precious metal breaks new all-time highs. The world's biggest gold stash passed the milestone after prices rose above $3,824.50 an ounce on Monday, in a 45% rally this year. Its official value, however, based on the $42.22-an-ounce price set by Congress in 1973, is fixed at just over $11 billion.
Ontario's economy is going to continue to slow this year as U.S. tariffs reduce demands for exports and businesses cut back on investments and hiring, a new report estimates. The province's real GDP growth is projected to slow to 0.9 per cent this year and 1.0 per cent next year due to the impact of U.S. tariffs, says the report from the Financial Accountability Office of Ontario (FAO), released Wednesday.
PM Bayrou is expected to lose, but a deadlock in parliament means France might struggle to find a replacement who can pass a budget aimed at cutting the deficit. The French government looks set to collapse in a vote of no confidence and tip the eurozone's second biggest economy into a political crisis. Prime Minister Francois Bayrou is expected to be ousted, casting doubt over President Emmanuel Macron's future. Monday's vote hinges on Bayrou's unpopular budget proposal for 2026, designed to slash France's fiscal deficit.
