If New York or California enter a recession, the entire U.S. economy would
be next. So how are they doing?
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As two of the biggest states in the country, their economies ”may be
canaries in the coal mine,” one economist notes.
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A group of 16 of the richest people in France has signed a petition asking the French government to increase their taxes. The group includes Liliane Bettencourt, the billionaire heiress of L’Oreal; Christophe de Margerie, the head of oil giant Total; Frederic Oudea of bank Société Générale; and Jean-Cyril Spinetta, president of Air France KLM SA. (Given SocGen’s share price, Mr. Oudea may not have as much wealth to tax).