South Carolina ranks high in in-migration
South Carolina placed fifth among states for in-migration in 2012, accounting for 55 percent of the moves in the state, according to the United Van Lines latest annual study. Outbound moves accounted for just 45 percent of the moving activity performed in the state by United, the nations largest mover, the study said. North Carolina was fourth in the study for in-migration, led by Nevada, Oregon, and the District of Columbia at the top. The Northeast, led by New Jersey, posted the largest migration at 62 percent of moves.
Credit rating agencies urge U.S. to shrink deficit
WASHINGTON The nations two largest credit rating agencies urged Congress on Wednesday to go beyond its deal and come up with a plan to shrink the budget deficit. Moodys Investors Services said in a statement that it expects lawmakers in the coming months will take additional steps needed to lower the deficit, which has topped $1 trillion annually in each of the past four years. But if it fails to do so, the governments Aaa credit rating could be at risk. Moodys had warned in September that it would likely cut its rating by one notch if the year-end budget negotiations failed. Moodys has a negative outlook on the governments debt, a warning of a possible downgrade. In a separate statement, Standard & Poors warned that the budget agreement did little to put the governments finances on a more sustainable footing. S&P said it would not change its rating based on the deal. In August 2011, the credit rater stunned investors by lowering its rating on long-term U.S. government debt to AA+ and assigned a negative outlook to the rating. That followed a contentious battle to raise the governments borrowing limit. On Wednesday, S&P offered a harsh reminder of why it stripped the U.S. of its top rating, along with a warning about the current negotiations.
The rich get richer
NEW YORK The richest people on the planet got even richer in 2012, adding $241 billion to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the worlds 100 wealthiest individuals. The aggregate net worth of the worlds top moguls stood at $1.9 trillion at the market close on Dec. 31, according to the index. Retail and telecommunications fortunes surged about 20 percent on average during the year. Of the 100 people who appeared on the final ranking of 2012, only 16 registered a net loss for the 12-month period. Amancio Ortega, the Spaniard who founded retailer Inditex SA, was the years biggest gainer. The 76-year-old tycoons fortune increased $22.2 billion to $57.5 billion, according to the index, as shares of Inditex, operator of the Zara clothing chain, rose 66.7 percent. Carlos Slim, the telecommunications magnate who controls Mexicos America Movil SAB, maintained his title as the richest person on Earth for the entire year. The 72-year-olds net worth rose $13.4 billion or 21.6 percent through Dec. 31, making him the second-biggest gainer by dollars.
Roddie Burris, Bloomberg News and The Associated Press contributed.