NJ retains nation’s highest corporate tax rate while 4 states slash levies
New Jersey continues to have the highest top marginal corporate tax rate in the nation at 11.5%, according to The Tax Foundation’s annual state comparison released Tuesday. The rate is nearly five percentage points above the national average of 6.57%. Meanwhile, Georgia, Nebraska, North Carolina and Pennsylvania cut corporate tax rates on Jan. 1, with North Carolina now posting the nation’s lowest flat rate at 2%. (BINJE)
New Jersey loses 5,300 jobs as unemployment rate rises to 5.4%
New Jersey shed a net 5,300 jobs in October and November, according to delayed U.S. Bureau of Labor Statistics data released after the federal shutdown. Nonfarm employment fell by 1,700 jobs in November to 4.396 million, following a 3,600-job loss in October. The state’s unemployment rate rose to 5.4% in November, its highest level since December 2021, exceeding the national rate of 4.6%. (ROI-NJ)
US job openings slide to second lowest level, as hiring remains sluggish
U.S. employers posted far fewer jobs in November than the previous month, a sign that employers aren’t yet ramping up hiring even as growth has picked up. Businesses and government agencies posted 7.1 million open jobs at the end of November, the Labor Department said Wednesday, down from 7.4 million in October. Layoffs also dropped, however, as companies appear to be holding onto workers even as they are reluctant to add staff. The report suggests that the “low-hire, low-fire” job market remains in effect. (The Associated Press)
Warner Bros rejects Paramount takeover again and tells shareholders to stick with Netflix bid
Warner Bros. again rejected a takeover bid from Paramount and told shareholders Wednesday to stick with a rival offer from Netflix. Warner’s leadership has repeatedly rebuffed Skydance-owned Paramount’s overtures – and urged shareholders just weeks ago to back the sale of its streaming and studio business to Netflix for $72 billion. Paramount, meanwhile, has made efforts to sweeten its $77.9 billion hostile offer for the entire company. Warner Bros. Discovery said Wednesday that its board determined Paramount’s offer is not in the best interests of the company or its shareholders. (The Associated Press)
NRG Energy appoints Robert Gaudette as its next CEO
NRG Energy on Wednesday named Robert Gaudette to serve as its next CEO after incumbent Lawrence Coben steps down from the role at the end of April. As part of the planned succession, Coben will step down as the company's president effective immediately. CEO-designate Gaudette currently oversees NRG's business-to-business retail gas, power, and demand response platform, along with market operations and power generation. He joined the company in 2001 and has held multiple senior roles over his tenure. (Reuters)
Gov. Murphy to deliver final State of the State Address on Jan. 13
Gov. Phil Murphy will deliver his final State of the State Address in Trenton Jan. 13. The speech will take place at 3 p.m. in the Assembly Chamber at the State House. It will cap Murphy’s eight years in office, as Governor-elect Mikie Sherrill prepares to be sworn in Jan. 20. The address can be livestreamed here. (NJBIZ)
Six Days Away
Meet the 2026 Power Players – the business leaders shaping New Jersey
BINJE, the business publication unveiled its 2026 Power Players list – the CEOs, principals, managing partners and executive directors shaping business in New Jersey. These are the leaders to watch – and to meet. You can meet them Jan. 13, when BINJE recognizes them at The Heldrich Hotel in New Brunswick for the ultimate networking event to kick off the year. The N.J. Chamber is serving as event planner. Register here. (BINJE)
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