Important state and national stories, market and business news, sports and entertainment, delivered in quick-hit fashion
In Mississippi
1. Auditor says millions spent despite high absence rates at child care centers
According to a new report released by the Mississippi Office of the State Auditor on Tuesday, approximately 20% of childcare centers accounted for 90% of reported paid absences in Mississippi’s Child Care Payment Program (CCPP).
The report also found taxpayers likely paid between $13.8 million and $30.9 million during Federal Fiscal Year 2024 for children who were reported absent from childcare centers. The Auditor said taxpayers likely paid up to $30.9 million during Federal Fiscal Year 2024 for children who were reported absent from childcare centers. Five centers alone accounted for more than 40% of unattended-yet-paid days among sampled childcare centers.
The Auditor said that due to Biden-era rules, providers are paid with CCPP dollars based on enrollment rather than attendance, meaning centers receive taxpayer-funded payments whether children show up or not. Auditors found that more than 13% of sampled payments were made for days when recipient children were reported absent. Current federal regulations allow childcare providers to continue receiving payments for up to 60 consecutive days of absences before a child’s certificate may be revoked. Only then is money cut off from the centers.
2. Chaney awarded 2026 Malcolm McMillin Public Service Award
Mississippi Insurance Commissioner and State Fire Marshal Mike Chaney received the 2026 Malcolm McMillin Public Service Award during the Police Memorial and Top Cop Appreciation Day held at the Mississippi Trade Mart in Jackson on Tuesday.
Malcolm McMillin served as Hinds County Sheriff for more than two decades. He was a Military Policeman in the U.S. Air Force, served three tours of duty in Vietnam, and was Chairman of the State Parole Board in 2012-2013. His sons, Chris and Andrew McMillin, presented the award to Comm. Chaney.
“Long before he ever held public office, Comm. Chaney answered a call to serve his country in Vietnam. His commitment to service continued through his faith. In addition to being a servant, he took steps to be a leader and holds a Theology Certificate from the University of the South,” said Andrew McMillin.
National News & Foreign Policy
1. Trump in China
The Hill reports that “President Trump is embarking on a high-stakes visit to China this week to meet with Chinese President Xi Jinping, and the two leaders are expected to tackle a number of issues including the war in Iran and trade.”
“The meeting marks the first state visit to China since Trump’s last trip in 2017. The two leaders last came face-to-face in October during a meeting in South Korea,” The Hill reported. “The trip was originally set for late March but was postponed because of the ongoing war in Iran. Xi is tentatively slated to visit Washington later this year.”
The Hill added, “This week’s visit will likely set the tone for relations between Washington and Beijing going forward.”
2. Starmer on his way out as PM?
According to the New York Times, “When Prime Minister Keir Starmer led the Labour Party to victory in Britain’s last general election, in 2024, he campaigned on a platform of stability, selling his party as the antidote to years of chaos under a succession of Conservative prime ministers.”
“Now, Labour’s promise of steady governance seems under threat, as Mr. Starmer battles calls for his resignation from his own party after it suffered heavy losses in local elections last week,” NYT reported. “Critics of Mr. Starmer argue that his deep unpopularity makes a new leader necessary if Labour is to stand a chance in the next general election, which must be held by 2029. But some of his allies have pointed to the cumulative damage done to the country by the cycling through of prime ministers under the Conservatives, and warned Labour to be cautious about following suit.”
NYT noted, “Five Conservative Party leaders led Britain from 2016 to 2024.”
Sports
1. A new HR king at Ole Miss as Rebels defeat UT Martin
Senior third baseman Judd Utermark became Ole Miss baseball’s new home run king as the Rebels blew past UT Martin, 17-6, Tuesday evening at Swayze Field.
Utermark’s first inning blast signified No. 49 of his career, officially surpassing Ole Miss (35-18) legend Kyle Gordon as the new program standard.
Gordon held the record for just under 40 years, with other Rebel greats Tim Elko, Matt Smith and Matt Snyder each threatening in recent years, but it’s Utermark who took the crown.
Ole Miss is headed to Tuscaloosa to face Alabama this weekend, beginning Thursday at 6 p.m.
2. Ferriss Trophy finalists announced
The 2026 Ferriss Trophy finalists were announced Tuesday. The Ferriss Trophy honors the top college baseball player in the state.
The finalists are:
- Judd Utermark (Ole Miss)
- Cade Townsend (Ole Miss)
- Ace Reese (Miss. State)
- Tomas Valincius (Miss. State)
- Grayden Harris (Southern Miss)
The award ceremony is slated for Monday, May 18 at 11:30 a.m. at the Mississippi Sports Hall of Fame & Museum.
Markets & Business
1. Oil markets may not recover until 2027
FoxBusiness reports that the CEO of Saudi Arabia’s state-owned oil company “is warning that the energy sector will take time to recover from the Iran war’s impact on supply as oil output was slashed due to the ongoing disruptions to shipping in the Strait of Hormuz.”
“Saudi Aramco CEO Amin Nasser said on an earnings call Monday that the global energy market has lost about 1 billion barrels of oil supply during the crisis, though efforts to reroute shipments to avoid using the Strait of Hormuz and releases from countries’ strategic petroleum reserves have eased some of the supply issues,” FoxBusiness reported.
“The energy supply shock that began in the first quarter is the largest the world has ever experienced,” Nasser said.
FoxBusiness continued, “He said that the world is now losing about 100 million barrels of oil supply per week as long as the Strait of Hormuz remains largely closed to tanker traffic. If the disruption continues for several more weeks, Aramco thinks that oil markets may not normalize until 2027.”
2. Mortgage rates at highest level in 5 weeks
As CNBC reported, “Homebuyers appear to be getting used to the new normal of higher mortgage rates, even the highest in over a month.”
“Buyer demand for mortgages helped to push total mortgage application volume up 1.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index,” CNBC reported. “The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.46% from 6.45%, with points decreasing to 0.63 from 0.66, including the origination fee, for loans with a 20% down payment.”
CNBC further reported, “Applications for a mortgage to purchase a home rose 4% for the week and were 7% higher than the same week one year ago. Buyer demand stalled at the beginning of the spring housing market, which coincided with the start of the war with Iran.”
-- Article credit to the staff for the Magnolia Tribune --
