The direction of interest rates will have the greatest impact on the municipal bond market this year, according to a vote taken at The Bond Buyer’s 2024 National Outlook Conference in Manhattan on Thursday. Almost three quarters of respondents, 72%, said interest rates would have the most significant effect on the public finance industry in
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The Internal Revenue Service has informed the Port of Port Arthur Navigation District of Jefferson County, Texas that the tax-exempt status of a 2017 $55 million bond issuance remains unresolved, months after the district initially disclosed that the IRS was casting doubt on the tax-exempt status of the bonds. The notice came via a notice on
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BASF is to accelerate the sale of its stakes in two plants in Xinjiang, following “serious allegations” of human rights abuse by employees of its local joint venture partner. The German chemical company, which has
Debt-shy Tennessee is eying private activity bonds under its newly authorized public private partnership program. Gov. Bill Lee signed the Transportation Modernization Act into law last April, supported by a $3 billion general fund infusion, making Tennessee the latest state to authorize P3s. The alternative delivery method will be used to build four toll lanes
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Last year, Norway’s $1.5tn sovereign wealth fund revealed that it had lost NKr980mn, roughly $92mn, on an error relating to how it calculated its mandated benchmark. Here’s what Norges Bank Investment Management said at the
Congratulations to the FT for its instant audio version of articles — a perfect use of artificial intelligence, now copied by The Wall Street Journal. However, I don’t think it yet deserves the title of generative AI. The lady is not learning her contextual pronunciations and acronyms — emmen for mn (millions), live (as in
Ex-IFS Securities trader Keith Wakefield committed securities and wire fraud when, as the broker-dealer’s head of fixed income, the Chicago resident made forbidden speculative trades and embezzled hundreds of thousands of dollars over a two-year period, an Illinois federal court jury found this week. According to the U.S. Attorney’s Office for the Northern District of
Oppenheimer & Co. Inc. has brought on a pair of former UBS bankers to its public finance team under new public finance chief Elizabeth Coolidge. New York-based Kristin Stephens will head the firm’s Northeast region and Atlanta-based David Moffett will head the Southeast, the firm announced Thursday. “Kristin’s past work with issuers in developing innovative
In this article NYCB Follow your favorite stocksCREATE FREE ACCOUNT The New York Community Bank (NYCB) headquarters in Hicksville, New York, US, on Thursday, Feb. 1, 2024. Bing Guan | Bloomberg | Getty Images Embattled lender New York Community Bank disclosed a litany of financial metrics in the past 24 hours in a bid to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Michael Matheson has resigned as Scotland’s health secretary in a bid to close down a row over an £11,000 data roaming bill that his children helped run up on his work tablet device while on
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. European scientists have set a record for the amount of energy generated from nuclear fusion, another sign of progress in a decades-long effort to produce power by harnessing the reaction that powers the sun. Researchers
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Steel magnate Sanjeev Gupta’s “irresponsible” management is threatening European production of the metal as concerns mount over the viability of several of his plants, a powerful bloc of trade unions has warned. Two big union
D3sign | Stone | Getty Images Extreme weather and climate hazards are becoming more frequent, posing a unique threat not only for homeowners, but for renters. Over 18 million rental units across the U.S. are exposed to climate and weather-related hazards, according to the latest American Rental Housing Report from Harvard University’s Joint Center for
An active primary market was the focus Wednesday with the New York City TFA pricing for institutions with small changes to yields from its Tuesday retail offering, Massachusetts upsizing its GO refunding deal and Wisconsin selling green bonds in the competitive market. Triple-A muni yield curves were mostly little changed to a basis point of
Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023. Adam Jeffery | CNBC Pershing Square’s Bill Ackman is set to offer a new investment vehicle listed on the New York Stock Exchange, aiming to leverage his following among Main Street investors. The hedge fund
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Kenya is preparing to sell US dollar debt, capitalising on a thaw in markets to refinance a $2bn bond repayment later this year that had threatened to strain the finances of east Africa’s largest economy
Municipal bonds are part of an Illinois city’s plan to help the local casino build a bigger venue at a new location. In its current form, Aurora’s Hollywood Casino occupies a barge tethered near downtown on the Fox River. The city wants to build a brand new casino resort about five miles away, near an
Thianchai Sitthikongsak | Moment | Getty Images Mortgage demand is struggling to contend with what appears to be another upswing in interest rates. Homebuyers in particular are pulling back. Total mortgage application volume rose 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was all due
It has been almost a quarter of a century since the US Supreme Court in effect decided the 2000 presidential election in Bush vs Gore, calling off a recount of votes in Florida in a move that ultimately cemented the win for George W Bush. Now the country’s highest court is preparing to wade directly
In this article BTC.CM= CLSK Follow your favorite stocksCREATE FREE ACCOUNT An array of bitcoin mining units inside a container at a Cleanspark facility in College Park, Georgia, U.S., on Friday, April 22, 2022. Elijah Nouvelage | Bloomberg | Getty Images Bitcoin miner CleanSpark climbed on Tuesday after the company said it will acquire new
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