New Jersey faces the uncertain economic conditions ahead with historic reserves, a trimmed-down debt profile, and a slew of upgrades from the major bond rating agencies. The state has received six upgrades in a little over a year, including four in April alone, one from each of the four major rating agencies. The Kroll Bond
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In this article CVNA VFC COIN NVDA LYFT Follow your favorite stocksCREATE FREE ACCOUNT Customers shop at an Apple store on November 28, 2022 in Chicago, Illinois. Scott Olson | Getty Images Check out the companies making headlines in midday trading. Carvana – The used car retailer saw shares surge 28% after the company said
A look at the supply/demand dynamic for Manhattan and Brooklyn rentals suggests that rents are going up. Despite worries about oversupply and lower demand in the commercial sector, the opposite dynamic appears to be taking place in the residential sector. The year-over-year change in the number of new rental listings is starting to fall as
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Confidence in the United States financial system seems to be eroding fast with investors trying to find the next weakest link that is about to collapse. Bill Ackman, CEO of hedge fund management firm Pershing Square, cautioned that time was running out to fix the problem. The U.S. equities markets have become vulnerable to adverse
Wells Fargo’s role as senior manager in a potential $500 million bond sale for the Oklahoma Turnpike Authority is under review after the bank landed on the state treasurer’s list of companies banned from government contracts. The 13 financial institutions on the list released Wednesday were determined to be boycotting the oil and gas industry
Despite Hong Kong steadily progressing with cryptocurrency adoption, mainland China has not changed its anti-crypto stance in terms of local regulations. Some Chinese state-affiliated banks have increasingly opened bank accounts to serve crypto clients in Hong Kong. CPIC Investment Management — a China government-backed firm regulated as a Hong Kong entity — even launched two cryptocurrency
In this article COIN AAPL DKNG WBD CI Follow your favorite stocksCREATE FREE ACCOUNT Pedestrians walk passed signage at Cigna headquarters in Bloomfield, Connecticut. Michael Nagle | Bloomberg | Getty Images Check out the companies making the biggest moves premarket: Cigna — Cigna gained 3% in premarket trading after beating top- and bottom-line estimates for
Bitcoin transaction fees surged in early May, reaching their highest point over the past two years, according to data from Crypto Fees. On May 3, the total amount of fees paid on the Bitcoin blockchain reached $3.5 million, jumping about 400% from late April. The average Bitcoin transaction fee reached as much as $7.2, according
The UK’s opposition Labour and Liberal Democrat parties expressed optimism early on Friday that they were making significant gains as votes began to be counted after local elections in many parts of England. Both parties argued that their performances positioned them well for the forthcoming nationwide general election. Labour’s shadow health secretary, Wes Streeting, told
Smart contract auditor CertiK claims to have blocked $160,000 from Merlin, a zk-Sync-based decentralized exchange (DEX) which has been the center of a rogue insider “rugpull” that lost users $1.8 million last week. CertiK shared the news of its successful $160,000 freeze of the stolen funds in an update to its 257,700 Twitter followers on
Display showing Gecko character for GEICO Insurance during the Berkshire Hathaway Annual Shareholder Meeting in Omaha, Nebraska. Yun Li | CNBC Berkshire Hathaway shareholders attending this year’s meeting will want to know more about the company Warren Buffett once called his “favorite child” – the auto insurer Geico. With tens of thousands of shareholders in
Illinois lawmakers are being urged to slow down as they consider pension mandates for Chicago that Mayor Lori Lightfoot’s administration warns could add $3 billion to the city’s long-term payment tab for its firefighters’ fund. The legislation raises benefits for employees hired beginning in 2011 when a Tier 2 pension system was established. Pension experts
Municipals improved Thursday while outflows from municipal bond mutual funds rose to more than $800 million. U.S. Treasuries were better on bonds five years and in and equities ended down as more news of troubled regional banks and the continued debt ceiling standoff in Washington hangs over markets. Triple-A benchmarks were firmer, with yields falling
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2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a closer look at what has triggered a ‘great consolidation’ in the banking sector, a
PacWest shares plummeted 50 per cent in after-hours trading on Wednesday as the teetering California lender became the latest US midsized bank to seek a financial life line amid the worst industry turmoil since 2008. The bank has instructed boutique investment bank Piper Sandler to help it explore strategic options including a sale, two people
The Etsy website Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines after hours. PacWest, Western Alliance, Comerica – Shares of PacWest plunged more than 50% in extended trading following a Bloomberg News report that the regional bank was exploring strategic options, including a potential sale. The news weighed on other
Looking at the market’s choppiness and heavy supply, Columbus decided last week to push of its new money and refunding to this week, but little did officials know that the U.S. Treasury would throw a curve ball by suspending the sale of State and Local Government Series securities. City Auditor Megan Kilgore said the city’s