The Chicago Board of Education on Wednesday saw its issuer rating and debt ratings from Moody’s Investors Service upgraded a notch, to Ba1 from Ba2 — still speculative grade, but one level below investment-grade status. The rating outlook remains positive after the upgrade. Moody’s cited improvements in Chicago Public Schools’ operating fund net cash balance,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US and the UK are preparing strikes against Iran-backed Houthi rebels who have been attacking commercial ships in the Red Sea. The US is expected to lead the military response against the Houthis after
The U.S. Virgin Islands government is short on cash for its operations and its governor is asking the legislature to borrow $55 million to cover them. Gov. Albert Bryan Jr. will send his financial team to a Virgin Islands Senate hearing next week to argue for a change in usage for a letter of credit
In this article AVD Follow your favorite stocksCREATE FREE ACCOUNT Pavlo Gonchar | Lightrocket | Getty Images More than a dozen financial firms are involved in new bitcoin exchange-traded funds that began trading Thursday, but one of the biggest fund issuers and money managers in the world still won’t touch cryptocurrency. A Vanguard spokeswoman told
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An oil tanker linked to a dispute between Iran and the US has been seized off the coast of Oman, in a raid UK maritime authorities said was carried out by individuals in black military-style
CFOTO | Future Publishing | Getty Images The bitcoin exchange-traded funds launching Thursday after the SEC’s long-awaited approval come at a wide variety of price points, with signs that a fee war is already underway. The Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new bitcoin funds, at 0.20%. Several other
The Biden administration Wednesday announced $623 million for cities and states to help build a national electric vehicle charging station network, a prominent piece of the president’s infrastructure agenda that so far has been off to a slow start. The grants mark the first round of funding from the Infrastructure Investment and Jobs Act’s $2.5
These days, housing affordability is a struggle for nearly everyone. But for young adults just starting out, soaring home prices and sky-high rents have become one of the greatest obstacles to making it on their own. Nearly one third, or 31%, of Generation Z adults live at home with parents because they can’t afford to buy
Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), during an interview in Washington, DC, US, on Thursday, July 27, 2023. Andrew Harrer | Bloomberg | Getty Images Securities and Exchange Commission Chair Gary Gensler’s statement on why the agency has approved the listing and trading of a group of spot bitcoin ETFs
Chesnot | Getty Images The U.S. Securities and Exchange Commission on Wednesday approved rule changes to allow the creation of bitcoin exchange-traded funds in the U.S., a long-awaited move that will give regular investors access to the controversial and volatile cryptocurrency. The decision will likely lead to the conversion of the Grayscale Bitcoin Trust, which
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Securities and Exchange Commission has approved the first spot bitcoin exchange traded funds in a watershed moment that cryptocurrency enthusiasts are betting will draw new retail and institutional investors into the market. The
Municipals continued to experience a short-end correction Wednesday amid a busy day in the primary market which saw Jefferson County, Alabama’s, mega sewer refunding deal price along with a billion-plus of Massachusetts GOs offered to retail. U.S. Treasuries were slightly weaker out long and equities were in the black near the close. The municipal AAA
The Oklahoma Turnpike Authority, which is undertaking a $5 billion, bond-financed expansion project, will challenge the constitutionality of a 2023 state law that altered its governance structure. The OTA board voted Tuesday to seek judicial review of the law, which stripped the governor of his sole ability to appoint the six-member board, giving two appointments
Representations of cryptocurrency Bitcoin are placed on a PC motherboard in this illustration taken June 16, 2023. Dado Ruvic | Reuters Crypto investors are waiting for the Securities and Exchange Commission to approve a raft of spot bitcoin applications, likely Wednesday With a spot bitcoin ETF now looking very real, attention is turning to the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has announced new legislation to overturn the convictions of hundreds of sub-postmasters prosecuted by the Post Office in the Horizon IT scandal. The UK prime minister told the House of Commons on Wednesday
A “For Sale” outside a house in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. David Paul Morris | Bloomberg | Getty Images Mortgage rates moved a little bit higher last week, for the second
The U.S. District Court’s interpretation gave more to Puerto Rico Electric Power Authority bondholders than legally allowed, the Puerto Rico Oversight Board told the First Circuit Court of Appeals. Not only are the bondholders wrong in claiming a lien on all revenues coming to PREPA but District Judge Laura Taylor Swain was wrong in awarding
A for sale sign hangs outside a home on the west side of Detroit, Michigan. Fabrizio Costantini | Bloomberg | Getty Images Home prices are rising faster and faster each month, fueled by a decline in mortgage rates. On a national level, home prices jumped 5.2% in November compared with the same mont a year
The Governmental Accounting Standards Board has issued new guidance requiring governments to disclose information related to their own vulnerability, asking governments to disclose certain heightened risks related to concentrations and constraints in government revenue sources and defines those terms to help them do that. “It was in 2020 that we started this project and we
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Post Office’s former chief executive Paula Vennells will hand back her CBE after the UK prime minister backed calls for a review into whether she should be stripped of her honour. Vennells said in