The New York Metropolitan Transportation Authority has been coping with a capital fiscal cliff since June, when Gov. Kathy Hochul canned congestion pricing, and the toll revenue that was supposed to fund $15 billion of projects. But that’s just the beginning of the authority’s capital shortfalls, according to New York State Comptroller Thomas DiNapoli. A
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In this article BTC.CM= Follow your favorite stocksCREATE FREE ACCOUNT Jonathan Raa | Nurphoto | Getty Images Despite the increasingly partisan sentiment in the cryptocurrency industry, bitcoin will thrive over the long term regardless of who wins the U.S. presidential election in November. That’s a view many crypto investors are coming to accept, as the
José Luis Gutiérrez | iStock Photo Why are September and October historically weak for stocks? For answers, I turned to Mark Higgins, senior vice president at Index Fund Advisors and author of the book, Investing in U.S. Financial History: Understanding the Past to Forecast the Future. The answers have been edited for clarity. What is it
Thanks to the run up in housing prices, homeowners now have more than $32 trillion in home equity as of the first quarter of 2024, according to the St. Louis Federal Reserve — an all-time high. “It’s one of the very few things we can say about today’s housing market that is, more or less, positive,” said
The Nasdaq Composite notched its best one-day rise in a month after heavyweight tech stocks climbed, recovering from a morning sell-off. The tech-heavy index rose 2.2 per cent on Wednesday, with gains accelerating in the late afternoon. Nvidia jumped 8 per cent, leading an advance for the rest of its Magnificent Seven peers. The Nasdaq
Raphael Bostic, president and chief executive officer of the Federal Reserve Bank of Atlanta.Bloomberg News Federal Reserve Bank of Atlanta President Raphael Bostic violated the central bank’s trading rules and policies in 2022, according to a government watchdog report. The Federal Reserve’s Office of the Inspector General, or OIG, released the findings from its review
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. With today’s data showing the US inflation rate slowing to 2.5 per cent, conditions in America’s labour market remain all-important for the 25 vs 50 basis point rate cut debate facing the Federal Reserve next
Texas Children’s Hospital, which was hit with rating downgrades this summer in the wake of operating losses, is moving ahead with an approximately $222 million revenue bond sale this week. The tax-exempt, fixed-rate debt issued through the Harris County Cultural Education Facilities Finance Corp. is scheduled to price Thursday. Proceeds are earmarked for capital projects
In this article ORCL Follow your favorite stocksCREATE FREE ACCOUNT A view of Oracle’s headquarters in Redwood Shores, California, on Sept. 11, 2023. Justin Sullivan | Getty Images Oracle chairman and co-founder Larry Ellison had a “bizarre” announcement to make this week. The electricity demand from artificial intelligence is becoming so “crazy” that Oracle is
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes,
Municipals were steady to slightly firmer in spots while the primary market took focus with at least 17 deals over the $100 million market hitting the screens led by billion-dollar-plus pricings from Washington, D.C., and Illinois. The New York City TFA priced $1.5 billion for retail investors and Chicago accelerated a pricing of water revenue
Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. “Middle-income countries are home to three out of every four people — and nearly two-thirds of those who struggle in extreme poverty. They are responsible for 40 per cent of the world’s total economic output
Municipals were little changed Monday as U.S. Treasuries were mixed and equities were in the black. As the market awaits the onslaught of new-issuance, muni underperformance to USTs continues from last week’s moves. “As USTs were rallying, dealers noted slightly better volumes but continued to report a slow grind as accounts are eyeing the heavy
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 9, 2024. Brendan Mcdermid | Reuters Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox.
For months, economists have wrestled with the disconnect between how well the economy is doing and how badly people feel about their financial standing. Now, evidence suggests that the so-called “vibecession,” or that prolonged period of negative sentiment about the economy, appears to be ending, according to Michael Pearce, deputy chief U.S. economist at Oxford Economics. As inflation cools
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. PwC is set to parachute in a senior partner from the UK to run its business in China, as the fallout from its audit of collapsed property developer Evergrande continues to mount. The accounting firm’s
Efforts by Muni Pride to align with other public finance affinity groups are reaping dividends for the group, which has grown to more than 100 individuals since its inception in 2019. The California-based national LGBTQ+ networking group will host its next event Oct. 1 in New York City. Connecticut State Treasurer Erick Russell will offer
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Siebert Williams Shank has brought on Lori Ciraolo to further strengthen its taxable fixed-income team. Ciraolo, who spent more than 17 years at Goldman Sachs, has been hired as a senior vice president in corporate and municipal short-term securities to help expand SWS’ taxable muni franchise through commercial paper trading. “It’s a hybrid role between
In this article S ROST PLNT Follow your favorite stocksCREATE FREE ACCOUNT In an aerial view, customers leave a Planet Fitness gym on May 09, 2024 in Richmond, California. Justin Sullivan | Getty Images September started on a rough note for the U.S. stock market, with certain economic readings showing signs of weakness. Ignoring the
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