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
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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
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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has attacked Sir Keir Starmer’s decision to water down his flagship green investment programme, saying the move shows the Labour leader lacks a consistent plan. The Conservative prime minister said Starmer had a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Supreme Court on Thursday expressed doubts about a decision by Colorado’s highest court excluding Donald Trump from the state’s primary ballot, in a high-stakes election case with consequences for the 2024 presidential race.
In 2023 several municipal issuers made tender offers for their not-yet-callable high coupon tax-exempt bonds. In most cases, the intended goal was to refund and save interest. These tenders turned out to be remarkably unsuccessful — the average acceptance ratio was only around 30%. There was a dearth of the usual press releases reveling about
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s consumer prices fell at the fastest rate in 15 years in January, missing analysts’ forecasts and underlining the challenges for policymakers trying to revive investor confidence in the world’s second-largest economy. The country’s consumer
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
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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israeli Prime Minister Benjamin Netanyahu has rejected as “delusional” Hamas’s conditions for a deal to release the hostages it holds in Gaza, warning that accepting the terms would lead to “another massacre”. In a press
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
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
The focus shifted fully into the primary market Tuesday as the secondary took a backseat to large new-issues pricing in both negotiated and competitive markets while U.S. Treasuries halted its two-day sell off to see gains on the day. Equities ended mixed. Munis were little changed Tuesday, as UST yields fell six to nine basis
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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A 737 Max jet left a Boeing factory missing four bolts designed to secure a door panel that blew off in mid-flight last month, according to a preliminary report by a US regulator. The National
In this article WE Follow your favorite stocksCREATE FREE ACCOUNT Adam Neumann, Founder and former CEO of WeWork. Eduardo Munoz | Reuters Billionaire Adam Neumann is trying to buy back bankrupt real-estate company WeWork, which he founded in 2010 and was ousted from in 2019, DealBook reported Tuesday. Neumann, his startup Flow and Dan Loeb’s
Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Lynne Funk (00:03): Hello everyone and welcome to another Bond Buyer podcast. I’m Lynne Funk, executive
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s national chip champions expect to make next-generation smartphone processors as early as this year, despite US efforts to restrict their development of advanced technologies. The country’s biggest chipmaker SMIC has put together new semiconductor
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