Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer. However, a positive sign is that after
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On Wednesday the Internal Revenue Service issued a notice of proposed adverse determination to the Port of Port Arthur Navigation District of Jefferson County, Texas, indicating that a 2017 $55 million bond issuance will be considered taxable, though attorneys caution that such situations nearly always resolve without impact to the investors. According to the notice posted on
California has expanded the ability of its local agencies to use progressive design-build contracts for certain infrastructure projects in a bid to control costs and remain on schedule. Gov. Gavin Newsom in July signed into law the latest progressive design-build measure, Senate Bill 146, which allows the Department of Water Resources and the California Department
What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well
Judge Martin Glenn shot down efforts to have a special shareholders class declared in the Celsius Network bankruptcy case in a court document filed on Aug. 25. The judge also declined to settle whether or not the Celsius (CEL) token was a security. In a motion filed on July 25 and heard before the United
High-rise tower buildings along the central Sheikh Zayed Road in Dubai on July 3, 2023. Karim Sahib | Afp | Getty Images Dubai’s luxury home prices surged by nearly 50% in the year up until June, maintaining its top ranking for the eighth consecutive quarter, according to a new report by Knight Frank. According to data
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Investment firms ARK Invest and 21Shares have teamed up to apply for two Ethereum futures exchange-traded funds after reports emerged last week that the United States securities regulator could soon begin approving applications. The two proposed Ethereum futures ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy
In this article JWN Follow your favorite stocksCREATE FREE ACCOUNT Check out the companies making headlines in extended trading on Thursday. Customers walk through a shopping mall along the Magnificent Mile in Chicago, March 15, 2023. Scott Olson | Getty Images Affirm Holdings — The stock added 10.8% after its quarterly results came in better than
As the frequency and severity of extreme weather events, such as hurricanes, floods and wildfires continue to rise, it’s more critical than ever that commercial real estate (CRE) owners and operators prepare by developing proactive, resilient climate-related emergency strategies. While addressing climate change requires partnerships and coordinated action, front-end planning for severe weather and other
Municipals saw some weakness in spots Thursday as outflows from muni mutual funds continued. U.S. Treasury yields rose and equities sold off ahead of Fed Chairman Jerome Powell’s Friday Jackson Hole speech. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 65%, the five-year at 67%, the 10-year at 70% and the 30-year
Connecticut’s first offshore wind farm is one step closer to reality after a federal ruling came down this week. On Tuesday, the Bureau of Ocean Energy issued a “record of decision” on a federal environmental review of Revolution Wind, a 704-megawatt offshore wind farm planned for development off the coast of the state in a
Wagner fighters made a makeshift memorial for their founder Yevgeny Prigozhin in St Petersburg on Thursday as the Kremlin maintained its silence on the warlord’s apparent demise in a plane crash. Supporters of Prigozhin, who is listed among the passengers of a private jet that crashed north-west of Moscow on Wednesday, killing all aboard, mourned
Value stock strategist, Tracey Ryniec, discusses Brush Engineered Materials Inc. (BW) and DSW Inc. (DSW).
When the markets are trending, traders should be active if they want to earn money. On the other hand, in a ranging market, it is better to wait on the sidelines with patience or traders may lose money due to choppy random moves in either direction. Bitcoin’s (BTC) sideways price action since the sharp fall
The cryptocurrency market has experienced a notable downturn recently, with the total market capitalization falling by 10% between August 14 and August 23, reaching its lowest point in over two months at $1.04 trillion. This movement has triggered significant liquidations on futures contracts, the largest since the FTX collapse in November 2022. Total cryptocurrency market
The focus was on the primary market Wednesday as the New York City Transitional Finance Authority’s $1 billion deal saw good reception, repricing to lower yields, though municipals underperformed a U.S. Treasury rally. Equities ended in the black . Triple-A yields fell or rose a basis point or two, depending on the scale, while Treasuries
An aircraft said to be carrying notorious warlord Yevgeny Prigozhin, whose Wagner group launched a failed mutiny in June, has crashed on a flight from Moscow to St Petersburg, according to Russian officials. All 10 people on the plane, including three crew members, died in the crash, Russia’s emergency ministry said, according to state newswire
Issuers in the Southeast sold $30.3 billion of municipal bonds in the first half of 2023, 29.9% less than they did in the same period last year, according to data supplied by Refinitiv. There were 490 deals, down from 788 a year earlier, when the region’s issuers sold $43.2 billion of bonds. The Southeast recorded
Unstoppable Domains (UD) has launched an instant messaging system for owners of Web3 usernames, according to an Aug. 23 announcement from principal engineer Aaron Quirk. Owners of .crypto, .wallet, .polygon or other UD-registered usernames can now message each other across most apps that use XMTP, including the UD iOS app and website, Coinbase Wallet, and
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