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The town council in Payson, Arizona, rescinded its Aug. 21 approval of $70 million of tax-exempt bonds in the wake of ongoing litigation and opposition to the debt sale from incoming council members.AdobeStock An Arizona town terminated a plan to sell $70 million of bonds despite prevailing in a lawsuit that claimed the debt’s approval
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Former director of the Office of State and Local Finance at US Treasury Kent Hiteshew, left, and David Dubrow, a partner at ArentFox Schiff, penned a pair of pieces arguing for direct SEC oversight of issuer disclosure. After decades of what investors see as inadequate disclosure from cities, towns and states, it’s time to consider
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. “I want to lead the most pro-growth, pro-business Treasury our country has ever seen”. That’s what chancellor Rachel Reeves told business leaders at a Rolls-Royce plant near Derby before the election. After Wednesday’s Budget, some
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s financial watchdog has warned Crispin Odey that it intends to take action against the hedge fund boss after finding that his response to allegations of sexual misconduct had breached its rules and “lacked
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The University of California, Berkeley is one of 10 campuses in the UC system.Bloomberg News The volatility in California’s state tax and revenue structure has its two massive public university systems scrambling. To close a budget gap, state lawmakers cut funding to the University of California and California State University systems in July as part
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Chancellor Rachel Reeves was standing her ground. In the week she dropped a £40bn tax bombshell on Britain and unsettled markets with plans for £28bn of extra annual borrowing, she declared: “What alternative was there?” On the street outside the Treasury the mood was equally resolute. On Wednesday night some 200 of Reeves’ officials toasted
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While some went gaga this week over the Budget bus fare cap and whether the word “supporters” included an apostrophe, the Lancet published a new Countdown report on health and climate change. It couldn’t be seriouser. Ten of 15 indicators of hazards, exposures or impacts hit record levels last year. For example, global data show
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German business executives have warned that high levels of sick leave are damaging the competitiveness of Europe’s largest economy and compounding its economic woes.  Workers missed an average of 19.4 days because of illness in 2023, according to Techniker Krankenkasse, the country’s largest public health insurance provider. Preliminary figures suggest the trend is on course
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