The Commonwealth of the Northern Mariana Islands, a U.S. territory, “is at risk of a severe fiscal crisis,” according to a U.S. Government Accounting Office report. The CNMI had $114 million of debt outstanding as of September 2020, much of it bond debt, according to its most recent audited statement. The government at that time
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The former finance chief of Carillion has been barred from holding company directorships for more than a decade, marking the first boardroom ban on an executive of the collapsed construction company. Zafar Khan, who served as Carillion’s finance director before its implosion in early 2018, has been disqualified from working as a director of a
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Ballard Spahr has promoted three public finance attorneys to partners the firm announced. The public finance lawyers include Charles Treece, Azer Akhtar, both in Washington, D.C., and Jennifer Santangelo in Philadelphia. They were among the seven attorneys Ballard Spahr elected to the firm’s partnership on July 1. Treece’s practice focuses on representing government-sponsored enterprises and
16Rock Asset Management LLC has launched a new hedge fund aimed at using a multi-strategy approach to capture the $4 trillion municipal markets’ recurring opportunities. The new fund, which launched Saturday and is open to trade, is called the 16Rock Municipal Opportunities Fund LP and will compete in the small universe of municipal hedge funds.
Former senior UK government official Sue Gray committed a “prima facie” breach of civil service rules when she failed to declare her initial contact with the opposition Labour party over a job offer, according to an internal probe by the Cabinet Office. The finding comes days after Gray, who is best known for leading the
The government has begun the search for a new BBC chair after appointing headhunters Saxton Bampfylde to oversee the job of replacing former board head Richard Sharp who resigned over a “potential perceived conflict of interest”. The hunt for the next head of the public broadcaster has assumed greater significance after criticism of the process
Bitcoin (BTC) lingered below $31,000 at the July 3 Wall Street open with bulls still in need of a catalyst. Bitcoin price: Sink or swim at $30,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in a tight range following the weekly close. BTC price performance remained firmly sideways into the new week,
People walk by electric truck maker Rivian’s newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023 in New York City. Spencer Platt | Getty Images Check out the companies making headlines in midday trading. Electric vehicles — Electric vehicle makers such as Rivian Automotive surged following Tesla’s better-than-expected second-quarter production and
Asda and Morrisons have both raised their margins on fuel since their takeover by private equity firms, according to the UK competition watchdog, which warned that weakening competition was pushing up motorists’ costs. The two retailers have “significantly increased” the targeted gap between what they pay for petrol and diesel and how much they sell
Robert Benecke and firm Benecke Economics have been charged by the Securities and Exchange Commission for acting as an unregistered municipal advisor to three municipalities in New Jersey in a case that is emblematic of what many view as a growing problem nine years after final effectiveness of the municipal advisor registration rule. For his
The writer is an FT contributing editor The successive shocks we’ve experienced over the past three years have had a lasting impact on the global economy. But according to John Williams, president of the New York Federal Reserve, and his co-authors Kathryn Holston and the late Thomas Laubach, the economy may not have transformed as
In this article TSLA HAL 9868-HK PDD Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration, the Tesla, Inc. logo is displayed on a smartphone screen. Rafael Henrique | Lightrocket | Getty Images Check out the companies making headlines in premarket trading. Tesla — Tesla shares popped nearly 7% after the electric vehicle company
Singapore’s central bank is introducing new measures to improve investor protection and market integrity in the cryptocurrency industry. On July 3, the Monetary Authority of Singapore (MAS) announced new requirements for crypto service providers to hold customer assets into a statutory trust by year-end. “This will mitigate the risk of loss or misuse of customers’
European stocks and US futures rose on Monday, after better than expected data from China added to bullish momentum driven by large US technology stocks such as Tesla. Europe’s region-wide Stoxx 600 added 0.2 per cent, lifted by strong performance in energy and basic materials stocks. London’s energy-focused FTSE 100 rose 0.3 per cent and
A spectre is haunting Europe. The spectre of Donald Trump. Many European decision makers admit that they were caught unprepared by Trump’s election as US president in 2016. They are determined not to make the same mistake again. But knowing that Trump might win the presidency back in 2024, and knowing what to do about
Currency speculators have boosted bullish wagers on the pound to the highest level for nine years despite recent signs that sterling’s strong rally this year is flagging. The growing consensus among speculative investors, such as hedge funds, comes after sterling has already rallied strongly this year, driven by the Bank of England’s effort to lift
Despite changes introduced by Twitter management since Elon Musk’s takeover, the issue around fake followers remains a persistent problem. As many as 10% of the followers of accounts belonging to crypto influencers and companies are fake, new data from dappGambl has revealed. In April 2023, Musk introduced Twitter Blue — an $8 monthly subscription for verification
The Belarusian foreign ministry is working on legal amendments to prohibit peer-to-peer, or P2P, transactions in cryptocurrencies like Bitcoin (BTC). The Ministry of Foreign Affairs (MFA) of the Republic of Belarus on July 2 issued an official announcement on Telegram about new legislation that would ban P2P crypto exchange for individuals. The authority cited a
North American mining firm Hut8 is seeing new demand for AI and high performance computing as it looks to re-energize some 6,400 rigs being moved from its inoperative North Bay site in Ontario. As previously reported, Hut8 is in an ongoing legal battle with its third party energy supplier Validus Power over alleged failure to
Bitcoin (BTC) starts the first week of July with a sigh of relief for traders as $30,000 support holds. BTC price action refuses to succumb to bears after 20% gains in Q2, with weekly and monthly timeframes looking strong. What’s next? A quiet week is expected on TradFi markets, with Wall Street gearing up for