New York is poised to become the first U.S. city to charge drivers to enter an urban center after the city won final federal approval Monday for its congestion pricing plan. The Metropolitan Transportation Authority will oversee the program. MTA Chair and CEO Janno Lieber said Wednesday that drivers could expect to see tolling by
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The volume of Ether staked keeps reaching new heights since the Shapella upgrade in April, crossing 23 million Ether locked in June. According to data from analytics firm Nansen, a total of 23.3 million Ether (ETH) was staked as of June 27, amounting to $43.1 billion at the time of writing and representing nearly 20% of the
There are new signs of a resilient housing market and a home renovation rebirth with potentially bullish implications for three of our Club names. Shares of Stanley Black & Decker (SWK) and Caterpillar (CAT), whose tools and machinery are used in homebuilding, have been on the upswing in recent weeks. Additionally, after a lull in
In the latest episode of The Market Report, analyst and writer Marcel Pechman analyzes some data to conclude whether Bitcoin (BTC) will ever trade at $27,000. Some analysts attribute Bitcoin’s recent 21.5% gains to BlackRock’s spot Bitcoin exchange-traded fund (ETF) filing, but other events might have also fueled the cryptocurrency gains. Pechman asserts that, following
The Treasury Department teamed up Tuesday with the Environmental Protection Agency, the Department of Energy and the U.S. Dept. of Agriculture to showcase several Inflation Reduction Act programs targeted at rural municipalities and non-profit entities, also highlighting clarifications on direct-pay rules that may incentivize some projects to use taxable municipal bonds for clean energy projects.
Vladimir Putin has moved to shake up Russia’s security services in the wake of the Wagner group’s failed insurrection, rewarding loyalists with promotions and freezing out figures sympathetic to the paramilitary organisation’s leader Yevgeny Prigozhin. Sergei Surovikin, a senior Russian general known to have a good relationship with Prigozhin, has not been seen since recording
On June 28th, the Commodity Futures Trading Commission (CFTC) announced that Judge Naomi Reice Buchwald of the U.S. District Court for the Southern District of New York had issued a default judgment that granted a permanent injunction against Michael Ackerman, a resident of Alliance, Ohio. Today a federal court ordered an Ohio man to pay
More than 160 projects across all states won a chunk of federal funds from a popular and competitive transportation grant program. The projects will “make transportation systems safer, more accessible and more sustainable,” said White House infrastructure senior advisor Mitch Landrieu Tuesday in a press call announcing the grants. “Each one of the projects are
Almost 35 years after Margaret Thatcher sold off Britain’s water industry, the prime minister denouncing her opponents as “weak” left-wingers, the sector is facing its biggest crisis and is posing serious problems for her present-day Conservative counterpart. On Wednesday, Rishi Sunak’s government was preparing contingency plans for a possible temporary nationalisation of Thames Water, one
ARK Investment Management has amended its spot Bitcoin exchange-traded fund (ETF) application with the U.S. Securities and Exchange Commission (SEC), making it similar to BlackRock’s recent filing. The amendments include a surveillance sharing agreement with the Chicago Mercantile Exchange (CME) futures markets and crypto exchange, most “likely Coinbase”, said Bloomberg’s ETF analyst Eric Balchunas on
Switzerland has vetoed a plan to export nearly 100 mothballed Leopard battle tanks to Ukraine, citing neutrality laws for a decision made just as Kyiv’s counteroffensive enters a decisive phase. Bern’s veto is likely to spark anger among Switzerland’s European allies, who for months have been pressing the government to relax its restrictive interpretation of
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Bank of England governor Andrew Bailey on Wednesday signalled interest rates in the UK are likely to stay higher for longer than financial markets are expecting because inflation has proved to be such a persistent problem. Speaking at a European Central Bank conference in Sintra, Portugal, Bailey suggested markets were wrong to think rates would
What on earth is happening in Russia? It isn’t merely ordinary observers who were confused by last week’s “coup that wasn’t”, undertaken by the Wagner leader Yevgeny Prigozhin. I’ve spent the week talking to western diplomats and foreign policy officials, and almost no one has been able to explain with confidence exactly what occurred, much
On June 28, software analytics firm MicroStrategy announced the corporate purchase of 12,333 Bitcoin (BTC), worth $347 million at the time of publication. After the transaction, the total balance of BTC owned by MicroStrategy increased to 152,333 ($4.52 billion), with an average purchase price of $29,668 apiece. The total average purchase price is close to
Bitcoin (BTC) staged another retest of $30,000 support on June 28 as the United States Federal Reserve stayed hawkish on inflation. Powell on rate hikes: “More restriction coming” Data from Cointelegraph Markets Pro and TradingView showed BTC price action sticking to a narrow range at the Wall Street open. This accompanied fresh comments on economic
Fitch Ratings said that a decade of deleveraging has officially come to an end for public power utilities in the United States. Leverage metrics for U.S. public power utilities weakened meaningfully, Fitch said in a sector review issued last week. This has effectively reversed the trend of deleveraging that began over 10 years ago, the
If water is life then life has been pretty good for those that keep Britain’s taps flowing. None has done better out of Thatcherite liberalisation than private owners of water utilities, including UK pension funds. Thames Water has sprung a cash leak. The snap departure of chief executive Sarah Bentley sparked talk of renationalisation on
Raymond James has expanded its public finance department with three hires for its senior living and debt restructuring groups. The team of David Fields, Rob Whitlock and Naomi O’Dell joins the firm from RBC Capital Markets bringing a combined 80 years of senior living investment banking and debt restructuring experience. “The addition of this specialized
Back in 1984, a U.K. television advertisement for Kit Kat chocolate bars was set in a music label’s office where a keen young band played their demo for a bored music executive. Afterward, they were served the famous chocolate bars and the manager said: “You can’t sing, you can’t play, you look awful… you’ll go
It is possible that the UK will look back on the next campaign as the hopeless election, a contest between two parties for the support of voters who do not believe either will materially improve their lives or the country. The lack of hope is palpable. People feel battered by inflation, falling living standards, strikes,