The U.S. Virgin Islands Water and Power Authority Board of Directors voted 3 to 2 to approve borrowing from the territory’s government to retire a $285 million liability. The authority also voted 3-1 to approve a deal with the entity it owed the money to, Vitol, to pay off the debt at a reduced
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Record state spending on California’s K-12 education will enable schools to retain stable credit quality despite a several-year drop in enrollment, Fitch Ratings said. The state’s schools experienced their sixth year of declining enrollment in fiscal 2023, dropping below 6 million students for the first time in 20 years, said Fitch’s report, released Thursday. The
At a press conference alongside South Korean president Yoon Suk Yeol in the White House Rose Garden this week, Joe Biden appeared to relish the possibility of a rematch against his one-time opponent Donald Trump. Asked whether he was the only Democrat capable of defeating Trump in 2024, the president, wearing his trademark aviator sunglasses,
Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. The risks of a United States debt default are the first topic of this week’s
The Municipal Securities Rulemaking Board will soon issue a request for comment on Rule G-12, on inter-dealer confirmations, where it will engage the market on whether to codify or retire nearly 40 pieces of interpretive guidance related to the rule. That decision came out of the MSRB’s quarterly Board of Directors meeting on April 26-27,
Having listened to many officials and government ministers speaking about the global economy in recent months, I have sensed their visceral fear of sounding complacent. The world is uncertain and fragmenting, they say. There are risks of a hard landing. Great power rivalries undermine prospects. We face a world of frequent adverse supply shocks. And
While a home with exceptional architecture showcases the great creative and innovative strides that humankind can achieve, a home with exceptional views showcases our limits—after all, there is perhaps no greater architect than mother nature. Of course, truly superlative homes are those that combine the best of human and natural designs or, as famed linguist,
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POLAND – 2023/03/21: In this photo illustration, a First Republic Bank logo is displayed on a smartphone with stock market percentages in the background. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. First Republic — Shares of the
Shares in First Republic plunged nearly 40 per cent on Friday as the embattled California bank prepared to end another week of turmoil without a long-term plan for its survival. First Republic and its advisers have been working on a private-sector solution that would keep the bank from being taken over by the Federal Deposit
The cryptocurrency market witnessed sharp volatility on April 26 on rumors that large sums of Bitcoin (BTC) were on the move from the wallets linked to the defunct cryptocurrency exchange Mt. Gox and the United States government. A minor positive is that Bitcoin and select altcoins held their respective support levels. After Bitcoin’s sharp rally
As of April 28, 2023, the number of Ordinal inscriptions on the Bitcoin blockchain has exceeded 2 million, according to current statistics. This milestone has been reached within just over four months since the first Ordinal inscription was minted on December 16, 2022, at block height 767,753. In total, inscription minting fees have amounted to
The central Mexican hill town of San Miguel de Allende is known for its rich mix of historic architectural styles. The same could be said of a luxury complex in the inland town about 170 miles northwest of Mexico City. Casa Opera, as the home is called, is located in the Frailes neighborhood. It was
Since Silicon Valley Bank failed in March, regulators have been studying why, exactly, they didn’t better identify the risks of having the country’s 16th-largest bank keep more than 90 per cent of its deposits uninsured. Now the Fed is out with an initial report on what went wrong: The four key takeaways of the report
While taxable municipal issuance has plummeted year-to-date, a result of continued market volatility and rising interest rates, the sector is outperforming tax-exempts by wide margins. There is still value for issuers to price taxables and demand from investors in the U.S. and abroad for them is real, market participants said. “Yields relative to Treasuries for
When cosmetics mogul Elizabeth Arden purchased hundreds of acres in rural Maine for her summer estate-turned-spa she probably didn’t think it would become a haven for veterans with missing limbs, but that’s exactly what retired Army Staff Sergeant Travis Mills thought when he purchased the property in 2015. Mills, who lost all four of his
The revised $106.7 billion fiscal 2024 budget proposed by Mayor Eric Adams is the largest spending plan ever for New York City and while it contains near-record reserves, it also projects growing budget gaps in future years. “Our fiscal year 2024 budget is balanced at $106.7 billion. That is $4 billion more than it was in
Silicon Valley Bank’s failure last month stemmed from weakened regulations during the Trump administration and mis-steps by internal supervisors who were too slow to correct management blunders, the US Federal Reserve said in a scathing review of the lender’s implosion. The long-awaited report, released on Friday, had harsh words for the California bank’s management but
Bitcoin (BTC) stayed choppy at the April 28 Wall Street open while United States macro data conformed to expectations. PCE offers “nothing to shock” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD fluctuating around the $29,000 mark on Bitstamp. U.S. Personal Consumption Expenditures (PCE) Index data, tipped as the macro event of the week,
According to unnamed sources, the home of Ryan Salame, the former co-chief executive of FTX Digital Markets, was searched by the U.S. Federal Bureau of Investigation (FBI) on Thursday. The grounds for the raid remain unknown, and neither Salame nor his legal representative have offered any statement concerning the situation. FBI Conducts Mysterious Search on
Almost one month after missing the April 1 start of its fiscal year, New York State officials have reportedly come to an agreement on a $229 billion budget for fiscal 2024. Gov. Kathy Hochul announced a “conceptual agreement” with the state Legislature Thursday night that addressed priorities for the year ahead including funding for the New York