In this article FRC MRK FDX Follow your favorite stocksCREATE FREE ACCOUNT A worker sorts packages at a FedEx Express facility on Cyber Monday in Garden City, New York, US, on Monday, Nov. 28, 2022. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines in extended trading. FedEx — The package-shipping
Emmanuel Macron, president of France, failed a critical parliamentary test on Thursday and chose to override lawmakers to pass his unpopular plan to raise the retirement age, risking a political crisis and backlash on the streets. The decision shows the government was unable to convince opposition MPs to back the reform to raise the retirement
During the Execution Layer Meeting streamed on March 16, 2023, Ethereum developers announced that the blockchain is scheduled to upgrade on April 12, in 27 days. The upgrade, known as the Shanghai-Capella upgrade or Shapella, will include the implementation of Beacon chain push withdrawals. This will enable Ethereum network validators to support withdrawal operations following
Munis largely ignored a U.S. Treasury sell-off as reports that some troubled banks were getting new funding helped calm investors’ concerns about a global banking crisis. Equities rallied on the news. Triple-A benchmarks were bumped up to five basis points, depending on the scale, while UST yields rose 10 to 25 basis points 10 years
There’s something happening at the nation’s malls, department stores and discount retailers. Smaller brands are setting up shop within these emporiums, providing a fresh offering for shoppers—and a new way for larger retailers to keep pace with rapidly evolving consumer trends. While the concept of a specialized offering surrounded by general merchandise isn’t new—it’s the
Credit Suisse’s bonds slid further on Thursday, leaving them firmly in distressed territory even after the beleaguered lender turned to the Swiss central bank for support and said it would buy back SFr3bn ($3.2bn) in debt. A Credit Suisse dollar bond maturing in 2027 gave up gains from earlier in the session to trade down
The target date for the highly anticipated Shanghai hard fork on Ethereum has now been set: April 12. Ethereum core developers approved the target deadline during the All Core Developers Execution Layer #157 call on March 16. The Shanghai mainnet upgrade features five Ethereum Improvement Proposals, including EIP-4985, which will enable staked Ether (ETH) withdrawals
In this article US6M Follow your favorite stocksCREATE FREE ACCOUNT Young man working at home Eva-katalin | E+ | Getty Images Investors seeking safety from last year’s market havoc went running to Uncle Sam — that is, they opened more than 3 million accounts to buy Treasurys and other bonds directly from the U.S. government.
A Biden administration proposal aimed at providing relief for transit agencies struggling with anemic ridership would benefit large agencies but could pressure smaller ones, local transit officials told a Senate panel Wednesday. President Joe Biden’s fiscal year 2024 budget, unveiled last week, would free up $6.7 billion in so-called 5307 urbanized area grant formula grants
One week, two very different banking crises on either side of the Atlantic. The travails of Credit Suisse, the 167-year-old behemoth that has lurched from scandal to scandal, look poles apart from those of Silicon Valley Bank, a US lender considered until very recently the darling of the tech world. SVB began the month with
The largest public school system in Texas will be run by state-appointed managers starting later this year as part of a takeover announced Wednesday by the Texas Education Agency. Houston Independent School District, which had $2.4 billion of bonds outstanding as of June 30, was targeted for takeover on the basis of academic performance. The
Trading spreads on Illinois GO bonds narrowed this week after the state’s latest rating upgrade, and an uptick in tax revenues could help keep the positive ratings momentum going if the state makes more headway on paying off debts and building reserves. The state’s moves to build up its rainy-day fund, pay down debts, and
The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal
Viorel Kurnosov | Istock | Getty Images With roughly two more months before the U.S. Department of Health and Human Services ends the three-year Covid public health emergency, more than 5 million of the nation’s households remain behind on their rent. All together, tenants continued to owe nearly $11 billion in rental debt during the
The $54bn lifeline Credit Suisse negotiated from the Swiss central bank on Wednesday night was meant to act as a “circuit breaker” on the stricken lender’s woes, according to people involved in the talks. But by close of play on Thursday, the bank’s shares still traded 11 per cent below where they started the day
A customer walks past an ATM outside of a First Republic Bank branch in Manhattan Beach, California, on March 13, 2023. Patrick T. Fallon | AFP | Getty Images Check out the companies making headlines in midday trading. First Republic Bank — Shares of First Republic erased earlier losses and were last up about 22%. Sources
Two U.S. bank failures sent Wall Street investors scurrying for the perceived safety of the bonds markets this week, providing the real estate industry with an unexpected boon on the brink of its busiest season: the lowest mortgage rates in three weeks. The average U.S. rate for a 30-year fixed-rate home loan fell to 6.6%
Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit
The failures of Silicon Valley Bank and Signature Bank have added to the uncertainty of whether the U.S. and California are headed for a recession. That lack of clarity led UCLA Anderson Forecast economists to provide a dual forecast in the quarterly report they released Wednesday: one where a recession lies ahead and one where
The Securities and Exchange Commission has proposed new rules for all market entities, including broker dealers and the Municipal Securities Rulemaking Board, to help address cybersecurity risks as one part of a three-part proposal intended to strengthen cybersecurity protections. Proposed new Rule 10, if implemented, would require entities across markets to establish, maintain and enforce
The market volatility triggered by the failure of three banks in the past week has spooked traders in economically vital US mortgage-backed securities, leaving other lenders, usually important buyers, on the sidelines. The $11tn market for bundles of US home loans was already feeling the strain of last year’s soaring interest rates, which pushed up