Fitch Ratings upgraded the District of Columbia’s ballpark revenue bonds Series 2006A and 2006B to AA from AA-minus, a development that Washington officials believe highlights the strong current and future position of the unique city. “This Fitch upgrade reflects our financial stability and the strong economic prospects of the district,” said Chief Financial Officer Glen
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The town council in Payson, Arizona, rescinded its Aug. 21 approval of $70 million of tax-exempt bonds in the wake of ongoing litigation and opposition to the debt sale from incoming council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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Stay informed with free updates Simply sign up to the Life & Arts myFT Digest — delivered directly to your inbox. Now, that is the real question for all of us. Keir Starmer’s Labour party has come up with this new form of chosen people. These are the elect, the good guys, the ones to
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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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