Muni issuers are considering and beginning to roll out blockchain based solutions, including distributed ledger technology for various muni projects, but the market remains nascent. The introduction of blockchain and its use of digital ledger technology caught market attention in 2016 as a banking alternative that could transform operating systems, and for munis, promised the
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Cities have spent the last decade seeking the kind of federal support found in the bipartisan infrastructure bill that the House may vote on as soon as Monday, said mayors and representatives from the National Urban League in a press conference today. “Mayors in the U.S. have been in infrastructure week for over a decade
Kristalina Georgieva has stepped up her battle to remain at the helm of the IMF amid mounting calls for her resignation, issuing a forceful denial of claims she improperly pressured World Bank staff to change a flagship country ranking to benefit China. “Let me be clear: the conclusions are wrong. I did not pressure anyone
Chinese police have detained the two remaining co-founders of HNA in the latest twist in the collapse of China’s hitherto most acquisitive group. The bankrupt Chinese conglomerate, which is under state control, said chair Chen Feng and chief executive Adam Tan were taken into custody on Friday over suspected crimes, without providing details of the
China’s crackdown on foreign investors and domestic property speculation has prompted many international investors to head for the exits. Ray Dalio is not among them. Instead, the founder of the $140bn US hedge fund Bridgewater Associates and one of the most prominent foreign investors in the country, said he has spoken directly to officials from
US prosecutors have reached an agreement with Meng Wanzhou, the chief financial officer of Huawei and daughter of the Chinese tech giant’s founder, to resolve fraud charges against her. The details of the agreement are set to be announced in a court hearing in Brooklyn at 1pm, Eastern time, according to a letter from Nicole
The world’s financial markets rarely sit glued to their screens waiting for the no-nonsense Norges Bank to pronounce its verdict on Norway’s monetary policy. This week was different. The 0.25 percentage point rise in its interest rate was the most visible expression yet of a turn in the monetary policy cycle that is spreading across
The US Securities and Exchange Commission has given bond brokers a three-month reprieve to get in line with amendments to a 50-year-old rule that are set to come into effect next week, after banks, asset managers and trade lobbies fretted the changes could bring trading in large swaths of the market to a halt. Bond
The House will vote next week on raising the nation’s $28 trillion debt ceiling, but a political standoff between Democrats and Republicans still threatens to send the U.S. into a payments default next month. The Treasury Department has warned that without congressional action, the government could default sometime during October. But Senate Minority Leader Mitch
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