The Metropolitan Pier and Exposition Authority of Illinois trimmed its spread penalties in the first primary outing of an Illinois-linked borrower to reap the benefits of the state’s positive rating momentum. The agency that manages Chicago’s downtown convention center campus priced $811 million of refunding bonds Thursday. It saw a 98 basis point spread to
Costs at the top US banks jumped more than $6.6bn, or 10 per cent, in the most recent quarter compared with the same period of last year as executives paid up for talent and technology to fortify their businesses against increasing competition from nearly every angle. The increase in spending at JPMorgan Chase, Goldman Sachs,
Street performers, or buskers, are leaning more toward digital platforms these days compared to the old method of accepting loose change. A report recently published by economists at RMIT University in Melbourne, Australia has found that in certain areas, buskers get more donations via digital payment methods like Paypal and bitcoin from people passing by,
Bitcoin (BTC) is on the verge of closing another week that saw the price dip closer to $30,000 but the same bearish observation cannot be made for all altcoins. On Friday, several smaller-cap altcoins managed to shake off the bearish assault and post-double-digit gains before traditional markets closed for the weekend. Data from Cointelegraph Markets
Chicago is searching for a financial advisor to help assess development proposals as it looks to stake out a share of the casino gambling market with the promise of a roughly $200 million annual jackpot. The city launched a request for qualifications for an advisor July 14 to help evaluate proposals it receives from a
Treasury Secretary Janet Yellen speaks during the daily press briefing on May 7, 2021, in the Brady Briefing Room of the White House in Washington, DC. Saul Loeb | AFP | Getty Images U.S. Treasury Secretary Janet Yellen will meet with the President’s Working Group on Financial Markets next week to discuss the role stablecoins
Traders on the floor of the New York Stock Exchange Source: NYSE Stocks enter a busy week for earnings news with two perplexing questions hanging over the market. One is whether the big gains in corporate profits will start to boost stocks with solid earnings reports. That was not the case for some financial sector
The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac will eliminate the hotly contested 0.5% refinance fee as of August 1 to help families reduce their housing costs. To allow households to save more money, lenders will no longer be required to pay the government-sponsored enterprises a 50-basis point fee
As home prices surge, a real estate start-up launched in October by two former Zillow executives sees opportunity. Cincinnati-based Pacaso purchases luxury single-family vacation homes and then sells them to groups of buyers through a fractional ownership model as part of an LLC, co-founder and CEO Austin Allison told CNBC on Friday. “Most second homes
Municipals ended the week steady along with U.S. Treasuries ahead of one of the more diverse and chunky calendars the summer has seen while supply still simply isn’t keeping up with demand, which should keep municipal yields in a tight range. The total potential volume for next week is estimated at $9.033 billion, up from total
The US is experiencing a “pandemic of the unvaccinated”, the head of the country’s top public health agency warned, as new coronavirus cases have jumped 70 per cent in the past week. More than 33,000 infections were reported across the US on Thursday, Rochelle Walensky, director of the Centers for Disease Control and Prevention, said
Bitcoin (BTC) is witnessing a tough battle between the bulls and the bears near $31,000, which makes it an important level to watch out for. Data from Glassnode shows that the $31,000 to $34,300 zone has seen strong interest from buyers and sellers as 9.93% of the Bitcoin supply has moved in this zone. The
Connecticut Treasurer Shawn Wooden grew up in Hartford’s impoverished North End. “I know how the cycle of poverty helped push people back,” he said. That helped shape his push for his “passion project” for the past legislative session — CT Baby Bonds. The program, which Wooden calls first in the nation, took effect June 30
While Islamic scholars have long wrestled with the question of whether cryptocurrency is halal, what if it’s really fiat that isn’t permissible? Islam has strict rules around finance, and it historically defines currency as commodities with intrinsic value — gold, silver, or salt, among others. Waseem Mamlouk, from the DeFi platform Nimbus, argues that government-issued
In this article CLNE CLOVW GME AMC Pedestrians pass in front of an AMC theater in New York. Scott Mlyn | CNBC The price of AMC Entertainment stock has been cut in half from its peak amid a big rout in meme stocks this month as the reality of bubble-like rallies and failing businesses started
In this article VLO AOUT SQ Jack Dorsey, chief executive officer of Square Inc., second right, tours the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015. Yana Paskova | Bloomberg | Getty Images Check out the companies making headlines after the bell: Square — Shares of
The origins of this manor in Brittany, France, date back a millennium to a time when the property held a defensive fort. Henry II of England was eyeing the region then, hoping to annex it as a possession. The medieval structures were added in stages and remained largely untouched until renovation work was undertaken over
A worker waits to load his truck with debris from the rubble of the Champlain Towers South building, as removal and recovery work continues at the site of the partially collapsed condo building, Wednesday, July 14, 2021, in Surfside, Fla. Lynne Sladky | AP The number of confirmed deaths in the collapse of a condominium
U.S. Treasury Secretary Janet Yellen said the question of whether to nominate Federal Reserve Chair Jerome Powell for a second term is a conversation for her and President Joe Biden, declining to give her opinion in a televised interview. “That’s a discussion I’m going to have with the president,” Yellen said Thursday on CNBC. The
Beijing has snubbed the US by refusing to grant Wendy Sherman, deputy secretary of state, a meeting with her counterpart during a proposed visit to China that would have been the first top-level engagement since acrimonious talks in Alaska. The US halted plans for Sherman to travel to Tianjin after China refused to agree to
Following the bitcoin mining crackdown in China, the Nasdaq-listed firm Bit Digital published a second-quarter bitcoin production and mining operations update and noted the company is moving 14,500 bitcoin miners from China to the United States. Bit Digital says after the Chinese government’s decision to ban bitcoin mining, the company “accelerated” its migration strategy to
In early 2021 Bitcoin and Ether price was the center of attention as each asset seemed to hit a new all-time high every 24-hours and traders called for $100,000 BTC and $5,000 ETH. Fast forward to the present and both assets are still more than 40% down from their all-time highs and the bulls calling
The credit strength of the City and County of Honolulu is likely to outweigh the issues that have plagued Oahu’s 20-mile elevated rail project when the issuer prices $725.4 million in general obligation bonds next week. Though the Honolulu Authority for Rapid Transportation is responsible for repaying the debt through an agreement with Honolulu, the
The DeFi Education Fund (DEF), an organization funded by Uniswap to spearhead lobbying and educational initiatives in support of the decentralized finance sector, has defended its sudden move to liquidate half of its UNI treasury earlier this week. The organization said it needed to convert the funds into stable assets to weather crypto market volatility.
The chairman and CEO of the world’s largest asset manager told CNBC on Wednesday that he worries about a “silent crisis of retirement,” citing global monetary policies that create disincentives for savers. “Unquestionably, as central banks keep rates low, or negative in Europe, the savers are getting slammed,” BlackRock co-founder Larry Fink said on “Squawk
A pint of Oatly brand ice cream is arranged for a photograph in the Brooklyn borough of New York, U.S., on Wednesday, Sept. 16, 2020. Gabby Jones | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Bank of America — Shares of the banking giant fell 3.7% after reporting quarterly
Steeped in history and surrounded by 57 acres of woodlands lies a magnificent estate in New York known as Laurel Hill, one of Long Island’s rarest remaining Gold Coast estates. On the market for $18.5 million, the grand estate celebrating Tudor architecture is in the prestigious North Shore enclave of Mill Neck, New York. It’s
Mansions seen along the coast of Palm Beach, Fla. Getty Images Prices in Florida’s ultra-rich Palm Beach community hit an all-time high in the second quarter, as brokers grappled with a record-low number of mansions to sell. The average price for a single-family home in Palm Beach hit $11.7 million in the second quarter, up
Chicago Public Schools laid out a proposed $9.3 billion fiscal 2022 budget that directs $707 million towards capital and spends down about $1 billion of the district’s $2.6 billion of federal relief to recover from the COVID-19 pandemic. The proposed budget for the fiscal year that began July 1 raises spending by about $900 million
The pace of China’s economic recovery rose modestly in the second quarter after signs of sluggishness in the world’s second-biggest economy stoked expectations of greater policy support. On a quarter-on-quarter basis, China’s gross domestic product expanded 1.3 per cent in the three months to the end of June, up from a 0.4 per cent expansion