Citigroup was dropped Thursday from an upcoming $3.4 billion Texas bond sale after being recently barred from underwriting government debt in the state. The Texas Natural Gas Securitization Finance Corporation board reconstituted the deal’s underwriting syndicate, removing Citigroup as a co-manager. Last month, the Texas Attorney General’s Office announced it will no longer approve any
China has cut its participation in an internet cable project to link Asia with Europe, as tensions grow between Washington and Beijing over control of the physical infrastructure that transmits the world’s online traffic. Two of China’s biggest telecoms groups, China Telecom and China Mobile, withdrew their combined investment of roughly 20 per cent from
Several Federal Reserve governors and presidents say that more interest rate hikes are needed to curb inflation. “We are not done yet with raising interest rates,” Fed Governor Lisa Cook said. “We need to raise rates aggressively to put a ceiling on inflation,” Minneapolis Federal Reserve President Neel Kashkari stressed. Fed Officials on Raising Interest
Our weekly roundup of news from East Asia curates the industry’s most important developments. China airdrops 180 million digital yuan to celebrate Lunar New Year According to state-owned media Global Times, Chinese cities airdropped a total of 180 million digital yuan (e-CNY) worth $26.6 million to boost consumption during the Lunar New Year celebrations between
In this article NET YELP MSI PYPL LYFT EXPE Follow your favorite stocksCREATE FREE ACCOUNT A traveler arriving at Los Angeles International Airport looks for ground transportation during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights” in Los Angeles, California, U.S.,
According to data from DefiLlama, Ethereum staking service Rocket Pool reached $1 billion in total value locked (TVL) on Feb. 9. The move comes less than two years after the decentralized finance (DeFi) protocol launched its mainnet on Nov. 9, 2021. Dubbed a liquid staking solution for Ethereum, Rocket Pool allows users to join an
There is a new, ultra-luxurious destination in a resort area considered as close to paradise as it gets. Susurros del Corazón on Mexico’s Punta de Mita is the newest property of Auberge Resorts Collection, a small, family-owned company known in the hospitality industry for developing and operating ultra-luxury inns and resorts across the Americas. The
Median rents in Manhattan hit a new record in January as a strong job market and limited supply of apartments lifted prices. The median rental price rose 15% to $4,097 from the year-earlier month — the highest ever in January, according to a report from Douglas Elliman and Miller Samuel. The average rent in Manhattan
The Municipal Securities Rulemaking Board has filed its proposed Rule G-46 on the duties and standards of conduct of solicitor municipal advisors with the Securities and Exchange Commission, which provides definitions for certain terms, adds disclosures for solicitor MAs to provide to their clients and creates rules prohibiting those solicitors from providing misleading statements. Solicitor
Municipals were weaker in secondary trading, with the largest cuts seen on the short end, while a $1.2 billion deal from the New York City Transitional Finance Authority took focus in the primary. U.S. Treasuries were better, and equities ended in the red. The three-year muni-UST ratio was at 54%, the five-year at 55%, the
Walt Disney chief executive Bob Iger announced plans to cut 7,000 jobs, about 3 per cent of the company’s workforce, as part of a broad restructuring that he said would save $5.5bn over the next few years, revive its creative output and make its streaming business profitable. Investors have been waiting to hear Iger’s strategic
In this week’s newsletter, read about how Yuga Labs settled a lawsuit with one of the creators of a copycat nonfungible token (NFT) collection. Learn how the Bitcoin Ordinals creator fixed the first instance of porn uploaded to the protocol and how YouTuber Coffeezilla tricked MMA fighter Dillon Danis into promoting fake NFTs. In other
choja | E+ | Getty Images The solar technology company Nextracker is expected to price its initial public offering at the high end of its stated $20 to $23 per share range, people with knowledge of the process told CNBC. The order book for Fremont, California-based Nextracker is “well subscribed,” meaning demand will allow the
In this article WYNN LNC CDAY AFRM MGM HOOD MAT DIS Follow your favorite stocksCREATE FREE ACCOUNT Barbie dolls in the Mattel display at the annual Toy Fair in New York. Stan Honda | AFP | Getty Images Check out the companies making headlines in extended trading. Disney — Shares of the entertainment company rose
The United States Federal Reserve Chairman Jerome Powell said on Feb. 7 that the “disinflationary process, the process of getting inflation down,” has started but it is still in its very early stages. He cautioned that strong data would be met with more rate hikes. Though the comments are mixed, they triggered buying in the
The medieval town of Certaldo is a central spot for exploring Italy’s Tuscany region. The hilltop walled city is roughly a 45-minute train ride away from cultural monument-filled Florence and 40 minutes from UNESCO-listed Siena. The surrounding countryside is filled with rolling farmland. A villa now for sale in the outskirts takes in panoramic views
Spencer Platt | Getty Images News | Getty Images New York is the most rent-burdened metro area in the U.S., according to a new report from Moody’s Analytics. A household with the median income in the Big Apple would need to pay nearly 69% of earnings to rent the averaged-priced apartment there, the research division
Infrastructure took center stage during President Joe Biden’s State of the Union address Tuesday night. “We used to be number one in the world in infrastructure, then we fell to thirteenth,” Biden said in his second State of the Union address, his first with a Republican majority in the House. “Now we’re coming back because
Municipals were weaker once more, while U.S. Treasury yields rose out long, and equities ended up. Triple-A benchmark yields were cut up to seven basis points, depending on the scale, pushing the one-year above 2.50%. The last time the one-year was above 2.50% was Jan. 10. The three-year muni-UST ratio was at 53%, the five-year
President Joe Biden has warned that the US will protect itself if China threatens its sovereignty as he used a joint address to Congress to deliver a defiant message to Beijing and defend his economic record in the White House. “I am committed to work with China where it can advance American interests and benefit
Investment management and advisory firm Goehring & Rozencwajg expects gold to hit record highs this year. “I wouldn’t be surprised to see a $3,000 price this year,” said an executive of the firm. “It’s time for people to want to be bullish on gold.” Gold Heading for ‘Record Highs’ This Year Investment firm Goehring &