Getty Images While household debt reached a record $17 trillion in the second quarter of 2021, many American households have felt less financial stress this year thanks to Covid-19-related government policies. That’s according to the federal Financial Stability Oversight Council, which released its annual report for 2021 on Friday. The council was created by legislation
Decentralized finance (DeFi) dominated media headlines throughout 2021 and the sector, along with nonfungible tokens (NFTs), helped to initiate the mass adoption of cryptocurrencies. While high yields on staking and instant profits from flipping jpegs have proven to be very lucrative for investors, it’s important to remember that none of it would have been possible
In approving a revised plan for a $9.5 billion international terminal at John F. Kennedy International Airport, New York Gov. Kathy Hochul and the Port Authority of New York and New Jersey sent a clear message. Pandemic or not, major projects must continue. The board of commissioners of the Port Authority, which owns and operates
(Click here to subscribe to the new Delivering Alpha newsletter.) Engine No. 1 was founded a year ago this month, and since then, has made a splash in the investing world. Most notably, the ESG-oriented investment firm took on Exxon Mobil in a proxy battle and won. It also launched an ETF and published a white paper,
You have to hand it to UBS’ Art Cashin. He loves to play against the crowd. “Cashin the Contrarian” was very much in evidence in my annual look ahead interview with the NYSE floor legend. We met at our usual spot for the past 15 years: Bobby Van’s steakhouse across from the Big Board in
In this article GM X RIVN FDX JBL AFRM Rivian employees stand beside the new all-electric pickup truck by Rivian, the R1T, as it sits at one of its facilities on November 09, 2021 in the Brooklyn borough of New York City. Spencer Platt | Getty Images Check out the companies making headlines in after-hours
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Limping out of 2021 Last week we thought we had hit rock bottom for Chinese exchanges, as Bitmart was on the unfortunate end
New York City has always attracted talent and a hub for progress. And yet, while New York graduates one of the highest numbers of STEM talent each year, the city ranks only sixth in life sciences square footage—behind the Bay Area, Boston and the Research Triangle in the Raleigh/Durham area of North Carolina, among other
Construction workers frame a new home being built by CastleRock Communities in the Sunfield neighborhood of Buda, Texas, U.S., on Wednesday, Nov. 10, 2021. Matthew Busch | Bloomberg | Getty Images Surprisingly strong housing demand, even in the usually slower season for housing, has homebuilders feeling increasingly confident. Builder sentiment in the single-family housing market
The Miami-Dade County Seaport Department won The Bond Buyer’s 20th annual Deal of the Year award for PortMiami’s $1.24 billion seaport revenue refunding bonds. PortMiami is the largest cruise port in the world and a large containerized cargo port. As a result of the COVID-19 pandemic, PortMiami cruise operations were suspended for nearly 16 months.
Inflation concerns and a general sense of trepidation about the future of the global economy continue to put a damper on Bitcoin and altcoin prices and currently the Crypto Fear and Greed index is solidly in the ‘fear’ zone where it has been parked since the beginning of December. Despite the brief bump in prices
In a move to further expand its public finance practice in Atlanta, the law firm of Hunton Andrews Kurth LLP announced that Shaney Lokken has joined the firm as counsel. Lokken is a public finance attorney with 20 years of experience representing issuers, borrowers, underwriters and purchasers. She joins the firm from Murray Barnes &
In this article ROKU CCMP BLMN Simone Baribeau | Bloomberg | Getty Images Check out the companies making headlines in midday trading Wednesday: Medtronic — The medical technology company’s shares declined 6.7% after Medtronic revealed its diabetes business received a warning letter from the Food and Drug Administration on Dec. 9 about the inadequacy of
When Eddy recently opened its third Los Angeles, Calif.-area co-living community, Eddy East Hollywood, the buzz centered on the company providing a cost-effective option for young Angelenos and LA transplants hard-pressed to find affordable apartments. But despite the fact Eddy East Hollywood opened at the start of the 2021-22 academic year, many overlooked a key
In this article COLM CLBK The days of rock-bottom rates are nearly over. The central bank will aggressively unwind last year’s bond buying sooner than originally planned after recent reports on inflation continued to show a sharp rise in prices. While the Federal Reserve said Wednesday that interest rates will stay near zero for now,
Well before the pandemic drove online adoption, the consumer shift toward a digital, personalized banking experience was on an upward trend. For financial institutions looking to capture the millennial and Gen Z demographic, it’s increasingly important to rethink card member acquisition approaches and prioritize automated, hyper-personalized programs. In this Arizent Leaders forum interview with American
U.S. Senator Elizabeth Warren has called on regulators to clamp down on decentralized finance (defi) and stablecoins “before it’s too late.” She said: “Defi is the most dangerous part of the crypto world … it’s where the scammers, the cheats, and the swindlers mix among the part-time investors and first-time crypto traders.” US Senator Urges
Bitcoin (BTC) climbed by over $2,000 on Dec. 15 as markets quickly reacted to news that the United States Federal Reserve would raise interest rates and curtail its bond-buying program starting in 2022. “Kind of what we were thinking” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $49,310 on Bitstamp, its highest since Dec.
When Florida’s Legislature returns on Jan. 1, one of its first items of business will be to look at Gov. Ron DeSantis’ proposed budget of $99.7 billion for fiscal 2022-2023. The governor’s recommended spending plan for fiscal 2022-23 is down 1.8% from the previous fiscal year’s adopted budget of $101.5 billion. This is largely because
A Falcon 9 rocket is displayed outside the Space Exploration Technologies Corp. (SpaceX) headquarters on January 28, 2021 in Hawthorne, California. Patrick T. Fallon | AFP | Getty Images A female former employee of Elon Musk’s SpaceX alleged in an essay published Tuesday that the space company’s workplace is “rife with sexism” and that its
Federal Reserve Chairman Jerome Powell attends the House Financial Services Committee hearing on Capitol Hill in Washington, U.S., September 30, 2021. Al Drago | Reuters The Federal Reserve is expected to announce a dramatic policy shift Wednesday that will clear the way for a first interest rate hike next year. Markets are anticipating the Fed