New Jersey’s American Dream Mall reported a $245 million loss as costs increases outstripped modest revenue gains in 2022. According to a three-page financial document posted on the Municipal Securities Rulemaking Board’s EMMA bond disclosure website Monday, the mall, developed with help of large public financing package, reported a loss four times bigger than the
The Federal Reserve did not hike interest rates in its meeting on Sep. 20 but hinted that rates could remain higher for longer. At the post-meeting press conference, Fed Chair Jerome Powell cautioned that “the process of getting inflation sustainably down to 2% has a long way to go.” This possible scenario may have triggered
Dustin Jones’ story captures the inability of New York’s public transit agency to serve a significant portion of the public. Trying to take the subway to a meeting of the Center for the Independence of the Disabled, New York, in 2017, Jones, a wheelchair user, couldn’t enter the 5 train, which went directly from his
In this article Follow your favorite stocksCREATE FREE ACCOUNT A shopper for Instacart navigates through the aisles as she shops for a customer. Cyrus McCrimmon | Denver Post | Getty Images The Great IPO Reopening may be on hold: rising rates and lower stocks are an IPO killer. A combination of still-high valuations, a mediocre
Architectural design and spacious gardens give the small central Mexican town of San Miguel de Allende its indisputable charm. The same could be said of a $4 million compound in the historic center near one of the city’s landmark green spaces. Casa Las Palmas at Solano 81, Centro, across from Benito Juarez Park dates to
Receive free UK economy updates We’ll send you a myFT Daily Digest email rounding up the latest UK economy news every morning. UK economic activity has fallen at the fastest pace since January 2021, according to a closely watched survey that suggests the chances of a recession have increased. With service sector activity weakening, the
Bitcoin (BTC) could see “substantial inflows” from China within the next few months, amid a weakening Chinese yuan and one of the country’s biggest capital flights in years. “The familiarity of Bitcoin by Chinese investors in times of a weakening domestic economy could see substantial inflows into Bitcoin over the next few months,” said Markus
Our weekly roundup of news from East Asia curates the industry’s most important developments. JPEX scandal grows to over $166M Last week’s Token2049 conference in Singapore was a life-changing experience for some; for others the event did not meet expectations, but for a select group of individuals, the imminent prospect of being pursued by law
A sign is posted in front of a Broadcom office in San Jose, California, on June 3, 2021. Justin Sullivan | Getty Images News | Getty Images Check out the companies making headlines in midday trading. Cisco Systems, Splunk — Shares of Cisco fell 4.2% Thursday after the company said it is acquiring cybersecurity software
Munis sold off Thursday, joining bond markets and equities in a rout after the Fed signaled that interest rates would be higher for longer. The Federal Open Market Committee held rates steady Wednesday, as expected, but signaled another hike this year. Munis were steady Wednesday but triple-A yields were cut eight to 16 basis points
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Twenty/20 Girls and young women want to be homeowners by the time they’re 30 — a higher priority even than getting married or earning a lot of money. About half, 52%, of young women ages 7 to 21 want a house by 30, the most
Puerto Rico-based investor group Ocean Capital gained at least a partial victory against nine Puerto Rico-based investment funds holding municipal bonds, in a ruling touching on issues of disclosure, investment fund shareholder voting, and Securities and Exchange Commission regulations. The United States District Court for the District of Puerto Rico last week granted Ocean Capital’s
Receive free Rupert Murdoch updates We’ll send you a myFT Daily Digest email rounding up the latest Rupert Murdoch news every morning. Rupert Murdoch is stepping down as chair of Fox and News Corp, marking the end of an era for the powerful media billionaire. Lachlan Murdoch, his elder son, will become sole chair of
An unwitting cryptocurrency holder has reportedly fallen victim to an eye-watering $4.46-million phishing scam. According to data from Etherscan, $4.46 million in Tether (USDT) was withdrawn from a Kraken crypto exchange wallet and eventually sent to an address ending in “ACa7.” Blockchain security firm PeckShield has labeled the address as being owned by a phishing scammer.
While the Bitcoin network has continued to expand over the years, the Bitcoin mining industry has yet to see a comparable increase in carbon footprint — an achievement that a Bloomberg analyst argues “few industries can claim.” This, in turn, could drive the next wave of institutional investment. On Sept. 20, Bloomberg crypto market analyst
Municipals were steady Wednesday as U.S. Treasuries were mixed fiollowing the Fed’s decision to hold interest rates. Equities ended the trading session down. As was expected, the FOMC held rates in a range between 5.25% and 5.50%, but the dot plot in the Summary of Economic Projections showed 12 of 19 members expect another 25-basis-point
If you’re contemplating where to buy a house and settle in, you shouldn’t only take into consideration the city and state. Factors that are significant in their relation to homeowning, such as property taxes and school districts, operate on a smaller, more detailed level than the city-level. Therefore, shopping for homes in terms of ZIP
Receive free UK politics updates We’ll send you a myFT Daily Digest email rounding up the latest UK politics news every morning. Ford has criticised anticipated moves by the UK government to delay its net zero efforts, even as home secretary Suella Braverman attacked previous government commitments as “arbitrary”, “punitive” and “totally unrealistic”. Car manufacturers
Voters will determine if Polk County, Iowa will issue up to $350 million of general obligation bonds to help fund a terminal project at the Des Moines International Airport. The county board of supervisors on Tuesday unanimously approved placing a bond referendum on the Nov. 7 ballot. The Des Moines Airport Authority, which can issue
The U.S. Federal Reserve Building in Washington, D.C. Win Mcnamee | Reuters Today, the Federal Reserve will publish its latest economic forecasts. There will be an intense focus on the Summary of Economic Projections, which is the Fed’s own estimates for GDP growth, the unemployment rate, inflation and the appropriate policy interest rate. The summary will
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