Michigan’s fiscal 2022 tax surge will result in a $650 million income tax cut, but it will remain in place only for 2023, state officials announced Wednesday. All signs pointed to an income tax cut when state finance officials and economic forecasters discussed the fiscal landscape at the annual February revenue estimating conference but Treasurer
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Puerto Rico Gov. Pedro Pierluisi promised his government would deliver up-to-date annual comprehensive financial reports for Puerto Rico’s central government by the middle of this year. Pierluisi made the promise as part of his annual state of the territory speech to the Puerto Rico legislature Wednesday night. The latest ACFR available is for fiscal 2020,
Municipals and U.S. Treasuries moved in lock step Thursday with both triple-A benchmark yields and UST yields slightly firmer throughout most of the curve. Equities ended up. The two-year muni-UST ratio was at 58%, the three-year at 59%, the five-year at 61%, the 10-year at 64% and the 30-year at 89%, according to Refinitiv MMD’s
Idaho lawmakers resurrected and reworked a property tax relief bill that Gov. Brad Little vetoed earlier this week, saying the original legislation put a transportation bond sale in jeopardy. Little vetoed House Bill 292 because it re-ordered the priority of statutory claims on sales taxes, putting property tax relief ahead of the state’s Transportation Expansion
Europe should reject Washington’s demands to curb trade with Beijing, a senior Chinese diplomat said, warning any country that shredded business ties with his nation would do so “at their own peril”. Fu Cong, China’s ambassador to the EU, claimed the US would “stop at nothing” to disrupt normal relations between the bloc and China,
The UK on Friday unveiled an agreement to join an 11-member Asia-Pacific trade bloc, with British prime minister Rishi Sunak claiming it proved his government was seizing “post-Brexit freedoms”. Talks on Britain becoming a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership were finally wrapped up after two years of haggling over quotas
European stocks and US futures inched higher on Friday ahead of closely watched inflation readings on both sides of the Atlantic, with traders on the alert for the impact on consumer prices of higher interest rates. Europe’s region-wide Stoxx 600 was flat shortly after opening and is on track to finish the quarter up more
Japan is planning to impose export restrictions on 23 types of equipment used to manufacture semiconductors, as the geopolitical tensions between the US and China sharpen, the government said on Friday. The restrictions, which will come into effect in July, will require Japanese companies that feature heavily and critically in the global semiconductor supply chain,
I’m not sure people on my side of the Atlantic fully appreciate quite how much better off the average American is than the average European. A car-wash manager in Alabama can now earn $125,000, about 50 per cent more than the head of cyber security at the UK Treasury even after accounting for different living
During the depths of the global financial crisis, Colm Kelleher was instrumental in keeping Morgan Stanley afloat — an experience the Irish finance veteran will draw on as he oversees the biggest bank takeover since those tumultuous days. “He was on the phone with regulators all the time,” recalled John Mack, Morgan Stanley’s chief executive
Donald Trump was a norm-shattering American president during four tumultuous years in the White House. Now, with a Manhattan grand jury handing down a criminal indictment against him on Thursday evening, Trump and the US have once again hurtled into uncharted — possibly dangerous — territory. The news of the grand jury’s vote upended recent
When he was running for Manhattan district attorney, Alvin Bragg, a son of Harlem and onetime Black student leader, spoke of his dream of “transforming” what is arguably the nation’s premier law enforcement office “to deliver safety and justice for all”. In the event, Bragg will almost certainly be remembered for Donald Trump. A little
When troubles come, they come not single spies but in battalions. Donald Trump’s criminal indictment — the first in history of a former, and possibly future, US president — has a Shakespearean quality to it. This dramatic moment has been long anticipated and cued by Trump himself, who expected it to take place last week.
Donald Trump has been indicted following a years-long investigation by Manhattan prosecutors that has led to the first criminal charges against a former US president in the country’s history, according to his lawyers. “President Trump has been indicted. He did not commit any crime. We will vigorously fight this political prosecution in court,” his lawyers
Massachusetts plans to bring $2.7 billion of taxable business-tax backed special obligation revenue bonds with a social designation, marking the largest environmental, social and governance deal to date in the municipal market. The deal is also one of the larger taxable deals in 2022 in a year that has seen a significant drop in taxable
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Rene Reinsberg, a co-founder of Celo, an open platform that makes financial tools accessible to anyone with a mobile
Los Angeles International Airport received a $50 million grant from the federal infrastructure bill for terminal road improvements, among the largest dispersed from the $1 billion allocated to 85 airports nationally. The grants are the first allotment in a five-year, $5 billion airport terminal grant program funded by the Infrastructure Investment and Jobs Act, Transportation
In this article TSLA XPO WDFC COCO UPST The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 3, 2022. Brendan Mcdermid | Reuters Check out the companies making headlines in midday trading. Upstart — The consumer
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Peter Schiff’s bank closure strengthens Bitcoin case for financial freedom
All of the real, inflation-adjusted U.S. home price appreciation from 1990 to 2021 was due to falling interest rates, at least according to this simple analysis. U.S. mortgage rates may never go lower than they were last year so the multi-decade Great Appreciation of house prices is now over. Decades of Falling Mortgage Rates In