With more companies allowing their employees to work from home during the Covid pandemic, young urbanites have been moving into suburban and rural areas that give their pets more space to roam, said Petco CEO Ron Coughlin in a “Squawk on the Street” interview. “There are people, millennials, who couldn’t have pets in apartments, who
Victor Washington fell behind on his rent during the pandemic. He and his landlord, Andrea Sorum, joined forces to keep him in his home. Source: Andrea Sorum At one point in the pandemic, Victor Washington was nearly four months behind on his rent. The problems began soon after he moved into the one-bedroom condo in
The Municipal Securities Rulemaking Board is proposing a new rule that would require solicitor municipal advisors to disclose more information in writing, streamlining existing guidance in the process. The MSRB requested comment for draft MSRB Rule G-46 Wednesday evening. The rule would codify interpretive guidance from 2017 on its MSRB Rule G-17 on fair dealing
Illinois Supreme Court justices posed questions but offered little indication of how they might be leaning during oral arguments about a lawsuit that seeks to halt repayment of $14.3 billion of Illinois general obligation bonds. The court faces two questions in John Tillman v. Gov. J.B. Pritzker et al. One asks it to clarify the
Georgia native Alan Skelton will succeed David Bean as director of research and technical activities at the Governmental Accounting Standards Board April 1. Bean, who has served as the director since 1990, is retiring after 31 years in the position. Bean also has served as deputy chairman of the International Public Sector Accounting Standards Board
Municipal yields rose on the back of U.S. Treasuries as the asset class could no longer ignore the large swings in its taxable counterpart. Triple-A benchmark curves cut yields anywhere from four to 10 basis points. Municipal to UST ratios rose with Thursday’s 10-year at 67% and the 30-year at 72%, according to Refinitiv MMD,
New Jersey’s proposed budget features an odd mix of dynamics that include a pandemic, an election year, massive borrowing, significant federal aid and a major pension liability problem. Gov. Phil Murphy’s $44.8 billion fiscal 2022 plan before lawmakers would raise spending by more than 10% and earmark about $6.4 billion toward pensions in what would
Los Angeles plans to use its share of federal transportation stimulus funds to more rapidly restore full bus service and to fund rail projects that took a hit as sales tax revenues declined amid the pandemic. “With this pandemic wreaking havoc on our local budgets, these relief funds will go a long way toward helping
There is a strong possibility a highly anticipated major infrastructure bill won’t have any Republican support, a reality that would limit municipal bond provisions that advocates have been pushing for years. Infrastructure advocates have called for a comprehensive bill by this summer, but some say that bill is likely to go through budget reconciliation —
Build America Mutual opened an office in Austin, Texas, to expand its presence in the state with its largest transaction volume. Greg Pacifico, managing vice president and head of Texas public finance, moved from New York to head the new office, while Vlad Puchek, an assistant vice president in the surveillance group, relocated from New
The delay in the federal tax filing deadline until May 17 is expected to force many states to enact similar delays. And it will also complicate their budgeting process for the new fiscal year that begins July 1 in 46 of the states. Lucy Dadayan, a senior research associate for the State and Local Finance
The municipal bond market was quiet Friday after a volatile week that saw 10-year U.S. Treasuries hit one-year highs and hold there following comments by the Fed that it apparently dismissed. Federal Reserve Board Chairman Jerome Powell press conference didn’t necessarily change the market’s opinion that the Fed will need to move before 2023 and
Former US president Donald Trump will soon return to social media with “his own platform”, one of his senior advisers has said, following the permanent ban on his account by Twitter. Jason Miller, Trump’s senior adviser, told Fox News that Trump would be “returning to social media in probably about two or three months here,
The writer is a fellow at the American Enterprise Institute, a think-tank Until recently, most generals and admirals retired to a quiet life. But that is changing as the Davos world of mostly frictionless global business is replaced by a new reality in which companies can be caught in the crossfire of geopolitical confrontation. Executives
Once every generation or so, America’s social contract changes. After half a century in which capital has been in the driving seat, Joe Biden has a chance to tilt the advantage back to labour. Such an opportunity would have been unthinkable a year ago. The US left can thank the pandemic for this change in
When Turkey raised interest rates more than market expectations last week, Naci Agbal was cheered by investors who viewed the move as more evidence that the central bank governor was willing and able to pursue a conventional monetary policy. Two days later, he was out of a job — the third governor President Recep Tayyip
Airbnb is using seemingly independent groups of hosts on the platform to lobby policymakers and help it fend off threats to its business model from tighter regulation. The accommodation-booking platform has more than 400 “home-sharing clubs”, groups of owners who use Airbnb to rent out rooms. Airbnb says the clubs exist to help owners “build
Boris Johnson, British prime minister, will this week urge EU national capitals to veto a suggestion from Brussels that would block AstraZeneca vaccine exports to the UK and push post-Brexit relations to a new low. London has laid claim to millions of doses of the Oxford/AstraZeneca Covid-19 jab produced at a Dutch factory, sparking a
The top US immigration official said authorities were expelling the majority of migrants crossing the southern border, as the Biden administration battled a growing political crisis over the surging number of children entering the US. “The message is quite clear, do not come,” Alejandro Mayorkas told ABC. “The border is closed. The border is secure.
Traders are preparing for a jolt of volatility in the Turkish lira after president Recep Tayyip Erdogan sacked the country’s central bank chief, who was regarded as a key force in pulling the lira from historic lows last year. The removal of Naci Agbal, announced in the early hours of Saturday, shocked many local and