Puerto Rico bankruptcy Judge Laura Taylor Swain set a Feb. 10 deadline for parties to arrive at the terms of a Puerto Rico central government debt deal. In a separate action, she rejected a motion for a court-appointed investigation of mediation participants engaging in insider trading of Puerto Rico bonds. Puerto Rico bankruptcy Judge Laura
Rates will stay low, issuance will soften to end the year but tick back up in 2021, and the municipal market still has room to grow in environmental, social, governance space relative to the global market. Those were the takeaways from an S&P Global Ratings-sponsored Live Market Survey at The Bond Buyer’s California Public Finance
The COVID-19 pandemic led to a shutdown of all non-essential businesses and forced many people to stay at home. Although conditions have eased, the pandemic is not over and restrictions remain in place. Given the uncertainty of the path forward and the unpredictable next steps, not to mention other factors, including an election, that make
South Carolina-owned utility Santee Cooper reported that its revenue and refunding bond deal was oversubscribed by more than five times. The $638.2 million of bonds priced Wednesday, drawing $3.5 billion in orders from investors. South Carolina-owned Santee Cooper saved $134 million on Wednesday’s refunding, in a deal that is part of the utility’s strategy to
European countries are poised to tighten coronavirus crisis restrictions as soaring infection rates stoke alarm across the continent, sending stocks to their lowest level since May. Angela Merkel, Germany’s chancellor, was due to hold talks on Wednesday with premiers of the country’s 16 states about proposed new curbs, while France’s president Emmanuel Macron will give
David Parnes and James Harris two of Los Angeles’ top luxury brokers The Agency Two Top Million Dollar Listing Los Angeles brokers discuss the luxury market. James Harris and David Parnes are long-time cast members of Bravo’s hit reality real estate show. They sell high ticket properties that define Los Angeles’ luxury market. As Principals
Fitch Ratings cut the outlook to negative from stable Wednesday on Chicago’s BBB-minus general obligation bond rating. The action increases the risk that the city will be saddled with a second speculative-grade bond rating. Moody’s Investors Service cut the city to junk five years ago. Fitch Ratings assigned a negative outlook to Chicago bonds Wednesday.Bloomberg
CNBC’s Jim Cramer said he sees positives for investors after steep market declines Wednesday as Wall Street grew further concerned about the coronavirus pandemic. “I recognize the carnage, but I do think the carnage is reversible,” Cramer said Wednesday on “Closing Bell,” after the Dow Jones Industrial Average gave up 943 points, or 3.4%, in
Municipal bond buyers were treated to a cornucopia of new issues as deals from New York and California flooded into the marketplace on Wednesday. The municipal market was steady in the backdrop of a dip in U.S. Treasuries after rising slightly earlier in the day. The New York City Transitional Finance Authority came with a
Here are the stocks making headlines in extended trading: Pinterest — The social media stock soared 30% after reporting 49% revenue growth in the third quarter. The company reported 13 cents adjusted earnings per share and $443 million of revenue. Analysts surveyed by Refinitiv were looking for 3 cents in earnings per share and $383.5
The Transamerica Pyramid looms over the San Francisco skyline. (Photo by Carol M. Highsmith/Buyenlarge/Getty Images) Getty Images San Francisco’s iconic Transamerica Pyramid changed hands for the first time on Wednesday, after Deutsche Finance America and developer Michael Shvo teamed up to purchase the tower and complex for $650 million, the largest commercial transaction in the
New Puerto Rico Oversight Board member Justin Peterson said he expected the next fiscal plan for the island will include the payment of debt service and will define essential services. “I would simply highlight the dysfunctionality of the [board’s] approach to date, which has been to use the fiscal plan and the lack of progress
Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues New York, May 27, 2020. Lucas Jackson | Reuters The stock market is selling off hard on rising virus cases and election uncertainty, and it faces another big test Thursday when
It was mid-April when it all began to sink in, instead of just being something real estate brokers, developers, and investors theorized about. Within a week of America locking down as COVID-19 began sweeping the nation, tens of thousands of New Yorkers fled all five city boroughs in the fastest out-migration since September 11th. Many
Michigan released Detroit’s public school system from active fiscal oversight, a reward for fiscal gains that followed the state’s 2016 bailout that brightensits future case for joining the ranks of municipal borrowers. The Detroit Financial Review Commission in a vote this week granted a waiver to Detroit Public Schools and Detroit Public Schools Community District,
Masa Son instructed WeWork’s president to delay a $3 billion shareholder payout from SoftBank, a new court filing shows. Getty Images In the months after WeWork aborted its IPO plans and ousted its CEO Adam Neumann, many of its employees and shareholders were expecting a $3 billion payout from WeWork’s largest investor — a final
The worst-case revenue scenario California prepared for amid the COVID-19 pandemic has not arrived, at least not yet, according to the state’s legislative analyst. Revenue receipts for the first quarter of the fiscal year came in $8.6 billion higher than anticipated when the state’s revised May budget was released, Gabriel Petek said Tuesday in an
President hopeful Joe Biden plans to invest $20 billion in rural broadband infrastructure. Bloomberg News The coronavirus pandemic could serve as a catalyst for broadband infrastructure as many people work from home to stop the spread of the illness. During The Bond Buyer’s California Public Finance Conference Wednesday afternoon, infrastructure experts said the effects of
The Osbournes: Night Of Terror premieres Friday, October 30 at 9 p.m. ET/PT on The Travel Channel. © 2020, The Travel Channel, L.L.C. All Rights Reserved. In The Osbournes: Night of Terror, a new special airing October 30th at 9:00 pm on the Travel Channel, the entire Osbourne family gets together for a ghost hunt of
An employee of Tupperware Brands Corporation is at work on the production line at the group’s plant in Joue-les-Tours, centre France, on the day of its 40th anniversary. AFP PHOTO / JEAN-FRANCOIS MONIER (Photo credit should read JEAN-FRANCOIS MONIER/AFP/Getty Images) Jean-Francois Monier | AFP | Getty Images Check out the companies making headlines in midday
The great outdoors can be a big selling point for a home getty Turns out, it isn’t all about the stainless steel appliances. One of the many truisms in the real estate world is the saying “kitchens sell houses”, but until now there has been very little information about exactly what it was in a
Gilt-edged North Carolina continues its financing spree this month, bringing its third and largest infrastructure deal to investors looking for safety in high-grade bonds. The state will price $700 million of tax-exempt, limited obligation bonds by negotiation with BofA Securities as the book-runner on Thursday. The $73.5 million, 5.8-mile extension of the C.F. Harvey Parkway
Property data and analytics firm CoreLogic has received multiple potential takeover bids that value the company at north of $80 a share, sources tell CNBC’s David Faber. The multiple parties interested in pursuing a deal with CoreLogic include private equity firms, Faber reported citing sources familiar with the talks. The company has already signed a
Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Wednesday that a lack of coronavirus stimulus is making it hard for investors to buy stocks into a worsening of the United States’ Covid-19 outbreak. “It’s very hard to buy a lot of stocks when you see these numbers,” Cramer said on “Squawk Box,” as
Kevin Amolsch is an investor and a private lender who has participated in more 1,700 transactions. PineFinancialGroup.com getty Did you know you can make money and still go out of business? Profits are important, but not nearly as important as cash flow — positive cash flow. Some businesses sell products and services and then get paid
There are many reasons to commemorate the decade since 2008, but the 10th birthday of Bitcoin is one that’s both surprising and encouraging. Bitcoin’s controversial and volatile nature has a way of obscuring the greater picture in favor of whatever crazy news about it dominate the day’s headlines. This could be why it seems Bitcoin’s
Are you watching the Fed and Treasury pump an extra $7 trillion into the economy and market this year?
Hari Moorthy, Goldman Sachs global head of transaction banking. Source: Goldman Sachs Goldman Sachs wants to help any company in the world become a bank. The firm has just released software that allows clients to embed banking services into their own products as part of a push to break into the $32 billion a year
Dividends and buybacks are bouncing back. At the end of the first quarter, there was tremendous concern that the levels of dividends and buybacks would be cut dramatically. There have been cutbacks, but there’s good news amid the bad. The good and bad news on dividends For lovers of dividends, the end of the first quarter
Take a look at some of the biggest movers in the premarket: Boeing (BA) – Boeing lost $1.39 per share for the third quarter, smaller than the loss of $2.52 anticipated by Wall Street. Revenue was also above estimates. Boeing said it was targeting a workforce of 130,000 by the end of 2021, which is
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