Month: January 2020

New York Gov. Andrew Cuomo is seeking state dollars to assist the cash-strapped Rochester City School District. Cuomo’s $178 billion budget proposal would include funding to appoint a state monitor to oversee the finances of the fiscally struggling public school system, which is grappling with an estimated $40 million deficit. The district’s budget woes triggered
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Preferred stocks remain strong contenders for allocations within income-focused portfolios. In this article, we review how we think about allocating to this asset class across a number of available options. Overall, the active manager advantage and excess yield argues for a continued allocation to closed-end funds. Although the broader sector has gotten expensive, the First
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Two leading manufacturers of crypto mining hardware notified customers their shipments would be delayed at least a week because of the coronavirus quarantine in China. This week MicroBT, Bitmain and Canaan notified customers the application-specific integrated circuits (ASICs) they ordered would not be immediately sent, as the Chinese government extended New Year holiday hours due
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The vast majority of states and localities are prepared for the next recession, bolstering their financial resilience to counter the next downturn, analysts said at a Brookings Institution webinar. During a Wednesday webinar focused on state and local governments’ preparedness for the next recession, Laura Porter, managing director and head of U.S. Public Finance at
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Elon Musk Jim Watson | AFP | Getty Images Tesla CEO Elon Musk doesn’t have a lot of love for Wall Street – a fact he often mentions, including on Wednesday night’s earnings conference call. To begin with, Musk’s company hosts an nontraditional quarterly call with shareholders: After making a short statement about Tesla’s results,
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Tesla Inc CEO Elon Musk attends an opening ceremony for Tesla China-made Model Y program in Shanghai, China, January 7, 2020. Aly Song | Reuters Investors betting against Elon Musk’s electric-auto maker Tesla collectively lost more than $1 billion-plus on Thursday as the company’s stock rocketed higher after its better-than-expected earnings report. Tesla popped 11.4%
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U.S.-regulated security token platform TokenSoft is now providing self-managed accounts for investors. The new service, announced on Thursday, is aimed to provide users of the platform a less technical and more secure way to hold and control their security token investments. Effectively a digital wallet, the product offers automated dividend distributions, and built-in reporting for
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Coinbase Custody and Bison Trails have joined the Proof of Stake Alliance (POSA), a lobbying organization hoping to push regulators to clarify the legal treatment of staking services. Announced Thursday, the lobbying group said having the two companies on board adds weight to its mission of advancing the proof-of-stake (POS) industry. Other members of the
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Bitcoin defended key price support early on Thursday, strengthening the case for another move higher. Having faced rejection above $9,400 multiple times on Wednesday, the top cryptocurrency by market value came under pressure during the Asian trading hours today. Buyers, however, absorbed the selling pressure at $9,188, keeping the former resistance-turned-support intact. Bitcoin had reversed
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A greater share of value is being transferred via stablecoins over the ethereum network than its own native cryptocurrency ether (ETH), according to research conducted by crypto data aggregate Messari. In a recent tweet, research analyst at Messari, Ryan Watkins said stablecoin transfer value had “flipped” ethereum’s native currency, ETH. “This is largely the story
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Wayne County, Michigan, has hired former Flint chief financial officer Hughey Newsome to be its new CFO. Newsome resigned as Flint’s CFO in March. He joined Flint in November 2017 as interim financial officer, appointed by then-Mayor Karen Weaver. In his letter of resignation, Newsome stated “slander” and “politics” as reasons behind his decision to
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