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Joe Biden and Donald Trump Ron Adar | Echoes Wire | Barcroft Media via Getty Images; Mandel Ngan | AFP | Getty Images Goldman Sachs is warning that the upcoming presidential election could see delayed results, and is therefore recommending that clients hedge their market bets through December in anticipation of heightened volatility through November.
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Expectations that Chancellor Rishi Sunak will announce a Stamp Duty holiday later today as part of … [+] his mini-budget are not only high but near cast in concrete. PA Images via Getty Images Expectations that Chancellor Rishi Sunak will announce a Stamp Duty holiday later today as part of his mini-budget are not only
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Warren Buffett. Gerald Miller | CNBC Warren Buffett just announced his annual charitable donations to the five philanthropies he’s chosen to give the vast bulk of his fortune to. This year, the “Oracle of Omaha” is distributing 15.9 million class B shares of Berkshire Hathaway valued at about $2.9 billion. That brings his total philanthropic
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New Jersey bought some time with its three-month stopgap budget, deferring significant expenses that push off challenging decisions for lawmakers until they craft a 2021 spending plan. The $7.6 billion stopgap budget, covers the period from July 1 through Sept. 30, delays nearly $2 billion of scheduled spending into the fiscal year beginning in October
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Technology is changing the municipal bond market in major ways as participants navigate the space amid a global pandemic. The most recent development happened when BondLink, a Boston-based financial technology firm, partnered with ICE Data Services to provide issuers a cloud-based market data dashboard on a real-time basis. Now municipal bond issuers who use BondLink
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International investors bought bonds backed by the crime proceeds of Italy’s most powerful mafia, according to financial and legal documents seen by the Financial Times. In one case, the bonds — backed in part by front companies charged with working for the Calabrian ’Ndrangheta mafia group — were purchased by one of Europe’s largest private
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Chicago is working on two refunding transactions including a second general obligation refinancing that would help plug a $700 million COVID-19-induced budget hole. Chicago counted on about $210 million in expected savings from its nearly $1.5 billion January sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt to help eliminate an $838
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Oklahoma’s June revenue fell nearly 5% below the same month last year, though it still rebounded from May levels, Treasurer Randy McDaniel said. Total receipts in June topped $1.1 billion, which was still below collections from June 2019 by $56.4 million. That was dramatically better than April when receipts were down nearly 32% and it
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As you can see in the following chart, the ProShares VIX Short-Term Futures ETF (VIXY) has taken a tumble over the past few months on a rally in the S&P 500 which has pulled volatility levels lower. It is my view that this momentum is going to carry forward. Specifically, I believe that, over the
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Senate Majority Leader Mitch McConnell, R-Ky., said Monday that additional federal aid to state and local governments is “another category we will be looking at.”Bloomberg News Local government groups said Tuesday they are encouraged by Senate Majority Leader Mitch McConnell’s commitment to enacting another coronavirus rescue package later this month. McConnell told constituents in his
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Private equity firms invest in the equity of private companies, meaning those not publicly traded on an exchange. They deploy a variety of strategies to make these investments. With a leveraged buyout, a private equity firm uses borrowed money to invest in a company; the target company’s cash flow serves as collateral. Venture capital is another
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Last week the number of coronavirus-related disclosures in the primary and secondary market dropped significantly from the week before to just over 200 filings from 1,200, marking the fewest COVID-19 related disclosures since the week of March 22. That data came from a weekly Municipal Securities Rulemaking Board report released Tuesday morning. Analysts had mixed
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CEO of TheHouseBuyinGuys LLC Getty Let’s face it: It’s getting harder to win at the sport of business in 2020. Competition is making it harder to find deals, and your customers are pushing you to lower prices. Covid-19 has scared off potential new clients. Our Nashville-based flipping and construction company has experienced this firsthand. By differentiating
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From the beginning much uncertainty surrounded the coronavirus pandemic. But almost four months after stay-at-home orders started, economists agree on little about the shape of the recovery, the timing, and where things stand right now. While the worst of the predictions failed to materialize — unemployment never hit the high levels expected and most numbers
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The nonprofit sector in New York employs more than 660,000 people and contributes more than $77 billion annually to its economy, city Comptroller Scott Stringer said. That represents 9.4% of city economic output, Stringer said in an analysis. This sector, according to Stringer, was growing before COVID-19 struck, with the number of nonprofit establishments increasing
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