Puerto Rico Electric Power Authority bondholders objected to the Oversight Board’s proposed plan of adjustment and asked that the discovery process begin immediately. “There is no conceivable benefit to interested parties or the court from forcing all parties to sit on their hands for more than two months before plan-related discovery begins, only then to
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Placer County, California, has been a leader in creating public finance solutions. Much of that, according to public finance professionals and county leaders, can be attributed to one person: Jenine Windeshausen, the county’s long-serving treasurer-tax collector, who is retiring at year-end. “Jenine gained a reputation for bringing creative financial solutions, and innovative entrepreneurial programs and
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The Federal Reserve, over its more than centurylong existence, has emerged as a leading force in the stock market. This stature was bolstered by the central bank’s adoption of two unconventional policy tools in the 2000s – large-scale asset purchases and forward guidance. Large-scale asset purchases refer to the Fed’s emergency buying of government debt
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The UK economy contracted by more than previously estimated in the third quarter and lagged further behind other advanced economies, as households struggled with high inflation. Data published by the Office for National Statistics on Thursday also suggested that consumers are not dipping into their savings as much as forecast, suggesting the UK’s recession could
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The California Department of Financial Protection and Innovation (DFPI) has ordered crypto lending platform MyConstant to cease offering a number of its crypto-related products over alleged state securities law violations. The DFPI stated in a press release on Dec. 21 that it has ordered MyConstant to “desist and refrain” from offering its peer-to-peer loan brokering service
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Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. Applications to refinance a home loan jumped 6% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume, however, was still
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Sen. Pat Toomey, R-Pa., introduced legislation Wednesday that would eliminate more than half of the regional Federal Reserve banks and subject the remaining banks to additional federal rules and restrictions. The bill, titled the Federal Reserve Accountability Act, would reduce the number of regional Federal Reserve banks from 12 to five; require bank presidents to
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UK health secretary Steve Barclay on Wednesday doubled down on the government’s decision not to negotiate on pay with striking NHS staff, as he accused ambulance unions of jeopardising patient safety. Barclay accused the unions of making a “conscious choice to inflict harm on patients” and criticised them for failing to provide sufficient cover of
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According to a new study, out of the estimated 55.3 million cryptocurrency holders that are spread among 33 African countries, three countries — Nigeria, South Africa, and Kenya — account for approximately 36.14 million or nearly two-thirds of this total. In contrast, the study found that Seychelles, which is home to several cryptocurrency exchanges, has
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