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The judge in the Puerto Rico Electric Power Authority bankruptcy rejected five bondholder arguments Tuesday, bringing approval of the Oversight Board’s plan of adjustment closer. U.S. District Judge Laura Taylor Swain granted the Oversight Board’s motion to dismiss the bond parties’ — bond trustee U.S. Bank N.A., Assured Guaranty, Syncora Guarantee and the now defunct
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alistair Darling, who was Labour chancellor of the exchequer during the financial crisis, has died at the age of 70. A spokesperson for the Darling family announced the death of the veteran Labour politician at
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Municipals rallied hard in secondary trading as issuers benefited in the primary market, which saw another active day, including an upsized $2 billion pricing from New York Transportation Development Corp. and a competitive loan from high-grade Alexandria, Virginia, which saw yields come well through triple-A curves. U.S. Treasuries were firmer and equities ended mixed. Triple-A
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It took about two minutes into a House transportation subcommittee hearing Wednesday before the California high-speed rail project was singled out for criticism. Rep. Troy Nehls, R-Texas, chair of the Railroads, Pipelines and Hazardous Materials Subcommittee, opened the hearing on intercity rail by emphasizing the importance of balancing federal policies and spending with realistic consumer
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In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT JOHANNES EISELE | AFP | Getty Images Several investors mourned the passing of famed investor Charlie Munger, vice chairman of Warren Buffett‘s Berkshire Hathaway, on Tuesday. Known for his quick wit and his role in the firm’s success, Munger’s legacy reverberated throughout the investing world. “Berkshire
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In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett (L), CEO of Berkshire Hathaway, and vice chairman Charlie Munger attend the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019. Johannes Eisele | AFP | Getty Images Charlie Munger’s unique partnership with Warren Buffett, spanning over half a century, helped forge
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Today, Berkshire Hathaway is massive conglomerate worth north of $785 billion with businesses and investments all around the world. This exceeded Charlie Munger’s wildest dreams. “I did not think we’d ever have … so many hundreds of billions in Berkshire,” Munger, the former vice chairman of Berkshire, said in his final interview with CNBC’s Becky
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK mortgage approvals rose more than expected in October, according to official figures published on Wednesday that point to a stabilisation in the property market after a prolonged period of low house sales. Net mortgage
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A close-up of the Workday logo on its headquarters in Pleasanton, California, on March 26, 2018. Smith Collection | Archive Photos | Getty Images Check out the companies making headlines in extended trading. Workday — Stock in the workforce platform provider added more than 6% after third-quarter results surpassed Wall Street estimates. Workday notched adjusted
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Municipal yields dropped up to another seven basis points led by strong secondary trading Tuesday while an $875 million competitive general obligation deal from Illinois took focus in the primary. U.S. Treasuries made gains and equities ended mixed. Municipal triple-A curves saw yields fall four to seven basis points, depending on the curve while USTs
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New York’s Metropolitan Transportation Authority faces potential budget gaps that could widen to nearly $900 million in 2026, according to the Citizens Budget Commission. The nonprofit think tank that analyzes state and city finances warns in a report released Monday that the MTA’s promised cost-saving measures may fall short and revenue from yet-to-be-built casinos could
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