Justin Brannan will head the New York City Council Finance Committee, Speaker Adrienne Adams announced. “My charge is to make sure we are spending wisely, safeguarding our city’s financial future, and fortifying the city’s social safety net for New Yorkers who need it most,” Brannan, a hardcore punk rocker before turning to politics, said when
Bitcoin (BTC) may have tanked to six-month lows this week, but under the hood, the network is now verifiably stronger than ever. Data from on-chain monitoring resources including Glassnode and BTC.com confirms that as of Friday, the Bitcoin network difficulty is at a new all-time high. Difficulty passes 26 trillion for the first time The
Crypto Twitter is a powerful place. Not only does the online discussion follow the ups and downs of digital assets, but it can also shape price action. Oftentimes, a spike in Twitter attention can anticipate a dramatic increase in an asset’s price. Yet, in other cases, the order can be reversed, or there may be
Pioneer Woman Ree Drummond is a multi-faceted talent known not just for her hit Food Network television show, but also for her magazine and cookware collection with Walmart. While fans of hers have welcomed Drummond’s signature bright floral patterned products into their kitchens since 2015, they can now incorporate the same look into other rooms
A “Sold” sign stands outside a home following a snow fall in Geneseo, Illinois. Daniel Acker | Bloomberg | Getty Images Closed sales of previously owned homes in December fell 4.6% to a seasonally adjusted, annualized rate of 6.18 million units, according to the National Association of Realtors. Sales were down 7.1% year-over-year. Still, December
WASHINGTON — The Federal Reserve released a long-awaited report examining the potential ramifications of issuing a digital version of the U.S. dollar, saying it would not create one without a clear directive from elected officials. The 40-page report, released Thursday, coincides with a request for feedback from the Fed on the impact of a hypothetical
Spencer Platt | Getty Images IPO investors in a record-breaking issuance rush in 2021 have so far been disappointed by dismal returns, and the outlook for the once-booming market is only getting worse with rising rates and insider selling on the horizon. Last year, the number of U.S. traditional IPOs climbed to the highest levels
In this article CSX NFLX ISRG PPG In this photo illustration the Netflix logo in the App Store seen displayed on a smartphone screen. Rafael Henrique | SOPA Images | LightRocket | Getty Images Check out the companies making headlines in after-hours trading: Netflix — Netflix shares dropped 19% in extended trading after the company’s
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While many observers welcomed the bankruptcy judge’s approval of the Puerto Rico Plan of Adjustment, some warned the current restructuring is not a cure all for the island’s underlying fiscal troubles. Participants say there is a long road to sustainable recovery for the island that is dependent on the local government keeping its spending in
The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated that crypto investors will be treated like those who put money into stocks. Presidential Candidate Looks to Attract Young Voters With Crypto Tax Cuts Yoon
There’s nothing like the view of snow-covered ski runs to whet one’s appetite for an easy-care vacation getaway. This stone and wood-sided residence at the Chalet at the Lodge at Vail 2 takes in south-facing vistas of the Gore Range and the slopes in Vail, Colorado. Set near Vail Ski Resort’s Gondola One and the
There’s a “big risk” of real estate companies filing for insolvency when interest rates rise, according to a partner at consulting firm Kearney. Nils Kuhlwein pointed out that the global financial crisis of 2008 started with a real estate and housing price bubble and mortgage defaults in the United States. “What we are now seeing
Municipals faced another weaker day with benchmark yield curves seeing two to four basis point cuts, underperforming a slightly better U.S. Treasury market, while equities ended in the red. Munis played catch up to the large selloff in Treasuries since Friday, holding municipal to UST ratios steady. The five-year was at 54%, 68% in 10
Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), speaks during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Sept. 14, 2021. Bill Clark | Bloomberg | Getty Images Securities and Exchange Commission Chairman Gary Gensler said Wednesday that the regulator is eyeing tighter disclosure deadlines for hedge
In this article USB PG UNH STT MS SOFI Pampers Diapers, which are manufactured by Procter & Gamble, are displayed in an Associated Supermarket in New York. Ramin Talai | Bloomberg | Getty Images Check out the companies making headlines in midday trading. SoFi – Shares of the mobile financial services company surged more than
Todd Bunton, CFA, Growth & Income Stock Strategist at Zacks Investment Research, discusses a stock that might be worth a closer look by investors: Darden Restaurants (DRI). This restaurant operator offers strong growth and income while trading at a reasonable price. The company delivered a solid beat for fiscal 2016 Q1, driven by solid same-store
Are future prices written in the stars? Meet Maren Altman, presciently named for cryptocurrency, who combines astrology and day trading crypto into a winning blend. In 1973, Princeton University professor Burton Malkiel published his book A Random Walk Down Wall Street, in which he famously states that a “blindfolded monkey throwing darts at a newspaper’s
Municipals outperformed another large selloff in U.S. Treasuries that pushed that market to the highest yields since before the pandemic began while equities also saw massive losses as the markets fully digest an expected March rate hike. Triple-A benchmark yields saw two to four basis point cuts across the curve Tuesday while the 2-, 5-
Fear and volatility remain the theme of the week as Bitcoin (BTC) continues to face stiff resistance near the $42,000 price level and stock markets were also hard hit on Jan. 18. Investor fear over this year’s proposed rate hikes continue to apply bearish pressure and at the closing bell the DOW was down 530
During the first half of next year, New York City will welcome a new consumer-facing listing portal, called CitySnap. Piloted by the Real Estate Board of New York (REBNY), CitySnap brings a long-awaited challenge to the ongoing dominance of StreetEasy. How it will fare remains to be seen, but it is extremely well-funded and many
Potential home buyers walk past an ‘Open House’ sign displayed in the front yard of a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage hit 3.7% Tuesday morning, according to Mortgage News Daily. That is the highest since early April 2020
U.S. District Court Judge Laura Taylor Swain approved the Plan of Adjustment for Puerto Rico’s central government bonds and obligations Tuesday afternoon, setting the stage for the commonwealth to exit bankruptcy after more than four years of intense negotiations over its massive debts. The action sets the restructuring terms for about $33 billion of debts
In this article GS People walk along Wall Street in the rain on July 08, 2021 in New York City. Spencer Platt | Getty Images Wall Street firms are playing catch up with employee compensation, boosting pay in the second year of a deal-making and trading boom. That’s what Goldman Sachs CEO David Solomon conceded
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