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Changes to Illinois state pension benefits that may be needed to comply with federal Social Security rules carry an estimated $5.6 billion tab through 2045, according to an actuarial study published this week. State employees hired after 2010 get lower pension benefits than those hired before. Pension experts have long warned the Tier 2 benefits
The House Committee on Transportation and Infrastructure has introduced the Securing Growth and Robust Leadership in American Aviation Act, a bipartisan bill that would reauthorize the Federal Aviation Administration’s funding over the next five years, expanding the Airport Improvement Program and including a number of improvements aimed at improving workforce and services of the aviation
Odey Asset Management has lost another key relationship, as French brokerage Exane decided to cut ties with the hedge fund after a Financial Times investigation alleged its founder Crispin Odey had sexually assaulted or harassed 13 women. The hedge fund has told clients it is in “active discussions” with all of its service providers as
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, testifies before the Senate Banking, Housing and Urban Affairs Committee during an oversight hearing on Capitol Hill in Washington, September 15, 2022. Evelyn Hockstein | Reuters The current crypto frenzy is ‘”reminiscent of what we had in the 1920s before the federal securities laws were put
In this article DOCU TGT ADBE GM TSLA BRZE Follow your favorite stocksCREATE FREE ACCOUNT GMC pickup trucks are displayed for sale on a lot at a General Motors dealership on January 05, 2023 in Austin, Texas. Brandon Bell | Getty Images Check out the companies making headlines in midday trading. Braze — Shares of
A Manhattan Beach, California, estate once home to a Hollywood writer-producer as well as two popular sports figures recently sold for $10.5 million. The five-bedroom estate is located in the Hill District of the Southern California coastal city, a small enclave known for its large lots and prestigious houses. The home with French Country flair
damircudic | E+ | Getty Images The Federal Reserve is likely to temporarily pause its aggressive interest rate hikes when it meets next week, experts predict. But consumers may not see any relief. The central bank has raised interest rates 10 times since last year — the fastest pace of tightening since the early 1980s — only
The United States Securities and Exchange Commission (SEC) is seeking ‘alternative service’ from the U.S. District Court in Washington, D.C., to issue a legal summons to Changpeng Zhao, the CEO of cryptocurrency exchange Binance. Zhao and Binance were recently sued by the SEC over alleged unregistered securities operations. Related: SEC sues Coinbase for breaking US securities
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The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph. Ripple has been in a legal battle with the SEC since December 2020. The regulator alleges it was offering unregistered securities via XRP (XRP) since 2013. On June 6 the SEC
Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India. Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own
Preston Hollow Community Capital and Nuveen expect to close next month on a deal giving Nuveen a stake in its smaller rival in the high-yield muni space. The investment featured prominently in a settlement ending PHCC’s four-year-old legal pursuit of Nuveen for using what one judge labeled as “lies” and “threats” to damage its access
Bond lawyer requests for clarifications on Internal Revenue Service rules affecting municipal finance are so far eliciting no answers from the IRS, leading the National Association of Bond Lawyers to send a letter to the agency requesting a response to some issues that date back to 2018. The letter comes from NABL president Jodie Smith of Maynard Nexsen,
Morgan Stanley on Thursday moved to sever ties with Crispin Odey’s Odey Asset Management in the wake of a Financial Times investigation that chronicled how the hedge fund manager evaded sexual assault allegations for decades. The bank has begun the process of terminating its prime broking relationship with Odey, according to people familiar with the
NurPhoto | NurPhoto | Getty Images Check out the companies making headlines in midday trading. GameStop — The meme stock tumbled nearly 18% after the company fired CEO Matthew Furlong and appointed Ryan Cohen as executive chairman, effective immediately. The company didn’t provide a reason for the termination. related investing news Wells Fargo says improving
A stylishly renovated three-bedroom penthouse in Manhattan’s Chelsea neighborhood takes in two iconic views of the city from a pair of terraces. The more than 2,200-square-foot unit has two outdoor spaces, one that has a view of the Empire State Building, and another catty-corner space that takes in lower Manhattan to One World Trade. With
A sign is posted in front of a home for sale in San Francisco, February 20, 2023. Justin Sullivan | Getty Images Even in a housing market that has slowed significantly due to rising mortgage rates, the supply of homes for sale is about half of what it was in 2019. The shortage is hitting
Bitcoin (BTC) abandoned the United States during the 2022 bear market, new research suggests. In a tweet on June 8, on-chain analytics firm Glassnode revealed some surprising conclusions about who is now using Bitcoin. BTC supply moves to Asia The past year has seen some seismic shifts in where Bitcoin is held and traded. In