An Oklahoma judge recently made a significant decision by issuing a permanent injunction against the enforcement of a state law that targeted financial firms for divestment purposes. The Energy Discrimination Elimination Act, which led to four investment banks being banned from underwriting municipal bonds, faced opposition due to its vague nature and violation of Oklahoma’s
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Recently, Elliott Management took a noteworthy stake in the popular coffee chain Starbucks. This move signifies the hedge fund’s interest in improving the company’s share price and overall performance. The news of this investment caused Starbucks shares to rise by 5%, indicating market optimism about potential changes within the company. Activist Approach Elliott Management is
An unprecedented IT outage on Friday caused major disruptions in global operations, affecting several airlines and resulting in halted flights, delays, and service disruptions. The outage was linked to a technical update by cybersecurity giant CrowdStrike, leaving organizations like Microsoft scrambling to restore apps and services. Flight update monitors at airports around the world displayed
The recent poll conducted in California reveals the high importance that voters in the state place on environmental policy, with many indicating that it could potentially influence their choice for president. Most voters are in favor of a $10 billion bond measure that would fund flood control and climate resiliency projects. Additionally, a majority of
The capacity of state transportation departments has been identified as a significant factor contributing to the high infrastructure costs in the United States. According to a recent study presented at the Brookings Municipal Finance Conference, the shrinking workforce within state DOTs over the past decade has led to outsourcing and the hiring of expensive consultants.
The recent success of the Dormitory Authority of the State of New York (DASNY) in selling $1.2 billion of revenue bonds is a testament to the robust demand for highly rated state bonds in a calm market environment. According to DASNY spokesperson Jeffrey Gordon, last week’s bond sale was a success due to the favorable
The U.S. dollar has been experiencing some fluctuations in response to economic data releases and geopolitical events. Recent labor and manufacturing data have added to the uncertainty surrounding when the Federal Reserve might start cutting rates. This uncertainty has led to investors turning to the dollar as a safe-haven asset, especially as tensions between the
In recent days, the price of Bitcoin has experienced some turbulence as the rebound in crypto markets seems to have lost its momentum. The focus has been on the distributions from the defunct exchange Mt. Gox and the U.S. regulatory outlook. This has led to a 0.9% decrease in the price of Bitcoin, bringing it
Single-party dominance in a state has shown to have an impact on local government savings and bond yields in the secondary municipal bond market. The recent study presented at the annual Brookings Municipal Finance conference sheds light on the implications of state trifectas on municipal bond pricing. The research conducted by George Washington University professors
The debate over strategies and long-term fiscal responsibility regarding pension investments in funds that favor environmental, social, and governance factors continues to be a hot topic among red and blue state treasurers. While some argue that ESG is a key strategy to determine the long-term sustainability of a company, others believe that it may invite