A “working group” made up of city, state, and labor officials tasked by Chicago Mayor Brandon Johnson with finding long-term funding and structural fixes to pension funding strains held its first meeting this week with a fall legislative veto session the target for initial action. The group has taken shape in recent weeks after being
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The Bank of England has stepped up its fight against persistent inflation with a surprise half-point rise in interest rates to 5 per cent, the highest level since 2008. Voting seven to two in favour of the larger-than-expected increase, the central bank’s Monetary Policy Committee said it was responding to “material news” in recent economic
A sign is posted in front of a home for sale on June 09, 2023 in San Francisco, California. Justin Sullivan | Getty Images Sales of previously owned homes were essentially flat in May compared with April, according to the National Association of Realtors. They rose 0.2% to a seasonally adjusted, annualized pace of 4.30
Cook County expects to end the current fiscal year with a surplus providing some cushion as it looks to erase an $85.6 million gap looming in the next budget as rising salary and pension expenses, healthcare, and a state change on personal property replacement tax distributions weigh on the county’s fiscal landscape. The gap next
Diamond rings and bracelets on display in a show window in Antwerp, Belgium. (Photo by Yuriko Nakao/Getty Images) Yuriko Nakao | Getty Images News | Getty Images “Diamonds are a girl’s best friend,” as the old song goes. But they’re not an investor’s favorite currently, with the precious gems losing some significant value over the
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A team of researchers from the Bitcoin Policy Institute, a nonprofit think tank, have roundly rejected the conclusions reached in a 2022 paper claiming that Bitcoin has an intrinsic scaling problem that will lead to limited adoption in the future. According to the Bitcoin Policy Institute’s researchers, the original paper, dubbed “Bitcoin’s Limited Adoption Problem,”
Woodstock Ranch in Santa Ynez, California, is a private equestrian community offering peaceful country living within some 2,400 acres. Old-growth oak trees dot hillsides green from the winter rains. Spring brings bright patches of wildflowers. Cattle meander lazily in the summer sun. For some homeowners, whose parcels range from about 20 to 60 acres, fencing
Chicago deputy Chief Financial Officer Jack Brofman will join the University of Chicago’s finance team next month. Brofman will start at the university July 17 as executive director of global treasury operations reporting to Jee He Kim, associate vice president for finance. “He will play a critical role in all treasury-related decisions of the university,”
UK inflation remained stuck at 8.7 per cent in May, higher than expectations of a drop to 8.4 per cent, marking the fourth month in a row that price rises have exceeded forecasts. With the cost of a broad range of goods and services rising sharply, the figures will reinforce expectations of multiple interest rate
Among the more memorable displays at Bitcoin 2023 is a real-life toilet with the logos of various non-Bitcoin cryptocurrencies. It’s an ad for a booth selling “buttwipes” that are “moistened with the tears of no-coiners.” The marketing message is clear: Bitcoin is the real thing — everything else is a shitcoin that belongs in the
A real estate agent shows a prospective buyer a home as he shops for a house in Coral Gables, Florida. Joe Raedle | Getty Images The average rate on the most popular mortgage, the 30-year fixed, fell for the third straight week, but demand for mortgages didn’t move much. Total mortgage application volume increased 0.5%
In this article AMZN Follow your favorite stocksCREATE FREE ACCOUNT When Amazon first announced plans for a second corporate headquarters in 2017, it set off an epic bidding war. Virginia beat 237 competitors to win the project, and when it finally opened last week in the Crystal City section of Arlington, Virginia Gov. Glenn Youngkin
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Municipals showed some strength Tuesday, U.S. Treasury yields fell and equities ended down. Triple-A scales bumped up to five basis points, depending on the scale, while UST yields fell three to five basis points. The two-year muni-to-Treasury ratio Tuesday was at 62%, the three-year at 65%, the five-year at 66%, the 10-year at 68% and
On June 20, cryptocurrency exchange Binance announced that it had commenced operating nodes on the Bitcoin Lightning Network as a crucial step towards integrating it for deposits and withdrawals. In the tweet, Binance acknowledged users who noticed their new Lightning nodes and confirmed their presence. However, Binance highlighted that additional technical work must be completed
In this article RIVN GS CAR XOM NKE DICE BABA Follow your favorite stocksCREATE FREE ACCOUNT Signage outside Intel headquarters in Santa Clara, California, on Monday, Jan. 30, 2023. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Goldman Sachs — Shares declined 2.2% in midday trading.
Holders of restructured bonds of the Clare Oaks senior living community in Illinois are giving the facility some breathing room and funds to support capital needs under a forbearance agreement that staves off any punitive actions allowed after a payment default on $50 million of municipal bond debt. Clare Oaks’ previous fiscal struggles resulted in
Hunter Biden has agreed to plead guilty to criminal tax violations and reached a deal with prosecutors over a separate firearm offence, just days after his father Joe Biden held the first rally of his 2024 presidential campaign. According to a court document filed on Tuesday in Delaware federal court, Hunter Biden was charged with
What Bitcoin Did podcaster Peter McCormack admits that he has a “weird relationship with Twitter,” as he believes it “brings out the worst in people.” He’s worked hard to build up more than half a million followers to promote his show but still isn’t sure that Twitter is a “net positive” because it “elevates a