On Wednesday the Internal Revenue Service issued a notice of proposed adverse determination to the Port of Port Arthur Navigation District of Jefferson County, Texas, indicating that a 2017 $55 million bond issuance will be considered taxable, though attorneys caution that such situations nearly always resolve without impact to the investors. According to the notice posted on
Several prominent crypto commentators have criticized the new crypto tax reporting rules recently put forth by United States president Joe Biden. On Aug. 25, in an effort to catch crypto users avoiding taxes, the Internal Revenue Services (IRS) proposed brokers follow new rules for selling and trading digital assets. Brokers would use a new form
California has expanded the ability of its local agencies to use progressive design-build contracts for certain infrastructure projects in a bid to control costs and remain on schedule. Gov. Gavin Newsom in July signed into law the latest progressive design-build measure, Senate Bill 146, which allows the Department of Water Resources and the California Department
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In this article JWN Follow your favorite stocksCREATE FREE ACCOUNT Check out the companies making headlines in extended trading on Thursday. Customers walk through a shopping mall along the Magnificent Mile in Chicago, March 15, 2023. Scott Olson | Getty Images Affirm Holdings — The stock added 10.8% after its quarterly results came in better than
Top Stories This Week Tornado Cash co-founders charged with money laundering, sanctions violations United States officials pressed charges against the co-founders of crypto mixer Tornado Cash on Aug. 23. Roman Storm and Roman Semenov were both charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting
According to a story posted in the Wall Street Journal on August 24, several owners of WeWork’s secured debt totaling $1.2 billion are holding what were called “preliminary talks about the company’s restructuring options and indicated that they would support a plan for WeWork to file for chapter 11 bankruptcy.” However, the creditors who include
Municipals were steady Friday ahead of a smaller new-issue calendar, while short-term Treasuries were weaker and equities rallied. The two-year muni-to-Treasury ratio Friday was at 63%, the three-year at 65%, the five-year at 66%, the 10-year at 70% and the 30-year at 91%, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the
Bitcoin (BTC) on-chain activity is at levels last seen before its run to 2021 all-time highs, data shows. In an X (formerly Twitter) post on Aug. 25, Ki Young Ju, CEO of analytics platform CryptoQuant, revealed multiyear lows in Bitcoin velocity. Bitcoin supply stagnates at $26,000 Bitcoin is becoming increasingly static at current price levels
The Puerto Rico Oversight Board reached an agreement Friday with several bondholders of Puerto Rico Electric Power Authority debt in a proposed plan of adjustment that offers significantly more of the original value of outstanding bonds to them than to those who did not agree to the plan. BlackRock Financial Management, Nuveen Asset Management, Franklin
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The circumstances behind the mysterious $16 million withdrawal from the Pepecoin (PEPE) project’s multisig wallet have seemingly been revealed, with the finger being pointed at three ex-team members who went rogue. On Aug. 24, the price of PEPE plunged by roughly 15% amid fears of a potential rug-pull after the community spotted that $16 million
Shoppers walk by a Nordstrom sign at Westfield San Francisco Centre in San Francisco, May 11, 2023. Justin Sullivan | Getty Images Check out the companies making the biggest moves midday: Nordstrom — The department store retailer sank 8.6% even after topping fiscal second-quarter earnings and revenue expectations. Earnings came in 40 cents ahead of
With so many fluctuations in today’s market, securing the right tenant has become crucial—they will be a source of cash flow for your investment and losing one could lead to short-term or long-term losses. This means you’ll want to carry out solid research before presenting any leases. You’ll also want to make sure the terms
A house is for sale in Arlington, Virginia, July 13, 2023. Saul Loeb | AFP | Getty Images Sales of previously owned homes dropped 2.2% in July from June to a seasonally-adjusted, annualized rate of 4.07 million units, according to the National Association of Realtors. Sales were 16.6% lower compared with July of last year.
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The Port Authority of New York and New Jersey will bring affirmations of its AA-minus level ratings to its next bond deal. The authority plans to sell $1.08 billion of bonds, according to a preliminary official statement published Thursday. Ity plans to issue two tranches, Series 242 for $535 million and Series 243 for $545
Bitcoin (BTC) is “much more likely” to stay rangebound until at least Q4, 2023, according to longtime market participant Filbfilb. In an X thread on Aug. 25, the popular analyst and co-founder of trading suite Decentrader told readers to expect flat BTC price action into year end. Filbfilb: BTC price approaching “critical time” Bitcoin may
Municipals saw some weakness in spots Thursday as outflows from muni mutual funds continued. U.S. Treasury yields rose and equities sold off ahead of Fed Chairman Jerome Powell’s Friday Jackson Hole speech. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 65%, the five-year at 67%, the 10-year at 70% and the 30-year
The writer is an FT contributing editor In August at the Jackson Lake Lodge in Grand Teton National Park in Wyoming, the chair of the Federal Reserve usually takes a walk. Someone at the Fed alerts the photographers at the wire services, and the chair steps out on to a terrace, accompanied by two or