Chicago’s heads into 2023 budget season with a $127.9 million gap to close, offering the market a key fiscal update as the buy-side heads to town for the city’s annual investors’ conference. The shortfall unveiled by Mayor Lori Lightfoot and her finance team Wednesday marks a sharp decline from the last three years. Lightfoot came
Walt Disney defied concerns about a slowdown in the streaming industry by adding 14.4mn new subscribers to its Disney Plus service in the third quarter, pushing its total number of paying streaming customers to 221mn — slightly ahead of Netflix. But Disney reduced its long-term guidance for its total number of Disney Plus subscribers due
In this article SONO DIS Disney store is seen in Times Square, New York City. Nick Pfosi | Reuters Check out the companies making headlines after the bell Wednesday: Walt Disney — Shares of the entertainment company jumped 5.8% after Disney posted better-than-expected Disney+ subscription numbers for the previous quarter. Subscriptions came in at 152.1
When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million. Fractional NFT Market Value Slides From $212 Million to
Two Federal Reserve officials responded to softening inflation data by saying it doesn’t change the U.S. central bank’s path toward even higher interest rates this year and next. Minneapolis Fed President Neel Kashkari, who prior to the pandemic was the central bank’s most dovish policy maker, said Wednesday that he wants the Fed’s benchmark interest
Bitcoin (BTC) has been posting higher lows for the past eight weeks, but during this time, BTC has not been able to flip the $24,000 resistance to support on at least three different opportunities. This is precisely why the $475 million Bitcoin options expiry on Aug. 12 might be a game changer for bulls. Considering
Municipals were little changed on the day Wednesday in light trading with few deals of size pricing while the Investment Company Institute reported the largest inflows into municipal mutual funds since November. While other markets made moves following better-than-expected inflation figures, with U.S. Treasuries ending mixed and equities rallying, triple-A muni yield curves saw a
Donald Trump refused to answer questions at a deposition in a New York state probe into his businesses on Wednesday, invoking his constitutional right against self-incrimination amid deepening legal woes. Trump said in a statement that the “current administration and many prosecutors across the country have lost all moral and ethical bounds of decency”, leaving
The Aug. 10 Consumer Price Index (CPI) report shows year-over-year inflation rose 8.5% in July and while this figure is below economists’ expectations of 8.7%, it is still high. Although inflation remains much higher than the Federal Reserve’s 2% target, the marginal slowdown raises hopes that the rate hikes by the Federal Reserve have started to work.
Following a strong summer collections season, Georgia’s Department of Revenue recently announced revised revenue predictions for the fiscal year 2022 that beat the previous year by more than $6 billion. The department on July 7 reported that in the fiscal year ending June 30, Georgia had collected more than $33 billion in taxes, marking a
In this week’s newsletter, read about Ethereum co-founder Vitalik Buterin’s proposal for stealth nonfungible token (NFT) ownership. Check out how a CryptoPunk will be split into thousands of pieces to enable smaller investors to access it, and how the NFT play-to-earn game Axie Infinity plans to double down on South Korea despite regulatory hurdles. In
With the Atlantic coastline, a river and islands, Norwalk, Connecticut, has much to offer in terms of natural beauty. There are also Greek, Scottish and oyster festivals; lighthouses, museums and an aquarium. Its history runs deep. This renovated residence in the Shorehaven area of East Norwalk sits on more than an acre along a quiet
The Dallas City Council on Wednesday put a measure on the Nov. 8 ballot that would allow for the planning, financing, and construction of a replacement of its convention center, partly financed by an increase in the hotel occupancy tax. The measure, which passed the council unanimously, will let voters decide on raising the city’s
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Guam Gov. Lourdes Leon Guerrero told the legislature that the territory’s finances are improving. She said her government anticipates general fund revenues will rise $50 million in fiscal year 2023, which starts Oct. 1, compared to the current fiscal year. Leon Guerrero estimates general fund revenues totalled $700.2 million in fiscal 2019, $747.2 million in
Liz Truss on Wednesday vowed to do “all that I can” to help households struggling with the cost of living crisis, in a change of tone that her Tory leadership rival Rishi Sunak described as a “major U-turn on the biggest issue facing the country”. The foreign secretary has said she favours tax cuts over
Britain’s electricity generators will face pressure from ministers to invest their “extraordinary profits” in new green energy projects, rather than paying out the windfall to shareholders. Some have made huge profits from surging electricity prices that have risen in line with the soaring cost of gas, even if the power they produce comes from renewables
Most of us agree that home ownership is the best opportunity to build wealth for most Americans. But there are situations when renting makes more sense. “When you pay rent, you are paying someone else’s mortgage,” says Brian Rugg, Chief Credit Officer at loanDepot, the Lake Forest, California-based nonbank holding company which sells mortgage and
Federal prosecutors have charged an Iranian national with plotting to assassinate John Bolton, Donald Trump’s former national security adviser, on US soil. The US Department of Justice said it believed 45-year-old Shahram Poursafi, a member of Iran’s elite Revolutionary Guards who also goes by the name Mehdi Rezayi, had attempted to arrange a “murder for
Bitcoin (BTC) price continues to battle at the $24,000 resistance and the price rejected there on Aug. 10, but the rejection was not enough to knock the price out of the 52-day-long ascending channel. The channel has a $22,500 support and this bullish formation suggests that BTC price will eventually hit the $29,000 level by