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New Jersey Gov. Phil Murphy’s administration faces a fast-approaching deadline to finalize its borrowing strategy for the next fiscal year to combat expected revenue losses caused by the COVID-19 pandemic. Murphy has proposed a $32.4 billion budget for a shortened nine-month 2021 fiscal year starting Oct. 1 that would include $4 billion of borrowing either
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SoftBank executives have revived discussions about taking the technology group private as the Japanese conglomerate seeks to redefine its strategy after a series of big asset disposals, people with direct knowledge of the matter said.  The talks are driven by frustrations over the persistent discount in SoftBank’s $115bn equity valuation compared with the value of
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New York’s Metropolitan Transportation Authority received its latest hit from Wall Street on Friday when Moody’s Investors Service downgraded its primary transportation revenue bond credit to A3 from A2. The downgrade affects $24.4 billion of transportation revenue bonds. The outlook is negative. The MTA has scheduled the sale of $900 million in transportation revenue green
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Author’s note: This article was released to members on September 3, 2020. Please check latest data before investing. Chemist’s “High-High-Low” Closed-End Fund Report Quantitative screens help to rapidly narrow down attractive candidates from the database of 500+ closed-end funds (CEFs) for further due diligence and investigation. The “High-High-Low” report was inspired by a member of
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When Bernard Looney makes his long-awaited pitch to investors on the future of BP this week, the chief executive is expected to hammer home one message: that BP will be a stronger company when it produces less oil and gas. Since the veteran oil man took the helm in February, he has promoted with unlikely
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SpaceX CEO Elon Musk participates in a postlaunch news conference inside the Press Site auditorium at NASA’s Kennedy Space Center in Florida on May 30, 2020, following the launch of the agency’s SpaceX Demo-2 mission to the International Space Station. NASA/Kim Shiflett JPMorgan Chase thinks it’s found the next hot market for investors:  Taking stakes
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Roberto Machado Noa Check out the companies making headlines midday Friday: Peloton — The exercise equipment maker’s stock jumped 2.5% after the company handily beat earnings expectations for the fourth quarter. The company earned 27 cents per share, compared with the 10 cents expected by analysts polled by Refinitiv. Sales surged 172% during the quarter
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Congressional lawmakers are showing an increased interest in what they think is the poor functioning of the Federal Reserve’s Municipal Liquidity Facility, and some lawmakers believe changes should be made to expand it to more local governments. During a Municipal Analysts Group of New York webinar, Emily Brock, director of the Government Finance Officers Association’s
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At some point in every investor’s life, return of capital becomes as important as return on capital. With the market nearing all-time highs driven by the so-called “Fed put” and massive fiscal stimulus in spite of broadly weak actual and expected earnings – and looking a little rocky, perhaps it’s time to think about risk
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