Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023. Adam Jeffery | CNBC Hedge fund manager Bill Ackman is looking to raise $2 billion in the initial public offering of Pershing Square USA, with 40 million shares priced at $50. The firm will also give
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Two years after the sale of nearly $2.9 billion of ratepayer-backed bonds to cover huge costs Oklahoma utilities incurred during a fierce 2021 winter storm, concerns are still being raised about the debt. Last week, a battle ensued over audits utility regulator, the Oklahoma Corporation Commission (OCC), is obliged to provide under a law passed
Kim Olsan joined NewSquare Capital last week as a senior fixed-income portfolio manager. The 30-year industry veteran said she hopes to bring her broker-dealer background and deep knowledge of municipal bonds to the firm. Olsan said she looks forward to “interacting directly with advisors and investors to grow their municipal footprint and expose them to
Valentinrussanov | E+ | Getty Images The Federal Reserve is poised to make the first interest rate cut in years this fall, which can influence mortgage rates to go down. Even small cuts in interest rates could make a meaningful difference in what a homebuyer will pay. To that point, people in the market to
Pavlo Gonchar | Lightrocket | Getty Images The new CEO at Vanguard said Monday that the asset management giant could lean on artificial intelligence as it looks to improve its customer service experience. Vanguard, which built its reputation as a low-cost and investor-friendly brokerage firm, has seen criticism about its customer service in recent years.
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A view of flooded streets after 24 hours of continuous heavy rain over Fort Myers, Florida, United States on June 13, 2024. Anadolu | Anadolu | Getty Images Consumers preparing to renew their homeowners insurance policy may experience some unexpected sticker shock. Between May 2022 and May 2023, home insurance prices rose an average of
New York City will offer $1.2 billion of refunding general obligation bonds on Tuesday, marking its first deal of the fiscal year, just weeks after the New York City Transitional Finance Authority sold $2.11 billion. This test of the market’s appetite for Big Apple debt should be aced, one observer said. “The city is in
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In this article KO FANG WES Follow your favorite stocksCREATE FREE ACCOUNT Coca-Cola beverages are shown on April 30, 2024 in Chicago, Illinois. Scott Olson | Getty Images The U.S. stock market has been volatile as of late, as traders grapple with earnings season and the upcoming elections, but dividend-paying stocks may help investors smooth
A development towers over the Lyric Theater in Miami’s Overtown neighborhood. Greg Iacurci MIAMI — Nicole Crooks stood in the plaza of the historic Lyric Theater, a royal blue hat shielding her from the midday sun that baked Miami. In its heyday, the theater, in the city’s Overtown neighborhood, was an important cultural hub for
In this article MMM Follow your favorite stocksCREATE FREE ACCOUNT People walk past the New York Stock Exchange Wednesday, April 3, 2024 in New York. Peter Morgan | AP Company: Solventum (SOLV) Business: Solventum, formerly known as 3M Health Care, is a global health-care company that was spun out from 3M on April 1. It
The White House is seen in Washington, DC, on July 21, 2024. Samuel Corum | AFP | Getty Images Given the enormity of the political upheaval we’ve seen recently, traders would be right to wonder how the markets and economy will perform in 2025 as a new administration takes over next January. If only there
Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Billionaire investor Bill Ackman is postponing the highly scrutinized listing of Pershing Square’s U.S. closed-end fund, according to a notice on the New York Stock Exchange’s website. The initial public offering of Pershing Square USA Ltd, with the ticker PSUS, has
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S&P Global Ratings revised the outlook on Arizona’s AA issuer rating to positive from stable, citing the state’s “robust” economic growth, as well as its financial management. The move points to an expectation of a one-in-three chance of a rating upgrade over the next two years, according to the rating agency. Arizona Gov. Katie Hobbs
Municipals were little changed ahead of a smaller $6.6 billion new-issue calendar. U.S. Treasuries were firmer and equities rallied. The two-year muni-to-Treasury ratio Friday was at 65%, the three-year at 66%, the five-year at 67%, the 10-year at 67% and the 30-year at 83%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read. ICE
U.S. Vice President Kamala Harris delivers remarks during a campaign event at West Allis Central High School in West Allis, Wisconsin, on July 23, 2024. Kevin Mohatt | Reuters “Building up the middle class will be a defining goal of my presidency,” Vice President Kamala Harris said at a political event in West Allis, Wisconsin, on Tuesday
California Gov. Gavin Newsom issued an executive order instructing state agencies to adopt policies to clear homeless camps on state properties and asked local governments to use the “substantial funding” provided by the state to take similar action. The executive order issued Thursday comes a month after the U.S. Supreme Court’s sweeping Grants Pass decision
Even as home prices hit new highs, experts say there are signs that the housing market is becoming better for buyers in some locations. The median cost of an existing, single-family home in the U.S. was $426,900 in June, a new all-time high, according to the National Association of Realtors. About 3.89 million homes were
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