The New York Metropolitan Transportation Authority Board approved a $19.2 billion budget for 2023 and a four-year financial plan. The budget includes a 5.5% fare increase for next year and envisions a 4% increase in 2025. “I’ve been talking about the financial crisis facing the MTA for many months,” MTA Chair and CEO Janno Lieber said
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West Virginia municipalities will receive fresh federal funds to address dated waste infrastructure networks long overdue for upgrades. The U.S. Department of Agriculture’s Rural Development Program will provide $2.2 million for “18 critical projects across West Virginia,” the state’s two senators said Tuesday in a news release, supporting efforts ranging from upgrades to telecommunications technology
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Cryptocurrencies like Bitcoin (BTC) could potentially find some mutually beneficial interactions with central bank digital currencies (CBDCs), according to one industry executive. While crypto is often associated with financial freedom, the concept of CBDC is frequently seen as the exact opposite. But this doesn’t mean that there cannot be a balance between the two, according
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Puerto Rico Electric Power Authority bondholders objected to the Oversight Board’s proposed plan of adjustment and asked that the discovery process begin immediately. “There is no conceivable benefit to interested parties or the court from forcing all parties to sit on their hands for more than two months before plan-related discovery begins, only then to
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Britain has joined the international criticism of Joe Biden’s massive US package of green subsidies, warning they are protectionist and will hit UK-based makers of electric vehicles, batteries and other renewables. Kemi Badenoch, the UK’s international trade secretary, has written to her US counterpart, Katherine Tai, to protest at the structure of the Biden administration’s
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The Federal Reserve, over its more than centurylong existence, has emerged as a leading force in the stock market. This stature was bolstered by the central bank’s adoption of two unconventional policy tools in the 2000s – large-scale asset purchases and forward guidance. Large-scale asset purchases refer to the Fed’s emergency buying of government debt
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Cryptocurrency prices mostly consolidated on Thursday, ahead of upcoming GDP figures from the United States. Bitcoin remained close to the $17,000 level in today’s session, with the global market cap trading 0.01% lower as of writing. Ethereum was largely unchanged, as prices continued to trade above $1,200. Bitcoin Bitcoin (BTC) continued to consolidate ahead of
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The California Department of Financial Protection and Innovation (DFPI) has ordered crypto lending platform MyConstant to cease offering a number of its crypto-related products over alleged state securities law violations. The DFPI stated in a press release on Dec. 21 that it has ordered MyConstant to “desist and refrain” from offering its peer-to-peer loan brokering service
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