The Puerto Rico Oversight Board will not be forced to turn over documents that may have provided a clearer picture of finances pertinent to the Puerto Rico Electric Power Authority bankruptcy. The U.S. Supreme Court reversed an appeals court decision, rejecting journalist group Centro de Periodismo Investigativo’s (CPI) request for Puerto Rico Oversight Board papers.
Howard Marks, the co-founder of $172bn investment group Oaktree Capital Management, has warned that the boom in private credit will soon be tested as higher interest rates and slower economic growth heap pressure on corporate America. The 77-year-old billionaire told the Financial Times that big asset managers had competed aggressively to lend to the largest
In this article WAL PACW FOXA Follow your favorite stocksCREATE FREE ACCOUNT JD.com has become the latest Chinese tech giant to announced plans for a ChatGPT-style product, joining the hype around the chatbot technology. Qilai Shen | Bloomberg | Getty Images Check out the companies making headlines in premarket trading. News Corporation — Shares gained
Ethereum core developers rolled out patches for Prysm Labs and Teku clients as a response to two Beacon Chain finality issues within a 24-hour period. The Beacon Chain serves as the consensus layer for the Ethereum network. On May 11, Ethereum developers reported that the Beacon Chain was experiencing problems confirming transactions. Although new blocks
In Malibu, California, sand is gold. Where homes are sited―whether sandcastle-close along Broad Beach Road or atop Point Dume cliffs―is all about the correlation to beaches glinting in a sunset’s glow. The main show is the Pacific Ocean and its sonic swells―that serene rhythmic roll homebuyers crave to hear 24/7 and will gladly pay millions
Just a few hundred people of Chinese heritage still live in Washington, D.C.’s Chinatown. Many have been pushed out to cheaper and safer areas. Noah Sheidlower | CNBC Penny and Jack Lee, now married, grew up in the 1960s and 1970s among the thousands of people of Chinese heritage who lived in apartments lining the
Memecoins’ security and dependability as a medium of exchange remain a topic of debate in the cryptosphere. Memecoins are said to be safe and decentralized, but some are concerned about their volatility and lack of oversight. Memecoin proponents claim that because they are decentralized, users have more control over their money and are protected from
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Illinois trimmed its revenue estimates for the current fiscal year and must absorb higher social services expenses next year, leaving less room to maneuver as lawmakers finalize a supplemental spending package and new budget. They’re entering the homestretch of their spring session that’s slated to end May 19 with passage of a fiscal 2024 budget
Top Stories This Week Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange An email sent out to Coinbase customers describing the Pepe the Frog meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community this week. Two hours after the email was sent,
Municipals were weaker in spots to end the week, while U.S. Treasuries and equities saw losses on continued concerns over the debt limit impasse and questions over the Federal Reserve’s next policy moves. Municipals mostly stayed in their own lane throughout the week but UST weakness Friday seeped into the secondary Friday, moving yields higher
Russia’s defence ministry claimed a long-awaited Ukrainian counter-offensive had begun, pointing to intensifying attacks in eastern Ukraine over the past 48 hours. The ministry said on Friday that Ukraine had launched 26 assaults along a 60-mile stretch of the frontline near Bakhmut and the nearby town of Soledar, involving more than a thousand troops and
In this article HOOD TWLO IEP NWSA FSLR Follow your favorite stocksCREATE FREE ACCOUNT Connie Black makes adjustments to the manufacturing line for the series 6 solar panels seen during a tour of a First Solar plant in Walbridge, Ohio, October 6, 2021. Dane Rhys | Reuters Check out the companies making the biggest moves
In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Greg Abel at Berkshire Hathaway’s annual meeting in Los Angeles California. May 1, 2021. Gerard Miller | CNBC To say that Warren Buffett’s successor Greg Abel has big shoes to fill would be an understatement. The vice chairman for non-insurance operations at Berkshire Hathaway recently
Bitcoin (BTC) extended its decline on May 12 but analyst Philip Swift, co-founder of trading suite DecenTrader and creator of data resource LookIntoBitcoin, does not expect a deep correction. He said it was “interesting to note that the long/short ratio has been climbing as price has trended down.” One of the reasons that is keeping
By the middle of the 1980s, television host and media mogul Merv Griffin was making retirement plans from his hit talk show, The Merv Griffin Show, which had been on the air for more than 20 years. The success of his production companies, Merv Griffin Enterprise and Merv Griffin Entertainment—responsible for creating the game shows
In this article TWLO RIVN ABNB PACW Follow your favorite stocksCREATE FREE ACCOUNT People walk along Wall Street outside of the New York Stock Exchange (NYSE) on May 03, 2023 in New York City. Spencer Platt | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our new, international markets
What are leader stocks and why should you watch them? Leader stocks are stocks that have the highest regard in the industry, the ones that have been moving for quite a while. They are stocks that many people think of in a positive way or positive fashion. They are not always stocks that have the
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California Gov. Gavin Newsom said “no” to revenue anticipation notes and a tax increase, but “yes” to climate and mental health bond proposals in the May budget revisions he presented Friday. Newsom stressed emphatically that the state has no plans to issue revenue anticipation notes despite expectations that $49 billion in anticipated revenues won’t come