Arizona should be able to tackle a growing shortfall given the state’s improved reserves, low debt burden, and budget flexibility, Moody’s Investors Service said this week. The state’s general fund faces projected shortfalls of $835 million in fiscal 2024 and nearly $879 million in fiscal 2025, according to the Joint Legislative Budget Committee’s latest projections,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump will win the New Hampshire Republican primary, the Associated Press projected on Tuesday night, cementing his frontrunner status and raising questions about whether Nikki Haley would end her bid for the White House.
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Maskot | Digitalvision | Getty Images With high mortgage rates and home prices, would-be buyers are understandably looking for deals — even if they have to move to a different city, state or region to find them. Last year, consumers moving interstate tended to pick
Louisiana’s largest and most complex public-private partnership that will replace an aging bridge over Interstate 10 appears back on track after the state’s new administration hammered out a revised agreement with the concessionaire to assuage political opposition. The modified agreement lowers tolls and includes a 15% equity contribution for local infrastructure, new Gov. Jeff Landry
The battle between Donald Trump and Nikki Haley has emerged as a contest of competing foreign policy visions, with voters in New Hampshire set to deliver a verdict on America’s role in the world, including on whether to keep funding Ukraine. The vote in the New England state on Tuesday could represent an early watershed
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is editorial director and a columnist at Le Monde Emmanuel Macron burst on to the European scene in 2017 as the innovative politician who stopped the populist wave then sweeping Britain, America, Italy
Round two of the Republican primary season takes us to New Hampshire this week, and former president Donald Trump is once again the runaway favourite. The pressure at this Tuesday’s caucuses is on the also-rans, particularly Nikki Haley. She finished third in Iowa last week, underperforming polls, and is facing pressure from her backers to
A week ago in Iowa, Ron DeSantis scathingly described how Donald Trump was forcing Republican politicians to “kiss the ring” of the former president in order to earn his praise and avoid public humiliation. But on Sunday afternoon the Florida governor wasted no time in bowing down to Trump, endorsing him as he exited the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US corporate bond markets are “on fire” as companies have sold a record $150bn of debt since the start of this month, the busiest opening to the year for more than three decades. Investment-grade groups
This time last year Murray Auchincloss appeared to have little ambition to ever be chief executive of Britain’s most storied oil company. The Canadian former tax analyst had carved out a highly successful, quiet career inside BP, but as finance chief he was destined to be the numbers guy keeping his more flamboyant boss in
A Congress that just narrowly avoided a government shutdown is getting a fresh wish list from a wide cross section of organizations of issuers, including calls for preserving the tax exemption on municipal bonds. The letter originates from the Public Finance Network, which encompasses twenty-four issuer organizations including the Government Finance Officers Association, the National
The Illinois Supreme Court Friday upheld pension consolidation legislation championed by Gov. JB Pritzker that was challenged in court by more than a dozen suburban and downstate police and firefighter pension funds. The case, Arlington Heights Police Pension Fund et al. v. JB Pritzker et al., had pitted the governor and General Assembly against a
The US House of Representatives passed a short-term spending bill on Thursday that will avert a partial government shutdown and free up lawmakers to focus on contentious negotiations over aid to Ukraine. Passage in the House came after the Senate overwhelmingly approved the bill earlier on Thursday. The bill will now go to President Joe
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Pakistan carried out a pre-dawn attack on suspected militant bases in Iran on Thursday, a retaliatory strike that threatened to escalate tensions after Iran attacked a jihadi group in Pakistan this week. Pakistan’s foreign ministry
Oklahoma Gov. Kevin Stitt is bringing lawmakers back into a special session on a tax cut after his plan to phase out income taxes failed to pass during a session last fall. The session, set to begin Jan. 29, will take up a 0.25% personal income tax reduction. “With record-breaking savings and a strong economic
Rishi Sunak’s election supremo Isaac Levido this week issued a stark warning to Tory MPs, telling them: “Divided parties fail.” But the Conservative rebellion over the government’s Rwanda asylum bill over the last 48 hours is an ominous sign for the prime minister that the warning is not being heeded. Tory MPs may have pulled
Prospective home buyers visit a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The pressures come as President Joe
Republican lawmakers in Arizona pushed back on aspects of Gov. Katie Hobbs’ proposed fiscal 2025 budget, particularly its targeting of rising costs for the state’s universal school voucher program. The spending plan, which was unveiled by the Democratic governor Friday and had its first airing Tuesday before the Republican-controlled legislature’s Joint Appropriations Committee, aims to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. European stocks and bonds fell after European Central Bank president Christine Lagarde signalled that interest rates would come down in summer rather than spring and UK inflation rose unexpectedly for the first time in 10
The California Legislative Analyst’s Office take on the governor’s proposed budget found Gov. Gavin Newsom’s deficit estimates “optimistic,” though it lowered its own deficit estimates by $10 billion to $58 billion. The main difference between Newsom’s budget for fiscal 2024-25 released last week, which projects a $38 billion deficit, and the LAO’s, is the governor
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