Texas Attorney General Ken Paxton addresses the Conservative Political Action Conference in February. The Republican on Friday lauded Wells Fargo’s move to leave the Net-Zero Banking Alliance, ending a review by his office that could have led to the bank being banned from underwriting state and local government bonds.Bloomberg News Texas Attorney General Ken Paxton
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Moody’s Ratings does not rate Clyde, Texas, but it highlighted the city’s recent default in a report this week.Bloomberg News A small Texas city struggling with water scarcity disclosed this month that it took out a high-interest, short-term loan to repay companies that insured defaulted certificates of obligation. Clyde, a city of less than 4,000
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Bellarmine University had very weak debt service coverage levels in the last three fiscal years, Moody’s Ratings said.AdobeStock Bellarmine University was downgraded to B1 from Ba3 by Moody’s Ratings, affecting about $60 million of outstanding debt. The outlook is negative. The downgrade on the Kentucky-based school stemmed from declining enrollment, persistent use of reserves, and
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Jeff Greenberg | Universal Images Group | Getty Images Mortgage rates moved markedly higher last week, causing overall mortgage demand to drop. Total application volume fell 0.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the first decline in five weeks. The average contract interest rate for
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The dollar hit a two-year high and global stocks fell on Thursday after the Federal Reserve indicated it would cut interest rates more slowly next year to guard against any renewed threat of inflation. The
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Washington Gov. Jay Inslee introduced a 2025-27 biennium budget proposal Tuesday he says will need to account for billions in increased costs due to inflation.Washington office of the governor Washington Gov. Jay Inslee released a proposed balanced, belt-tightening, biennium budget for 2025-27 in response to $12.6 billion in increased costs to the state due to
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Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK inflation accelerated to 2.6 per cent in November, in line with analysts’ predictions, cementing expectations that the Bank of England will hold rates steady at its meeting on Thursday. The year-on-year rise in the
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Election officials and volunteers process ballots in Utah County seat Provo in 2020. Voters this November approved measures to split the Alpine School District, which has more than $500 million of outstanding bonds, into three systems.Bloomberg News Utah’s largest public school district is preparing to split into three separate entities and divvy up its outstanding
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Mark Baldassare, survey director at the Public Policy Institute of California.PPIC California’s certified election results show the state logged a record election in terms of the number of local measures and amounts approved, according to a report . Voters approved 205 school bond measures, authorizing $45 billion of funding for elementary, high school and community
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