NEW YORK, June 10 (Reuters) – U.S. money market fund assets decreased by $24.84 billion to $4.668 trillion in the week ended June 9, the Money Fund Report said on Wednesday. Taxable money market fund assets decreased by $24.31 billion to $4.534 trillion, while... More »
WASHINGTON (Reuters) – Georgia Democrats will try to pick their challenger to Republican Senator David Perdue on Tuesday when voters in five U.S. states choose candidates for the White House and Congress as the nation navigates a trio of politically charged cr... More »
WASHINGTON (Reuters) – President Donald Trump may be open to further federal funding to help U.S. states recover funds spent battling the novel coronavirus, White House economic adviser Kevin Hassett said on Sunday as Congress weighs another possible economic ... More »
NEW YORK, April 29 (Reuters) – U.S. money market fund assets increased by $72.69 billion to $4.652 trillion in the week ended April 28, the Money Fund Report said on Wednesday. Taxable money market fund assets increased by $74.71 billion to $4.515 trillion, wh... More »
WASHINGTON (Reuters) – After passing $3 trillion of coronavirus relief in a rare run of bipartisanship, Republicans and Democrats in the U.S. Congress girded for a new battle over federal assistance to states and local governments grappling with the deadly out... More »
WASHINGTON (Reuters) – A U.S. Senate Republican and a Democrat proposed a $500 billion rescue package for state and municipal governments on Monday, as it became increasingly clear that the next coronavirus relief bill will not include money for reeling local ... More »
WASHINGTON (Reuters) – Congressional leaders and U.S. Treasury Secretary Steven Mnuchin will hold bipartisan negotiations on the contents of a new coronavirus response bill with the goal of reaching a deal by early next week, Senate Democratic Leader Chuck Sch... More »
CHICAGO (Reuters) – Investors in the U.S. municipal bond market are growing increasingly worried over the ability of states, cities and other debt issuers to weather the financial fallout of the COVID-19 pandemic caused by the novel coronavirus. Those concerns... More »
BOSTON/WASHINGTON (Reuters) – The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, ... More »
(Reuters) – A massive federal spending bill aimed at deflecting the economic harm caused by the spreading coronavirus does not address the billions of tax dollars U.S. states stand to lose as major parts of the nation have shut down. While the $2.2 trillion bi... More »
BOSTON (Reuters) – A New Jersey municipal money-market fund run by BNY Mellon Corp needed an injection of $89,000 after the market value of the fund came under pressure, the bank disclosed on Tuesday in a U.S. regulatory filing. BNY Mellon said it provided cap... More »
SEOUL (Reuters) – South Korea reported 123 new coronavirus cases, taking the country’s total infections to 4,335, the Yonhap news agency said, citing health authorities. The updated numbers added to the 476 recorded earlier by the Korea Centers for Disease Con... More »
NEW YORK, Feb 19 (Reuters) – U.S. money market fund assets decreased by $3.64 billion to $3.575 trillion in the week ended Feb 18, the Money Fund Report said on Wednesday. Taxable money market fund assets decreased by $2.80 billion to $3.440 trillion, while ta... More »
NEW YORK (Reuters) – A climate research organization will offer access to a risk model that predicts the probability of flooding for homes across the United States, giving the public a look at the data institutional investors use to gauge risk. First Street Fo... More »
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Wednesday proposed changes to its decades-old definition of a professional investor in order to allow more Americans to buy shares in private companies. The agency hopes the changes will boo... More »
BEIJING (Reuters) – New bank loans in China fell more than expected to the lowest in 22 months in October, but the drop was likely due to seasonal factors and policymakers are still expected to ramp up support for the cooling economy in coming months. Chinese ... More »
NEW YORK (Reuters) – A Manhattan judge has dismissed Uber Technologies Inc’s lawsuit challenging a New York City law limiting the number of licenses for ride-hailing services, the first such cap by a major American city. In a decision made public on Friday, Ne... More »
DETROIT (Reuters) – Talks for a new four-year labor contract between General Motors Co (GM.N) and its striking workers took a “turn for the worse” on Sunday after the United Auto Workers rejected the largest U.S. automaker’s latest offer but the two sides were... More »
NEW YORK (Reuters) – U.S. money market fund assets fell this week, retreating from their highest level since October 2009, suggesting a pause in investors piling into these low-risk products amid trade and economic worries, a private survey released on Wednesd... More »
(Reuters) – New Jersey unveiled a $120 million plan on Monday to speed up the replacement of old lead pipes in Newark in response to mounting alarm about the toxic metal leaching into the drinking water in the state’s largest city. Newark officials began handi... More »
NEW YORK (Reuters) – U.S. money market funds amassed their highest level of assets since October 2009 as investors shift cash into low-risk products amid worries about a global economic slowdown and trade tensions, a private report released on Wednesday showed... More »
WASHINGTON (Reuters) – The Trump administration on Friday unveiled a proposal that would curb state powers to block pipelines and other energy projects, part of the Trump administration’s effort to boost domestic oil, gas and coal development. The U.S. Environ... More »
(This story has been corrected to fix a typo in final paragraph.) By Luis Valentin Ortiz SAN JUAN (Reuters) – Two of Puerto Rico’s top government officials resigned on Saturday following the publication of a bombshell group chat in which Governor Ricardo Rosse... More »
NEW YORK (Reuters) – Wells Fargo & Co was dismissed as a defendant in a lawsuit brought by the cities of Philadelphia and Baltimore, which accused large banks of conspiring to inflate interest rates for variable-rate demand obligations (VRDO), a type of tax-ex... More »
NEW YORK (Reuters) – U.S. money market fund assets rose for a sixth consecutive week, bringing the total to a fresh nine-plus year peak as investors piled cash into low-risk funds on concerns about global trade tensions, a private report released on Wednesday ... More »
NEW YORK (Reuters) – U.S. money market fund assets rose for a fifth consecutive week, bringing its total to more than a nine-year high as investors pour cash into low-risk funds on concerns about escalating U.S.-China trade tensions, a private report released ... More »
NEW YORK (Reuters) – Investors jumped back in to the U.S. stock market for the first time since mid-April by sending roughly $3.7 billion into mutual funds and exchange-traded funds that hold domestic equities last week, according to data released Wednesday by... More »
(Reuters) – Investors gravitated toward the higher-quality spectrum of the credit markets this week, as U.S.-based investment-grade corporate bond funds attracted about $374.5 million in net cash, their 14th consecutive week of inflows. According to Refinitiv’... More »
WASHINGTON (Reuters) – Amazon.com Inc’s planned second headquarters in northern Virginia cleared a key test on Saturday when local officials approved a proposed financial package worth an estimated $51 million amid a small but vocal opposition. Amazon in Novem... More »
WASHINGTON (Reuters) – Amazon.com Inc’s plan to set up a second headquarters in northern Virginia, after being rebuffed in New York, will face its first test when local officials vote on Saturday on a proposed financial package worth an estimated $51 million. ... More »
CHICAGO (Reuters) – Greetings from Illinois, a state that never tops the rankings of places to retire. We have one of the great American cities, but also polar vortexes and an enormous state budget deficit – and now there is renewed talk about taxing retiremen... More »
NEW YORK (Reuters) – U.S. fund investors returned in force to bonds during the latest week, putting the most cash in debt markets in almost a year, Investment Company Institute (ICI) data showed on Wednesday. Bond mutual funds and exchange-traded funds (ETFs) ... More »
NEW YORK (Reuters) – Barclays economists said on Wednesday they reduced their outlook on U.S. economic growth in the first quarter to an annualized rate of 2.5 percent from an earlier projection of 3.0 percent as a result of the historically long partial feder... More »
WASHINGTON (Reuters) – A partial shutdown of the federal government entered its 18th day on Tuesday as U.S. President Donald Trump prepared to make a nationally televised address to promote construction of his long-promised wall along the border with Mexico. T... More »
WASHINGTON (Reuters) – President Donald Trump would almost certainly face a legal challenge if he makes good on his threat to get funding for a U.S.-Mexico border wall by declaring a national emergency and circumventing Congress’s purse-strings power. Legal sc... More »
WASHINGTON (Reuters) – A partial U.S. government shutdown was widely expected to continue after Congress reconvenes on Thursday, with lawmakers split over President Donald Trump’s demand for $5 billion in taxpayer funding for a proposed Mexican border wall. Th... More »
NEW YORK (Reuters) – U.S. fund investors battered bond markets with the biggest withdrawals in seven weeks and snatched the most cash from foreign stocks since mid-2015 as the Federal Reserve hiked interest rates, Investment Company Institute (ICI) data showed... More »
July 19 (Reuters) – U.S. municipal bond funds reported $1.3 billion of net inflows in the week ended July 18, compared with $651 million in inflows in the previous week, according to data released by Lipper on Thursday. The four-week moving average remained po... More »
NEW YORK (Reuters) – New Jersey Governor Phil Murphy struck a last-minute budget deal on Saturday, ending threats of a government shutdown that had raged for weeks as he struggled to reach an accord with members of his own party. It was the state’s first budge... More »
OKLAHOMA CITY/TULSA, Okla. (Reuters) – High school physics teacher Craig Hoxie filed to run for Oklahoma’s House of Representatives on Friday, a day after the end of a two-week teacher walkout that had pressed lawmakers for school funding. “A week ago, I would... More »
WASHINGTON (Reuters) – A six-month budget truce stitched together by Congress in March could unravel if Republican leaders vying to replace U.S. House of Representatives Speaker Paul Ryan indulge party conservatives who want to renege on critical parts of the ... More »
SACRAMENTO, Calif. (Reuters) – A California technology billionaire said on Thursday that his longtime and perhaps quixotic effort to partition the Golden State into multiple new states could soon be put before voters. Venture capitalist Tim Draper said he had ... More »
(Reuters) – U.S. municipal bond funds reported $36.8 million of net inflows in the week ended March 28, compared with $445.4 million in inflows in the previous week, according to data released by Lipper on Thursday. The four-week moving average remained positi... More »
FILE PHOTO: Former inmate at Eastern State Penitentiary, William Harrison, 75, served 3 separate terms (1959, 1962, 1970) for larceny, forgery, and assault, and revisits his prison cell on the second level of block 14 in Philadelphia, Pennsylvania April 30, 20... More »
A window announcing support for Congressional candidate Rick Saccone is seen on High Street in Waynesburg, Pennsylvania, U.S., February 14, 2018. Picture taken February 14, 2018. REUTERS/Maranie Staab WASHINGTON, Penn (Reuters) – Mark Marran, an operations man... More »
FILE PHOTO: The Office of the Director of National Intelligence is seen in McLean, Virginia, April 24, 2015. REUTERS/Yuri Gripas WASHINGTON (Reuters) – U.S. intelligence and security agencies will meet with senior election officials from all 50 states this wee... More »
SYDNEY (Reuters) – When National Australia Bank launched the country’s first ever “green” mortgage bond last week, it kept its expectations for demand in check with price guidance at a similar level to a non-green bond it was also selling. Global interest in s... More »
NEW YORK (Reuters) – Indiana said on Friday it will require its Medicaid recipients work or do some other form of community engagement, becoming the second state to make this fundamental change to the 50-year-old health insurance program for the poor. The U.S.... More »
WASHINGTON (Reuters) – Kentucky on Friday became the first U.S. state to require that Medicaid recipients work or get jobs training, after gaining federal approval for the fundamental change to the 50-year-old health insurance program for the poor. The Centers... More »
FILE PHOTO: California Governor Jerry Brown attends the International Forum on Electric Vehicle Pilot Cities and Industrial Development in Beijing, China June 6, 2017. REUTERS/Thomas Peter/File Photo SACRAMENTO, Calif. (Reuters) – California Governor Jerry Bro... More »
WASHINGTON (Reuters) – A bipartisan group of U.S. senators met with administration officials on Tuesday to discuss drafting legislation to spend $1 trillion on improving the country’s infrastructure, a goal that President Trump made a priority in the 2016 elec... More »
FILE PHOTO: Sen. Marco Rubio (R-FL) speaks at a press conference at the Capitol Building in Washington, U.S., September 26, 2017. REUTERS/Aaron P. Bernstein WASHINGTON (Reuters) – President Donald Trump’s drive to win passage of a sweeping Republican tax bill ... More »
FILE PHOTO – Scott Minerd, Global Chief Investment Officer at Guggenheim Partners speaks at the 2014 Milken Institute Global Conference in Beverly Hills, California April 28, 2014. REUTERS/Lucy Nicholson NEW YORK (Reuters) – Top executives at asset manager and... More »
FILE PHOTO: U.S. President Donald Trump gestures as he speaks at the White House in Washington, U.S., November 27, 2017. REUTERS/Kevin Lamarque WASHINGTON (Reuters) – President Donald Trump’s weekend remark about a scaled-back tax cut for corporations sparked ... More »
U.S. President Donald Trump and Vice President Mike Pence meet with House Democratic leader Nancy Pelosi, Speaker of the House Paul Ryan, Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer in the Oval Office of the White House in W... More »
NEW YORK (Reuters) – U.S.-based stock ETFs attracted $14.6 billion of inflows in the week ended Wednesday, their 10th consecutive week of inflows and the largest since June, illustrating investors’ appetite for low-cost exposure to record-high stock markets. R... More »
NEW YORK (Reuters) – U.S.-based stock ETFs attracted $14.6 billion of inflows in the week ended Wednesday, their 10th consecutive week of inflows and the largest since June, illustrating investors’ appetite for low-cost exposure to record-high stock markets. R... More »
FILE PHOTO: The crew of the U.S. Coast Guard Cutter Healy, in the midst of their ICESCAPE mission, retrieves supplies in the Arctic Ocean in this July 12, 2011 NASA handout photo. Kathryn Hansen/NASA via REUTERS/File Photo WASHINGTON (Reuters) – Melting Arctic... More »
U.S. President Donald Trump will meet with congressional leaders next week to discuss "end-of-year legislative issues," a White House spokeswoman said on Wednesday. More »
CHICAGO (Reuters) – Illinois, which sold $6 billion of bonds last month to raise money to pay overdue bills, will be back in the U.S. municipal market next week with another $750 million of debt. The deal tops the $12.2 billion of bonds and notes states, citie... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., November 20, 2017. REUTERS/Brendan McDermid NEW YORK (Reuters) – U.S. fund investors pumped millions into bond funds for a 50th straight week, the Investment Company Institute (... More »
FILE PHOTO: A destroyed home is seen from a Marine Corps MV-22 Osprey surveying the aftermath from Hurricane Maria in St. Croix, U.S. Virgin Islands September 21, 2017. REUTERS/Jonathan Drake WASHINGTON (Reuters) – The White House on Friday said it had asked C... More »
FILE PHOTO: Norman Seabrook, the head of New York City’s prison guard union, exits the Manhattan District court house in New York, U.S., July 22, 2016. REUTERS/Eduardo Munoz/File Photo NEW YORK (Reuters) – A U.S. judge on Thursday ordered a mistrial in the cor... More »
(Reuters) – U.S. municipal bond funds reported $417.7 million of net inflows in the week ended Nov. 15, compared with $463 million in inflows in the previous week, according to data released by Lipper on Thursday. The four-week moving average remained positive... More »
A U.S. federal judge on Monday rejected a request to install a former military officer to oversee Puerto Rico's beleaguered electric utility, PREPA, a victory for Governor Ricardo Rossello, whose government opposed the appointment. More »
The U.S. Senate voted Monday to approve a senior Transportation Department nominee and advance another nomination, after Republicans accused Democrats of blocking some nominees to push for funding of a New York area infrastructure project. More »
The California Public Employees’ Retirement System is considering more than doubling its investment in municipal bonds and other fixed-income assets while lowering volatility, according to proposals set for discussion at a workshop on Monday. More »
The U.S. Senate Republican tax bill helped soothe nerves in the municipal bond market on Friday, just over a week after the House of Representatives proposed changes that would decrease its future supply of tax-free debt. More »
U.S. Senate Republicans unveiled a tax plan on Thursday that differed from the House of Representatives' version on several key fronts, including how they treat the corporate tax rate, the tax deduction for state and local taxes, and the estate tax. More »
The U.S. Securities and Exchange Commission has taken the first step in formally establishing an advisory committee to scrutinize the rules of the fixed income market and advise on potential reforms, according to a regulatory filing. More »
U.S. President Donald Trump on Monday declared Obamacare "dead" and "gone," but urged Republicans and Democrats in Congress to craft a short-term fix of healthcare markets under the 7-year-old law that critics say he has effectively sabotaged. More »
The sale of debt by states, cities, schools and other issuers in the U.S. municipal bond market totaled $271.8 billion in the first nine months of 2017, a 16 percent drop from the same period in 2016, according to Thomson Reuters data on Monday. More »
Since the collapse more than two years ago of China's second-biggest loan guarantor, the state-backed Hebei Financing Investment Guarantee Group, creditors including powerful financial institutions have been trying to get billions of dollars of their money bac... More »
Investors throttled up their bond exposure in the latest week, adding the most cash to U.S.-based debt funds since July as momentum for U.S. stock funds stalled, Investment Company Institute (ICI) data showed on Wednesday. More »
New York police and a host of federal agencies are preparing for the annual traffic and security nightmare known as the United Nations General Assembly, featuring a week of speeches by U.S. President Donald Trump and a parade of other dignitaries. More »
Insurers are scrambling to find inspectors in Texas and Florida after fierce hurricanes battered the states one after the other, causing tens of billions of dollars' worth of property damage in less than two weeks. More »
Investors' renewed appetite for risk came back with a vengeance during the last week of August, as equity funds had estimated inflows of $8.19 billion, compared to estimated outflows of $1.81 billion in the previous week, Investment Company Institute (ICI) dat... More »
Longtime municipal finance maven Marilyn Cohen unloaded several million dollars worth of Houston-area utility bonds on Tuesday even though she did not see a high risk to the debt - because a few of her clients were getting nervous. More »
Democrats in the U.S. Congress wield little clout nowadays, but they will likely have plenty of influence on the looming issue of the U.S. debt ceiling and party leaders are considering whether they should try to convert that advantage into bargaining power on... More »
Investors battered U.S.-based stock funds with the largest withdrawals this year as wild trading disrupted the market's summertime calm, Investment Company Institute (ICI) data showed on Wednesday. More »
A U.S. judge on Friday ruled that Illinois was not providing sufficient resources for the care of developmentally disabled residents and ordered the state to come up with a plan to restore services. More »
Illinois fought on Friday against a potential court order it contends could cost the state, which just ended an unprecedented budget impasse, as much as an additional $1 billion annually to care for developmentally disabled people. More »
Connecticut lawmakers narrowly approved a new labor contract with public employees on Monday that is expected to save the state at least $1.2 billion – largely through pension concessions – and could clear the way for lawmakers to agree on a past due budget.... More »
U.S. municipal bond funds reported $323 million of net inflows in the week ended July 26, compared with $298.6 million in inflows in the previous week, accor More »
Two major U.S. health insurance groups on Friday called on Senate Republican leader Mitch McConnell to drop from a healthcare bill a provision proposed by Senator Ted Cruz that allows insurers to offer stripped-down, low-cost healthcare plans. More »
Traffic fills Exeter Street in the Back Bay in Boston, Massachusetts, United States June 13, 2015. Outdoor scenes in Boston show local residents enjoying balmy weather amid lush greenery as the summer solstice approaches on 21 June. Motorists in the United Sta... More »
FILE PHOTO – A crane flies an American flag over a construction site in downtown Los Angeles, California October 29, 2014. The U.S. economy is expanding at a 2.6 percent annualized pace in the second quarter based on the latest data on domestic payrolls and wh... More »
FILE PHOTO: An aerial view shows the skyline and lakefront of Chicago, Illinois, August 14, 2014. REUTERS/Jim Young Illinois’ first budget after two years is filled with partial outlines to address its debt-ridden pension system and unpaid bill backlog — signs... More »
FILE PHOTO: Bruce Rauner speaks to the media in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Illinois ended its historic budget drought on Thursday after the House of Representatives enacted the state’s first complete spending plan since 2015 ... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Illinois’ first full-year budget since 2015 became law on Thu... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Seven U.S. states are still without budgets, nearly a week in... More »
A crane flies an American flag over a construction site in downtown Los Angeles, California October 29, 2014. REUTERS/Mike Blake The U.S. economy is expanding at 2.7 percent annualized pace in the second quarter based on the latest data on vehicle sales, facto... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Even if Illino... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo The fate of a ... More »
Illinois Governor Bruce Rauner announced on Tuesday his veto of a $5 billion income tax rate hike that was the lynchpin of a newly passed bipartisan budget package designed to end the state’s record-setting fiscal impasse, he announced via social media. More »
FILE PHOTO: A ballot is placed into a locked ballot box by a poll worker as people line-up to vote early at the San Diego County Elections Office in San Diego, California, U.S., November 7, 2016. REUTERS/Mike Blake/File Photo Maryland, Delaware and Louisiana o... More »
Illinois’ Democratic-controlled House of Representatives passed big, permanent income-tax rate increases on Sunday with the help of some Republican votes as the cash-strapped state scrambled to piece together a budget and revenue plan to stave off a bond ratin... More »
An Illinois judge on Friday halted implementation of a measure that would have made Chicago the latest U.S. city to tax sweetened drinks, saying a lawsuit filed by retailers to block it must run its course. More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 2, 2017. REUTERS/Brendan McDermid U.S. stock fund flows rebounded in the latest week, providing succor to markets after multibillion dollar withdrawals in the prior week, d... More »
