Prescott Valley, Arizona-based nonprofit charter school operator Park View School filed for bankruptcy protection July 21 following years of financial mismanagement and a federal enforcement action targeting a fraudulent municipal bond offering. Bond holders have a lien on the school, which listed $9.4 million in liabilities and $9.7 million in assets, according to court documents.
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The U.S. Court of Appeals for the First Circuit ruled Puerto Rico must pay $400 million eminent domain claims in its bankruptcy, despite the Oversight Board’s arguments to the contrary. The ruling will not affect the amount bondholders are legally owed but will affect how much money the Puerto Rico government has to make the
Municipals were weaker on the long end of the curve, largely ignoring the U.S. Treasury rally where yields fell double-digits Thursday, while outflows from municipal bond mutual funds returned. Equities made gains. Triple-A yields were cut up to three basis points while UST saw yields fall 12 to 16 basis points 10-years and in. Muni
Andrey Liscovich was at home in downtown San Francisco when he saw a tweet from the American politician Marco Rubio: “The #Russian invasion of #Ukraine is now underway.” He felt sick. The 37-year-old Ukrainian had spent most of the previous decade working far from his native country, including as chief executive officer of Uber Works,
Mykhailo Poperechnyuk was driving towards the town of Nikopol, in southern Ukraine, earlier this month when he saw a barrage of Russian rockets streaking across the night sky. The missiles were fired from what may be the most impregnable Russian positions along the entire front line: those around the Zaporizhia nuclear power plant just 5km
The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange. The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading. SCB Postpones Acquisition of Thai Crypto Exchange Bitkub The parent company of Siam Commercial Bank, SCB X,
The Howard family has been entwined with British power since before the days of Elizabeth I, so it was little surprise that Lord Greville Howard’s London townhouse was the base for the campaign to install Liz Truss as prime minister. But something was not right at Howard’s Georgian home on Lord North Street, near the
Since May 10, as much as 236,237 Bitcoin (BTC), worth $5.452 billion at the time of writing, has been sold by “large institutions” — mostly as a result of forced selling. A Twitter thread from Arcane Research analyst Vetle Lunde details how and when many institutional Bitcoin holders began selling their stacks. Lunde stated that
China’s middle-class consumers are fanning a new craze as they adapt to tougher economic times: a rush to buy soon-to-expire food and drink at deep discounts. According to public records, 119 businesses specialising in items approaching their expiry dates have been registered within the past 12 months, compared with 92 over the previous decade. Such
EDF is trying to alter a key subsidy contract to avoid missing out on billions of pounds in guaranteed revenue after the Covid-19 pandemic caused further delays to Hinkley Point C, the first new nuclear power station under construction in the UK in almost 30 years. The French utility is in negotiations with the British
The number of people paying for elective surgery and similar treatments in the UK has risen 39 per cent from pre-pandemic levels, driving growth in private healthcare, according to figures released on Friday. Private healthcare providers admitted 198,000 patients in the October to December quarter of 2021, returning to the level hit in the same
The economic crisis in crypto is waning, FTX co-founder and CEO Sam Bankman-Fried thinks. He noted, in an interview on Axios Pro on Thursday, that he is no longer getting “a ton of calls” from distressed businesses, as he was in the first weeks of the so-called crypto winter. Given a positive economic macro-environment, recovery
The crypto hardware wallet industry could be growing at a faster pace than cryptocurrency exchanges, data from several studies suggest. The current bear market has accelerated the development of the cold wallet industry, while many centralized crypto exchanges were scrambling to maintain operations. According to a report by business intelligence firm Vantage Market Research, the revenue
Bitcoin (BTC) briefly broke above $24,000 on July 20, but the excitement lasted less than two hours after the resistance level proved more challenging than expected. A positive is that the $24,280 high represents a 28.5% increase from the July 13 swing low at $18,900. According to Yahoo Finance, on July 19, the Bank of
The owner of the UK’s largest steelworks, Tata Group, has threatened to shut down operations if the government does not agree in the next year to provide £1.5bn of subsidies to help it reduce carbon emissions. Tata Steel UK runs the Port Talbot plant and employs nearly 8,000 people across all its operations. As one
Major Turkish crypto exchange BtcTurk has joined the crypto patent alliance (COPA) to team up with prominent firms in their mission to provide open access to patents and empower the adoption of crypto technologies. COPA aims to abolish patents as it’s perceived as an obstacle to innovations within the sector. The nonprofit favors a more
Coinbase stock (COIN) price has nearly doubled since its June lows with a potential for much more upside this year, according to a mix of technical and fundamental indicators. COIN’s symmetrical triangle reversal COIN has been undergoing a strong bullish reversal after falling by almost 90% from its record high of $368.90 in November 2021.
According to Visual Capitalist, Ghana is now placed second on its list of countries with the highest default risk in 2022. Only four countries, namely, Ukraine 10,856 basis points (bps), Argentina (4,470), El Salvador (3,376), and Ethiopia (3,035) have a credit default swap spread that is higher than Ghana’s at 2,071 bps. El Salvador Has
The Asian Development Bank has cut its growth forecast for China due to concerns over the country’s zero-Covid approach and strict lockdowns, which put even more pressure on the real estate sector. Gross domestic product growth for the world’s second largest economy is expected to be at 4% in 2022, down from an earlier estimate
Cybersecurity specialists have welcomed a new trial by the Australian Competition and Consumer Commission (ACCC) to automatically take down scam websites. The trial saw dozens of scam sites, including crypto scams, knocked offline after more than 300 were reported. The ACCC reported that Australians had lost $113 million in cryptocurrency scams last year. The new trial
Criminals that used cryptocurrency as part of committing a crime are more likely to receive a tougher sentence in Australian courts, a new study has found. The study, titled “Crime and Cryptocurrency in Australian Courts,” published on Monday in the Monash University Law Review, found that the use of cryptocurrency in criminal activity was seen