April income tax collections climb in many states, but may be a blip
By Karen Pierog and Lisa Lambert (Reuters) – Personal income tax collections rose by 37 percent in April from a year ago, according to a sample of states, but the improvements may not continue as a...
View ArticleFormer Goldman banker settles SEC ‘pay-to-play’ charges
WASHINGTON/CHICAGO (Reuters) – A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle Securities and Exchange Commission...
View ArticleBank holdings of U.S. municipal bonds hit record high
WASHINGTON, June 6 (Reuters) – The banking sector is becoming a greater force in the U.S. municipal bond market, with Federal Reserve data on Thursday showing that banks’ holdings of municipal bonds...
View ArticleDetroit adviser to return $3 million to pension fund -SEC
WASHINGTON, June 10 (Reuters) – A Detroit-based investment adviser agreed to give back $3.1 million that U.S. regulators allege he stole from a pension fund for the city’s police and firefighters, the...
View ArticleBudgets rebound but states to limit spending increases
WASHINGTON (Reuters) – Most U.S. states are set to end this fiscal year in solid financial shape, but a report on Thursday said an array of threats including federal budget cuts and potential sales tax...
View ArticleDespite budget rebound, U.S. states see fiscal threats
WASHINGTON (Reuters) – Most U.S. states are set to end the current fiscal year in solid financial shape, but their recoveries could be derailed by an array of threats and increasing demands on their...
View ArticleTalk of interest rate rise rocks U.S. municipal bond market
By Lisa Lambert (Reuters) – The possibility of rising interest rates rocked the U.S. municipal bond market on Thursday, with prices plunging in secondary trade, investors selling off the debt, money...
View ArticleMaryland, Virginia, D.C. escaped govt spending cuts
WASHINGTON, June 21 (Reuters) – Automatic federal spending cuts known as sequestration have not spawned unemployment in Virginia, Maryland and Washington, D.C., as many predicted, with data released on...
View ArticleU.S. Treasury stands behind cap on municipal bond exemption
WASHINGTON, June 25 (Reuters) – President Barack Obama’s administration is still pursuing his proposal to limit the tax exemption for interest paid by municipal bonds, with a top U.S. Treasury official...
View ArticleU.S. public pension assets reach record highs -Census
WASHINGTON, June 27 (Reuters) – The assets held by U.S. public pension plans have surpassed their pre-recession peaks to reach record highs, but investment returns for the state and local retirement...
View ArticleSenator Hatch says insurance firms can ease U.S. pension crisis
WASHINGTON (Reuters) – A top Republican senator unveiled legislation on Tuesday that would radically change public pensions by having life insurance companies pay benefits through annuity contracts,...
View ArticleU.S. public pensions weaken, but deterioration slowing
WASHINGTON (Reuters) – The ability of U.S. public pensions to cover their liabilities weakened again, although the deterioration is slowing, two major rating agencies said on Tuesday. Both Fitch...
View ArticleOnline tax would help U.S. economy: conservative economist Laffer
WASHINGTON (Reuters) – Legislation to allow U.S. states to collect sales taxes on purchases made online is garnering support from both sides of the political spectrum, with a leading conservative...
View Article‘No Bailout’: Senators look to pre-empt U.S. aid to Detroit
WASHINGTON, July 25 (Reuters) – Republicans in the U.S. Senate want to make sure the federal government does not become involved in the financial maelstrom hitting Detroit, which filed for the largest...
View ArticleS&P index shows Detroit filing cost market $13.8 bln
WASHINGTON, Aug 8 (Reuters) – Detroit’s filing for the largest municipal bankruptcy in U.S. history has cost the municipal bond market $13.8 billion in the last three weeks, S&P Dow Jones Indices...
View ArticleGrowing number of U.S. lawmakers urge suspension of Egyptian aid
WASHINGTON (Reuters) – A growing bipartisan chorus of U.S. lawmakers said on Sunday that the United States should suspend its $1.5 billion in military and economic aid to Egypt following a violent...
View ArticleMoody’s: Outlook for US states improves after 5 years
Aug 20 (Reuters) – Moody’s Investors Service on Tuesday revised its outlook for U.S. states to stable from negative, marking a significant improvement in its assessment of state finances after cutting...
View ArticleMoody’s: Outlook for U.S. states improves after five years
By Lisa Lambert (Reuters) – Moody’s Investors Service on Tuesday revised its outlook for U.S. states to stable from negative, marking a significant improvement in its assessment of state finances after...
View ArticleU.S. municipal bond market braces for tax overhaul
WASHINGTON (Reuters) – Weeks before lawmakers unveil a proposed overhaul of the U.S. tax code, investors and firms tied to the municipal bond market are trying to head off their worst fear – caps or...
View ArticleU.S. municipal bond funds report 14th week of outflows -Lipper
WASHINGTON, Aug 29 (Reuters) – U.S. municipal bond funds reported net outflows $1.74 billion in the week ended Aug. 28, lower than the $2.14 billion of outflows in the previous week, according to data...
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