Lawmakers in the Illinois General Assembly have proposed legislation to abolish the multiple service boards operating public transit in the Chicago area and consolidate them under a new Metropolitan Mobility Authority. At present, the Regional Transportation Authority oversees finances, funding and planning for the Chicago Transit Authority, which provides local rail and bus service in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel has carried out night air strikes on Rafah and said a ceasefire proposal accepted by Hamas fell “far from Israel’s necessary requirement”, as international mediators and officials struggled to continue talks to halt fighting
Although New York Federal Reserve Bank President John Williams didn’t shed much light on the timing of federal interest rate cuts during a fireside chat at Milken Institute’s Global conference in Beverly Hills on Monday, he did offer some insight into his thinking. Amid stubbornly high inflation, the Federal Reserve reiterated in its post-meeting statement
Illinois will issue $1.8 billion of general obligation bonds — $250 million taxable Series 2024A and $1.55 billion tax-exempt Series 2024B — to fund accelerated pension benefit payments and capital expenditures through the Rebuild Illinois program.  The fixed-rate bonds are expected to price this week. Jefferies, Siebert Williams Shank and Barclays are joint senior managers
Squishmallows of Waren Buffett and Charlie Munger display at the Berkshire Hathaway Annual Shareholders Meeting at Omaha, Nevada on May 3, 2024. Sarah Min | CNBC OMAHA, Nebraska — Warren Buffett’s annual shopping event, the pregame to Berkshire Hathaway‘s annual meeting, is wowing shareholders flocking to Omaha this weekend. With over 20,000 square feet of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. I have spent a fair amount of time dunking on Elon Musk over the years. Among the things I have poured scorn upon are his puerile sense of humour, his asinine “lib-trolling”, his naive war
Hawaii Gov. Josh Green failed to convince lawmakers to consider legislation that would have allowed struggling Hawaii Electric Co. to issue bonds backed by a rate increase. Senate Bill 2922, introduced by Senate Commerce and Consumer Protection Chair Jarrett Keohokalole, would have allowed HECO to issue up to $2.5 billion in low-interest bonds, if it
Oklahoma’s list of investment banks determined to be “boycotting” the fossil fuel industry expanded with the addition of Barclays, making it ineligible for state and local government contracts, State Treasurer Todd Russ announced Friday.  Barclays joins Bank of America, JP Morgan, and Wells Fargo, which were placed on the list last year under the state’s
President Biden’s newly revised environmental permitting rules to implement his climate and environmental-justice agenda faced swift pushback from construction groups and Republicans who say it will delay critical infrastructure and drive up costs. The administration Tuesday released a final rule to revise the National Environmental Policy Act, or NEPA, the rule that governs how it