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A UK-led operation has uncovered a multibillion-dollar money laundering scheme run out of London, Moscow and Dubai that enabled Russian spies and European drug traffickers to evade sanctions using cryptocurrency. The UK’s National Crime Agency said on Wednesday that its “Operation Destabilise” investigation centred on two companies — Smart and TGR — that acted as
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Chicago will go to market Thursday with a refinancing that will help close its 2024 budget gap in the midst of heated negotiations over the 2025 budget.Bloomberg News RBC Capital Markets will price for Chicago $806 million of bonds on Thursday, a refinancing that will help close the city’s fiscal 2024 budget gap.  The city
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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. South Korea’s President Yoon Suk Yeol faced mounting calls for his impeachment on Wednesday after his failed attempt to impose martial law triggered the country’s worst constitutional crisis in decades. Opposition lawmakers called on him
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Brightline won The Bond Buyer’s 23rd annual Deal of the Year award for its $3.2 billion recapitalization that represents a transformative moment in U.S. infrastructure financing.  As the largest private-activity bond issuance and first investment-grade debt for American high-speed rail, this transaction, which also won Deal of the Year in the Innovative Financing category, restructured
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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. South Korea’s conservative president Yoon Suk Yeol has declared martial law, accusing the left-wing bloc that controls the national assembly of North Korean sympathies and plotting rebellion. Yoon, a hardline former chief prosecutor, said in
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<img src=”https://public.flourish.studio/visualisation/20585986/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were firmer to kick off December, as U.S. Treasuries were weaker and equities were mixed late in the session. Muni yields were bumped one to four basis points, depending on the scale, while UST yields rose up to five basis points on the short end, as of 3
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The city of Chester, on the Pennsylvania side of the Commodore Barry bridge (shown). A battle over the Chester Water Authority continues to rage.AdobeStock The Chester Water Authority traces its origins back to 1868, when it was created as a private entity to provide water to Chester, Pennsylvania’s residents.  The Chester Water Service Company, as
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House Appropriations Chair Rep. Tom Cole, R-Okla., said disaster aid may be included in a short-term government funding bill this year.Al Drago/Bloomberg News Lawmakers will return to Capitol Hill next week to wrap up the 118th Congress with must-pass government funding and national defense authorization bills and fresh disaster funds on tap. The lame-duck session ending
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Staring at the enormous mound of rubble that used to be her home, Mariam Hosni clutched her daughter’s hand, which gripped a picture of Hizbollah’s venerated former leader Hassan Nasrallah, assassinated by Israel as it escalated its offensive two months ago. The Hosnis’ building in Beirut’s southern suburbs was levelled in the fierce Israeli bombardment
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“Emergency relief funding is not just about repairing infrastructure, it’s about ensuring that transportation remains a critical support system for communities rebuilding after devastating natural disasters,” said Paul P. Skoutelas, APTA President and CEO. ”This funding is critical now more than ever, as climate-driven disasters increase in intensity and frequency. Congress must act swiftly to provide
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GE Hitachi Nuclear Energy’s BWRX-300 small modular reactor incorporates proven components. Courtesy: GE Verona GE Vernova is aiming to deploy small nuclear reactors across the developed world over the next decade, staking out a leadership position in a budding technology that could play a central role in meeting surging electricity demand and reducing carbon dioxide
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