The City of Richmond sold $333.7 million in Public Utility Revenue and Refunding Bonds, of which $150.9 million was for new money projects and $182.8 million was to refinance existing debt service for interest rate savings. The cost of funds for the city's new money projects was approximately 3.09 percent, near the lowest cost of funds in several decades, the city said.
The city also took advantage of low interest rates to refinance its 2013A bond issue, which is projected to result in a reduction of existing debt service by $22.7 million over the next 23 years. Those savings are to be spread across the city's gas, water, and wastewater enterprise funds and would alleviate a portion of expected future-year rate increases.
Many things are taking place:
Lewes BPW adopts $13.6 million operational budget | Cape Gazette
The electric rate for Lewes Board of Public Works customers recently dropped and will continue to stay low over the next year, General Manager Darrin Gordon says.
"We get beat up on a lot of things, but we have the lowest residential electric rates in the state of Delaware, and we've been there for about the last five months," he said.
All other rates will remain the same as part of the 2020-21 operations and maintenance budget, adopted March 25.
Latest Indiana news, sports, business and entertainment at 3:20 a.m. EDT
BLOOMINGTON, Ind. (AP) — Trustees at Indiana University have allowed school leaders to borrow up to $1 billion to counter a potential budget shortfall due to the coronavirus pandemic. The trustees approved the request Friday. University spokesman Chuck Carney says the university is in good financial shape, but the request offers peace of mind for the university to continue operations during difficult times. The university's largest source of revenue is tuition.
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DELPHI, Ind. (AP) — A northern Indiana company is making plastic clips to protect medical workers' ears from being irritated by the elastic straps on face masks protecting them during the coronavirus pandemic. Hometown Shirts and Graphix temporarily closed its doors after Gov. Eric Holcomb issued a stay-at-home order last month to fight the spread of the coronavirus.
Private Chinese airline to slash capital investment by over 90%
TOKYO -- Private Chinese carrier Juneyao Airlines is drastically cutting back on its investment plans this year due to the devastating impact of the novel coronavirus on the industry, even as its state-owned peers continue to enjoy adequate funding.
Juneyao, a Shanghai-listed midsize carrier, will spend just $200 million on capital expenditure this year, according to its annual earnings filing made to the stock exchange on Saturday. That is 91% less than the original plan of $2.267 billion, which disclosed a year ago in a similar filing,
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Proposal to restrict AEDC efforts in China fails at budget hearing - Talk Business & Politics
A proposal to curtail Arkansas’ activity in recruiting business into and out of China did not find support from lawmakers at Thursday’s (April 9) Joint Budget Committee hearing.
Sen. Trent Garner, R-El Dorado, proposed eliminating contractual services by the state to fund “an office, liaison or representative for the Arkansas Economic Development Commission in China.” The proposal only received seven votes for passage, far short of a majority on the budget panel.
Apple's budget phone: a democratic move for difficult times? | Digital | Campaign Asia
Apple is rumoured to be getting ready to launch a successor to the iPhone SE (the "budget" iPhone, pictured ) soon for less than $400 and potentially to be significantly delaying the 5G iPhone 12 – potentially leaving the company short of a major iPhone launch for the year.
This can’t be down solely to batshit conspiracy theories about 5G causing Covid-19 – so what is going on with Apple right now?
Sales of iPhones have been hit hard and not just by the pandemic. The business reported a 61% year-on-year sales fall in in March in China – a territory that accounts for roughly 15% of its business. The knock-on effect of a disrupted supply chain and travel restrictions is likely to see the same picture emerging globally. Even before this, though, sales were cooling, with the company reporting a 9% drop in iPhone sales in the final quarter of 2019.
Coronavirus Pandemic Is Reshaping Blockchain Companies' Roadmaps
The coronavirus pandemic has been affecting more and more aspects of the blockchain and cryptocurrency market. As Cointelegraph previously reported , more than half of the 2020 crypto conferences were either canceled or postponed due to the COVID-19 outbreak, while mining manufacturers had to stop the equipment production in China.
At the same time, other companies have been able to master new opportunities by digitizing business processes and moving employees online. Cointelegraph has analyzed how severe the consequences appeared to be for projects working with blockchain technology and cryptocurrencies, and how the coronavirus pandemic has affected their roadmaps and release schedules.
Far worse to come: COVID-19 collapse of state and local governments | TheHill
Another sudden and unexpected factor will transform this year's elections. Many states, cities and counties are about to, suddenly, run out of money. Wages won't be paid. Services won't be delivered. Institutions will shut down abruptly. Many state colleges may fold. And yet most state and local political and administrative leaders just sit and watch. Voters will not be pleased.
The result is that state and local tax revenues will plummet. States and localities will burn through any reserves they've maintained like wildfire. Since most of our politicians and government managers have been raised during a decade of expanding economies, their first instinct will be to wait and then panic and then raise taxes to cover shortfalls — perhaps a special "coronavirus surtax.
Happening on Twitter
This is hard work even in normal times! It's easier to join a national campaign umbrella than to do the research ne… https://t.co/8Y5SYOCwBO austin_walker (from New York, NY) Wed Apr 08 15:51:50 +0000 2020
Newspapers continue to break huge stories and set the agenda. Meanwhile, local newspapers are in crisis - please bu… https://t.co/jntqU2jezN martynziegler Mon Apr 06 20:42:36 +0000 2020
A COVID-19 update and a proposal to help local small and micro businesses highlight the first-ever virtual… https://t.co/APVKJNV7u5 MeckCounty (from Mecklenburg County, NC) Tue Apr 07 13:25:03 +0000 2020
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