Commercial banking

Lawmakers are putting the final touches on the budget, and Gov. Kathy Hochul said there is broad agreement. Federal cuts may yet scramble everything.

"For munis, a strong jobs report should reverse recent credit spread widening, while a weak jobs report should keep credit spreads around current levels," said BofA strategists.

As cutting the federal budget resonates as a central theme in the Trump administration, the Department of Transportation is getting a boost in appropriation proposals.

The ratings agency changed its outlook on its BBB-minus rating to negative from stable Wednesday.

Part of the problem is lack of reimbursement from insurance companies, said the owner of one proton center.

Pew Charitable Trust outlined how governments can better prepare for natural disasters to alleviate budget pressures as these incidents have grown in frequency and severity.

Breiffni Ó Domhnaill is vice president of commercial — legal & accounting solutions at Propylon. He is a chartered accountant with over 10 years of experience developing and implementing solutions for global payroll, international tax, audit and accounting, and compliance.

Stephany Kirkpatrick is CEO of Orum, a payments technology company.

"As we head into reconciliation and tax negotiations, I'm making it clear: I won't support a bill that doesn't lift the cap," Rep. Mike Lawler said.

KBRA downgraded Los Angeles GO bonds to AA from AA-plus in the city's second downgrade within a week. The city's lease revenue bonds were also cut.

The ratings agency is growing more pessimistic about the United States economy.

Long Beach has few, if any, peer credits for the $88 million of marina revenue refunding bonds it plans to price next week.

Ohio's governor is critical of a legislative plan to support a Cleveland Browns stadium in suburban Brook Park with $600 million of state bonds.

Daily report for May 02, 2025

Richard Chambers is the CEO of Richard F. Chambers & Associates, a global advisory firm for internal audit professionals, and also serves as senior advisor of risk and audit at AuditBoard. Previously, he served for over a decade as the president and CEO of the Institute of Internal Auditors, where he led the organization to record global membership and countless milestones. Prior to the IIA, Chambers was national practice leader in Internal Audit Advisory Services at PwC and vice president of the IIA's Learning Center.