The University of California sold about $2 billion of general revenue bonds in the municipal-bond market on Wednesday amid a newly filed federal lawsuit that alleges discrimination against Jews and Israelis at its Los Angeles campus.
Royce Hall on the UCLA campus in Los Angeles. Photographer: Mario Tama/Getty Images
Los Angeles Mayor Karen Bass used her State of the City address to effectively kick off her reelection campaign, highlighting the city’s recovery from last year’s deadly wildfires and casting LA as ready to host a run of global events.
Karen Bass, mayor of Los Angeles, during the Bloomberg Screentime event in Los Angeles in October 2025.
While municipal bonds have gotten increasingly expensive this year, money managers say that long-dated US state and local debt — often eschewed by investors — still look appealing.
Construction workers install steel rebar during a construction project in Los Angeles.
California Governor Gavin Newsom proposed a $349 billion budget for the fiscal year that begins in July that leans on steadier economic growth and resilient financial markets to keep the state’s projected deficit to about $3 billion, a far smaller gap than earlier estimates.
Governor of California Gavin Newsom during the State of the State address at the California State Capitol in Sacramento on Jan. 8.
California has withdrawn a lawsuit against the Trump administration that sought to recover roughly $4 billion in federal funds pulled from the state’s long-delayed high-speed rail project, after concluding it can no longer rely on the federal government to help deliver the system.
Contractors on a cherry picker during the construction of a high-speed rail project in Kings County, California, US, on Monday, March 24, 2025. The Trump administration has launched a review of California's high-speed rail project, adding to long-standing doubts about whether the venture, plagued by cost overruns and delays, will ever be completed.
The Kansas City Chiefs announced that they are moving across the Missouri border to Kansas after lawmakers there approved a public financing package to build a new stadium on Monday.
The Kansas City Chiefs play the Detroit Lions at Arrowhead Stadium in Kansas City, Missouri, in 2023. Photographer: Jamie Squire/Getty Images
The University of California is prepping a $2 billion municipal bond sale, reviving a deal that it shelved in August amid a high-stakes confrontation with the Trump administration over frozen federal research funds.
Yankee Stadium, the Bronx-based home of the New York Yankees baseball team, pulled in almost $340 million from ticket sales and suite licenses in the first nine months of the year, a small increase on the same period in 2024.
New York Yankees celebrate after beating the Boston Red Sox in game three of the American League Wild Card Series at Yankee Stadium in New York on Oct. 2.
A surge in artificial intelligence stock prices has boosted California’s tax collections by about $11 billion, yet the state’s deficit is still on track to swell to about $18 billion next fiscal year, officials said.
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