Cuomo, Senate Majority Leader Andrea Stewart-Cousins, and Assembly Speaker Carl Heastie made the announcement. New York was ambushed early and hit hardest by COVID, devastating our economy and requiring urgent and unprecedented emergency spending to manage the pandemic, Cuomo said. Thanks to the State s strong fiscal management and relentless pursuit to secure the federal support that the pandemic demanded, we not only balanced our budget, we are also making historic investments to reimagine, rebuild and renew New York in the aftermath of the worst health and economic crisis in a century.
- Advertisement - This budget continues funding for the largest-in-the-nation $311 billion infrastructure plan, establishes a groundbreaking program to provide affordable internet for low-income families and enhances public safety through police reforms, all while continuing to provide relief to New Yorkers and small businesses as we recover from the pandemic.
jwhittaker@post-journal.com
If the budgets proposed by the state Senate and Assembly are any indication, then New York is about to spend a record amount of money in the coming year.
The state Assembly has released a $208.3 billion All Funds budget proposal that increases spending $12.2 billion, or 6.3%, from Gov. Andrew Cuomo’s executive budget proposal. The state Senate’s one-house budget, meanwhile, increases school aid alone by $5.7 billion. Both proposals come with a slew of new taxes on high wage earners the Senate raises $8.2 billion in new taxes in 2021-22 while the Assembly raises roughly $7 billion in new taxes.
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Albany, NY) Today, the Senate Majority will pass its one-house budget resolution that delivers emergency aid to help New York recover from the COVID-19 pandemic and invests in a brighter, more equitable future by fully funding essential services and putting more money in the pockets of working and middle-class families. The Senate resolution increases total school aid by $5.7 billion, provides billions in residential and commercial rental and foreclosure assistance, restores critical funding to our health care system, and jumpstarts our economy with investments in transportation and small businesses. The Senate Majority’s proposal asks the wealthiest New Yorkers to pay their fair share rather than balancing the budget on the backs of working families.
CAMRADATA Live activity: The vaccine jolt for emerging markets
Mithursha Kesavan.
The economic recovery that is expected for 2021 may give hope for emerging markets investors. The rapid rollout of Covid-19 vaccines means nations with developing economies are now able to vaccinate at a faster rate and this, hopefully, should have a positive impact on the sector.
In CAMRADATA Live, the top asset classes by investor research activity in the last three months to 31 December last year shows that emerging markets equities were fourth in the ranking. The investors were primarily pension funds at 90% and insurance companies at around 10%.
Looking at the top five asset managers’ selected products, Aberdeen Standard Investments came top for this particular asset class. However, in the past year, the top-performing firm for emerging markets equities has been Artisan with its Artisan Developing World vehicle. This gave an absolute return of 83.46% with a standard deviation of 22.73%.
By Reuters Staff
1 Min Read
MADRID (Reuters) - Madrid-based financial services firm Allfunds plans to list its shares on Euronext Amsterdam in an initial public offering that would value the firm at between 6 billion and 7 billion euros ($7.3 billion-$8.5 billion), Spain’s Expansion newspaper reported on Tuesday.
Allfunds is jointly owned by private equity fund Hellman & Friedman, Singapore’s sovereign fund GIC and French bank BNP Paribas and Swiss bank Credit Suisse.
The firm, which provides supporting services to mutual funds around the world, aims to carry out the IPO in the second quarter, Expansion reported, citing unnamed sources.
A spokeswoman for Allfunds declined to comment on the Expansion report.