Scam-tainted US port authority to sell bonds
[WASHINGTON] Despite the continued fallout of the "Bridgegate" scandal, the Port Authority of New York and New Jersey is selling US$400 million bonds.
The Securities and Exchange Commission (SEC) is conducting a parallel investigation of the scandal to the New York County District Attorney's review, the authority disclosed in preliminary documents for the sale released last week.
The authority also said it has received and is responding to several grand jury subpoenas from the US Attorney's office and the district attorney "pertaining to the Port Authority's involvement in certain specified projects and activities". At the same time, it is responding to subpoenas from a statehouse investigation committee and a request for information from the New Jersey State Ethics Commission.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
Carrier AirAsia discloses new listing plans under RM6.8 billion units merger
Baltimore’s trapped ships start leaving as new channel opens
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada