New Jersey Democrats allowed a $1.4 billion transportation bond issue to proceed after their delay in approving the deal led Governor Chris Christie to halt road and transit construction across the most densely populated U.S. state.
New Jersey Department of Transportation Commissioner James Simpson said he is halting all state-funded transportation construction projects effective Oct 4. Simpson said he was taking the action because the state Legislature did not approve a bond sale to fund previously authorized work.
Royal Bank of Scotland Group Plc’s interest-rate traders were seated with one of the main rate setters in its London office to share information, and discussed rates on conference calls, a fired trader said.
New Jersey is set to issue $1.4 billion in Transportation Trust Fund Authority bonds Oct. 13 and 14, about a week after James Simpson , the state’s transport commissioner, said the infrastructure account is “broke” and suspended 100 projects because of a lack of cash.