A research report by Nomura released Friday said that the management of Azure expects to hear from NYSE on July 27 on its decision on their appeal regarding the stock s delisting. Just two days ahead of the mandated deadline set by NYSE for disclosures of FY22 results, the management stated that its auditors S R Batliboi & Co, an Ernst & Young (EY) Global affiliate, had resigned, and the new auditors would take 14 weeks to complete the audit for fiscal year 2022 of the group and the subsidiaries.
Yields on Treasury bills maturing soon have fallen from recent highs, a sign that investors are no longer worried about the possibility of a default on federal debt now that the debt limit deal has passed the House.
While any debt ceiling bill is now expected to feature caps on federal spending, history shows that those limits might end up being increased in the years after the deal.
The next week or so is the make-or-break window for debt ceiling negotiators to craft a deal as the Treasury whittles away at the last of its cash supply.
Even as the deadline to act inches closer, political pressure and the political fallout of a default means that lawmakers will likely come to a debt ceiling agreement before the worst happens.