Microsoft and Google’s owner Alphabet have quashed investor scepticism around the vast sums spent on developing artificial intelligence, after being boosted by rampant corporate demand for their cloud computing services. The combined market value of the two US tech giants rose by more than $250bn on Friday, a day after each reported double-digit revenue growth
Municipals held steady Friday ahead of a sizable $7 billion, new-issue slate with a mix of credits across the spectrum, from healthcare to housing to toll roads and bellwether general obligation issuers. U.S. Treasuries improved across the curve while equities rebounded after another volatile week across markets. “Bond market investors are all wishing that April was behind us as they
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. James Cameron, who dreamt up the evil Skynet artificial intelligence network in his 1984 film The Terminator, says an advanced AI system could one day do his job. “If you have an artificial general intelligence
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Labour has sold out its party conference “business day” in under 24 hours, after a “Glastonbury-style” rush saw 500 top executives pay £3,000 for a ticket. The high demand for access to the event, where
The California Treasurer’s office will relaunch its DebtWatch website on May 1, offering a more user-friendly format with vastly more data than the original 2015 version. The website’s software will allow investors, issuers and taxpayers to access all the data the California Debt and Investment Advisory Commission gathers on bond issuance to allow them to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Topsy-turvy US economic data released this week left markets in a pickle, but still just outside the danger zone. Official figures revealed on Thursday that the US economy was not necessarily streaking ahead of the
On Thursday the Governmental Accounting Standards Board requested feedback via a survey designed to aid the board’s tinkering with standards and disclosures regarding infrastructure and capital assets. “We would like feedback from users of governmental financial statements on what information would have a meaningful effect (more than ‘nice to know’) on their analyses for decision making or assessment
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As a clever-clogs analyst a long time ago, I remember ripping a friend’s new business venture apart. Why would you touch such a horrible industry? The profit margins are barely in to double figures! But
King Charles III is to return to public duties next week after temporarily stepping back from the spotlight during treatment for cancer. Buckingham Palace said that the British monarch’s doctors were “sufficiently pleased with the progress made so far that the King is now able to resume a number of public-facing duties”. The King, who
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT While the spring housing market has been plagued with low supply, high prices and spiking interest rates, would-be homebuyers are focusing on new construction. The reason? New homes have more incentives and availability than previously owned ones. “There’s more opportunity in new construction,” said Nicole
Investors should be aware of risks that Build America Bonds pose if called under an extraordinary redemption provision, as many of these could result in losses, especially if the bonds were purchased at a premium,the Municipal Securities Rulemaking Board warned Friday. That comes amid expectations that issuers will redeem $20 to $30 billion in BABs
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When checks on food entering the UK from the EU begin on Tuesday, lorries will have to drive 22 miles from Dover to border control posts at Sevington on the outskirts of Ashford. Anyone found to be carrying unsafe or contaminated food could be asked to turn around and drive back again. The government has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The yen tumbled to a fresh 34-year low on Friday after the Bank of Japan kept interest rates on hold and offered no indication it was in a hurry to arrest the currency’s slide with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This article is an on-site version of The Lex Newsletter. Premium subscribers can sign up here to get the newsletter delivered every Wednesday and Friday. Standard subscribers can upgrade to Premium here, or explore all
With about 94% of the $55 billion of federal funding from the 2021 Infrastructure Investment and Jobs Act for the country’s water and wastewater needs yet to be disbursed, issuers may not need much in the way of municipal bonds for water infrastructure, analysts said. Bond issuance for water and sewer purposes declined 6.7% to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The chief executive of TotalEnergies has said the French oil major could move its primary listing from Paris to New York as US investors were more positive about the company and supportive of its fossil
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Two British nationals have been charged with conducting hostile activity in the UK to benefit Russian intelligence after a suspected arson attack on a London-based business linked to Ukraine. Prosecutors said on Friday that Dylan
On the High Street in Hungerford, a historic market town about an hour west of Reading, is Nigel Montgomery’s stamp and coin shop. He has traded precious metals for about 50 years, but has never seen a gold rush like this: the price of a troy ounce, the unit used to weigh precious metals that
The worlds of finance and theater might seem very different, but Steven Mahr sees a common thread running through the work that he and his colleagues do to realize the city’s policy visions and the performances that take place on Chicago’s renowned stages. Mahr, who moved to the city with his wife two years ago,
Collin Teague has joined Siebert Williams Shank & Co. as a managing director in the company’s public finance group in New York, the firm announced Thursday. Teague was most recently an executive director in the municipal securities department at Morgan Stanley. “Collin joining us is further evidence of our commitment to growing our public finance
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