Brussels has said it wants enough manufacturing capacity for clean technologies within the bloc to meet two-fifths of domestic needs while allowing EU governments to override environmental considerations in order for key projects to go ahead. In a draft proposal seen by the Financial Times, the European Commission said that in five key sectors —
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The comedian Eddie Izzard used to do a standup routine about showers. In particular, the fine art of getting the water temperature right. Turn the dial a tad too far to one side, and you sustain third-degree burns. A fraction too much the other way, and you enter the sort of cryogenic stasis that messianic
On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies
Chancellor Jeremy Hunt is to spend about £3bn in his March 15 Budget to shield UK households from higher energy bills, but new economic forecasts mean he will have little room for big giveaways. The chancellor has been handed draft forecasts by the UK fiscal watchdog showing the economy will barely meet his fiscal rule
A Saudi prince whose palatial London residence is on the market for £250mn after it was repossessed is being sued by a second lender over alleged missed payments on a private Boeing 787 jet. An Irish subsidiary of China Minsheng Bank is claiming at least £30mn in unpaid bills and interest on the business jet
S&P Global Ratings on Friday revised the outlook on Reedy Creek Improvement District, Florida’s general obligation bonds to stable from developing. S&P also affirmed the AA-minus long-term rating on the district’s outstanding GOs, saying the rating reflects the strong tax base, very strong collection rates and consistent financial performance. “The outlook revision reflects recent state
The Financial Conduct Authority has been blamed by some UK officials and SoftBank staff for London losing out to New York on the blockbuster stock market listing of chip designer Arm. SoftBank, the Japanese owner of the Cambridge-based semiconductor company, this week dashed Rishi Sunak’s hopes of retaining the homegrown tech giant, rejecting entreaties from
Municipals were firmer in spots Friday, with pressure easing for short-end munis, ahead of a robust new-issue calendar where issuance tops $10 billion. U.S. Treasuries rallied out long, and equities ended up. Triple-A benchmark yields were bumped three to 12 basis points, depending on the scale, at one-year, while UST yields fell four to 13,
Since Wael Sawan took charge at Shell two months ago, staff and investors say he has been focused on one thing above all others: its share price. Shell’s stock rallied 37 per cent last year as it made a record $40bn in profits from the turmoil in energy markets unleashed by Russia’s full-scale invasion of
The biggest selling point for the UK stock market in recent months has been its slow, steady, boring nature. This is a quality that should not be taken for granted. The era dominated by whizz-bang, US tech-led stocks is fading. Sure, it made a good shot at reasserting itself in the final months of last
According to statistics, the number of bitcoin bridged to the Avalanche blockchain saw a significant inflow on March 2, as more than 2,000 bitcoin were bridged on that day. Data further shows that as of Friday, March 3, a total of 8,504 bitcoin worth $190.9 million was bridged over to the Avalanche network. Bitcoin Bridged
On the face of it, TikTok makes for an unlikely threat to national security. With its snackable, seconds-long videos of viral dances and comical voice-overs, it is one of the most used apps in the west, and embedded in the culture of a generation of young people. It now claims more than 1bn users worldwide
Bitcoin (BTC) is leading the cryptocurrency markets lower and the matter is being exacerbated by Silvergate Banks’ ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency
Legislation seeking to end government contracts with companies engaged in “boycotting” an expanded list of industries and business policies passed the Utah House and Senate late Thursday. Senate Bill 97 builds on laws previously enacted in Texas and a few other states focusing on “boycotts” of the fossil fuel or firearm industries by adding timber,
New Jersey Gov. Phil Murphy unveiled his executive budget proposal for fiscal year 2024, a record $53.1 billion plan that takes into account the state’s expectation for a shallow and short recession by holding off on large new initiatives while boosting reserves and addressing long-term obligations. “This budget will better prepare New Jersey for any
Fitch Ratings raised Miami-Dade County’s $4.9 billion of aviation revenue and revenue refunding bonds to A-plus from A after a year where Miami International Airport took the title of busiest airport in Florida. The bonds, issued for the Miami-Dade County Aviation Department, have a stable credit outlook. Fitch said MIA surpassed its pre-pandemic traffic high
The Federal Reserve said further interest-rate hikes would be required to restore price stability. “The committee is strongly committed to returning inflation to its 2% objective,” the Fed said in its semi-annual report to Congress released Friday. Officials expect “ongoing increases in the target range will be appropriate in order to attain a stance of
New Mexico would authorize public-private partnerships on the state and local level under a bill unanimously approved by the state House Thursday and now headed to the Senate. The bill, House Bill 213, would allow P3s for transportation and broadband projects. “Those are two of the most pressing needs in the state,” said Rep. Cathrynn
The Moscow-born far-right militia leader who led a raid out of Ukraine into Russia has claimed he aimed to expose the country’s weak defences and inspire more compatriots to rise up against Vladimir Putin. Denis Nikitin, a notorious extremist who heads the Russian Volunteer Corps, told the Financial Times that his Ukraine-based fighters had proved
Volkswagen plans to open two new factories in North America to spearhead its push into the electric vehicle market, which the German carmaker says has become more appealing since US president Joe Biden unveiled more than $400bn in clean energy incentives. VW said on Friday that it would open a new assembly plant in Columbia,
Topline Data released by the S&P Corelogic Case-Shiller index, a leading measure of U.S. home prices, shows home prices continued to drop across the U.S. through December, with major cities like Seattle and San Francisco among those showing the biggest declines. Key Facts On Tuesday, S&P Dow Jones Indices reported home prices have ticked down