Stay informed with free updates Simply sign up to the Professional services myFT Digest — delivered directly to your inbox. US law firm Latham & Watkins is cutting off automatic access to its international databases for its Hong Kong-based lawyers, in a sign of how Beijing’s closer control of the territory is forcing global firms
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US stocks retreated from record high territory to close lower, with investors now turning their attention to the release of official US inflation data on Tuesday. The benchmark S&P 500 ended 0.1 per cent lower, having gained as much as 0.4 per cent in the morning to set a record intraday high. More than two-thirds
DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai’s World Governments Summit. “China’s biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic
The Puerto Rico Electric Power Authority bankruptcy proceedings will not be paused despite a request from bond parties, U.S. District Court Judge Laura Taylor Swain said Monday. Though the First Circuit Court of Appeals is considering how bond parties’ liens on PREPA’s revenues should be treated in the bankruptcy, Swain said regardless of that court’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump has asked the US Supreme Court to put on a hold a ruling that barred him from using presidential immunity as a shield against criminal charges accusing him of meddling in the 2020
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of England is seeing signs of an “upturn” in the economy, its governor said on Monday, as he played down the significance of upcoming data some analysts say will show the UK was
The Alameda Transportation Authority sold over $216 million in revenue refunding bonds to restructure ACTA’s debt through a combined tender offer and debt restructuring plan. The bond sale allowed ACTA to reshape its profile to avoid projected debt service shortfalls and match anticipated revenue growth. The rail corridor consists of a 20-mile multi-track rail system
Howard Mallen has been named chief financial officer of the Transportation Corridor Agencies. Mallen will take over CFO duties from Amy Potter, who has been serving a dual role as CFO and deputy chief executive officer since December 2022. Potter was named CFO in 2004. TCA comprises two joint powers authorities formed by the California
Municipals were steady in light secondary trading Monday as U.S. Treasuries were flat and equities ended mixed. The muni market will see “continued strength,” said Wesly Pate, senior portfolio manager at Income Research + Management, largely due to the supply/demand imbalance. “We have entered into a period of a cumulative structural shortfall of tax-exempt debt
Jodi Jacobson | E+ | Getty Images More than 18 million rental units are located in areas exposed to extreme weather hazards, according to the American Rental Housing Report from Harvard University’s Joint Center for Housing Studies. That exposure isn’t spread evenly. While most states have at least one “high-risk” county with 2,000 or more
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Brussels is proposing to impose sanctions on three Chinese companies and one Indian business as part of its latest measures to damage Russia’s war machine. If member states approve the plan, it would be
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The heads of the CIA and Israel’s Mossad spy agency are expected to hold talks with senior Egyptian and Qatari officials on Tuesday in a bid to revive negotiations on a deal to halt the
A proposed plan to build a $2 billion arena complex in Northern Virginia through a public-private partnership that would move two major league sports franchises out of Washington D.C .is attracting pushback from state legislators, local residents, and Washington’s mayor who’s offering $500 million in renovations to the team’s current home. “The city would leverage our
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Europe’s fears of an isolationist America under a second Trump presidency are becoming reality. Donald Trump has not yet sealed the Republican nomination for this year’s White House race and the presidential vote is many
Oklahoma’s credit quality is looking up, rating agencies say, with Fitch Ratings joining Moody’s Investors Service and S&P Global Ratings in revising the state’s rating outlook to positive from stable. Fitch, which rates Oklahoma AA, said Friday the revision reflects sustained improvements in expenditure flexibility and overall fiscal management, “particularly its adherence to conservative budgeting
Top Congressional Republicans want to overturn a Biden administration rule requiring states and metropolitan planning organizations to reduce transportation-related carbon emissions. A Congressional Review Act joint resolution of disapproval that Republicans filed last week has the support in the Senate of 49 Republicans and Democrat Sen. Joe Manchin, W. Va. A companion House version was
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Dutch court has ordered the government to stop sending spare parts for F-35 fighter jets to Israel, amid mounting international pressure over the way the Jewish state is conducting the war against Hamas in
When buses ferrying migrants north from Texas began arriving in Naperville, Illinois, which is roughly 30 miles from Chicago, local officials were caught off guard. “We had a total of six buses in December and they went directly to the Metra train station with occupants boarding trains to Chicago,” Naperville Director of Communications Linda LaClouche
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. During the first half of Sunday’s Super Bowl, the Jumbotron at Allegiant Stadium in Las Vegas briefly cut away from the action on the field to show Taylor Swift chugging a beer in her luxury
What are America’s traditional allies to make of last week’s Republican shenanigans on Capitol Hill when they torpedoed the bill to give billions of dollars of aid to Ukraine? Or of Donald Trump’s comments over the weekend questioning Nato’s doctrine of collective defence? The short answer is: be alarmed. The more considered answer is: prepare,
Market volatility, an inverted yield curve, higher yields and huge swings in the SIFMA swap index are giving issuers pause when considering floating-rate debt products. Issuance of variable rate demand obligations and other floating-rate debt saw a small increase in 2023 year-over-year, but it’s unclear if that trend will continue into 2024 due to the