As New York City gets set to issue $1.2 billion of fiscal 2024 series C general obligation bonds, rating agencies affirmed the Big Apple’s $40 billion of outstanding GO debt. Proceeds will be used to fund capital projects; a $309.4 million reoffering will also be sold to convert outstanding floating-rate bonds to fixed-rate securities. Book-running
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The EU has taken the first steps towards a formal investigation into Apple, over a decision to cut off access to some applications that bypass its app store as Brussels steps up scrutiny over the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Germany’s appetite for a potential deal with the Kremlin to swap a Russian hitman in a prisoner exchange has cooled markedly since the death of Alexei Navalny, according to US and German officials. The Russian
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. Microsoft has struck a deal with French artificial intelligence start-up Mistral as it seeks to broaden its involvement in the fast-growing industry beyond OpenAI. The agreement, announced by Mistral on Monday, will involve the US
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. How many reports do you need to fix Britain’s broken housing market? The Office of Fair Trading’s 2010 report, the 2004 Barker review and Oliver Letwin’s 2018 report on buildout rates are just a few
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Aukus continues to make waves across the Pacific. Unveiled in 2021, the tripartite pact centres around Australia’s acquisition of nuclear-powered submarines from the US and the UK. For the Biden administration, Aukus has rapidly become
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Citigroup has appointed top JPMorgan investment banker Vis Raghavan as head of banking, completing its new management team and attempting to jump-start an underperforming business. Raghavan is a 23-year veteran of JPMorgan Chase and had
In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Berkshire Hathaway shares rose on Monday after Warren Buffett’s conglomerate posted strong earnings for the fourth quarter over the weekend. Berkshire class B shares jumped
Municipal bond issuers in the Northeast sold $89.3 billion of debt in 2023, a 14% year-over-year drop that drove the national market into negative territory. Muni issuance in the region’s 11 states, two territories and the District of Columbia came in more than $14 billion below 2022 numbers, according to data from LSEG, formerly Refinitiv,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a consultant plastic and reconstructive surgeon and former vice-president of the Royal College of Surgeons of England who travelled to Gaza with the IDEALS charity Earlier this month I was operating on
At the local museum in the central Italian town of Foligno, some 80 people gathered on Sunday to watch a Kremlin-backed propaganda film about Russia’s invasion of Ukraine. The Witness — which depicts Ukrainian soldiers as Nazis pledging allegiance to Hitler, waving Mein Kampf and committing atrocities — played to empty cinemas in Russia last
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In his latest shareholder letter Warren Buffett said his company Berkshire Hathaway, at its size and maturity, should “operate with materially less risk of permanent loss of capital”. A few pages later, the Oracle of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Palestinian Prime Minister Mohammad Shtayyeh has tendered his resignation, in a long-anticipated move that could set the stage for a new technocratic government responsible for the reconstruction of Gaza. Shtayyeh on Monday offered his resignation
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has urged MPs to stop using words that “inflame” community tensions, as he denounced comments last week by former Tory deputy chair Lee Anderson as “wrong”. Anderson was suspended from the Tory whip
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s competition watchdog has launched an investigation into eight housebuilders over whether they shared commercially sensitive information after a year-long study into why Britain builds too few homes. The announcement of the probe on
After spending the past decade as the car industry’s loudest champions of hybrid vehicles, Toyota executives could be forgiven for feeling some measure of vindication. The Japanese carmaker’s dogged determination to pour billions into hybrid vehicles that combine batteries with the traditional internal combustion engine drew criticism from investors and environmentalists alike. Consumers would balk
Israel plans to raise about $60bn in debt this year, freeze government hiring and increase taxes as it almost doubles its defence spending to support its war in Gaza, according to a senior finance official. Israel’s more than four-month conflict with Hamas has taken a severe toll on the economy, which shrank almost 20 per
Stay informed with free updates Simply sign up to the UK companies myFT Digest — delivered directly to your inbox. A lack of competition in Britain’s audit market and a regulatory drive for better quality have pushed up fees for London-listed companies by 75 per cent over the past five years, according to a new
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bond vigilantism is resurgent in the market for sovereign debt. That emerged with remorseless clarity from the brutal sell-off of UK gilts that toppled hapless British prime minister Liz Truss. Could the fiscal disciplinarians of
Stay informed with free updates Simply sign up to the European banks myFT Digest — delivered directly to your inbox. European banks are on course to return more than €120bn to shareholders off the back of their 2023 results as they pass on the benefits of surging interest rates to investors. Bosses of European lenders
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is author of ‘How to Be a Better Leader’ and is a visiting professor at Bayes Business School, City, University of London They are supposed to be the bridge between senior leaders and