UK construction activity unexpectedly declined in January for the first time since February 2024 while cost inflation accelerated, according to a closely watched survey published ahead of the interest rate decision. The S&P Global UK Construction Purchasing Managers’ index, which tracks changes in total industry activity, fell to 48.1 in January, down sharply from 53.3
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Enjoy complimentary access to top ideas and insights — selected by our editors. With President Donald Trump’s short-lived federal funding freeze and the potential end of the tax-exempt status on the horizon, the public finance arena is off to a rough start in 2025. Late in the evening on Jan. 27, the White House released
Financial markets have been roiled by US President Donald Trump’s announcement of tariffs on key trading partners, and investors are bracing for further volatility ahead. Here’s how they are trading Trump’s on-again, off-again trade war. Equities: ‘impossible to avoid risk’ Wall Street has been working since before November’s presidential election on how it should position
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The White House has sought to assuage fears of a protracted US military intervention in Gaza, insisting Donald Trump’s plan to assume control of the enclave did not necessarily mean putting “boots on
<img src=”https://public.flourish.studio/visualisation/21489373/thumbnail” width=”100%” alt=”chart visualization” /> Munis were firmer Wednesday, underperforming a U.S. Treasury rally in most tenors, while equities ended up. Muni yields were bumped one to eight basis points, depending on the scale, while UST yields fell three to 10 basis points, with the greatest gains out long. Tariffs and trade negotiations have
“I’m concerned that we’re getting too close to a time when, without drastic cuts or a new revenue, I won’t be able to certify the next budget, even if I want to,” Houston Controller Chris Hollins told the Cty Council. Michael Dorman Houston officials raised concerns on Wednesday over a $100 million budget hit from
Resiliency financing districts are part of Connecticut Gov. Ned Lamont’s nine-point legislative proposal to boost the state’s capacity to endure severe weather.Bloomberg News Connecticut’s governor proposed a new public finance tool as part of a broad plan to improve the state’s resiliency against extreme weather and climate change. The nine-policy-point program Gov. Ned Lamont released
Bloomberg News North Carolina’s biggest city is poised to sell $400 million of municipal bonds after a recent population surge underscored the need for more infrastructure. Charlotte received approval to sell the debt Tuesday from the Local Government Commission, an arm of the Department of State Treasurer. Proceeds of the upcoming sale will finance transportation
A few days ago, a European-Israeli real estate developer had a surprise call from an old friend, now at the White House. The friend wanted to ask him some informal but detailed questions: about banking regulations involving investments in the Palestinian territories, access to the energy grid and possible tie-ups with major Gulf construction giants.
“We simply cannot have a situation in which Congress comes together in bipartisan fashion, agrees on a measure, and a president who has taken an oath to faithfully execute those laws, instead picks and chooses among them,” said Sen. Sheldon Whitehouse, the Democratic ranking member of the Environment and Public Works Committee. Confusion caused by
Chicago Public Schools officials are assessing the likely impact of new White House policies.Bloomberg News Most federal funding in this year’s Chicago Public Schools budget will be unaffected by a pause on federal grants and loans ordered by the Trump White House, even if that pause is upheld by courts, CPS CEO Pedro Martinez said
Donald Trump’s plans for the US to assume control of Gaza have been met with anger across the Arab world, and raised fears of reigniting conflict in the region. Saudi Arabia, considered Trump’s closest ally in the oil-rich Gulf region, was quick to denounce the US president’s remarks on Tuesday evening that Washington should “take
Homebuyers are seeing very little reason to get a jump on the all-important spring housing market, even with more listings coming up for sale. Mortgage rates haven’t moved much in the last few weeks, and home prices continue to rise. Mortgage applications to purchase a home last week dropped 4%, compared with the previous week,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Benjamin Netanyahu has vowed to resume Israel’s war with Hamas in Gaza, in his most explicit pledge yet to reject a lasting ceasefire as Donald Trump said that Palestinians could be resettled away from the
Donald Trump has said that Iran cannot have nuclear weapons but should reach a “verified nuclear peace agreement”, which the US should begin working on immediately. In a post on his Truth Social platform on Wednesday, Trump said reports that the US and Israel were preparing to “blow Iran into smithereens” were “greatly exaggerated”. “I
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The markets were fools on Saturday, and shrewd judges of character on Monday. When Donald Trump announced tariffs against America’s neighbours last weekend, investors who had talked since November of a misunderstood, deceptively
Enjoy complimentary access to top ideas and insights — selected by our editors. The top five bond financings in the ranking came in totaled more than $6 billion, according to data from LSEG. The top 20 bonds had a total issuance volume of more than $15 billion. Scroll through to see which bond financings are
Show video info President Donald Trump has said the US will “take over” the Gaza Strip and that Palestinians should permanently leave the enclave in the strongest indication yet that he wants the 2.2mn population resettled in countries such as Egypt and Jordan. Speaking as he held talks with Israeli Prime Minister Benjamin Netanyahu at
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alphabet’s revenues undershot estimates in the fourth quarter as the search giant’s cloud business grew slower than expected, while it continued to accelerate its spending on data centres in response to demand from artificial intelligence.
&lt;img src=”https://public.flourish.studio/visualisation/21471238/thumbnail” width=”100%” alt=”chart visualization” /&gt; Municipals were slightly firmer as U.S. Treasury yields fell and equities rebounded. Muni yields were bumped up to three basis points, depending on the curve, while UST yields fell four to five basis points. The two-year municipal to UST ratio Tuesday was at 63%, the five-year at 63%, the
“I think that would be incredibly unfair to punish bondholders in that way when they in good faith thought they were buying tax-exempt instruments,” said Rich Moore, tax attorney at Orrick, of the potential for Congress to eliminate the tax exemption on outstanding bonds. The threat that Congress will eliminate the tax exemption on future
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