Wall Street took a nosedive Tuesday following the before-the-bell release of hotter-than-expected January consumer inflation data. In response, bonds sold off, pushing the 10-year Treasury yield above 4.30% and equity prices sharply lower. The Dow , the S & P 500 and the Nasdaq were all down more than 1.5%, as the odds of a
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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. Sir Keir Starmer was on Tuesday hit by a new row over alleged antisemitism in the Labour party, after a second election candidate was suspended over comments about Israel’s war in Gaza. The Labour leader
Small muni market firms are being overburdened by an excessive regulatory environment that favors the large Wall Street firms, with small firms feeling overwhelmed by the recent amendments to Municipal Securities Rulemaking Board Rule G-14 on time of trade that reduces the trade reporting window to one minute. Those complaints are being expressed as part
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Western Europe’s defence spending is outstripped by Asia’s and grew more slowly last year, the International Institute for Strategic Studies said onTuesday, despite the Russian invasion of Ukraine presenting the biggestsecurity threat to the region
Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. Donald Mackenzie, one of CVC Capital Partners’ co-founders and most successful dealmakers, is stepping back from Europe’s largest buyout firm ahead of its long-awaited public listing. Mackenzie, 66, was among a small group of executives
Nato is set to announce that most of its members are on track to hit the alliance’s defence spending target as it prepares for more Russian aggression and braces for the potential election of Donald Trump. According to three officials, Nato will say on Wednesday that 18 of its 31 members will meet the target
The value of the New York State’s common retirement fund was estimated at $259.9 billion at the end of the third quarter of fiscal 2023-24, state comptroller Thomas DiNapoli said Tuesday. For the three-month period ending Dec. 31, the fund’s investments returned an estimated 6.18%. The fund’s long-term expected rate of return is 5.9%. In
Massachusetts Governor Maura T. Healey’s $56.1 billion budget proposal for fiscal 2025 calls for increased funding to the state’s Commonwealth Transportation Fund that will enable it to borrow an additional $1.1 billion over the next five years. The fiscal 2025 budget proposal, which represents a 2.9% increase over the current year’s spending, would dedicate $250
Enjoy complimentary access to top ideas and insights — selected by our editors. The prospect of three consecutive negative total return years, a GAO ruling giving congress the power to review the DoT’s multimodal discretionary grant funding opportunity, and a proposed new tax on electric vehicles are among the latest developments in the Capitol that
Row of townhouses in Alexandria, Virginia Grace Cary | Moment | Getty Images A new, more affordable repayment plan for federal student loan borrowers may come with another advantage: It could make it easier to become a homeowner. The Saving on a Valuable Education, or SAVE plan, can cut borrowers’ monthly payments in half, and
Americans invented Beatlemania in 1964, which was bittersweet for the British, who had invented it in 1962. Something similar is happening now to Arm Holdings. The Cambridge-headquartered chip designer has doubled in value after posting quarterly results last week. Since its Nasdaq float in September, the stock is up 192 per cent. Its market cap
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation slowed to 3.1 per cent in January, as the Federal Reserve considers how soon to begin cutting interest rates. Economists polled by Bloomberg had forecast annual consumer price inflation of 2.9 per cent,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Body Shop has appointed administrators for its UK arm, weeks after its new private equity owners took control of the business in a £207mn deal. The retailer, which has about 200 shops in Britain,
The days of booming job growth in Texas may be ebbing, according to the Dallas Federal Reserve, which expects the state to return to more normal growth of 2% this year. In their economic outlook for the Lone Star State released Friday, Dallas Fed economists projected the addition of 283,500 jobs in 2024, following gains
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Russia has put the prime minister of Estonia, Kaja Kallas, on a wanted list, the first time the Kremlin has sought criminal charges against a foreign leader nearly two years since Moscow’s full-scale invasion
Stay informed with free updates Simply sign up to the Central banks myFT Digest — delivered directly to your inbox. This article is an on-site version of our Chris Giles on Central Banks newsletter. Sign up here to get the newsletter sent straight to your inbox every Tuesday Wages matter. Not just for living standards,
Stay informed with free updates Simply sign up to the US politics & policy myFT Digest — delivered directly to your inbox. The US Senate has approved a $95bn national security funding bill including new aid to Ukraine, but the legislation risks languishing in the House of Representatives because of opposition from Donald Trump. The
Stay informed with free updates Simply sign up to the Politics myFT Digest — delivered directly to your inbox. It might be useful to begin with a restatement of Ganesh’s Law. All actors in politics value “radicalism” apart from those who decide elections. Commentators demand it. Activists grow restless and mutinous without it. Politicians themselves
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Russia intends to double the number of its troops stationed along its border with the Baltic states and Finland as it prepares for a potential military conflict with Nato within the next decade, according
Stay informed with free updates Simply sign up to the UK employment myFT Digest — delivered directly to your inbox. UK wage growth eased by less than expected in the three months to December, according to official data that will leave the Bank of England still looking for confirmation that inflation is falling. The annual
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Good news! The US has taken a decisive step towards racial harmony, per the 2020 census: the country has 20mn more people in the “multiracial” group than it did before, thanks to changes to how