Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The X post on the Securities and Exchange Commission’s official account claiming, falsely, that it had approved US spot bitcoin exchange traded funds on Tuesday appears to have been the result of exactly the type
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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 US Securities and Exchange Commission has approved the first spot bitcoin exchange traded funds in a watershed moment that cryptocurrency enthusiasts are betting will draw new retail and institutional investors into the market. The
Chesnot | Getty Images The U.S. Securities and Exchange Commission on Wednesday approved rule changes to allow the creation of bitcoin exchange-traded funds in the U.S., a long-awaited move that will give regular investors access to the controversial and volatile cryptocurrency. The decision will likely lead to the conversion of the Grayscale Bitcoin Trust, which
Municipals continued to experience a short-end correction Wednesday amid a busy day in the primary market which saw Jefferson County, Alabama’s, mega sewer refunding deal price along with a billion-plus of Massachusetts GOs offered to retail. U.S. Treasuries were slightly weaker out long and equities were in the black near the close. The municipal AAA
Jeff Landry was sworn in as the state’s 57th governor on Monday, while John Fleming was sworn in as state treasurer and Elizabeth Baker Murrill took over as state attorney general. In an October election, Landry, a conservative Republican, replaced Democrat John Bel Edwards, who was term-limited out of office. He had been the state attorney
The complex relationship between municipal bond issuance and natural disasters is inspiring political debate and conflicting viewpoints with some experts predicting a tidal surge of issuance. “With or without Congressional intervention, state and local governments are likely to expand medium and long-term borrowing programs to address climate change mitigation and adaptation,” said Tom Doe, president,
The Federal Reserve, financial markets, the upcoming election and artificial intelligence took center stage on Tuesday as roughly 1,300 members of Chicago’s business community crowded into a packed ballroom for the Executives’ Club of Chicago’s Annual Economic Outlook panel. Quoting Warren Buffett, Charlie Munger and Voltaire, the panelists made their predictions for 2024 and shared
The Oklahoma Turnpike Authority, which is undertaking a $5 billion, bond-financed expansion project, will challenge the constitutionality of a 2023 state law that altered its governance structure. The OTA board voted Tuesday to seek judicial review of the law, which stripped the governor of his sole ability to appoint the six-member board, giving two appointments
Idaho Gov. Brad Little announced plans to invest $2 billion in school repairs over the next decade with the dual aim of repairing aging schools and providing property tax relief. His plans, part of his proposed budget outlined in his State of the State speech, would also increase funding for drinking water and bridge repairs.
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. President Joe Biden plans to send a high-level delegation of former top officials to Taipei after the election in Taiwan on Saturday, in a move that could complicate efforts by the US and China to
Stay informed with free updates Simply sign up to the Eurozone economy myFT Digest — delivered directly to your inbox. The eurozone economy looks set for another downturn in the fourth quarter, while a recent pick-up in inflation is expected to persist in the coming months, the vice-president of the European Central Bank has warned.
“The state of our state is strong. Let’s keep doing what works. Let’s continue to make Florida the envy of the nation,” Florida Gov. Ron DeSantis said in his state of the state address before the state Legislature on Tuesday. “My message is simple: Stay the course.” DeSantis blasted the Biden administration for a host of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BrewDog, the UK’s biggest craft beer brewer, has abandoned its pledge to pay all staff the voluntary living wage in a move that points to a broader cooling of wage pressures across the economy. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The prospect of bitcoin exchange traded funds leaves cryptocurrencies teetering on the cusp of mainstream respectability. A fake post this week claiming regulatory approval again illustrates the proliferation of crypto scams. It is certainly an
Stay informed with free updates Simply sign up to the Chinese politics & policy myFT Digest — delivered directly to your inbox. China has warned large swaths of its business world, state sector and ruling Communist party that they face an intensified anti-corruption campaign as President Xi Jinping expands his hallmark crackdown on endemic graft.
It was a merchant sailor’s nightmare: armed men in balaclavas dropping from a helicopter before storming the ship’s bridge, ordering the civilian crew to lie down at gunpoint and cutting all communications. The scene played out late last year on the Galaxy Leader cargo ship, which was seized in the Red Sea by Houthi rebels
Representations of cryptocurrency Bitcoin are placed on a PC motherboard in this illustration taken June 16, 2023. Dado Ruvic | Reuters Crypto investors are waiting for the Securities and Exchange Commission to approve a raft of spot bitcoin applications, likely Wednesday With a spot bitcoin ETF now looking very real, attention is turning to the
Michigan’s Lansing Board of Water and Light plans to sell $350 million of tax-exempt bonds this month in a deal that would fund a tender offer for $232.6 million of outstanding debt. The tender offer covers a portion of BWL’s taxable Series 2019B bonds. The utility is also pursuing a current refunding of $4.3 million
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Fujitsu could face “financial sanctions” to help fund compensation for victims of the Post Office scandal if the Japanese software company is found to be at fault, the postal affairs minister has said. Kevin Hollinrake
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has announced new legislation to overturn the convictions of hundreds of sub-postmasters prosecuted by the Post Office in the Horizon IT scandal. The UK prime minister told the House of Commons on Wednesday
The Massachusetts Municipal Wholesale Electric Company has closed on its first issue of green bonds under its own name to complete the long-term financing of a solar energy project on its Ludlow, Massachusetts, campus. So-called green bonds are earmarked to be used exclusively for climate and environmental projects. The $15 million negotiated deal was underwritten by