The abrupt ouster of House Speaker Kevin McCarthy and the battle for his former position now underway carry little direct or immediate effect on the municipal market, but participants agree that the repercussions tilt negative for everyone from issuers to investors and bankers. With the ink barely dry on Saturday’s continuing resolution to keep the
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Receive free Congress of the United States updates We’ll send you a myFT Daily Digest email rounding up the latest Congress of the United States news every morning. Republicans on Capitol Hill began their search for a new leader on Wednesday, a day after a historic rebellion by hardline party members unseated House of Representatives
With mortgage rates higher than they had been in the recent past, plus high home prices and tightening available inventory, America’s real estate market has put prospective homebuyers in a difficult spot. Despite all this, housing markets across the country have remained very active. And, as a result, real estate agents and brokers have remained
Fitch Ratings named Anjali Sharma its global head of business and relationship management (BRM) for public finance and infrastructure, the company announced Wednesday. She replaces Managing Director Ann Flynn who retired this summer after 15 years at the company. Sharma has been a managing director and head of Europe, Middle East, and Africa (EMEA) corporates
A bankrupt Arizona participant sports venue received no qualified bids by last week’s deadline, although other parties are interested in purchasing the venue as the financing to keep it operating nears its end. A filing in U.S. Bankruptcy Court in Arizona late Tuesday on behalf of Legacy Cares, the venue’s owner, said no bids that
Receive free Metro Bank updates We’ll send you a myFT Daily Digest email rounding up the latest Metro Bank news every morning. Metro Bank is seeking to raise up to £600mn after its share price fell almost 50 per cent in recent weeks, said people with knowledge of the plan. The UK challenger bank is
Receive free The FT View updates We’ll send you a myFT Daily Digest email rounding up the latest The FT View news every morning. Rishi Sunak was hailed a year ago as someone who would bring managerial competence to the role of UK prime minister after years of turbulence. Since that approach has failed to
United States 10-year Treasury yields soared above 4.8% on Oct. 3, their highest level since 2007. DoubleLine Capital CEO Jeffrey Gundlach said in a post on X (formerly Twitter) that the spread between the 2-year and 10-year Treasury yields has narrowed from 109 basis points a few months ago to 35 basis points. He cautioned
Rishi Sunak made eye-catching announcements on a raft of different policy areas in his first conference speech as Conservative party leader, but sought to weave them together under a common theme: change. In his keynote address on Wednesday, the UK prime minister cancelled the northern leg of HS2 and redirected the £36bn of savings into
A small city in Missouri could see its credit rating cut to junk by S&P Global Ratings because of financial woes plaguing a local ice rink backed by municipal debt. The St. Louis suburb of Maryland Heights, home to 28,000 residents, currently has a BBB-minus rating, just one rung above junk. A slew of S&P
Former U.S. President Donald Trump appears in the courtroom with his lawyers for his civil fraud trial at New York State Supreme Court on October 03, 2023 in New York City. Seth Wenig | Getty Images Former President Donald Trump on Wednesday returned to court for the third day of his $250 million business fraud
Bitcoin (BTC) stayed glued to $27,500 at the Oct. 4 Wall Street open as attention continued to focus on rampant United States yields. BTC/USD 1-hour chart. Source: TradingView Analysis: $27,000 now “key” for BTC price Data from Cointelegraph Markets Pro and TradingView showed a calm day for BTC price action while U.S. dollar volatility ruled.
For the second time in as many weeks, the New York Metropolitan Transportation Authority has gotten some good news. S&P Global Ratings on Tuesday raised its long-term rating and underlying rating (SPUR) on the MTA’s transportation revenue bonds (TRBs) to A-minus from BBB-plus. S&P upgraded the long-term component of its dual ratings on various MTA
Receive free Rishi Sunak updates We’ll send you a myFT Daily Digest email rounding up the latest Rishi Sunak news every morning. Politicians and pundits like patterns. So we see an embattled government after 13 years in power and debate whether the next election will mirror that of 1992, 1997 or 2010. Our choice points
Rishi Sunak axed the northern leg of the HS2 high-speed rail line to Manchester, promised sweeping education reforms and announced a smoking crackdown as he told the Conservative party conference he would take “radical” decisions to change Britain. The prime minister argued that £36bn could be saved by scrapping HS2 north of Birmingham, and that
El Salvador officially launched its first local Bitcoin (BTC) mining pool as the Volcano Energy project begins mining blocks through Lava Pool in partnership with Luxor Technology. The Bitcoin-friendly country’s $1 billion renewable energy project made headlines earlier in 2023, with stablecoin issuer Tether among companies investing in the project that plans to generate electricity from
Cryptocurrency mining in Uzbekistan is overcoming major changes as the country’s major crypto market supervisor has approved a framework for licensing crypto mining operations. Uzbekistan’s National Agency for Perspective Projects (NAPP) issued a decree on licensing cryptocurrency mining operations, limiting such activities exclusively to legal entities. Apart from banning individual miners’ operations, the NAPP has
Blockchain data analysts from Nansen have revisited the days leading up to the collapse of FTX, including the transfer of $4.1 billion worth of FTT tokens between the exchange and Alameda Research. A Nansen report shared with Cointelegraph reveals unique observations from the blockchain analytics firm, highlighting the close relationship between the two companies founded
Receive free US Treasury bonds updates We’ll send you a myFT Daily Digest email rounding up the latest US Treasury bonds news every morning. Bond yields on both sides of the Atlantic touched their highest levels for more than a decade on Wednesday as a sell-off in global fixed income continued. Yields on benchmark 10-year
In Cuba’s capital, Havana, a Bitcoin community has emerged from an economically antagonistic environment.“Satoshi didn’t create Bitcoin for Cubans, but it really comes in handy for us,” Forte, co-founder of the aptly named local Bitcoin organization Cuba Bitcoin, tells Magazine. Cubans are turning to Bitcoin because their money is increasingly worthless. Zimbabwe, Venezuela and Lebanon
The Open Network (TON), a decentralized blockchain platform originally designed by Telegram, has secured major funding from the venture arm of the cryptocurrency exchange MEXC. TON has raised an eight-figure investment from MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange MEXC, the firm announced on Oct. 4. In conjunction with funding, MEXC and the