The recently announced sale of the National Hockey League’s Arizona Coyotes and the team’s move to Utah could lead to bond issuances for arena projects in both states. Under a plan approved by the NHL Board of Governors last week, the team, which had been unable to secure a permanent arena in Arizona, was sold
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The U.S. Virgin Islands Legislature complained about the governor’s lack of consultation before he declared a state of emergency to pay off Water and Power Authority debts. The legislature gathered Tuesday to express its concerns about Gov. Albert Bryan’s Monday action, which used the emergency declaration to authorize spending the government’s rainy-day funds for WAPA
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. President Joe Biden signed a highly anticipated $95bn foreign aid bill on Wednesday, triggering a move by the Pentagon to rush $1bn in new weapons to Kyiv from US stockpiles, including much-needed air defence
Citi‘s exit from the municipal business late last year, on the heels of UBS‘ closure of its negotiated underwriting business in October, has brought about a redistribution of high-level bankers, traders and other market players to a broad range of municipal firms that is leading to an evolved muni market landscape in 2024. Word of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Boeing burnt through almost $4bn of cash in the first quarter, reflecting slower 737 Max production and compensation to customers as the US plane maker grappled with the aftermath of the mid-air accident in January.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. KPMG has revoked job offers to some foreign graduates in the UK after the government tightened visa rules for overseas workers in an effort to cut record immigration. The Big Four firm, one of the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. If there is anything close to an iron law in politics it is that people will not vote for parties that do not seem to like them. Yet Britain’s Conservatives often seem to dislike much
Chicago’s City Council on Friday approved the issuance of $1.25 billion of bonds to fund affordable housing and economic development programs after debating the measure for the past month. Rather than raising property taxes, the city will let about 45 tax increment financing districts expire and, once the tax revenue from those districts returns to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. JPMorgan Chase chief executive Jamie Dimon said the US economy was “booming” but warned that he was “on the cautious side” of there being a soft landing. In a wide-ranging interview on Tuesday at the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Watch carefully and you can see the Republican party forming a circular firing squad. The trigger was last weekend’s much delayed vote for $61bn in Ukraine aid. Republicans were divided almost evenly. The difference between
A residential real estate sold sign is seen in Washington, D.C. Brendan Smialowski | AFP | Getty Images Mortgage rates rose for the third straight week last week, hitting the highest level since November. As a result, mortgage application demand dropped 2.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted
In the last week of February, a large billboard appeared across the street from Mike Johnson’s home church in Benton, Louisiana. “For such a time as this,” it read, quoting a Bible verse alongside an image of a damaged Baptist church in Berdyansk, Ukraine. It addressed Johnson by name. The advertisement was paid for by
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Schroders has kicked off a search for a successor to its chief executive Peter Harrison, who is preparing to retire as the boss of the UK’s largest asset manager after eight years. The £750.6bn FTSE
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Can there be too much transparency? The UK’s Financial Conduct Authority is under pressure to pause plans to name companies when it opens investigations. At present, it only does this in exceptional cases. Unsurprisingly, the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Brussels has raided a Chinese security equipment supplier, deploying new anti-foreign subsidy powers in a move that will further inflame tensions between the trading superpowers ahead of a planned visit by President Xi Jinping to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Diamonds may be forever but they are also seriously on sale. Natural rough diamond prices have collapsed 26 per cent in the past couple of years. Tepid US and Chinese demand for diamond jewellery hasn’t
With a spate of high-profile arrests of suspected Chinese and Russian spies in recent days, Germany’s counter-intelligence agents, once criticised for their lack of mettle, may have come in from the cold. On Tuesday morning, German police swooped on Jian Guo, a staffer working in the European parliament, accused by prosecutors of spying for China.
Stay informed with free updates Simply sign up to the Financial services myFT Digest — delivered directly to your inbox. The writer is an FT contributing editor Britain is second only to the US as a centre for asset management. The business is fabulously profitable and employs tens of thousands in highly paid jobs. But
In March 2021, an official at Warrington Borough Council in the north of England listened to a pitch to invest in a commercial building 75 miles away in Birmingham. Warrington invested £10mn. The stake is now worth £1.3mn. The matchmaker for the troubled deal between the real estate firm behind the scheme M7 Real Estate
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US app stores will be banned from carrying TikTok in 270 days unless its Chinese owner sells the video-sharing platform after Congress passed a security package that includes measures to counter threats from China. The
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. The US Senate has approved a $95bn bill delivering security aid to Ukraine, Israel and the Indo-Pacific region, after it drew overwhelming bipartisan support in a boost to Joe Biden’s top foreign policy priorities.
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