Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump has been banned from making disparaging statements about potential witnesses, jurors or prosecutors in his upcoming “hush money” trial, after a judge ruled the former US president’s posts could torpedo the case. The
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A massive new-issue slate was the focus Tuesday, with investors digesting three large general obligation deals out of California, New York City and Washington, amid lighter but slightly weaker secondary trading. The onslaught of new-issuance and approaching month- and quarter-end led triple-A yields to rise up to seven basis points on the short end and
Houston would be able to accommodate the cost of a proposed settlement with its firefighters in the near term, but will need a revenue boost to prevent a structural budget gap from growing, City Controller Chris Hollins said Tuesday. Hollins, who took office in January, said he will have to certify if funds are available
Adam Neumann of WeWork and Victor Fung Kwok-king, right, chairman of Fung Group, attend a signing ceremony at WeWork’s Weihai Road location on April 12, 2018 in Shanghai, China. Jackal Pan | Visual China Group | Getty Images Adam Neumann has submitted an unsolicited bid in excess of $500 million to acquire WeWork out of
New Jersey’s Transportation Trust Fund has been fully funded for another five years under legislation signed by Gov. Phil Murphy on Tuesday. The move provides billions of dollars to modernize and maintain the state’s transportation infrastructure. The law also provides additional capital funding to NJ TRANSIT to support local and county projects. “New Jersey sits
The Regents of the University of California plan to officially close its deal that redeems outstanding Build America Bonds via an extraordinary redemption provision despite the threat of an investor lawsuit. The Regents said in a supplement to its official offering statement they plan to proceed with the issuance of 2024 Series BV bonds, which
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. NatWest Group’s new chief executive Paul Thwaite has slashed his executive committee to remove “unnecessary complexity” as the bank embarks on an era without the UK government as a controlling shareholder and prepares for a
Are we witnessing the return of fascism? Is Donald Trump, to take the most important contemporary example, a fascist? Is France’s Marine Le Pen? Or Hungary’s Viktor Orbán? The answer depends on what one means by “fascism”. But what we are now seeing is not just authoritarianism. It is authoritarianism with fascistic characteristics. We must
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israeli officials on Tuesday lashed out at a UN Security Council resolution calling for a ceasefire in Gaza, claiming it had encouraged Hamas to reject a deal to free the Israeli hostages it is holding
S&P Global Ratings affirmed its A-minus underlying rating and negative outlook for Texas-based IDEA Public Schools, while warning of potential governance risk associated with the state’s appointment of conservators that could lead to a downgrade. Under a settlement agreement announced earlier this month with the Texas Education Agency (TEA), two conservators will oversee and direct
Tragedy struck a main span of the Key Bridge in the Baltimore Inner Harbor at 1:30 am Tuesday when the Singapore-flagged container vessel Dali crashed into a bridge support, toppling the bond-financed toll bridge. As of this morning, six people are missing in the catastrophe that is currently being attributed to the freighter losing power
During a 35-year career climbing from a trading desk to Oppenheimer & Co. Inc’s head of public finance, Elizabeth Coolidge has seen, and helped foster, an improved atmosphere for women across the public finance industry. Starting out in 1988 at a trading desk, “you had to have a really thick skin,” Coolidge said. “The things
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Once again, Donald Trump is defying the establishment. The blank cheque merger phenomenon that swept US capital markets during the pandemic has largely abated. Cash shell companies brought a series of immature businesses to public
Less than a year after the Taliban retook power in Afghanistan following the US’s chaotic 2021 withdrawal, President Joe Biden vowed the country that once harboured Osama bin Laden would “never again . . . become a terrorist safe haven”. Yet a surge in international terrorist threats linked to Afghanistan is raising alarm among governments that the country that
BlackRock CEO Larry Fink Taylor Hill | Getty Images Entertainment | Getty Images BlackRock Chairman Larry Fink said capital markets can help solve a crisis brewing around the ability of Americans to afford retirement as lifespans elongate, and for the government to provide a basic safety net. In his annual letter to shareholders, Fink called
S&P Global Ratings on Monday raised New Hampshire’s $661.5 million of outstanding general obligation bonds to AA-plus from AA. S&P also raised the state’s $200 million Transportation Infrastructure Finance and Innovation Act (TIFIA) loan with the U.S. Department of Transportation. The New Hampshire State House in Concord. S&P Global Ratings on Monday raised New Hampshire’s
Moody’s Ratings on Friday raised Detroit’s issuer and general obligation unlimited tax bond ratings to Baa2 from Ba1, a major milestone for the city, which has waited 15 years to return to investment-grade status. It’s been just over a decade since Detroit filed for bankruptcy and defaulted on its bond debt. In December 2014, the
Stadium financing, a cap on local lease revenue bonds, and an effort to preserve the state’s largest coal-fired power plant were some of the measures signed last week by Utah Gov. Spencer Cox. The Republican-controlled legislature ended its session March 1, passing a $29.4 billion budget for the fiscal year that begins July 1, as
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares in Donald Trump’s social media business rose 26 per cent ahead of its New York market debut on Tuesday, valuing the former US president’s stake at about $5bn as he faces massive legal bills.
Stay informed with free updates Simply sign up to the Geopolitics myFT Digest — delivered directly to your inbox. Not enough is said about the other Donald T. Having led Poland between 2007 and 2014, Donald Tusk can take some credit as his nation approaches western European standards of living. Now in his second stint,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The world faces a looming “retirement crisis” that requires a rethink of pensions and working patterns as medical breakthroughs boost longevity, BlackRock chief executive Larry Fink warned on Tuesday in his closely watched annual letter
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