A private equity firm’s co-president and partner has been tapped to fill one of the two vacancies on the Puerto Rico Oversight Board. President Joe Biden said Thursday he will appoint Juan Sabater, a partner and co-president of Valor Equity Partners, to the seven-member board. “I look forward to working with Juan Sabater on our
Stay informed with free updates Simply sign up to the US equities myFT Digest — delivered directly to your inbox. Wall Street stocks hit an all-time high on Friday, with strong gains for large technology companies finally pushing the index to a new record after a shaky start to the year. The S&P 500, the
A Congress that just narrowly avoided a government shutdown is getting a fresh wish list from a wide cross section of organizations of issuers, including calls for preserving the tax exemption on municipal bonds. The letter originates from the Public Finance Network, which encompasses twenty-four issuer organizations including the Government Finance Officers Association, the National
Federal transportation and housing funding will continue to flow until early March after Congress late Thursday passed a short-term appropriations bill a day ahead of a partial government shutdown. “There will not be a shutdown on Friday,” said Senate Majority Leader Chuck Schumer, D-N.Y. “Because both sides have worked together, the government will stay open.
William “Bill” Edward Laverty, 72, died in Vero Beach, Florida, Dec. 18, 2023. He died of natural causes several years after being diagnosed with frontotemporal dementia. Mr. Laverty spent most of his life living and working in New York City as a municipal bond underwriter for several Wall Street firms. Mr. Laverty worked as a
Sioux Falls, South Dakota, has put out a request for competitive sealed proposals from financial advisory firms as it gears up for several major capital projects. The RFP aims to forge a multi-year, multi-issuance agreement for services around debt issuance, debt refinancing, debt reporting and other financial market-related work. Proposals are due no later than
Stay informed with free updates Simply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox. Stellantis boss Carlos Tavares has warned carmakers cutting electric vehicle prices too fast risked a “bloodbath” in the industry, hours after Ford said it was reducing production of its battery-powered F-150 Lightning pick-up truck because
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Until this week, the UK economy looked increasingly set for a smooth “soft landing”, with inflation dropping sharply and early signs of growth picking up. But data releases in the past few days have added
A delivery man delivers packages in a Los Angeles neighborhood on January 17, 2024. Frederic J. Brown | AFP | Getty Images Sales of previously owned homes fell 1% in December compared with November to a seasonally adjusted annualized rate of 3.78 million units, according to the National Association of Realtors. Sales were 6.2% lower
Siebert Williams Shank has formed a six-person quantitative solutions group to be headed by public finance industry veteran Giles Nicholson. Siebert said the hire highlights the firm’s steadfast and growing commitment to expand its public finance practice. “Hiring Giles along with other senior and experienced hires over the last year demonstrates our deep commitment to
This article is an on-site version of our Swamp Notes newsletter. Sign up here to get the newsletter sent straight to your inbox every Monday and Friday It is easy to dismiss the 45 per cent or more of America that would vote for Donald Trump as mad or bad. There are plenty of both,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is the UK government’s former chief digital officer and a founding partner at Public Digital The Post Office-Horizon affair is a human tragedy and a humiliation for the British establishment. Without a radical
Stay informed with free updates Simply sign up to the German economy myFT Digest — delivered directly to your inbox. Germany is the “tired man” of Europe in need of “a strong cup of coffee”, the country’s finance minister said on Friday, arguing the recent economic downturn was a useful wake-up call to enable the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The German parliament has passed a law that will make it easier for foreigners to acquire citizenship, as Berlin looks to immigration to solve a dire shortage of skilled workers. Under the law, passed by
Two public finance professionals helped craft legislation that added whole categories of residential care facilities to the list of borrowers eligible to issue debt through the California Health Facilities Financing Authority. Assembly Bill 839, authored by Assemblymember Dawn Addis, D-Morro Bay, and signed by Gov. Gavin Newsom in October, allows nonprofits that operate independent living,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mexico and Chile have asked the International Criminal Court to investigate possible crimes committed during Hamas’s attack on Israel and the Jewish state’s subsequent invasion of Gaza. The move is the latest sign of mounting
A sharp divide in Israel’s war leadership has broken into the open after former military chief Gadi Eisenkot called for elections within months and said the government was not being truthful with the public about its offensive against Hamas. A blunt television interview, in which Eisenkot also declined to say that he trusted Israeli Prime
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Anyone who recently insured their car was probably shocked by the sharp rise in the cost of driving. Even drivers with long records of accident-free motoring have faced sudden jumps in prices for the policies
Stay informed with free updates Simply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox. China has said it will rein in expansion of the country’s electric vehicle sector, as Beijing responds to western criticism of its industrial and trade policies that have contributed to a wave of Chinese car
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. British retail sales plummeted in December, marking the biggest decline in nearly three years and raising the risk that the UK economy slipped into a technical recession at the end of last year. The quantity
Last week’s launch of the FT’s annual stock picking contest prompted a flurry of emails from readers. The purpose of the competition is educational — we want to encourage more people to get into investing. However, some of you are (quite rightly) concerned that trying to select the best or worst performing shares in 2024