Election workers sort mail-in ballots Tuesday in Martinez, California.Bloomberg News California voters were friendly to municipal bonds in Tuesday’s election, with a few notable exceptions. The state’s voters passed two separate $10 billion state bond measures and put their stamp of approval on at least $42.8 billion of local school general obligation bonds. Tuesday’s ballot
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jonathan Powell, Sir Tony Blair’s former chief of staff and an architect of the Northern Ireland peace process, is to become Sir Keir Starmer’s new national security adviser. Powell, a veteran diplomat, will have a
For the world’s manufacturers, Donald Trump’s return to the White House essentially means only one thing: tariff wars. Trump has already threatened 60 per cent tariffs on China imports and blanket 10 or 20 per cent duties on all trading partners including the EU. “If I’m going to be president of this country, I’m going
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When the US economist George Akerlof wrote his Nobel Prize-winning paper on the problem of information asymmetry in business in 1970, his leading example was used car dealers. Akerlof noted that it was impossible for
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world US Treasuries have recovered all the ground lost in a dramatic sell-off sparked by Donald Trump’s election victory, after Federal Reserve chair Jay Powell said it was too early to judge whether the
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China has announced a Rmb10tn ($1.4tn) fiscal package to help shore up its faltering economy, as it braces for increased trade tensions with the US under Donald Trump. Beijing has authorised China’s heavily indebted local
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Investors running bets against renewable energy stocks have racked up profits of more than $1.2bn from the heavy sell-off that swept the sector in the wake of Donald Trump’s US presidential election victory.
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump’s son-in-law, Jared Kushner, will not return to the White House in the new administration but could advise on Middle East policy, according to people familiar with the matter. Kushner was a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Wall Street consiglieri are readying for a rush of new business. Bankers who advise on capital raisings or mergers and acquisitions expect a deluge of fees as Donald Trump returns to the presidency. But some
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world On Tuesday, while the US was voting, I heard a successful American businessman suggest at a dinner that the election could be framed as a choice between prioritising “capitalism” or prioritising “democracy”. During
The blowout victory of Donald Trump and the Republican party on Tuesday night will lead to major changes in important policy areas, from immigration to Ukraine. But the significance of the election extends way beyond these specific issues, and represents a decisive rejection by American voters of liberalism and the particular way that the understanding
Just as president-elect Donald Trump was being voted in on a platform of higher tariffs for China, US businessmen were striking deals thousands of miles away at Shanghai’s biggest trade fair. Dynamite, a family-run pet food business with 12 stores in Idaho, signed $1mn in orders from Chinese company Pawberry — part of a stream
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world US president-elect Donald Trump has chosen Susie Wiles, his 2024 campaign manager, as his White House chief of staff, in the first in a series of important appointments to his new administration. “Susie
Rivian said on Thursday that it expected greater losses for the year, as a shortage of a key part for its motors continued to drag on the electric carmaker. The California company said it will lose between $2.8bn and $2.9bn this year, before interest, taxes, depreciation and amortisation, compared to its previous forecast of a
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Show video info The Federal Reserve cut its benchmark interest rate by a quarter point on Thursday as its chair Jay Powell hailed the strength of the US economy and said he would
Jenniffer González Colón, a supporter of statehood for Puerto Rico, was elected the next governor of the island. Three of the five biggest bond referendums in the Southeast region passed on Tuesday, with voters agreeing to requests from Nashville, Tennessee; Charlotte, North Carolina; and Fairfax County, Virginia, and rejecting them in Cary, North Carolina, and
Oklahoma Turnpike Authority Executive Director Joe Echelle said inflation boosted the cost of every line item in the 15-year ACCESS Oklahoma program.Oklahoma Turnpike Authority The Oklahoma Turnpike Authority authorized on Thursday the issuance of $1 billion of revenue bonds to continue financing the controversial ACCESS Oklahoma expansion program with a projected price tag that has
<img src=”https://public.flourish.studio/visualisation/20192719/thumbnail” width=”100%” alt=”chart visualization” /> Municipals and U.S. Treasuries improved Thursday and equities ended mixed after the Fed cut rates 25 basis points and left the door open for further cuts in December. Triple-A yields fell three to seven basis points Thursday while govies were better by up to 11 basis points, retracing some
Jeffrey Gundlach speaks at the 24th Annual Sohn Investment Conference in New York, May 6, 2019. Adam Jeffery | CNBC DoubleLine Capital CEO Jeffrey Gundlach said Thursday that interest rates could shoot higher if Republicans end up controlling the House, securing a governing trifecta that gives President-elect Donald Trump free rein to spend as he pleases. Gundlach, a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Citigroup is revamping pay for its private bankers in an attempt to boost sales of investment products and overhaul how the group’s struggling wealth division interacts with its wealthy clients. The change, first detailed to
“Going into Election Day, Republicans held 57 legislative chambers nationwide, and Democrats held 41, a Republican edge that we’ve seen nationally since the Tea Party wave in 2010,” said Ben Williams, NCSL. ”We have as of right now, 54 chambers with Republican control, 35 chambers with Democratic control. We have one chamber that looks like it