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Fitch Ratings upgraded the District of Columbia’s ballpark revenue bonds Series 2006A and 2006B to AA from AA-minus, a development that Washington officials believe highlights the strong current and future position of the unique city. “This Fitch upgrade reflects our financial stability and the strong economic prospects of the district,” said Chief Financial Officer Glen
The town council in Payson, Arizona, rescinded its Aug. 21 approval of $70 million of tax-exempt bonds in the wake of ongoing litigation and opposition to the debt sale from incoming council members.AdobeStock An Arizona town terminated a plan to sell $70 million of bonds despite prevailing in a lawsuit that claimed the debt’s approval
Former director of the Office of State and Local Finance at US Treasury Kent Hiteshew, left, and David Dubrow, a partner at ArentFox Schiff, penned a pair of pieces arguing for direct SEC oversight of issuer disclosure. After decades of what investors see as inadequate disclosure from cities, towns and states, it’s time to consider
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Investors are warning of a lingering “risk premium” in UK government borrowing costs after Rachel Reeves’ Budget sent gilt yields close to their highest levels since the 2008 global financial crisis. The chancellor’s plans to
The U.S. Virgin Islands Supreme Court upheld a 2021 law reshaping the Water and Power Authority’s governing board, a ruling that may be a credit positive for the struggling authority. “Clearly this is a first step in reforming the operations at WAPA,” Muni Credit News Publisher Joseph Krist said last year after an earlier Superior
Unlock the US Election Countdown newsletter for free The stories that matter on money and politics in the race for the White House Show video info Donald Trump has lashed out at Liz Cheney, his Republican critic, as a “radical war hawk” who should have “nine barrels shooting at her”, prompting immediate criticism of his
The US economy added just 12,000 new positions in October, in by far the weakest jobs report of the Biden administration, as the closely watched number was hit hard by hurricanes and the Boeing strike. Friday’s figure, published by the Bureau of Labor Statistics just four days before the US election, was seized upon by
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. “I want to lead the most pro-growth, pro-business Treasury our country has ever seen”. That’s what chancellor Rachel Reeves told business leaders at a Rolls-Royce plant near Derby before the election. After Wednesday’s Budget, some
€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s financial watchdog has warned Crispin Odey that it intends to take action against the hedge fund boss after finding that his response to allegations of sexual misconduct had breached its rules and “lacked
Stay informed with free updates Simply sign up to the Life & Arts myFT Digest — delivered directly to your inbox. Now, that is the real question for all of us. Keir Starmer’s Labour party has come up with this new form of chosen people. These are the elect, the good guys, the ones to
The University of California, Berkeley is one of 10 campuses in the UC system.Bloomberg News The volatility in California’s state tax and revenue structure has its two massive public university systems scrambling. To close a budget gap, state lawmakers cut funding to the University of California and California State University systems in July as part
Big Tech’s capital spending is on track to surpass $200bn this year and rise even further in 2025, as anxiety grows on Wall Street about the returns on soaring investment in artificial intelligence. The four biggest US internet groups — Microsoft, Meta, Amazon and Google’s parent Alphabet — this week offered investors brief glimpses into
Chancellor Rachel Reeves was standing her ground. In the week she dropped a £40bn tax bombshell on Britain and unsettled markets with plans for £28bn of extra annual borrowing, she declared: “What alternative was there?” On the street outside the Treasury the mood was equally resolute. On Wednesday night some 200 of Reeves’ officials toasted
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. GPs, health and social care charities and universities have warned that Labour’s decision to raise employers’ national insurance contributions will lead to job losses and reduced services, as the extent of Budget tax rises became
“I definitely do see a lot fewer Trump signs here than I did in 2020,” said Brandon DiMarco, a life-long resident of Erie, Pennsylvania, on a parkway overlooking the blue expanse of Lake Erie. DiMarco, who works two jobs and is studying to become a financial adviser, voted for Donald Trump in 2020, and had
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK chancellor Rachel Reeves’ plan to borrow more after rewriting the UK’s fiscal rules poses an “additional challenge” to repairing the public finances, rating agency Moody’s warned on Friday. In an assessment of the Labour
€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
While some went gaga this week over the Budget bus fare cap and whether the word “supporters” included an apostrophe, the Lancet published a new Countdown report on health and climate change. It couldn’t be seriouser. Ten of 15 indicators of hazards, exposures or impacts hit record levels last year. For example, global data show
Standard Digital Standard & FT Weekend Print wasnow 38 € per 3 months The new FT Digital Edition: today’s FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app