Municipals were mixed ahead of a new-issue calendar that rebounds to more than $9 billion. U.S. Treasury yields rose further Friday as the December jobs report cast doubt on whether the Fed would start cutting rates in March. Equities were up near the close. There was already “significant upward pressure” on Treasury yields in recent
The burnt-out wreckage of a Japan Airlines plane at Tokyo’s Haneda airport was a sobering reminder that many of aviation’s worst accidents happen on the ground rather than in the air. Safety investigators spent the week probing the sequence of events that led to a collision between the JAL Airbus A350 and a smaller coastguard
As government funding deadlines loom just weeks away, cities and states face fallout from federal aid cuts, the claw back of pandemic funds and reductions in the always-vulnerable Build America Bond subsidies. The federal government is currently operating under a pair of short-term continuing resolutions that expire within weeks. The departments of Agriculture, Veterans Affairs,
The U.S. District Court for Puerto Rico ended a Puerto Rico Electric Power Authority bondholder discrimination adversary proceeding, asking parties to raise the issues they have during the plan of adjustment confirmation hearing planned to in early March. District Court Judge Laura Taylor Swain stayed the proceeding while saying plaintiffs GoldenTree and Syncora Guarantee should
David Elgart, former president and chief compliance officer of the now defunct Roswell, Georgia-based Sequoia Investments has agreed to settle charges with the Financial Industry Regulatory Authority for his role in acting as an unregistered dealer between May 2020 and May 2021, accepting a suspended fine. Without admitting or denying the findings, Elgart consented to
For close to a century, Toyota prided itself on its ability to constantly trim the costs of making its complex, highly engineered vehicles. But when Takero Kato, the head of the Toyota division tasked with building electric vehicles, travelled through China in 2018 he was shocked by what he found. “For the first time, I
Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. Tax experts have taken to social media in an effort to reassure panicking UK gig economy workers and online sellers over new reporting rules affecting the digital platforms they use. Under regulations that came into
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former Tory minister Chris Skidmore is quitting as an MP in protest at the UK government’s plans to drill for more North Sea oil, in a move that leaves the Conservatives facing another difficult by-election.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. It is, on the face of it, a paradox. Markets in October were mired in pessimism as inflation remained stubbornly high and investors feared that central banks would keep policy interest rates higher for longer.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is director of regional security at the International Institute for Strategic Studies In the Middle East, wars do not stay within state boundaries. The underlying emotions and grievances, foreign interference, absence of a
Omar Marques | Lightrocket | Getty Images Crypto investors are eagerly awaiting an imminent ruling from the SEC that will likely approve the trading of a spot bitcoin ETF, more than a decade after initial attempts were rejected. 13 companies have filed for a spot bitcoin ETF: Grayscale Bitcoin Trust Ark/21 Shares Bitcoin Trust Bitwise
Former U.S. President Donald Trump attends the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, at a Manhattan courthouse, in New York City, U.S., October 3, 2023. Shannon Stapleton | Reuters The New York attorney general on Friday asked a
Howard Davies, chairman of Natwest Group Plc. Bloomberg | Getty Images The chair of one of Britain’s biggest banks faced a backlash Friday after saying it is not “that difficult” to get on the property ladder. NatWest chair Howard Davies told the BBC’s “Today” program that the current economic landscape — which has seen interest
From baby bonds to pension funding, 2023 was a year for progress in Connecticut, according to the annual report released Wednesday by State Treasurer Erick Russell. “The work done by our agency often focuses on the long-term — sustained investment success, low-cost infrastructure funding, helping families save for college, and now our landmark ‘CT Baby
Continued financial pressure will impact the nonprofit healthcare system in 2024, Fitch Ratings and S&P Global Ratings analysts said Thursday. “We think we have another tough year ahead of us,” Fitch Senior Director Kevin Holloran said during a webinar. Despite some positives, such as an increase in demand, labor costs remain a major problem for
Benjamin Netanyahu’s allies have privately hit out at Israel’s military leadership for moving ahead with an October 7 probe, laying bare tensions over failures before the devastating Hamas attack. Israel’s top general told the prime minister’s security cabinet on Thursday night the military would establish a committee to investigate intelligence and operational problems, sparking a
Moody’s Investors Service revised the New York State Thruway Authority’s outlook to positive from stable on Thursday. Moody’s also affirmed the A1 rating on the authority’s $3.2 billion of outstanding general revenue bonds and the A2 rating on the $2.5 billion of outstanding general revenue junior indebtedness obligations. Travelers see a sign for the Ardsley
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The young woman next to me buried her face in her hoodie while her two friends clutched each other, and their pints, with a nervous anticipation. Darts fever had gripped the UK — at least it
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. Zhongzhi, the conglomerate at the centre of China’s $3tn shadow banking market, has filed for bankruptcy, saying that it was “severely insolvent”. A Beijing court accepted a bankruptcy and liquidation application from Zhongzhi
Jack’s Brasserie in Bern, founded in 1911, is the canteen of Swiss power. Here, between chandeliers and white tablecloths, five minutes’ walk from the federal parliament, corporate lobbyists schmooze politicians — insofar as it’s necessary to charm Swiss politicians into helping corporations. Giuliano da Empoli is an Italian whose bestselling debut novel about Russia’s political
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Last month the chief of Saudi Arabia’s sovereign wealth fund struck the gong of the Hong Kong stock market. In doing so Yasir al-Rumayyan was not just marking the exchange’s opening that day, but also