The U.S. District Court’s interpretation gave more to Puerto Rico Electric Power Authority bondholders than legally allowed, the Puerto Rico Oversight Board told the First Circuit Court of Appeals. Not only are the bondholders wrong in claiming a lien on all revenues coming to PREPA but District Judge Laura Taylor Swain was wrong in awarding
Stay informed with free updates Simply sign up to the ESG investing myFT Digest — delivered directly to your inbox. Launches of funds claiming environmental, social or governance attributes all but dried up in the past six months, as investors baulked at increased scrutiny of sustainability claims by companies and asset managers. Just six funds
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government awarded billions of pounds of contracts involving Fujitsu on Rishi Sunak’s watch after the Japanese company’s software was found to be at fault in the Post Office scandal in a landmark 2019
The municipal bond market is taking a wait and see approach about the departure of Mitch Landrieu, who has been operating under the unofficial title of “infrastructure czar,” as he prepares for a new role on President Biden’s campaign staff. According to the Biden administration Landrieu oversaw, “over 40,000 infrastructure projects spread across 4,500 communities
The simmering debate over the definition of “obligation” that’s key for cities and states managing $350 billion of pandemic funds has boiled over again after Treasury released a revised definition that Republicans slam as “mind-bending” and “confounding,” and that even has issuer groups concerned about confusion and the need to backtrack to re-do previous reporting.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The dramatic blowout of a section of the fuselage on an Alaska Airlines flight has put the focus back on Boeing’s 737 Max — the US company’s most popular plane and also its biggest source
The outlook on Phoenix-based Grand Canyon University’s junk bond rating was revised on Monday to negative from stable by Moody’s Investors Service amid the school’s ongoing clash with federal regulators. Moody’s said while its Ba1 rating incorporates GCU’s “substantial scale, enrollment growth trend, and adequate operating performance,” several factors led to the outlook change. The
A for sale sign hangs outside a home on the west side of Detroit, Michigan. Fabrizio Costantini | Bloomberg | Getty Images Home prices are rising faster and faster each month, fueled by a decline in mortgage rates. On a national level, home prices jumped 5.2% in November compared with the same mont a year
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The underlying idea of democracy — that governments are accountable to the governed — is still valued in large parts of the world. How else is one to explain the fact that more than half
The Governmental Accounting Standards Board has issued new guidance requiring governments to disclose information related to their own vulnerability, asking governments to disclose certain heightened risks related to concentrations and constraints in government revenue sources and defines those terms to help them do that. “It was in 2020 that we started this project and we
As KBRA enters its 14th year in the business, the rating agency is targeting increased market share, an expansion into new sectors and the expectation for continued growth in 2024. A robust track record, a team approach, and relying on cross-team verticals to provide a qualitative overlay and outside-the-box analysis led the fourth major rating
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Barclays and Santander have announced cuts to their mortgage rates, adding to momentum for cheaper UK home loan deals after HSBC and Halifax reduced rates last week. Santander led its announcement with a sub-4 per
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. French president Emmanuel Macron has promoted his popular 34-year-old education minister Gabriel Attal to prime minister as he seeks to reboot a second term hindered by a fractured parliament. The Élysée Palace confirmed the choice
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump is attending a federal appeals court hearing in Washington on Tuesday to determine whether he is immune from criminal prosecution for his alleged actions while serving in the White House. The oral argument
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Two months ago, ITV thought it had found a way to hijack the UK’s national political conversation: pay arch-Brexiter Nigel Farage £1.5mn to appear on the reality show I’m a Celebrity . . . Get Me Out of Here.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Post Office’s former chief executive Paula Vennells will hand back her CBE after the UK prime minister backed calls for a review into whether she should be stripped of her honour. Vennells said in
Transcription:Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Keeley Webster (00:03): Hi, I am Keeley Webster. Welcome to another bond buyer podcast. Today our focus is on ESG hot topics in the muni world. Today I have with
The onset of the COVID-19 pandemic and shutdowns in 2020 to combat the virus’ spread emptied offices nationwide and Southwest cities are not immune to the lingering effects, which could impact their property tax collections. The return to offices around the U.S. has been gradual as many employees embraced a lifestyle free from commuting. Full
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Last autumn, Rishi Sunak stopped pretending that HS2 was a conscionable use of finite public resources. He wasn’t thanked. In fact, for scrapping the Birmingham to Manchester leg of the high-speed rail line, the prime
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. Sentiment analysis is tablestakes quant stuff these days. Any slack-jawed yokel with a Bloomberg terminal can now systematically parse and trade central banker comments or newspaper chatter. However, most only use exhaust from social media,
UK ministers are examining plans for a blanket exoneration of hundreds of sub-postmasters wrongly convicted in what has been described as the biggest miscarriage of justice in modern British history. Justice secretary Alex Chalk will this week discuss with senior members of the judiciary swifter redress for those prosecuted by the Post Office for theft