Stay informed with free updates Simply sign up to the UK house prices myFT Digest — delivered directly to your inbox. When Rishi Sunak, then Chancellor, announced a new mortgage guarantee scheme in early 2021 it was, he said, going to “turn generation rent into generation buy”. It will shock you to learn it didn’t
It was laziness that Leon Hess said pushed him into the oil game. In 1933, tired of lugging sacks of coal around New Jersey, he bought a used truck and began a heating oil delivery business. Nine decades later, his son John sold the company to Chevron for $53bn this week, in one of the
A clerk of ICBC bank counts Chinese 100 yuan at its branch in Beijing. Kim Kyung-Hoon | Reuters BEIJING — Chinese authorities late Tuesday announced one of the biggest changes to the national budget in years, along with the issuance of 1 trillion yuan in ($137 billion) in government bonds. But state media made it
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Saudi Arabia’s energy minister Prince Abdulaziz bin Salman thinks that the return of the oil mega-deal is “testament” that “hydrocarbons are here to stay”. His view, echoed by many in the oil sector, is why
Early last summer, Adam Yedidia took Sam Bankman-Fried to one side after a game of paddle tennis. In the shadow of a hut in the grounds of the Bahamian penthouse they and others shared, he asked the crypto tycoon: “Are we OK?” Yedidia told a New York court this month that he was worried FTX,
The US is using Israel’s delay in launching a ground offensive in Gaza to rush defensive systems into the region amid growing fears that Iran and its proxies will escalate attacks on US forces and allied interests once the invasion begins, according to officials. The move to stiffen its security in the region and build
Despite swirling rumors on social media, ARK Invest’s spot Bitcoin (BTC) exchange-traded fund (ETF) does not appear to be listed on the Depository Trust and Clearing Corporation’s (DTCC) website. On Oct. 25, numerous high-profile crypto accounts on X (Twitter) including Mike Alfred, Bitcoin News, Simply Bitcoin, Crypto News Alerts and others posted tweets and screenshots
Bitcoin’s (BTC) price will increase 74.1% in the first year after spot Bitcoin exchange-traded funds (ETFs) are launched in the United States, according to estimates from crypto investment firm Galaxy Digital. In an Oct. 24 blog post, Galaxy Digital research associate Charles Yu estimated the total addressable market size for Bitcoin ETFs would be $14.4 trillion
The ticker for BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) IBTC has reappeared on the Depository Trust and Clearing Corporation’s (DTCC) website after disappearing for a few hours. The price of Bitcoin surged to new yearly highs following the Oct. 23 surprise appearance of IBTC on the website with markets frenzied over the sign of
© Brent Lewin/Bloomberg Snap beat expectations to post a 5 per cent sales rise in the third quarter, reversing two quarters of declines, but warned that the Israel-Hamas conflict was hurting its revenues in the current quarter. Revenue at the social media company rose to $1.189bn, above analysts’ expectations of an increase to $1.11bn —
Stay informed with free updates Simply sign up to the US politics & policy myFT Digest — delivered directly to your inbox. Donald Trump has torpedoed Tom Emmer’s bid to become Speaker of the House of Representatives, compounding the chaos that has gripped Capitol Hill for weeks and leaving the Republican party with no clear
Municipals were slightly firmer Tuesday as large deals priced in the primary saw yields lowered upon repricing. U.S. Treasuries were firmer out long and equities rallied. The two-year muni-to-Treasury ratio Tuesday was at 71%, the three-year was at 72%, the five-year at 72%, the 10-year at 74% and the 30-year at 91%, according to Refinitiv
Municipal budgets are showing resilience which could dampen the need for issuing new debt, even as headwinds have grown to include congressional stalemate that has put the possibility of a government shutdown back on the table. “A federal shutdown has many ripple effects,” said Farhadi Omeyr, program director, Research and Data, National League of Cities.
Crypto exchange dYdX has published the open source code for its new Cosmos-based network of the same name, according to an October 23 blog post. The new code includes the “protocol, order book, front-end, and more,” the post stated. The publication of the code is intended to pave the way for a mainnet launch, which
Bitcoin (BTC) price currently battles to hold the $34,000 level after a stellar rally and short squeeze saw its price push above $35,000 on Oct. 23. In an Oct. 24 market update, Capriole Investments founder Charles Edwards noted that after 7 months of consolidation, Bitcoin’s upward move melted the $32,000 resistance “like butter” and he
A long-delayed U.S. pilot program that would charge drivers by the distance they travel will finally advance with the establishment of an advisory board to oversee the program. But that’s likely not soon enough to help inform Congress about the feasibility of the charges when lawmakers craft the next surface transportation reauthorization bill in 2026
San Francisco City Administrator Carmen Chu started her keynote speech at last week’s California Public Finance with a love letter to the city. In the letter with which she opened her speech, she described the city as if it were a person that sometimes let her down, but also one that contained the ingredients and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former Conservative party chair Sir Brandon Lewis has taken a job advising an investment company set up and still partly owned by two sanctioned Russian oligarchs. Lewis, a Tory MP, will join LetterOne, a London-based
Israel has yet to agree a detailed plan for postwar Gaza, raising fears within its unity government and in Washington that a land invasion against Hamas could begin without adequate preparation for its aftermath. Several people familiar with the deliberations described Israel embarking on a sprawling and ongoing effort, involving multiple Israeli military bodies and
The Chicago Board of Education plans to bring its general obligation bond credit to the market this week for the first time since the Federal Reserve began pushing up interest rates. The $600 million of GO bonds are secured by the full faith and credit and taxing power of the Chicago Board of Education, but
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. Three recent columns asked whether China’s rapid rise in relative gross domestic product and GDP per head was coming to an end, as many believe (or hope). The first argued that China had the potential