Transportation Secretary Pete Buttigieg joined a bevy of state, federal and company officials in Las Vegas Monday to celebrate the long-awaited groundbreaking of Brightline West, a $12 billion privately owned passenger line that is vying to become the nation’s first high-speed train that advocates say will help launch similar projects across the country. “We are
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. Policy “inconsistency” in China is discouraging foreign investors despite Beijing’s efforts to reassure international companies, a leading American business lobby group has said. China’s President Xi Jinping last month sought to boost confidence
Los Angeles Mayor Karen Bass has proposed $293 million of departmental cuts in her fiscal 2024-25 budget as well as the elimination of thousands of vacant city positions to close a budget gap after revenues failed to meet expectations. The mayor’s proposed $12.8 billion spending plan would close a $467 million deficit by eliminating 2,139
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Police have arrested a staffer working for a German far-right member of the European parliament on charges of spying for China. Jian Guo, an employee of Maximilian Krah, was accused by Germany’s federal prosecutor on
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK grocery price inflation fell to a 30-month low in April, according to data that pointed to an easing of the cost of living crisis that has hit millions of households since late 2021. Grocery
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Container ports around the western Mediterranean are nearing full capacity, raising the risk of higher inventory costs and component shortages for Europe’s retailers and manufacturers in the latest challenge to the region’s supply chains. Port
Jeff Yass’s Susquehanna International Group first invested $80,000 in ByteDance, the Chinese owner of TikTok, on the back of an idea sketched on a napkin in a Beijing coffee shop more than a decade ago. His global quantitative trading firm followed up with another $2mn months later, becoming the first big backer of ByteDance founder
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Revolut is exploring plans to monetise customer data through sharing it with advertising partners, as the fintech seeks new sources of revenue while its application for a UK banking licence remains in limbo. “We could
In 1973 and 1979 war in Israel and turmoil in Iran twice ruptured the oil market, triggering an inflationary surge that sapped western economies and unseated a US president. In the decades since, the possibility that new strife in the Middle East could deliver another administration-ending jump in oil and petrol prices has hung like
Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. Economic policy in many countries has entered a new era of supports and subsidies. But global financial markets have yet to catch up. Consider some of the headlines over the past week or so. At
Like hundreds of thousands of homebuyers in the UK every year, Steve didn’t think twice before applying for a short-term fixed-rate mortgage. It was only when his application was rejected on a technicality that the Somerset-based IT professional looked for other options. A mortgage broker suggested he try a new lender called Perenna. He was
Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. Traders have built up bets that the Federal Reserve could raise interest rates again, a once-unthinkable prospect that highlights a shift in market expectations after stronger than expected US economic data and hawkish comments
In recent days, both the UK’s ruling Conservative party and the opposition Labour party have rebuffed an EU offer to open talks on an bloc-wide “youth mobility scheme”. The rejection comes despite successive Tory governments trying to negotiate bilateral agreements with several big EU countries, while Labour has promised to deepen relations with Europe if
The sight of a scowling Donald Trump sitting in a New York courtroom, flanked by lawyers, is by now so common that it no longer surprises. Still, there was an added, unspoken tension when the former — and perhaps future — US president appeared in Manhattan criminal court on Monday morning. The charges he was
Stay informed with free updates Simply sign up to the Retail & Consumer industry myFT Digest — delivered directly to your inbox. The Federal Trade Commission has sued to block US luxury goods group Tapestry’s $8.5bn acquisition of Capri Holdings, a move that threatens a bid to create a US rival to European giants LVMH
The Federal Trade Commission has sued to block US luxury goods group Tapestry’s $8.5bn acquisition of Capri Holdings, a move that threatens a bid to create a US rival to European giants LVMH and Kering. The antitrust regulator on Monday alleged that the acquisition would eliminate “head-to-head” competition among the groups’ brands, including Capri’s Michael
Fitch Ratings affirmed both Miami Jewish Health Systems and Subsidiaries long-term issuer default ratings and the the city of Miami Health Facilities Authority’s $41 million of Series 2017 revenue bonds issued by on behalf of MJHS at speculative-grade BB-plus. The rating outlook on both is negative, Fitch said. “The affirmation reflects good growth in the
Municipals were steady Monday ahead of one of the largest new-issue calendar so far this year while U.S. Treasuries were little changed and equities ended up. April continues to be a “tough month” for munis as the asset class has seen month-to-date losses of 1.02%, bringing year-to-date losses to 1.40%, said Jason Wong, vice president
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Goldman Sachs has moved its top investment banker for European financial companies from London to Paris, as the Wall Street bank finalises its post-Brexit relocation plans. Dirk Lievens, who is head of Goldman’s financial institutions
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Real estate is increasingly a tale of two markets — a luxury sector that’s booming, and the rest of the market that continues to struggle with higher rates and low inventory. Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin.
Britain’s top financial regulator on Monday faced mounting pressure to abandon its plan to “name and shame” companies under investigation, with claims the move would undermine the City of London and unfairly tarnish reputations. Bim Afolami, City minister, said the Treasury was engaging with the Financial Conduct Authority over its plan, amid growing concerns in