Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. French luxury group Kering said it expected sharply lower profits in the first half of 2024 compared with the previous year after sales at its top brand Gucci sank. The Paris-based group said that it
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. The course of disinflation never does run smooth. At the end of last year, futures markets had priced in six interest rate cuts for the US in 2024. My own expectations had also become quite
Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. Some banks are unable to quantify their exposure to private equity, the Bank of England has found, in the latest warning that the $8tn industry could threaten the wider financial system. BoE regulator Rebecca
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Manhattan prosecutors accused Donald Trump of violating a gag order mere steps away from the courtroom in which he is standing trial, as they asked a judge to impose fines and warn the former US
Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. The writer is senior fellow in geoeconomics at the European Council on Foreign Relations and the author of ‘Backfire’ On paper, commercial ties between Russia and China look huge: in 2023 trade turnover
The Securities and Exchange Commission has won its first ever case enforcing Municipal Securities Rulemaking Board Rule G-42 on the duties of non-solicitor municipal advisors after a federal judge in U.S. District Court for the Southern District of California granted partial summary judgment against Choice Advisors and its principal Matthias O’Meara. The court found that
Miami International Airport got a rating uplift from S&P Global Ratings, which Monday raised the long-term and underlying ratings on airport revenue bonds Miami-Dade County, Florida, issued for the facility to A-plus from A. The outlook is stable at the upgraded rating; it was positive before the upgrade. “The rating action reflects our view of
Rockefeller Asset Management added three new portfolio managers to bolster its municipal investment strategies within in its fixed income division, the firm announced Monday. Scott Cottier, Mark DeMitry and Michael Camarella will join Rockefeller from Invesco, where they managed the California Value Municipal Income Trust and the Trust for Investment Grade New York Municipals. They
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has pledged to lift UK defence spending to 2.5 per cent of GDP by the end of the decade, arguing the increase is necessary because the world is in its most dangerous state
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Russia has threatened to step up its attacks on logistics centres and storage facilities for western weapons in Ukraine, in Moscow’s first direct response to the passage of US military aid for Kyiv. Russian
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The drop just before the long Easter holiday weekend did not seem like a coincidence. On Thursday, March 28, a group of powerful Delaware lawyers put in motion a plan to make a series of
Local government officials in Texas are increasingly feeling the sting of 2021 state laws that banned big banks from underwriting municipal bonds for “boycotting” or “discriminating” against the fossil fuel or firearm industries. Several aired their grievances at The Bond Buyer’s Texas Public Finance conference in Austin last week, noting the impact of the laws,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Russian state-controlled lender Sberbank is to pay Rbs752bn ($8bn) in dividends after posting its largest-ever profit last year, in a sign of the health of the country’s banking sector despite western sanctions. The payout by
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK business activity rose more than expected in April, marking the fastest expansion since last May, according to a closely watched survey that also flagged increasing cost pressures in the economy. The S&P Global flash
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of England should be wary of cutting rates too soon after years of above-target inflation, a senior policymaker has warned, as he reiterated the need for “restrictive” monetary policy. The pound rose against
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