A Boeing whistleblower testified to a US Senate committee that the aircraft manufacturer “absolutely” has a culture of retaliation against employees who raise safety concerns. Sam Salehpour, a quality engineer at the company, said he was berated by a manager in response to repeatedly questioning the safety of the 777 and 787 aeroplanes. Separately, he
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The House of Lords on Wednesday insisted on further changes to the government’s flagship Rwanda asylum bill, dashing Prime Minister Rishi Sunak’s hopes of the measure becoming law this week. MPs are due to vote
Municipals were little changed Wednesday as supply slowed and small inflows into muni mutual funds returned. U.S. Treasury yields fell and equities saw losses. The Investment Company Institute reported small inflows to municipal bond mutual funds for the week ending April 10, with investors adding $18 million to funds following $69 million of outflows the week
Municipal analysts are concerned the growing federal government debt may lead to challenges for municipal finances in the near-, medium- and long-term. The increasing federal debt may force states and local governments to pay higher rates on their bonds. “Since some municipal investors may also choose Treasuries given their very low risk, the greater supply
The Municipal Securities Rulemaking Board held its second stakeholder meeting on Tuesday, its final engagement with the market on its now discarded rate card fee model and budget process. The first of the two meetings was conducted by those from which the MSRB derives its fees and centered on the rate card model. This second
Norton Rose Fulbright has hired public-private partnership and infrastructure attorney Patrick Harder to co-head the firm’s U.S. and North America infrastructure groups. Harder joins Norton Rose after 20 years at Nossaman LLP, where he was a leader in the U.S. P3 space and was partner and chair of the infrastructure group. He will co-chair Norton’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Boeing whistleblower testified to a US Senate committee that the aircraft manufacturer “absolutely” has a culture of retaliation against employees who raise safety concerns. Sam Salehpour, a quality engineer at the company, said he
The Federal Emergency Management Agency is asking the Biden Administration for an additional $9 billion to pad its disaster relief fund for the remainder of FY 2024. That was mentioned during the House Appropriations Committee hearing on Tuesday, where FEMA administrator Deanne Criswell appeared to discuss the Biden Administration’s $33.1 billion funding request for FEMA
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jane Street’s quarterly trading revenues have surged to their highest level since the start of the pandemic, as the secretive high-speed firm flourished alongside traditional Wall Street market makers. The group expects its first quarter
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US House of Representatives is expected to vote on sending additional aid to Ukraine and Israel on Saturday evening, in a move that could send critical support to American allies and end months of
Throughout the six months that Israel has been fighting in Gaza, the public has overwhelmingly supported the war effort, with the vast majority of Israelis backing the goal to destroy Hamas and free the hostages still held in the enclave. But there is no such consensus on how to respond to the threat from Iran,
A federal judge in the Western District of New York has ruled in favor of the Securities and Exchange Commission in its case against the City of Rochester, New York’s municipal advisors, whom the SEC accused of failing to disclose conflicts of interest inherent in their contingent fee agreements with the City. “One of the
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Germany has written to dozens of countries including Gulf Arab states to plead for more air defence systems for Ukraine, saying Kyiv needed urgent help to protect its cities, troops and critical infrastructure from
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. Tension between America and China was so bad a year ago that Janet Yellen could not get permission to go there. Now the US Treasury secretary is a social media hit in China. Yellen’s two
Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy. The fund said in its benchmark Fiscal Monitor that it expected the US
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has been warned by the IMF to take much tougher action to rein in the UK’s public debt, putting a question mark over the prime minister’s cuts to national insurance. The IMF on
Wisconsin’s Housing and Economic Development Authority last week rolled out its Infrastructure Access Loan program, a partnership with developers and local governments to build more workforce housing, against the backdrop of a worsening housing affordability crisis. Housing supply shortages and high home prices have driven existing home sales to a nadir last seen during the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Just before Easter, and with little fanfare, the judges on the European Court of Human Rights announced new guidelines on the contentious interim orders that have, among other things, frustrated the UK government’s Rwanda deportation
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US investors are paying the biggest premiums since October to protect their portfolios against market gyrations as mounting tensions in the Middle East and reduced expectations of interest rate cuts fuel a surge in volatility.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. French diver Alexis Jandard committed an Olympics-sized gaffe recently at the inauguration of the new aquatic centre built for the Paris summer games. He spectacularly wiped out during a synchronised dive — in front of
A truism of finance is that risk and returns are correlated. The stocks of smaller companies therefore do better than bigger ones in the long run. This is a foundation stone of both investment theory and practice. Sure, they are more volatile and they can suffer long stretches of dismal performance — such as in