Stay informed with free updates Simply sign up to the Equities myFT Digest — delivered directly to your inbox. Global stock markets sank and Asian currencies were hit by a rising dollar on Tuesday, as investors’ hopes for rapid US interest rate cuts waned and fears grew over the conflict in the Middle East. Indices
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel’s war cabinet is to meet later on Tuesday for a third straight day to consider its response to Iran’s weekend attack, as international pressure mounts on the Jewish state to show restraint and avoid
Stay informed with free updates Simply sign up to the Currencies myFT Digest — delivered directly to your inbox. Indonesia’s central bank intervened to support the rupiah on Tuesday, while the Indian rupee slumped to a record low as a surging dollar sparked a rout in emerging market currencies. Escalating tensions in the Middle East
Stay informed with free updates Simply sign up to the UK employment myFT Digest — delivered directly to your inbox. UK wage growth was higher than expected in the three months to February, but a sharp rise in unemployment led traders to cement bets on the Bank of England cutting interest rates this year. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Austria’s Raiffeisen Bank International recently posted dozens of advertisements for Russia-based jobs indicating ambitious plans to grow in the country, in apparent contradiction to its official pledge to exit the market. The Financial Times has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer, an FT contributing editor, is chief executive of the Royal Society of Arts and former chief economist at the Bank of England In the early years of inflation targeting in the UK, the then
As Iran launched an attack on Israel on Saturday, executives at one of Europe’s largest private equity groups felt a sense of déjà vu. Russia’s invasion of Ukraine and the Israel-Hamas war had prompted CVC Capital Partners to call off its previous two attempts to list on Amsterdam’s stock exchange, the firm’s biggest gambit since
Since the great financial crisis of 2007-08 regulators have engaged in the biggest push to de-risk the global financial system since the 1930s. Yet instability and flawed risk management have proved extraordinarily resistant to this regulatory onslaught. The collapse last year of Silicon Valley Bank, the 16th largest in the US, exposed very basic mistakes,
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s gross domestic product grew 5.3 per cent in the first quarter against a year earlier, exceeding market expectations as Beijing tries to steer a manufacturing-led revival of the world’s second-largest economy. The strong first-quarter
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In March, as a visiting delegation of Swedish investors and bankers passed through China’s factories and shipyards for the first time since the pandemic, what they witnessed was a shock to their systems. Across the
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. The Speaker of the US House of Representatives has said the chamber will vote on separate bills to provide aid for Ukraine and Israel this week, a move that faces legislative hurdles but could
The benchmark S&P 500 slipped 1.2 per cent, with 85 per cent of stocks falling. The Nasdaq Composite lost 1.8 per cent as every Magnificent Seven tech stock fell. The small-cap focused Russell 2000 fell 1.4 per cent. The Vix — A closely watched gauge of US stock market volatility — closed at its highest
Brodie Killian has moved to PFM Financial Advisors from Stifel Nicolas & Co., joining its Ann Arbor office as a director. The move represents the capstone achievement of Killian’s broad career in the municipal bond market, he told The Bond Buyer. “My past experience gives me a unique perspective as a municipal advisor who has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A “blowout” March retail sales report sparked a sell-off in US government debt and shook global currency markets on Monday, in the latest sign that the world’s largest economy may be running too hot to
San Diego Mayor Todd Gloria’s $5.65 billion proposed budget taps borrowing and other short-term fixes to close a structural deficit. One-time maneuvers include eliminating $30 million in scheduled reserve contributions and borrowing $25 million, rather than using cash, to fund infrastructure projects. Gloria’s budget would increase spending on homeless prevention programs, street paving and flood
Municipals were slightly weaker Monday, but outperformed U.S. Treasuries which saw larger losses across the curve. Equities sold off. Triple-A yields rose one to four basis points while U.S. Treasury yields rose up to 11 with the largest losses out long. The two-year muni-to-Treasury ratio Monday was at 63%, the three-year at 61%, the five-year
Jordan was thrust into the spotlight in the early hours of Sunday as an inadvertent — and to some, unwanted — Israeli ally, after its jets shot down dozens of the Iranian missiles and drones fired at Israel that crossed into its air space. The kingdom has been a fierce critic of Israel’s war in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran’s missile and drone assault on Israel marks a dangerous turning point in the hostilities triggered by Hamas’s October 7 attack and Israel’s retaliatory offensive in Gaza. It has thrust the decades-old shadow war between
The Department of the Treasury is expected to follow up its March-issued updated FAQs on the American Rescue Plan’s State and Local Fiscal Recovery Program with further guidance on how counties and local governments will be expected to handle reporting and compliance requirements. The 107-page guidance in March provided further detail on some of the
The private sector has until the end of April to submit unsolicited proposals for transportation projects to the Pennsylvania Department of Transportation. PennDOT’s Office of Public-Private Partnerships, one of the country’s most active P3 state DOT agencies, accepts unsolicited P3 bids twice a year, in April and October. Interested companies can submit proposals “offering innovative
Manhattan prosecutors asked a judge to fine Donald Trump for his attacks on potential witnesses in the New York hush money case, as jury selection was set to begin in the first criminal trial against a former US president. A lawyer for the district attorney Alvin Bragg, who brought the case, told the court on