Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK economy grew for the second month in a row in February, driven by expansion in manufacturing, raising hopes the UK may be emerging from a technical recession. Gross domestic product rose 0.1 per
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When Benjamin Netanyahu visited Israeli military recruits this week, he delivered a typically gung-ho speech about the “historic significance” of its war against Hamas in Gaza. “We are, in effect, defending the existence of our state,” he told the young soldiers. Netanyahu reiterated that Israel would move ahead with its offensive on Rafah, the southern
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Chinese President Xi Jinping has dispatched a senior official to Pyongyang to reassert China’s “deep friendship” with North Korea, as concern rises in Beijing and Washington over Kim Jong Un’s blossoming alliance with Russian leader Vladimir Putin. The visit by Zhao Leji, the third-ranking member of the Chinese Communist party’s leadership group, the politburo standing
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Wall Street stocks rose on Thursday, marking a sharp reversal from the previous session as shares in Big Tech companies led the march higher. The benchmark S&P 500 gauge closed up 0.7 per cent, after a drop of almost 1 per cent on Wednesday triggered by a hotter than expected US inflation reading for March. The Nasdaq
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Three more US regulators have opened investigations into how Morgan Stanley’s wealth management division handles potentially risky clients, according to a person familiar with the matter.  The business, which has been central to the bank’s
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The Municipal Securities Rulemaking Board’s upcoming meeting of its board of directors April 17-18 will focus discussion on its many rule proposals underway. The board will review the public comments they received as part of the request for information on small firms, which saw 22 different firms and groups submit responses. They will also discuss
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Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. These are treacherous times for bond traders. A couple of months ago, the market consensus was that the US Federal Reserve would cut interest rates six times this year, starting imminently. By Wednesday, however, investors
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Easterly Asset Management acquired two municipal investment mutual funds and hired two managers, including the former co-head of municipals at OppenheimerFunds Rochester, to run them. Easterly, a Massachusetts-based asset manager with $3 billion under management, added PSP High Income Municipal Bond Mutual Fund and the PSP Short-Term Municipal Fund, which have a combined $600 million
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A slew of mega deals helped push issuance in the first quarter of 2024 to over $100 billion, buoyed by favorable market conditions and a resurgence in refunding outstanding Build America Bonds, leading some firms to reconsider total issuance expectations for the year. Sixteen deals topped $1 billion in the first quarter of 2024, double
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