Westend61 | Westend61 | Getty Images It’s unclear when the Federal Reserve could begin cutting interest rates, but many homeowners who took out a mortgage in recent years — as rates hovered between 6% and 7%, and even touched 8% — are paying attention for opportunities to refinance. Thanks to those high mortgage interest rates,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Hundreds of staff in KPMG’s Netherlands business, including senior partners and managers, cheated on professional exams and the firm misled investigators about the misconduct, according to the US audit regulator. The Dutch arm of KPMG
When a ransomware attack struck the city of Huber Heights, Ohio, Nov. 12, it first showed up in a 911 dispatch center computer. A Russian hacker group known as Black Suit, said City Manager Richard Dzik, went on to encrypt multiple city servers and machines, and ultimately gained access to the data of about 5,000
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The last time David Cameron, Britain’s foreign secretary, urged Capitol Hill to pass Ukraine aid, he was told to “kiss my ass” by Marjorie Taylor Greene, one of the most vocal pro-Russia Republicans. Washington largely
This aerial picture shows homes near the Chesapeake Bay in Centreville, Maryland, on March 4, 2024. Jim Watson | Afp | Getty Images Overall mortgage demand has now moved sideways for three straight weeks, but last week saw a split between those looking to buy a home and those hoping to save money with a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. What do we do now? Film fans may recall the final scene of The Candidate in which an unexpectedly elected senator asks this question of the campaign chief whose cunning has delivered victory. With Britain
A top EU court has annulled sanctions against billionaires Mikhail Fridman and Petr Aven, finding there was insufficient evidence the two oligarchs backed the Kremlin’s war against Ukraine. The ruling is a big blow to the EU’s sanctions regime against Moscow, which has targeted more than 1,700 people and more than 400 entities, accusing them
Luxury golf clubs in south Florida have begun charging high six- and seven-figure joining fees as a pandemic-driven influx of wealthy Americans drives demand for tee times to previously unseen heights. Top clubs in the Miami area have doubled or tripled their membership fees since 2020, according to documents and interviews with industry members. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Lloyds Banking Group plans to cut jobs in risk management after an internal review found the function was a “blocker to our strategic transformation”. The restructuring was outlined in a memo last month from Lloyds’
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is European portfolio strategist at Goldman Sachs After a decade of stunning performance, outshining Europe and the rest of the world, the US equity market trades on a price/earnings ratio of more than
Some time in the near future, perhaps as soon as this year, humans are likely to experience something that has never happened in modern history before. For the first time, global emissions of planet-warming greenhouse gases might finally stop rising and head into long-term decline. No one alive today has known a time like this.
Big investors are selling US Treasuries and buying European government bonds, betting that cooler inflation in Europe will allow its central bank to start cutting interest rates sooner than the Federal Reserve. Money managers at Pimco, JPMorgan Asset Management and T Rowe Price have all increased their exposure to European government debt in recent weeks.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Britain’s governing Conservatives are pinning their hopes on an improving UK economy as a way of restoring support ahead of the election expected this year — despite polling showing that voters link them with the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Labour’s proposals to toughen a planned crackdown by the Conservative government on tax perks for “non-doms” living in the UK would prove a “catalyst” for wealthy foreign nationals to leave the country, tax advisers have
Pictured here is a real estate project under construction in Huai ‘an city, Jiangsu province, China, on April 8, 2024. Future Publishing | Future Publishing | Getty Images BEIJING — China needs to convince people that home prices are on their way up in order for economic activity to pick up, Richard Koo, chief economist
Venezuela’s former oil minister Tareck El Aissami, once a powerful confidant of authoritarian President Nicolás Maduro, has been arrested on corruption allegations, the government announced on Tuesday. Former finance minister Simón Zerpa and Sarmark López, a businessman and associate of El Aissami, were also arrested as part of the probe into corruption at state oil
Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. Persistent inflation and hot US growth have left the Federal Reserve’s rate-cutting hopes “off track”, Bridgewater’s Bob Prince said on Tuesday, adding an influential voice to the growing chorus asking whether US rates will
Munis were a touch firmer in spots Tuesday as the primary market ramped up and investors awaited Wednesday’s inflation report to give further guidance on Fed rate cuts. U.S. Treasuries were firmer and equities were mixed at the close. The two-year muni-to-Treasury ratio Tuesday was at 65%, the three-year at 64%, the five-year at 61%,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rwanda’s state-owned airline turned down a UK government proposal to transport asylum seekers to Kigali as part of Prime Minister Rishi Sunak’s migrant offshoring plan because it feared damaging its brand. RwandAir was approached by
Stay informed with free updates Simply sign up to the Energy sector myFT Digest — delivered directly to your inbox. The days of handing out bribes to secure commodity contracts are over, the heads of the world’s biggest trading companies said, after a series of US bribery scandals put the sector under intense scrutiny. Speaking
Florida’s Brightline passenger train, long a prominent name in the high-yield municipal market, is gearing up for its investment grade market debut with a $2 billion deal that marks a first step toward an overhaul of its debt load. Another $1 billion of subordinate high-yield bonds that will be a mix of taxable and tax-exempt