A new first-of-its-kind environmental rule that lays out a path to reducing so-called “forever chemicals” in U.S. drinking water would cost municipal water systems up to $40 billion in capital costs and billions more in annual compliance costs. That’s the potential price tag floated by industry groups representing publicly-owned water systems after the Environmental Protection
Vietnamese property tycoon Truong My Lan (C) looks on at a court in Ho Chi Minh city on April 11, 2024. A top Vietnamese property tycoon could face the death penalty when she and dozens of other co-accused face verdicts on April 11 in one of the country’s biggest fraud cases over the embezzlement of
Despite a rating upgrade ahead of the deal, Louisiana paid a wider spread to a 10-year benchmark when it sold general obligation bonds Tuesday than it did a year ago. In Tuesday’s pricing, the state paid a 15 basis point spread to the Triple-A benchmark evaluated by BVAL for the 2034 maturity, with 5% coupons.
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. One of our worst nightmares about artificial intelligence is that it will enable killer robots to stalk the battlefield dispensing algorithmically-determined death and destruction. But the real world is a lot messier than the comic
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a political strategist at BCW communications and former political secretary to Tony Blair “We are the masters now!” These words, attributed to Sir Hartley Shawcross, attorney-general in Clement Attlee’s 1945 Labour government,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US President Joe Biden said his administration’s support for Israel’s security was “ironclad”, following threats from Iran to exact revenge on the Jewish state for a strike on its consulate in Damascus last week. Iran’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jamie Dimon: one, Jay Powell: nil. JPMorgan Chase chief executive Dimon’s annual letter to shareholders this week struck an ominous note, predicting that too much attention is paid to month-to-month oscillations in interest rates and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A convicted former minister vowing revenge against conservative President Yoon Suk Yeol has helped deliver a resounding defeat to the South Korean leader in parliamentary elections. Former justice minister Cho Kuk, convicted on corruption charges
This is an audio transcript of the Rachman Review podcast episode: ‘How do you define a war crime?’ [MUSIC PLAYING] Gideon Rachman Hello and welcome to the Rachman Review. I’m Gideon Rachman, chief foreign affairs commentator at the Financial Times. This week’s podcast is about war crimes. My guest is Boyd van Dijk, a historian
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Over the past week, pop star Olivia Rodrigo has played four sold-out shows at Madison Square Garden, where about 20,000 people, mostly young women, transformed New York’s storied arena into a haze of glitter and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is an external member of the Bank of England’s Monetary Policy Committee As an American living in London, people regularly tell me England and America are two countries separated by a common language.
Hidden behind tall cactuses shielding an olive grove in the small Tunisian town of Jebiniana, around 300 people take refuge under makeshift plastic shelters, waiting to cross the Mediterranean Sea and enter Europe. One of them is Aruna, a 39-year-old Sierra Leonean who arrived last year. He has already survived an arduous 5,000km journey across
Stay informed with free updates Simply sign up to the UK interest rates myFT Digest — delivered directly to your inbox. Cuts in UK interest rates “should still be a way off”, according to one Bank of England policymaker, arguing investors were underestimating the risk that high inflation would linger for longer in Britain than
A new rise in US inflation is undermining Joe Biden’s re-election message, threatening the president’s effort to defend his economic record in a crucial phase of the campaign against Donald Trump. The 3.5 per cent annual increase in the March consumer price index followed a 3.2 per cent gain a month earlier, and has made
Riley Moore, right, West Virginia’s treasurer, is running for a U.S. House seat. Moore has helped create a blacklist in his home state for banks that refuse to work with businesses in certain industries. INWOOD, W.Va. — It’s important, Riley Moore says, for people to know that his father was a banker. Tall, sharp-eyed and
Stay informed with free updates Simply sign up to the Currencies myFT Digest — delivered directly to your inbox. The dollar jumped to a new 34-year high against the yen in early Thursday trading in Tokyo, briefly pushing the Japanese currency through what was considered a key line of support and reviving market speculation that
US stocks and Treasuries sold off after higher than expected inflation in March dimmed traders’ hopes for near-term interest rate cuts. Wall Street’s S&P 500 index closed 0.9 per cent lower on Wednesday. Every sector declined except for energy, which was helped by a rebound in the price of oil. The tech-focused Nasdaq Composite declined
Norfolk, Virginia, has canceled its plans to call some of its outstanding Build America Bonds, according to a financial filing issued Monday. In March, the city said in a conditional notice that it was considering a redemption of $56 million of its direct-pay taxable 2010B capital improvement BABs under an extraordinary optional redemption before the
Municipals were weaker, but outperformed a large U.S. Treasury selloff that hit the short end the hardest and pushed the 10-year well over 4.5% after a hot inflation report showed Fed rate cuts would be pushed further out. Equities sold off as well. “The news is sparking an equity market selloff while sending bond yields
S&P Global Ratings on Wednesday upgraded its long-term rating on Detroit’s unlimited-tax general obligation debt to investment grade, raising it to BBB from BB-plus. The outlook is stable. The rating agency said the change reflected a stronger financial position and its “increased confidence in the city’s ability to sustain balance within the construct of its
US Federal Reserve Chair Jerome Powell attends a “Fed Listens” event in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images A hotter-than-expected consumer price index reading rattled markets Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.