Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bridgepoint rejected a bid from Ari Emanuel’s TKO Group for MotoGP despite it being worth €200mn more than what Formula One-owner Liberty Media offered for the motorcycle series. The private equity firm this week agreed
The Department of Transportation and Baltimore County have reached an agreement to divert a previously awarded DOT grant to help nearby ports accommodate more cargo following the collapse of the Francis Scott Key Bridge. That comes along with the announcement Thursday that DOT’s Federal Transit Administration will allocate $20.5 billion to state and local government
Miami-Dade County, Florida, Mayor Daniella Levine Cava has dropped plans for a proposed a $2.5 billion municipal bond referendum in November that would have funded infrastructure projects. Instead, the mayor said Thursday she will work to propose an even larger bonding plan that will include money for transit projects. Proceeds from the “305 Future Ready”
In a ceremony watched by thousands of issuers, the White House Thursday unveiled an overhaul of how it sends billions of federal funds to cities, states and nonprofits in an effort to cut red tape, expand the pool of grant recipients and simplify reporting and compliance. “The changes being finalized and announced today are historic
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is former chief of MI6 and UK ambassador to the UN It is hard to understand how the Israeli drone operators failed to know that the World Central Kitchen vehicles they struck on
Stay informed with free updates Simply sign up to the Social affairs myFT Digest — delivered directly to your inbox. What do you do if grandma goes on strike? Or when the crèche calls to say your child is sick? Working parents with young children grit their teeth, promise their employer they will make up
The first quarter of the year saw the highest number of new municipal bond impairments since the Great Recession, according to Municipal Market Analytics, Inc. There were 47 new impairments eclipsing the previous post-Great Recession peak of 44 in 2019, the firm said in its Default Trends report released Wednesday. The first quarter’s impairments “continue
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US employers added 303,000 jobs in March, as a buoyant labour market damped expectations of imminent Federal Reserve rate cuts and boosted president Joe Biden’s re-election bid. The figures released on Friday by the US
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Fugitive Wirecard COO Jan Marsalek used compromised intelligence officials in Vienna to spy on European citizens and plot break-ins and assassinations by elite Russian hit squads. He also obtained a Nato government’s cutting-edge cryptography machine
Chicago priced $229.265 million of second lien wastewater transmission revenue bonds Thursday in a refunding deal that saw spreads tighten from the last time the issuer was in the market. This is the second wastewater deal since the city saw an upgrade in April 2023 when S&P Global Ratings raised the second lien for both
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Rolex Datejust, a self-winding luxury watch that displays the date through its Cyclops magnifying lens, was launched in 1945 and is one of the Swiss company’s iconic models. It has become an emblem of
Rising interest rates have already slowed growth in a workforce housing bond program in California, and now efforts by some county assessors to levy possessory interest taxes on the property administrators are having a chilling effect. So far, only Orange and San Diego counties have followed through, while others are contemplating doing so. The program
It was an unlikely step for Cat Earp to leave her job at Gucci and her home in London to move into her husband’s family farmhouse in Devon, miles from a train station, and accessible only with stout boots rather than double G-branded loafers. “Running a farm wasn’t really part of my life plan,” she admits.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Thames Water’s parent company has sent a formal notice to bondholders informing them that it has defaulted on its debt, firing the starting gun on a potentially messy restructuring at the owner of Britain’s largest
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel’s military said on Friday that its soldiers had made errors and violated its operating procedures in their strike on a humanitarian convoy this week that killed seven aid workers. The deaths of the workers
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Biden administration is drawing up plans to require goods produced in Jewish settlements in the occupied West Bank to be clearly labelled as coming from there, according to US officials, another sign of White
Stay informed with free updates Simply sign up to the UK house prices myFT Digest — delivered directly to your inbox. UK house prices fell 1 per cent in March from February, marking their first fall after five consecutive monthly rises and surprising economists who had expected a slight increase. Mortgage lender Halifax, which compiled
Hedge funds are pouncing on the UK’s £200bn investment trust sector as it is shunned by investors and hit by competition from cheaper rivals. Investment trusts, a cornerstone of UK equity markets with roots stretching back more than a century, have seen a gap open up between their share prices and the value of the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The boss of one of the City’s biggest independent investment banks has sounded the alarm over the future of London’s capital markets, saying they will end up “dead” on current trends. Peel Hunt chief executive
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is the Minister of International Relations and Cooperation in South Africa Since the advent of democracy in South Africa three decades ago, our mutually beneficial economic relations with the United States have surpassed
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The question of how to squash government debt is about as fresh as a pickled turnip. And given rising interest rates and feeble growth, the answers are about as sour. But a new working paper