Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. A group of 3,000 private equity dealmakers shared an annual carried interest windfall of about £5bn in the 2022 tax year, highlighting the large sums at stake in the UK debate over how these payouts
Singapore topped the list on the Economist Intelligence Unit’s business environment ranking. franckreporter | E+ | Getty Images Singapore, Denmark and U.S. are the best places in the world to conduct business, according to the Economist Intelligence Unit business environment ranking. “Singapore will remain the best geography in the world to do business, as it
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump has posted a $175mn bond to prevent the New York attorney-general from collecting on a near half-billion dollar fraud judgment against him and his businesses, temporarily ending a stand-off that could have led
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As global electric vehicle sales growth slows, carmakers and regulators are asking an existential question: is the current slowdown a blip? One scenario sees mass market buyers, who currently balk at higher prices of EVs,
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK shop price inflation fell below 2 per cent in March for the first time since the start of the cost of living crisis, in a sign that the surge in prices of the past
The S&P 500 retreated from a record high to start the second quarter of 2024 on the back foot, with Treasury yields rising as resilient economic data prompting traders to reassess their bets on rate cuts this year. Despite opening in positive territory on Monday, Wall Street’s benchmark swung to close 0.2 per cent lower
Private activity bonds issued for Los Angeles International Airport’s multi-billion-dollar people mover project were affirmed at junk by Fitch Ratings last week as the public-private project’s completion date was pushed out another six months. Fitch affirmed the speculative-grade BB-plus rating on California Municipal Finance Authority’s $1.2 billion senior lien revenue bonds issued on behalf of
Munis were little changed Monday as U.S. Treasuries sold off and equities ended mixed. Following the conclusion of the first quarter, munis are seeing losses for the year with the asset class returning negative 0.39% for the year and March returns were at 0.00%, noted Jason Wong, vice president of municipals at AmeriVet Securities. The
Three senior members of Iran’s Revolutionary Guards were killed on Monday in an air strike on the consular section of Iran’s embassy in Damascus, an attack that Tehran has blamed on Israel. The death of Brigadier General Mohammad-Reza Zahedi, a prominent commander of the Revolutionary Guards, marks a significant escalation in hostilities that have engulfed
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Yields on US government debt rose to their highest levels in two weeks on Monday as stubborn inflation and a jump in manufacturing activity tempered expectations for interest rate cuts in 2024. Benchmark 10-year Treasury
Striding across the stage with shirtsleeves rolled up, Istanbul mayor Ekrem İmamoğlu was received like a rock star at his re-election rally on Sunday. Revellers lit the sky with flares, dancing and singing as car horns pierced the city’s air late into the night. Meanwhile in Ankara, a sombre Recep Tayyip Erdoğan delivered a speech
Bond traders priced in less monetary policy easing by the Federal Reserve this year — and briefly set the odds of a first move in June to less than 50% — after a gauge of U.S. manufacturing activity showed expansion for the first time since 2022. The amount of Fed easing priced into swap contracts
The U.S. Department of Energy announced a $1.5 billion loan to re-start a closed Michigan nuclear reactor, which if finalized would mark the nation’s first recommissioned plant as part of the Bidens administration’s goal of reaching 100% clean energy electricity by 2035 and net-zero emissions by 2050. The loan, which received conditional approval from the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump’s media business generated less than $1mn in revenue in the fourth quarter, highlighting the lossmaking business’s precarious financial position even as it maintains a more than $10bn market capitalisation. Trump Media & Technology
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel’s parliament is to pass a law granting Prime Minister Benjamin Netanyahu powers to close the local operations of Al Jazeera, a news network authorities have long accused of anti-Israel bias. The bill marks the
Issuance in March increased for the third consecutive month, helped by a surge in refundings and several billion-plus dollar deals, as increased demand and fewer economic headwinds led to greater issuer confidence. March’s volume rose 7.1% to $36.405 billion in 532 issues from $34.008 billion in 601 issues in 2023. Issuance in March is above the
Residents of Istanbul took to the streets early on Monday to celebrate the results of Turkey’s local polls that handed President Recep Tayyip Erdoğan’s ruling party resounding defeats in some of the country’s biggest cities. © AP The opposition scored decisive mayoral victories against Erdoğan’s Justice and Development party (AKP) in Istanbul, Ankara, Izmir, Bursa
Asbestos. Lead. Temperatures that reach 115 degrees. Cracks in the ceiling so big you can see the sky. All of these have been found in Pennsylvania’s public schools. Pennsylvania lawmakers toured schools around the commonwealth last year, and what they found was “nothing short of shameful,” according to State Representative Peter Schweyer. “I was touring
UK start-ups and small businesses have accused HM Revenue & Customs of putting economic growth and innovation at risk by rejecting legitimate claims for research and development tax relief, delaying payments and clawing back credits. Nine bosses told the Financial Times that the UK tax agency’s administration of the flagship government scheme had left them
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Vladimir Putin was in East Germany, working for the KGB, when the Berlin Wall fell. In his memoir First Person, published in 2000, Putin recalls asking a nearby Red Army unit to protect the KGB
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israeli forces withdrew from al-Shifa hospital in Gaza City on Monday after a major two-week operation that has destroyed much of Gaza’s largest medical facility. The Israeli army promoted the success of the operation, saying