Scotland has lost up to £100mn a year in salmon exports to the EU because of red tape and increased costs associated with Brexit, according to data from trade body Salmon Scotland. The volume of Scottish salmon exports to the EU last year dropped 17 per cent to 44,000 tonnes from 53,000 tonnes in 2019.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The board of Thames Water, Britain’s largest water company, was locked in crisis talks on Wednesday after shareholders refused to confirm they would provide about £3bn of fresh equity that is necessary for its survival.
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of cutting interest rates from their current 23-year high. Christopher Waller, a Fed governor and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Labour leader Sir Keir Starmer will on Thursday ask all towns and cities in England not covered by devolution deals to form groups to bid for new powers of their choice, as he launches the
Traders work on the floor at the New York Stock Exchange on March 13, 2024. Brendan McDermid | Reuters A new company will try to crack the code of integrating artificial intelligence and investing, and it will be mostly focused on helping individual traders make buy and sell decisions. The firm, called iFi AI, launches
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A green energy tycoon who plans to donate £5mn to the UK’s Labour party has been ordered by the High Court to inform his wife before he hands over more cash. Lawyers acting for Dale
Municipals were mixed Wednesday, but selling pressure was evident on the short end, as few deals of size priced in the primary market and balances from Tuesday’s large new-issues were digested. Munis underperformed a stronger U.S. Treasury market while equities ended up. Despite weakness Wednesday and Tuesday, munis have “held in pretty well,” with yields
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Amazon has committed a further $2.75bn to artificial intelligence start-up Anthropic, strengthening its ties to the company as Big Tech’s race to dominate the booming AI sector intensifies. The deal is Amazon’s largest ever venture
Lack of operating Puerto Rico Electric Power Authority generating capacity has raised concerns about PREPA’s ability to provide adequate service and about bondholders’ ability to gain a better recovery if they win an appeal. Last week, Genera PR, the private operator of PREPA’s generation system, released a status summary of PREPA’s generation facilities as of
A Washington state hospital district’s ratings fell further into junk territory and were placed on review for further downgrade, reflecting what Moody’s Ratings called “severe and immediate liquidity challenges.” Moody’s downgraded to B1 from Ba3 Whidbey Island Public Hospital District’s Series 2013 unlimited tax general obligation (GOULT) bonds affecting $43.9 million in debt. Moody’s also
Investors and credit rating agencies are weighing how much effect the collapse of the Francis Scott Key bridge in Baltimore’s inner harbor will have on the local economy and logistics on the East Coast, though early indications suggest no drastic credit impact. Early Tuesday morning the Singapore-flagged container vessel Dali lost power and crashed into a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. British car exports to Canada are facing tariffs of more than 6 per cent within days, as a deadlocked trade spat between the two allies descended into further acrimony on Wednesday. British government officials said
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. US Treasury secretary Janet Yellen plans to warn China not to flood the world with cheap clean energy exports, saying they would distort global markets and harm workers. Yellen was due to deliver her message
Enjoy complimentary access to top ideas and insights — selected by our editors. As Women’s History Month comes to a close, The Bond Buyer highlighted the trailblazing women of the public finance industry. From bankers to bond counsel and city CFOs to state treasurers, the private and public sectors include leaders in the municipal market
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Formula One owner Liberty Media is in exclusive talks to buy the company that owns MotoGP for more than €4bn, in a deal that would unite the elite car and motorcycle racing series, according to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Carmakers are preparing for months of lower sales as they reroute shipments away from Baltimore following the collapse of the Francis Scott Key Bridge, while insurers have warned of multibillion-dollar claims stemming from the disaster.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bain Capital has promoted one of its top dealmakers in Asia to co-managing partner, the highest position at the asset manager, as the broader buyout industry grapples with succession planning. According to a letter to
Following a long period of poor financial management, during which two mayors pleaded guilty to corruption charges, Paterson, New Jersey, has rejoined the ranks of investment-grade municipal credits, following Moody’s Ratings’ recent upgrade of the city’s general obligation bond rating to Baa3 from Ba1. “The upgrade to Baa3 recognizes the city’s progress toward maintaining an
When it comes to women’s advancement in public finance, Samantha Costanzo is clear-eyed yet optimistic. The former Citi banker earlier this month was tapped by Huntington National Bank to become the firm’s head of public finance, the fourth woman to ascend to the role in the municipal industry. She describes the question of equal representation
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. It is a sad but undeniable aspect of the internet era that debate is too often dominated by the loudest and ugliest voices. Reputations and platforms are built on rage. Strong opinions and emotions are
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The number of raw sewage discharges into rivers and seas in England and Wales hit an all-time record in 2023, according to official figures that sparked calls for Rishi Sunak’s government to declare a national