Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy It would not surprise me if future economic history books were to look back at the last week in central
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Two law professors have claimed that Sullivan & Cromwell put its own interests before that of FTX’s stakeholders, reviving criticism over the law firm’s role in the bankrupt cryptocurrency exchange’s rise, collapse and unwinding. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Westminster has woken up to the fact that Rishi Sunak is not good at politics. Grumbling about the prime minister’s professional limitations is comforting for Conservatives, because the hope is that with the right staff
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 FT contributing editor and executive director of American Compass The era of “the era of big government is over” may itself now be over. Realignment in American politics has already transformed
When Donald Trump hosted Viktor Orbán at his Mar-a-Lago resort earlier this month, he lavished praise on the Hungarian prime minister as a “fantastic” leader for Europe. The evening entertainment included a “members-only” concert with tribute bands for the Beatles and Rolling Stones. But in the afternoon, the pair retreated to a dining room for
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bond fund giant Pimco is holding a smaller than usual position in US Treasuries and prefers the bonds of countries such as the UK and Canada, as it believes inflationary pressures may lead the Federal
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US faces a Liz Truss-style market shock if the government ignores the country’s ballooning federal debt, the head of Congress’s independent fiscal watchdog has warned. Phillip Swagel, director of the Congressional Budget Office, said
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Russia has started supplying oil directly to North Korea in defiance of UN sanctions, further cementing ties between the authoritarian regimes and dealing a new blow to international efforts to contain Pyongyang. At least five
Adam Neumann of WeWork and Victor Fung Kwok-king, right, chairman of Fung Group, attend a signing ceremony at WeWork’s Weihai Road location on April 12, 2018 in Shanghai, China. Jackal Pan | Visual China Group | Getty Images Adam Neumann has submitted an unsolicited bid in excess of $500 million to acquire WeWork out of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Adam Neumann, the co-founder of WeWork, has submitted a conditional bid of about $600mn for the bankrupt co-working company he led until 2019, according to three people briefed on the matter. Flow, Neumann’s new property
US stocks were lower in early-afternoon trading on Monday, with declines among consumer discretionary, industrials and technology stocks offsetting gains for energy names. Wall Street’s S&P 500 was down 0.1 per cent. Consumer discretionary, industrials and tech were the benchmark’s worst-performing sectors, down 0.5 per cent, 0.4 per cent and 0.3 per cent, respectively. The
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he attended a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | Reuters A court ruling that slashed Donald Trump‘s civil fraud appeal bond
Boeing had already shaken up its leadership twice in recent months, naming its first ever chief operating officer in December and then, in February, ousting the head of its 737 Max programme after a door panel blew off an Alaska Airlines flight mid air. On Monday the US plane maker went further, underscoring its struggle
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US and UK have unveiled sweeping measures against hackers backed by China’s government, alleging they carried out extensive cyber attacks against targets across Washington and Westminster. The US Department of Justice on Monday indicted
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. FTX is on track to repay its customers up to two-fifths more than the initial value of their claims as administrators for the collapsed exchange capitalise on surging prices of cryptocurrency and artificial intelligence assets.
Municipals were steady as investors await several larger new-issues, including $2.68 billion of California GOs, which were offered to retail investors Monday, while U.S. Treasury yields rose and equities ended down. The two-year muni-to-Treasury ratio Monday was at 61%, the three-year at 61%, the five-year at 58%, the 10-year at 58% and the 30-year at
Federal Reserve Gov. Lisa Cook said the U.S. central bank must take a cautious approach to cutting interest rates to allow more time for inflation to slow down in some segments of the economy. Fed policymakers left rates unchanged at their meeting last week at a two-decade high, and maintained their forecast for three rate
Waukesha County, Wisconsin-based Three Pillars Senior Living Communities is set to price $109 million of BBB-minus senior living bonds Tuesday, coming as high-yield outperforms other municipal sectors. The bonds issued by the Wisconsin Health and Educational Facilities Authority will consist of $63 million of Series 2024A bonds due 2059, $8 million of Series 2024B-1 bonds
The $1.2 trillion spending bill that was passed by the U.S. Senate and signed by President Biden on Saturday doesn’t address any of the key legislative issues affecting the municipal bond market, but flickers of hope remain in the few months before the elections in November. Reforming rules on Low Income Housing Tax Credits that
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. David Calhoun took over as Boeing’s chief executive four years ago in the middle of a crisis that followed a pair of deadly crashes in 2018 and 2019. Both involved Boeing’s best-selling 737 Max 8.
TD Securities has hired Andrew Nakahata, former head of UBS’ western public finance region to lead its expansion efforts on the west coast. The investment bank has been building its California public finance business for six years and has a San Francisco office opening April 1. The new office will house TD-Cowen Securities, as TD