Texas laws that bar investment banks from underwriting state and local government debt if their policies are deemed harmful to the fossil fuel or firearms industries will have negative consequences for taxpayers and the business climate, according to a study released last week by a state business group. The study, conducted for the Texas Association
Artificial intelligence is moving into the housing space, specifically architecture. ICON, which developed one of the first fully 3D-printed housing developments in the U.S., is taking automation another step further. It recently unveiled what it calls Vitruvius, an AI program that helps consumers design custom homes online and get the plans, making the process cheaper
Stay informed with free updates Simply sign up to the Global inflation myFT Digest — delivered directly to your inbox. Central bankers are increasingly confident that inflation can be vanquished without driving up unemployment sharply, as economists forecast “immaculate disinflation”. Analysts polled by Consensus Economics see inflation easing from multi-decade highs to about 2 per
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Urban Development Corporations. The Regional Development Agencies. The Local Enterprise Partnerships. Then, in the last decade, as merciful relief from this grinding, almost Soviet language: the “Northern Powerhouse”. Whatever they called it, every British
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Europe’s investment banks have cut bonuses for a second straight year following a prolonged slump in dealmaking and listings that is now finally showing signs of ending. Deutsche Bank and BNP Paribas have
Democratic presidential hopeful and former Vice President Joe Biden in Las Vegas, Nevada on February 22, 2020. RONDA CHURCHILL President Joe Biden will visit the battleground state of Nevada Tuesday to take aim at corporate landlords, who the White House claims are keeping rents artificially high even as overall inflation has eased. Biden’s attack on
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apathy and anticlimax are what a central bank aspires to when the time comes for a momentous policy decision. By this measure, the Bank of Japan’s return to positive interest rates was a triumph —
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Unilever is to split off its ice cream business and cut 7,500 jobs as the consumer goods group steps up efforts to improve its performance. The company said on Tuesday that the ice cream division,
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. Cynicism about artificial intelligence is here, but it is unevenly distributed. There is not enough scepticism about the technology’s applicability in a variety of fields in the business world, and too little awareness of how
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Billionaire investor Nelson Peltz plans to vote for Donald Trump, saying his assessment that President Joe Biden’s “mental condition is really scary” outweighed his concern over the January 6 2021 attack on the US Capitol.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A second successive jump in the UK minimum wage will keep the Bank of England on high alert for signs of pay growth feeding inflation, even as broader price pressures in the economy start to
Pay rises in Clayton County, home to Atlanta’s vast airport and highways carrying cargo to and from the state’s bustling ports, were the best in the US over the past year. Yet Sam Day, an insurance adviser who works in the county’s Southlake Mall, said she was in a “really scary spot”, as the soaring
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of Japan has raised interest rates for the first time since 2007, becoming the world’s last central bank to end negative rates as the country puts decades of deflation behind it. Following a
Nvidia has unveiled its latest artificial intelligence chips, which the company claims are far more powerful than its existing market-leading hardware, as it sets its sights on extending its domination of the burgeoning industry. Chief executive Jensen Huang said on Monday that Nvidia’s new Blackwell graphics processing units will massively increase the computing power driving
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. One-year-old healthcare start-up Hippocratic AI has gained a $500mn valuation following a funding round, as Silicon Valley investors seek to cash in on promising new applications built using generative artificial intelligence. The Palo Alto, California-based
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nvidia has unveiled its latest artificial intelligence chips, which the company claims are far more powerful than its existing market-leading hardware, as it sets its sights on extending its domination of the burgeoning industry. Chief
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Joe Biden warned Benjamin Netanyahu on Monday that an assault on Rafah “would be a mistake”, as he asked Israel’s prime minister to send a delegation to Washington with alternative plans for the next stage
Municipals were slightly weaker by a few basis points Monday as the New York Metropolitan Transportation Authority offered $1.3 billion of revenue refunding green bonds to retail investors. U.S. Treasury yields rose ahead of the Federal Open Market Committee meeting and equities ended the session up. In the primary market Monday, Jefferies held a one-day
The number of Federal Reserve rate cuts expected this year has dwindled and the first one isn’t likely before June, analyst said, as inflation numbers continue to come in hotter-than-expected. While the market was initially expecting six or seven 25 basis point cuts this year, Gary Quinzel, vice president of portfolio consulting at Wealth Enhancement
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. So much for “levelling up”. In 2019 the Conservative party stormed to an election victory partly on the promise to boost Britain’s “left behind” regions and nations. Nearly five years later, the government has little
The California Senate introduced a plan that would shrink the state’s deficit, but still leave a sizable gap. Calling it an early stab at the shortfall, Sen. Leader Mike McGuire, D-North Coast, and Senate Budget & Fiscal Review Committee Chair Scott Wiener, D-San Francisco unveiled a plan last week that cuts $17 billion through program