Russian oil tankers circumventing western sanctions are relying on insurance that appears impossible to claim against, according to leaked documents exposing the risks taken by Moscow’s “dark fleet”. The cache of shipping files, seen by the Financial Times and the Danish media group Danwatch, reveals that a number of Russian vessels travelling from the Baltic
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is chief strategist global gas at S&P Global Commodity Insights Will Europe go back to Russian gas? The EU has vowed to give up once and for all its “addiction” to Russian gas,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. ByteDance’s US investors are reviewing a range of options to address US government concerns over TikTok while salvaging their investments, including steps to take voting control of the popular video-sharing app, said people familiar with
Argentina’s senate has rejected a sweeping emergency decree issued by president Javier Milei to deregulate the economy, serving a major blow to the libertarian leader. Senators voted 42 to 25 to reject the decree, with four abstentions. Issued in December, Milei’s plan modifies or eliminates more than 300 regulations on areas such as the rental
Municipals were weaker Thursday, but outperformed U.S. Treasury market losses, as the final large deals of the week priced, including several housing issues. Equities ended down. Municipal bond mutual fund inflows continued for the third consecutive week as LSEG Lipper reported investors put $295.5 million into the funds for the week ending Wednesday with high-yield
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Prime Minister Rishi Sunak has ruled out calling a general election in May, dashing the hopes of opposition MPs who believed there could be a new UK government by the summer. Sunak told ITV news
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US-Israel relationship erupted on Thursday after America’s most prominent Jewish politician called for Benjamin Netanyahu’s hardline government to be replaced, accusing him of weakening his country’s “political and moral fabric” and being an “obstacle
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. RedBird IMI is leaning towards a full sale of the Telegraph Media Group following the UK government’s decision to block its Abu Dhabi-backed takeover of the rightwing newspaper, according to two people with knowledge of
In an April 2 special election, voters in Missouri’s Jackson County, home of Kansas City, will decide whether to impose a countywide sales tax to direct more than $50 million per year for 40 years toward a new ballpark in the Crossroads district of midtown Kansas City. In addition to funding a new stadium for
IDEA Public Schools in Texas will operate under state oversight as part of a settlement agreement with the charter school network, which was the target of a probe since 2021 into alleged financial and operational improprieties. The Texas Education Agency (TEA) appointed two conservators to oversee and direct IDEA’s actions, facilitate a needs assessment, conduct
BofA Securities has hired three former Citi employees to help it grow and expand into aviation technology and housing securitization. The latest hires from Citi are Bob DeMichiel as a managing director and senior investment banker for the airline and transportation sector, and Raymond High and Mike Koessel as directors and senior investment bankers for housing and securitization. “These
A rally in Italian government bonds has narrowed the closely watched gap between the country’s borrowing costs and Germany’s to the lowest level in more than two years, as investors become increasingly optimistic about the prospects for Italy’s economy and position for interest rate cuts. The so-called spread, or gap, between 10-year borrowing costs in
Stay informed with free updates Simply sign up to the UK banks myFT Digest — delivered directly to your inbox. The writer is the author of several books on the City and Wall Street “We’re not a . . . bank” says Nationwide’s website. “In that case, why are you considering buying one?” the mutual’s members might ask
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. There are not many issues that attract bipartisan support in Washington these days. TikTok, however, is one. On Wednesday, the House of Representatives passed a bill to ban the social media app unless it is
Fitch Ratings affirmed the A rating on Miami-Dade County, Florida’s $1.8 billion of senior lien seaport revenue bonds issued for the county’s seaport department, PortMiami. The rating outlook is stable. The senior lien bonds are secured by a first-lien pledge of seaport net revenues. Fitch has also rated the $442.5 million of the county’s Series
Portra | E+ | Getty Images Spring is almost here — and people looking for a new rental face a competitive market. Asking rent prices in the U.S. jumped to $1,959 in February, according to Zillow Group’s latest Rental Market Report. That’s up just 0.4% from the month prior, but a 3.5% increase from a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. More companies have defaulted on their debt in 2024 than in any start to the year since the global financial crisis as inflationary pressures and high interest rates continue to weigh on the world’s riskiest
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The judge who oversaw Tom Hayes’ conviction for conspiring to rig the Libor interest rate denied him a fair trial by giving “extraordinarily unfair” directions to a jury, the former trader’s barrister argued in a
As the Bipartisan Infrastructure Legislation hits the halfway implementation mark, federal officials are urging municipalities to lobby for a reauthorization. The BIL, also known as the Infrastructure Investment and Jobs Act, promised over a trillion dollars of infrastructure funding to states, municipalities, and Native American tribes when it was launched in 2021. The money comes with
In the Closing Remarks of a Compliance Conference on Dec. 7, the Director of the Office of Municipal Securities of the U.S. Securities and Exchange Commission noted the SEC recently finalized its cybersecurity rule for public companies. The Director then suggested that “everyone take a minute to review the Adopting Release for the rule because
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Beijing has hit out at US legislation to ban TikTok as former Treasury secretary Steven Mnuchin said he was assembling a consortium to buy the app from its Chinese owner. Foreign ministry spokesperson Wang Wenbin