Issuers that have refunded outstanding Build America Bonds or have plans to do so using an extraordinary redemption provision may have legal backing, regardless of whether bondholders are “unhappy” with the deals, according to the largest bond counsel in the industry. Chas Cardall, a tax partner at Orrick, the bond counsel that worked on the
Stay informed with free updates Simply sign up to the Geopolitics myFT Digest — delivered directly to your inbox. In our age of dispirited democracies and general global funk, where better to seek inspiration on ingenuity and the human spirit than Taiwan? Has anywhere else in the past half century moved on so successfully from
Pittsburgh-based Robert Morris University saw its rating downgraded to Ba1 by Moody’s Ratings last month, joining a wave of small colleges facing ratings pressure due to falling demand. The private university, which has about $92 million of outstanding debt, is part of a growing list of smaller higher education institutions, particularly in the Northeast, that
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Telegram has 900mn users and is nearing profitability, according to the owner of the secretive messaging app, as the company moves closer to a potential blockbuster stock market listing. Pavel Durov told the Financial Times
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Former Conservative deputy chair Lee Anderson has defected to Reform UK, handing the populist rightwing party its first MP and delivering a significant blow to Prime Minister Rishi Sunak. Anderson, picked by Sunak to take
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Reddit is aiming to raise more than $500mn in an imminent initial public offering that could value the social media company at as much as $6.4bn and set the tone for private start-ups weighing plans
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This article is an on-site version of our Inside Politics newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. The extension of oil and gas windfall taxes
At least 500 tonnes of harmful metals leak into the Welsh environment each year from abandoned mines, according to government estimates obtained by the Financial Times. A Freedom of Information request revealed that 129 sites are “certainly, or highly likely, to be causing failures of water quality criteria”, according to Natural Resources Wales (NRW). While
Shortly after a Chinese company opened up nearby, employees at Malaysian contract manufacturer Kemikon walked outside their factory to find sheets of paper stuck to their car windshields. The flyers were from Fengshi Metal Technology, a Suzhou-based rival that operates in similar areas of semiconductor equipment manufacturing. They promised salaries 30 per cent above the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Thomson Reuters has an $8bn war chest to spend on acquisitions and investments in artificial intelligence, according to chief executive Steve Hasker, as it bets that the technology will transform rather than undermine its business
After five months of devastating conflict between Israel and Hamas in Gaza, the Palestinian enclave on the Mediterranean is enduring a humanitarian catastrophe, according to international aid groups. The north of the strip in particular is on the verge of famine: children are dying from hunger, while families are eating weeds and animal feed, prompting
The writer is chair of Rockefeller International Once dismissed as fanatics, the bitcoin bulls must be feeling vindicated. They made an accurate call on the cryptocurrency’s potential for gains — witness the staggering rally under way — and were right, at least in part, for the right reasons. When bitcoin was all the rage at the start
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s accounting watchdog is in talks to move its headquarters out of the City of London to Canary Wharf or Stratford, as its plans to relocate staff to a second office in Birmingham face
Stay informed with free updates Simply sign up to the Climate change myFT Digest — delivered directly to your inbox. The EU is at “higher and higher” risk of systemic financial shocks from climate change, the head of Europe’s environment agency has warned, as research showed the continent should prepare for temperatures at least 3C
A range of global wire services have pulled a Mother’s Day picture of the Princess of Wales and her three children over fears the image of high-profile members of the British royal family may have been digitally manipulated. The Associated Press news agency said it had initially published the photo, issued by the couple’s official
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK prime minister should break up the Cabinet Office and make big decisions with only a handful of key colleagues, according to a report set to be unveiled on Monday by former premiers Sir
Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. Rachel Reeves has said she is “under no illusions” about the scale of the challenge that lies in wait for Labour if elected after the government adopted two of its policies to fund tax cuts.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A confidential UN report has accused Israel of widespread abuse of Gazans it has detained during the war with Hamas, according to a copy seen by the Financial Times. The report by the UN agency
Stay informed with free updates Simply sign up to the Technology sector myFT Digest — delivered directly to your inbox. Surge pricing is something that anyone who takes a ride share on a regular basis has become used to. Try calling an Uber or Lyft on a rainy day during the dinner hour or around
Over a 40-year career, Scott Melbye watched the US uranium industry fall from its position as the world’s leading producer of the radioactive ore that powers nuclear reactors to an also-ran with negligible production. Now, the president of the Uranium Producers of America is leading an industry charge to revive mothballed mines and invest in
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. Americans are increasingly happy about the economy but reluctant to give credit to Joe Biden, according to a new poll that underscores the US president’s challenges as he squares off against Donald Trump in this