Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. JPMorgan Chase spent about a year discussing a possible deal with Discover Financial before Capital One agreed a $35bn bid for the credit card company, as the largest US bank pursued ways to get control
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Chinese man who worked as a software engineer at Google in California has been charged by the US justice department with stealing artificial intelligence trade secrets from the technology giant while covertly working for
The US has called on Haiti’s embattled prime minister to expedite a “transition” as gangs threaten to take control of the Caribbean country. Ariel Henry is currently in Puerto Rico, apparently unable or unwilling to return to Haiti as gangs regularly attack the airport and police stations. “We are not calling on him or pushing
Loop Capital Markets has added four former Citi and UBS public finance professionals to its ranks, joining the growing list of firms to expand their banking teams in the muni space. John Malpiede, John Giammarino and Alain Garcia will be joining Loop Capital from Citi, and Candace Kelly is moving over from UBS. “The additions
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. New York Community Bank will raise more than $1bn in a deal led by the investment firm of former US Treasury secretary Steven Mnuchin, in an effort to shore up its finances and calm fears
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Canary Wharf Group will receive a £118mn loan from a government housing infrastructure fund to support developing a life-sciences centre, a healthcare diagnostic facility and several hundred new homes. Chancellor Jeremy Hunt flagged the funding
Municipals improved Wednesday, as U.S. Treasury yields fell five years and out and equities saw gains after Fed Chair Jerome Powell indicated rate cuts are still set for this year. “The Fed wants to see continued evidence that inflation is moving closer to target,” said Jeff Lipton, managing director of credit research at Oppenheimer., who
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK taxpayers funded a £15,000 settlement in the libel case brought by a university academic falsely accused by science secretary Michelle Donelan of supporting or sympathising with Hamas, the government said on Wednesday. The payment
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. British fiscal events are essentially political. This is particularly true when an election looms. But they need to have the trappings of economic sense and fiscal probity. This is particularly true for Jeremy Hunt, a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt’s overriding message in his big pre-election Budget was that hard economic choices are paying off in the form of tumbling inflation, improved growth and the promise of more cuts to personal taxes. Left
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt made big changes to the tax regime for so-called non-doms in his Budget, axing the colonial-era concept of domicile in tax and cutting the amount of time that people can benefit from the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The trick is not to give too much attention to the numbers because none of them will hold. This was a payday loan of a Budget, designed to get a hand-to-mouth government from here to
U.S. Securities and Exchange Commission Chair Gary Gensler testifies before a House Financial Services Committee oversight hearing on Capitol Hill in Washington, D.C., on Sept. 27, 2023. Jonathan Ernst | Reuters The U.S. Securities and Exchange Commission on Wednesday voted to adopt new rules that will require most publicly traded companies to disclose climate-related risks
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The campaign of attacks by Yemen’s Houthis on commercial ships claimed its first fatalities on Wednesday when an attack on a Barbados-flagged dry bulk carrier in the Gulf of Aden left at least two seafarers
The headwinds facing the University of Idaho’s plan to acquire the University of Phoenix got a lot stronger this week; as did obstacles toward issuing bonds to fund the $685 million purchase through U of I’s affiliated nonprofit, Four Three Education. On Tuesday, the state’s House of Representatives passed House Concurrent Resolution 26 in a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt’s Budget was described in advance by one cabinet minister as “nuanced, quite subtle”. For Tory MPs looking for a political game-changer, that sounded ominous. Ultimately Hunt delivered a significant personal tax cut —
The New York Metropolitan Transportation Authority and the Triborough Bridge and Tunnel Authority are planning several note and bond sales this month, the MTA said. During the week of March 11, the MTA plans to sell two competitive payroll mobility tax bond anticipation note issues. One transaction will consist of about $500 million of MTA
Harvard University saw strong market reception to $750 million of taxable corporate CUSIPs Tuesday, becoming the latest prestigious university to tap the muni market due to pent-up capital needs amid a steadier rate environment. Goldman Sachs priced for the Presidents and Fellows of Harvard College (Aaa/AAA//) $750 million of taxable corporate CUSIPs, Series 2024A, Tuesday.
The Federal Reserve’s dormant emergency lending program for state and local governments set up during the COVID-19 pandemic had a surprise return to the spotlight last Friday when Sen. Rand Paul, R-Ky., introduced a measure banning the central bank from reviving the program or buying municipal bonds in the future. “It was never intended that
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK chancellor Jeremy Hunt claimed that Britain’s economy has “turned the corner”, as his pre-election Budget put a £10bn personal tax cut at the heart of the Conservatives’ bid to overturn Labour’s polling lead and
The US private sector added 140,000 jobs in February, signalling a modest uptick in the labour market ahead of job openings figures later this morning and Friday’s official non-farm payrolls report. February job gains surpassed 111,000 in January but fell below the 150,o00 that economists polled by LSEG predicted. Wage growth for those who remained