Stay informed with free updates Simply sign up to the Pensions industry myFT Digest — delivered directly to your inbox. Poorly performing pension plans will be banned from taking on new business as part of a major shake-up of Britain’s £120bn workplace retirement market, under government plans unveiled ahead of next week’s Budget. Chancellor Jeremy
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Attorneys for shareholders who defeated Elon Musk’s $56bn Tesla pay package have asked a Delaware state court to award them shares in the electric vehicle maker worth nearly $6bn as payment. In a filing with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. At some point, I manage to bend most conversations towards my pet obsessions, one of which is climbing. I am not very good at it. But I do try hard. I bring it up because
The Ohio state Senate on Wednesday passed a bill that included $1.27 billion in bonds for state government agency facilities, K-12 classrooms, local subdivisions’ capital improvement projects and conservation projects. The bill, HB 27, was originally intended only to give students more information about college fees and loan repayment. And Senate Democrats voiced reservations about
Municipals were little changed to end the week ahead of an estimated $6.1 billion new-issue calendar. U.S. Treasuries were firmer, and equities ended up. Muni yields were steady throughout the week, ignoring small but “well-behaved” UST movements, which stayed “in a relatively narrow range despite some important data releases,” according to Barclays PLC strategists Mikhail
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Joe Biden rebuked Israel on Friday, saying it had “no excuses” for not letting more aid into Gaza as he announced the US will soon begin airdropping food into the enclave. Biden’s announcement and criticism
It was dark when roughly 30 trucks of food reached an Israeli checkpoint on Al Rashid Street in Gaza City, a stretch of Mediterranean road dotted just four months ago with hotels, wedding halls and ice cream stands. But around 4am on February 29, videos shared by Palestinians show, it was a dystopian landscape —
Hawaii lawmakers grilled the budget director Thursday as recovery costs for the Maui wildfire are coming in double expectations, putting the budget at risk. During a hearing before the Senate Ways and Means Committee, Budget Director Luis Salaveria was asked when Gov. Josh Green’s administration realized costs to temporarily house people displaced by the fire
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has announced plans to crackdown on extremist activity in British universities and revoke visas from people who “spew hate on protests or seek to intimidate people”. The UK prime minister on Friday stepped
On Thursday the Internal Revenue Service provided updated guidance on how utility companies are allowed to use securitization to recover costs through rate increases to customers. The new regulations are denoted by the IRS as Rev. Proc. 2024-15 which updates Rev. Proc. 2005-62. The ruling expands the definition of public utility companies to include publicly owned power
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Britain’s Labour party is on alert for Rishi Sunak to use next week’s Budget as a springboard for a surprise May general election, including using the fiscal event to steal some of the opposition’s key
Congress is expected to begin voting next week on the first set of fiscal 2024 budget bills – five months into the fiscal year – after the parties reached another short-term deal to avert a government shutdown Friday. The two chambers on Thursday passed a stopgap bill that extends the deadline for four spending bills,
The writer is author of ‘Liberalism and Its Discontents’ According to the non-profit Freedom House, there has been a steady decline in the quantity and quality of liberal democracies around the world for the past 18 years. Among the backsliders, there is no case more serious than that of the United States. American institutions have
After years of soliciting market feedback, new Municipal Securities Rulemaking Board Rule G-46 on the duties of solicitor municipal advisors is in effect as of March 1, setting the stage for closer scrutiny from both municipal advisors and the Securities and Exchange Commission. Solicitor municipal advisors are a much smaller crowd than traditional municipal advisors
At JPMorgan Chase, investment banking head Vis Raghavan regularly told recruits, “You’re either reading the news or making the news.” The hard-nosed advice was a key tool Raghavan used to motivate employees, win deals and help transform JPMorgan into the leading global investment bank. After more than 20 years at the bank and less than
Enjoy complimentary access to top ideas and insights — selected by our editors. A power struggle over the governance of the Oklahoma Turnpike Authority, a university’s claims of federal agency retaliation for suing the Department of Education leading to a Moody’s ratings downgrade, and a Houston mayor ending a legal dispute with firefighters that could
Georgia Gov. Brian Kemp on Thursday signed the state’s $37.5 billion amended fiscal 2024 budget, $5 billion more than the original plan passed last year. “I am proud to sign a budget that further invests in our priorities of public safety, education and workforce development, and strengthened infrastructure to keep Georgia the best state to
Global exports from Kentucky rose 16.6% year-over-year to a record high of $40.2 billion in 2023, as more products made in the Bluegrass State were shipped around the world. Aerospace products and parts led the state’s exports by category in 2023, according to data released by the U.S. Census Bureau, Foreign Trade Division and WISERTrade.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Blackstone Group’s $60bn property fund met all of its investors’ redemption requests in February, marking the first time it did not limit such withdrawals in more than a year. The property fund said in a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Wirecard fugitive Jan Marsalek was recruited by Russian intelligence at a meeting on a yacht in July 2014, sparking a decade-long association with the country’s security services, according to new reports. An investigation by The
Germany and France on Friday expressed alarm at the deaths of dozens of Gazans seeking aid as Israel faced an outcry over its troops opening fire close to a humanitarian convoy. Germany, which has been a staunch ally of the Jewish state since its war with Hamas began in October, called for an explanation from