Municipal bond mutual funds saw small inflows, the secondary market showed constructive trading with firmer prints in spots and the asset class is likely to see slightly positive returns for the month. Equities ended in the black, with the Nasdaq leading the rally. Triple-A yields were bumped a basis point or two, depending on the
A wave of tax cuts that states passed amid COVID-related surpluses may prove a financial problem for the medium and long term, analysts said Thursday. “The examination of states’ post-pandemic fiscal trajectories reveals a concerning trend: revenue growth has decelerated in many states and the implementation of permanent tax cuts could leave some with depleted
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chancellor Jeremy Hunt has been urged by Conservative colleagues not to put “politics ahead of economics” as he considers last-minute plans to scrap or scale back Britain’s “non-dom” tax rules. Hunt and Prime Minister Rishi
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has been accused of “talking down” Britain with “irresponsible” rhetoric after he claimed there was a “growing consensus that mob rule is replacing democratic rule” in the UK. The prime minister triggered a
The Biden administration Thursday sent out nearly $10 billion in public transit funding to fulfill the first five months of fiscal 2024 appropriations despite the lack of a full-year spending plan from Congress. The partial-year funding — from last October through March 1 — keeps spending flat at fiscal 2023 levels while the government operates
A bill that includes additional bonding authority for a University of Utah Health medical campus project hit with ballooning costs passed the legislature Wednesday. A provision in Senate Bill 241 would increase the amount of revenue bonds for the West Valley Health and Community Center to $800 million from $400 million. The University of Utah
In this article TREE Follow your favorite stocksCREATE FREE ACCOUNT Fuse | Corbis | Getty Images When you buy or sell a home, your real estate agent’s commissions can trim thousands of dollars off the sale price — but many consumers don’t realize you can negotiate those terms. Nearly a third, 31%, of homebuyers and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A top Morgan Stanley banker at the centre of its legal battle with Frasers has said he was concerned some in the City would have regarded its leadership as being “out of your minds” if
The Internal Revenue Service would allow tax-exempt bonds to be issued for space infrastructure under bipartisan legislation introduced Wednesday in Congress, with supporters like the state of Florida saying spaceports should have the same access to low-cost financing as air and seaports. “As adversaries like China continue to expand their presence in space, it’s imperative
Indiana saw a tax revenue windfall in January, with general fund revenues coming in 15.8% above last January’s number and 9.3% above December’s projections. But the office of Chief Economist Hari Razafindramanana cautioned that individual income tax collections surpassed estimates only because of “unusual timing factors that are currently expected to normalize… over the coming
The executive director of the Oklahoma Turnpike Authority, which is undertaking a $5 billion, bond-financed expansion program, resigned Wednesday after the state attorney general issued an opinion regarding the legality of holding multiple governmental offices. The opinion served as the effective resignation of Tim Gatz, who has headed the OTA since 2016, according to a
Green activists never used to attack accountants. No wonder: bean counters’ work seems dull compared with oil drillers or flamboyant bankers. But last week the IFRS, a doughty global accounting standards body, experienced a “first”: protesters stormed its New York meeting as Brian Moynihan, chief executive of Bank of America, was opining on green audit
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 China economist at UBS Investment Research and author of ‘Making Sense of China’s Economy’ In January, China reported official real gross domestic product growth of 5.2 per cent for 2023, but
Stay informed with free updates Simply sign up to the Financial services myFT Digest — delivered directly to your inbox. Every start-up would love to have a Michael Moritz on their board. As one of the world’s shrewdest and best-connected venture capital investors, Moritz has been around the investment block so many times he probably
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Western nations have expressed concerns about Russia potentially attempting to rekindle a frozen conflict in Moldova on the border with Ukraine. In a rare move, the leadership of the breakaway region of Transnistria on Wednesday
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft, OpenAI and Nvidia are among the investors backing a Silicon Valley start-up that aims to introduce artificial intelligence-powered humanoid robots to the workforce and transform the global labour market. Figure AI said on Thursday
The two largest Palestinian factions, Hamas and Fatah, are holding talks in Moscow on Thursday aimed at ending decades of rivalry to present a united front in pushing for an end to Israel’s offensive in Gaza and its occupation of the West Bank. These latest reconciliation talks come days after the Fatah-led government in the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Dozens of people were killed in northern Gaza on Thursday after the Israeli military opened fire on Palestinians rushing towards trucks carrying food but said some had died in a crush to reach the supplies.
West Virginia State Treasurer Riley Moore warned six more financial institutions that they may be placed on the state’s “Restricted Financial Institution List” if they are found to be “boycotting” the fossil fuels industry. The blacklist is authorized in a 2022 state law spearheaded by Moore authorizing the State Treasury to restrict financial institutions that
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation fell to 2.4 per cent in the year to January, according to the metric most closely watched by the Federal Reserve, bolstering expectations of rate cuts this year. Thursday’s data on Personal Consumption
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Clare Lombardelli, OECD chief economist, has been appointed a deputy governor at the Bank of England, putting her in charge of reforming its monetary policy when it is seeking to quell an inflationary outbreak it