Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. This week, a grim new record was set in the business world: fraudsters used a deepfake bot to trick an employee of a Hong Kong company into transferring $25mn. This is not the first time
Stay informed with free updates Simply sign up to the UK interest rates myFT Digest — delivered directly to your inbox. The UK is set to lag behind its peers in returning inflation to target, a Bank of England interest rate-setter has warned, as she argued for a further increase in the cost of borrowing.
Oppenheimer & Co. Inc. has brought on a pair of former UBS bankers to its public finance team under new public finance chief Elizabeth Coolidge. New York-based Kristin Stephens will head the firm’s Northeast region and Atlanta-based David Moffett will head the Southeast, the firm announced Thursday. “Kristin’s past work with issuers in developing innovative
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US Supreme Court on Thursday expressed doubts about a decision by Colorado’s highest court excluding Donald Trump from the state’s primary ballot, in a high-stakes election case with consequences for the 2024 presidential race.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Hedge funds have torn up their bets against the dollar after the US economy’s unexpected resilience sparked a rebound for the greenback in the first six weeks of the year. Citibank, one of the world’s
The Securities and Exchange Commission has approved amendments to Municipal Securities Rulemaking Board Rule G-12 on uniform practices, adding a section to the rule that makes dealers involved in municipal securities transactions subject to the T+1 settlement cycle, another step towards the larger industry move shortening the settlement cycle. The proposal aligns MSRB Rule G-12
Florida-based plastics recycler PureCycle Technologies announced this week that its subsidiary, PureCycle: Ohio LLC, has agreed to buy out the majority holders of $219.55 million of outstanding private activity bonds tied to its Ironton, Ohio facility, the company’s first polypropylene purification plant. The tax-exempt bonds had $219.55 million in principal outstanding at the time they
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ukrainian President Volodymyr Zelenskyy has dismissed Valeriy Zaluzhny as his top military commander, saying it was time for “renewal” of the country’s armed forces. Zaluzhny will be replaced by the commander of Ukraine’s ground
Stay informed with free updates Simply sign up to the Geopolitics myFT Digest — delivered directly to your inbox. Xi Jinping and Vladimir Putin have rejected US “interference” in their affairs and pledged to strengthen their industrial co-operation after trade between the two countries soared last year. Moscow and Beijing should “cultivate new momentum for
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. Faced with a baby screaming the house down and throwing food on the floor, frazzled parents may be surprised to hear that their beloved offspring is probably the smartest learner in the known universe. But
In 2023 several municipal issuers made tender offers for their not-yet-callable high coupon tax-exempt bonds. In most cases, the intended goal was to refund and save interest. These tenders turned out to be remarkably unsuccessful — the average acceptance ratio was only around 30%. There was a dearth of the usual press releases reveling about
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has attacked Sir Keir Starmer’s decision to water down his flagship green investment programme, saying the move shows the Labour leader lacks a consistent plan. The Conservative prime minister said Starmer had a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Google is releasing Gemini, its latest generative artificial intelligence system, alongside new offerings for businesses and consumers, as the tech giant races Microsoft and OpenAI to commercialise the cutting-edge technology. The search giant said its
The North Carolina Local Government Commission on Tuesday approved the Mecklenburg County and Charlotte-Mecklenburg Schools request for a $2.5 billion bond package. It was the largest amount of tax-exempt financing ever OK’d by the commission. Separately, State Treasurer Dale Folwell noted that the state is on the way to reaching its goal of paying down
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Unilever’s chief executive said he was disappointed by the company’s performance after the consumer goods group reported a further erosion of its market share even as it hailed a return to positive sales volumes. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The listing of SoftBank’s chip unit Arm Holdings was the largest global IPO last year. Its performance significantly boosted the Japanese tech investment group’s net income figure in the last quarter. The good news is
The tremendous growth of separately managed accounts in the municipal market has been spurred on by higher yields, lower fees, the desire for deeper customization along with improvements in technology. Some participants on the Street estimate that SMAs hold as much as $1.5 trillion of munis while others peg it closer to $1 trillion to
Stay informed with free updates Simply sign up to the UK banks myFT Digest — delivered directly to your inbox. NatWest has poached UBS executive Emma Crystal to become chief executive of private bank Coutts, following the exit of Peter Flavel after the Nigel Farage “debanking” scandal. The state-backed bank said on Thursday that Crystal
Stay informed with free updates Simply sign up to the Middle Eastern politics & society myFT Digest — delivered directly to your inbox. Baghdad has warned Washington it is prepared to end the co-operation that allows the US to keep a significant military presence in Iraq, over the repeated American air strikes against Iran-linked militants
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Equity purchases by Chinese banks and brokers’ international arms have helped push net flows to the country’s stock market in to positive territory for the first time this year, a shift that helps Beijing in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk has a gift for prompting questions about how we should order our world. His latest contribution to the debate is a threat to shift incorporation of his electric-car maker, Tesla, from Delaware to