Man Group, the world’s largest publicly listed hedge fund, is retiring the GLG brand and merging some of the firm’s teams as it advances into credit markets, in the first big changes made by its new chief executive Robyn Grew. The firm is dropping the brand, one of the best known in the industry, and
The 2024 US presidential candidates’ campaigns and the political action committees supporting them released several gigabytes of data on Wednesday. Here are four things we learned. Biden has much more money to spend than Trump, whose legal problems are sucking up cash Joe Biden led Donald Trump in the 2023 money race, with his campaign
Municipals rallied Thursday as the Triborough Bridge and Tunnel Authority doubled the size of its deal to $1.6 billion while muni mutual funds saw inflows hit nearly $1.5 billion. U.S. Treasury yields fell and equities improved. Muni yields were bumped two to 12 basis points, depending on the curve, while UST yields fell six to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Amazon reported accelerating sales growth in its cloud division and a healthy outlook for the start of the year, as earnings came in ahead of Wall Street’s expectations. Sales at Amazon’s closely watched cloud computing
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple’s revenue returned to growth during the holiday period, beating analysts’ expectations with a boost from its services division and solid iPhone sales, but ongoing concerns about declining sales in China made investors wary. Apple’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Meta, the parent of Facebook and Instagram, has announced its first ever dividend and an additional $50bn in share buybacks as bumper fourth-quarter results sent its shares up by more than 12 per cent in
On Wednesday the House passed new legislation that seeks adjustments to Low-Income Housing Tax Credits issued by the Treasury that lowers the volume requirements of state-issued private activity bonds. The Tax Relief for American Families and Workers Act passed via a 357 -70 vote featuring strong bipartisan support. It stands on two legs of expanding
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Joe Biden has approved financial sanctions on Israelis responsible for “extremist settler violence” against Palestinian civilians in the West Bank, amid rising tensions between the US and Israel over a two-state solution in the region.
Louisiana will kick in more money — and get a piece of toll revenue — under a revised public-private partnership for a $2.1 billion bridge that state officials signed off on Thursday. Bonds to pay for the deal, which marks the state’s largest P3 yet, will hit the market in early April under the current
This article is an on-site version of our Britain after Brexit newsletter. Sign up here to get the newsletter sent straight to your inbox every week Good afternoon and happy fourth anniversary to all the good burghers of Brexitland. You might think, four years after the UK formally quit the EU, there wouldn’t be much
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Milton Friedman believed the “long and variable lags” of active monetary policy made its goal of hitting an inflation target essentially unachievable. Central bankers invoked these flaws earlier in this cycle to allay fears of runaway
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mounting losses from banks in the US, Asia and Europe have rekindled concerns about weakness in the US commercial property market, a sector that has been under pressure from lower occupancy levels and higher interest
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. Twenty-five years ago, I heard a clutch of top American financial officials, including Timothy Geithner and Lawrence Summers, offer advice to their Japanese counterparts about how to tackle a property crisis. The essence of their
Appeals court judges this week heard arguments over the scope of liens on Puerto Rico Electric Power Authority revenues in a case widely seen as potentially having major implications for how municipal revenue bonds are treated in debt adjustment proceedings, such as Chapter 9, in the future. The United States Appeals Court for the First
As investors face credit and interest rate risk — two of the more challenging aspects of the market over the past two years — some are looking to alternative investments such as interval funds. For investors who have the flexibility, deeper pockets and risk appetite, the funds, which are closed-end not traded on any exchanges
Recep-bg | E+ | Getty Images Rent costs are beginning come down after record-high asking prices. “Rental markets are cooling, but in a lot of places, it doesn’t mean they’re falling. It means they’re growing at a slower pace,” said Whitney Airgood-Obrycki, senior research associate focused on affordable housing at the Joint Center for Housing
The Florida State Board of Administration Finance Corp. has authorization to sell up to $3.8 billion of taxable revenue bonds this year to buttress the state’s Hurricane Catastrophe Fund. In October, the corporation’s board approved the sale of the taxable pre-event bonds and is contemplating the issuance of $1.5 billion or more of its Series
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shell forecast resilient demand for energy products to continue as it raised the dividend and announced another round of share buybacks after reporting annual profits for 2023 of more than $28bn. Europe’s largest oil and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Conservative justice minister Mike Freer has announced he is stepping down as a member of parliament following death threats and a recent arson attack on his constituency office that he linked to his support for
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shadow chancellor Rachel Reeves has promised a future Labour government would cap corporation tax at its current rate of 25 per cent and retain a big tax break for British businesses. Reeves said the commitment
Apple will release its Vision Pro headset to consumers in the US on Friday, in a test of chief executive Tim Cook’s ability to create a groundbreaking product with mass appeal that can power a new phase of growth at the tech giant. The device is the iPhone maker’s biggest product launch since the Apple