Elon Musk’s $55bn pay package from Tesla has been voided by a Delaware judge, who ruled that the unprecedented compensation was improperly approved by the automaker’s board of directors and had short-changed Tesla shareholders. The ruling, in a case brought by Tesla shareholders, ordered Musk to return the granted shares in a manoeuvre called rescission,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alphabet narrowly missed forecasts for growth in its advertising business, sending its shares down as much as 5.5 per cent in after-hours trading and overshadowing a strong final quarter of the year. Advertising revenue for
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk’s $55bn pay package from Tesla has been voided by a Delaware judge, who ruled that the unprecedented remuneration was improperly approved by the electric-car maker’s board of directors and had short-changed the company’s
Municipals were slightly firmer Tuesday as new-issues from the New York Thruway Authority and the Massachusetts Development Finance Agency’s Children’s Hospital were well-received. U.S. Treasuries were mixed as were equities ahead of the Fed rates decision Wednesday. Triple-A yields were bumped one to four basis points, depending on the curve, while UST saw yields fall
The University of Washington’s outlook was revised to negative from stable by Moody’s Investors Service and its Aaa issuer rating affirmed ahead of its plans to issue tax-exempt revenue bonds next week. The negative outlook “was driven by the university’s thinning operating performance that reflects both expense pressures in the university’s own operations as well
Outside the White House on Tuesday, Joe Biden walked over to the cameras to say that he had finally decided on the US response to a deadly attack on its troops in Jordan, after two days of talks with his national security team. But the US president tempered that message with another: that he was
The Securities and Exchange Commission has suspended the Municipal Securities Rulemaking Board’s 2024 rate card fee model, returning all fees the MSRB collects to 2023 levels and raising immediate questions about what fees will be applied to bonds that have already sold but have yet to close. The Commission received the MSRB filing one business
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 vowed to “unashamedly champion” Britain’s financial services sector if Labour wins the general election, denouncing politicians who have been “embarrassed” by the City’s success. Reeves will this week launch Labour’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Western exasperation with Viktor Orbán’s behaviour is starting to boil over. The Hungarian leader has long played the role of the EU’s chief antagonist, obstructing its decision-making, undermining its institutions and traducing its democratic values.
In this article MA WFC Follow your favorite stocksCREATE FREE ACCOUNT Svetikd | E+ | Getty Images Housing is typically one of the biggest expenses in someone’s budget, and it’s natural to wonder about the best way to pay that bill. For renters, sometimes it’s possible to pay with a credit card. While you could
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israeli commandos disguised as Arab doctors and patients killed three Palestinian men after entering a hospital in the occupied West Bank, with the Israeli military claiming they were planning future attacks. CCTV footage from the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Hamas said it was “studying” a proposal for a temporary truce in its war with Israel that would be used to free hostages held in Gaza, in return for the release of Palestinians prisoners and
Maryland Democrat Rep. Dutch Ruppersberger, a founder and co-chair of the bipartisan House Municipal Finance Caucus, announced he will step down at the end of his current term. “Clearly he will leave a void,” said Brett Bolton, vice president of federal legislative and regulatory policy at the Bond Dealers of America. “He’s been on the
Getty Images Inflation is cooling. Consumer spending continues to be at record highs, while consumer confidence has been trending up. And, after almost two years of rate hikes by the U.S. Federal Reserve, investors are expecting at least a few cuts to interest rates this year. Their anticipation is understandable: The federal funds rate hasn’t
Recent economic data have made it clear the Federal Open Market Committee will not cut interest rates at its meeting this week and most analysts believe the March 19-20 meeting isn’t in play either, but beyond that, the thoughts about timing and number of rate reductions varies. The rate cuts will begin in June “and
The veteran-owned investment bank Academy Securities has been censured and fined $30,000 by the Financial Industry Regulatory Authority for failing to file Form G-37 reports disclosing the extent of its underwriting base in a timely manner. Without admitting or denying the findings, Academy agreed to the fine and censure in violation of MSRB Rule G-37
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ukrainian President Volodymyr Zelenskyy is preparing to replace his top general in what would be the biggest shake-up of Ukraine’s military command since Russia’s full-scale invasion began two years ago. Zelenskyy on Monday offered
An elite private school catering to Los Angeles’ wealthiest residents is tapping the municipal bond market as it looks to expand its campus and add to its academic offerings. Curtis School is seeking to raise $24.3 million in revenue bonds through the California Enterprise Development Authority in a sale pricing Wednesday. The exclusive elementary school
A sign stands outside an upscale home for sale in the Lake Pointe Subdivision of Austin, Texas. Ed Lallo | Bloomberg | Getty Images Home prices in November fell 0.2% from October, according to the S&P CoreLogic Case-Shiller national home price index. While that may not seem like a lot, it is the first monthly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government has been told to scale back its issuance of long-dated and inflation-linked bonds as pension funds’ appetite for such debt wanes in a “significant structural change” to demand. Gilt issuance plans for
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Russia’s economy will expand much more rapidly this year than previously expected, according to the IMF, as President Vladimir Putin’s military spending feeds through into wider growth. Gross domestic product is forecast to rise 2.6