Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK chancellor Jeremy Hunt’s hopes of offering big pre-election tax cuts have suffered a setback after the Treasury produced internal forecasts suggesting he will have only limited scope for giveaways. The Treasury’s internal analysis said
Municipals saw a more constructive secondary trading session Thursday and mutual funds reported the third consecutive week of inflows while U.S. Treasuries improved. Stocks continued to break records after another report of hotter economic data, which is leading more participants to pare back rate cut timing expectations. LSEG Lipper reported Thursday that investors added $210.6
About £75mn of assets linked to Conservative peer Michelle Mone and her husband have been frozen or restrained by court order as the pair face a National Crime Agency investigation into alleged PPE fraud. The court order seen by the Financial Times covers assets including a six-bedroom Belgravia townhouse, a country estate on the Isle
Guam’s issuer rating was raised to investment grade by Moody’s Investors Service, which cited significant military construction and other federal government support. Moody’s upgraded Guam’s issuer rating, general obligation bonds, hotel occupancy tax bonds, and business privilege tax bonds to Baa3 from Ba1 and raised the COPs to Ba1 from Ba2. The outlook is stable.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. New EU digital regulations will worsen the experience of users of Apple’s products and expose them to security risks, a senior executive at the iPhone maker has claimed. Phil Schiller, who heads up Apple’s App
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel’s foreign ministry has written to diplomatic missions in the country to ask if they have back-up generators and satellite phones in case of a “security escalation”, amid fears its war with Hamas could spiral
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. England’s senior doctors have narrowly rejected a government pay offer aimed at averting further industrial action, as the NHS contends with one of its toughest winters on record. The British Medical Association called on the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak’s allies have claimed that supporters of ex-home secretary Suella Braverman are running an “embarrassing” campaign to bring down the prime minister, at the end of another week of Tory infighting. The claim has
Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. The Federal Trade Commission has launched an inquiry into the partnerships between Big Tech cloud providers and generative AI companies, targeting the likes of Amazon, Microsoft and OpenAI with demands for more information about their
The Securities and Exchange Commission has settled charges against Chicago-based investment advisor Aon Investments and in a separate action, the firm’s former partner Claire Shaughnessy for misleading the Pennsylvania Public Employees’ Retirement System (PSERS) on a certain discrepancy when calculating investment returns. Without admitting or denying the findings, both Aon and Shaughnessy consented to the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple, famously, does not rush into new markets. It holds back, often ceding first-mover advantage to rivals, until it believes it has a sure-fire hit on its hands. Even by the high standards of the
Should the Federal Reserve cut policy rates in March? If you look at the so-called Taylor rule — named after the legendary American economist John B Taylor — the answer is a definite “yes”. After all, this formula — which projects the optimal rate using variables such as price levels, unemployment and real income —
The Oklahoma Senate will not take up an income tax cut during a special legislative session next week as it waits for more information about the state’s financial position. The Republican-controlled chamber will commence and immediately adjourn the session that starts Monday just like it did for an October special session on tax cuts Gov.
President Joe Biden will visit Wisconsin Thursday to announce nearly $5 billion in grants to kickstart transportation projects across the country. The largest grant, of $1 billion, will go to replace the aging Blatnik bridge between Wisconsin and Minnesota, where Biden will make the announcement. President Joe Biden is set to visit Wisconsin Thursday to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Qatari-mediated talks to broker a deal for the release of the remaining hostages held in Gaza have become deadlocked over Israel’s refusal to agree to a permanent ceasefire. The latest Qatari proposal included a pause
Miami-Dade County, Florida Mayor Daniella Levine Cava proposed a $2.5 billion bond referendum to fund infrastructure projects, which voters will decide in November. Proceeds from the “305 Future Ready” bonds would fund housing, septic to sewer conversions, flood prevention and resilient parks, Levine Cava said during her State of the County address Wednesday night at
A “For Sale” sign stands outside a home following a snow fall in Geneseo, Illinois, U.S., on Monday, Jan. 20, 2020. The National Association Of Realtors is scheduled to release Existing Homes Sales figures on January 22. Photographer: Bloomberg | Bloomberg | Getty Images Severe winter weather is hindering home sales across the country, according
Stay informed with free updates Simply sign up to the US economy myFT Digest — delivered directly to your inbox. US gross domestic product grew at an annualised rate of 3.3 per cent during the final quarter of last year, capping off a stronger-than-anticipated 2023 for the world’s largest economy. While the fourth-quarter rate was
Dealer groups representing firms of all sizes are urging the Securities and Exchange Commission to adopt the Municipal Securities Rulemaking Board’s 2024 rate card for fear that reverting back to 2023 levels would cause significant disruption. That’s according to a joint letter signed by the Bond Dealers of America and the Securities Industry and Financial
Mass transit investors are looking past the well-publicized “fiscal cliff” facing public agencies and taking comfort in the more stable revenue streams like sales taxes that back their bonds. “They’re all facing lower ridership and diminishing federal pandemic relief,” said Sheila May, director of municipal bond research at Boston-based GW&K Investment Management. “That narrative is
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. European Central Bank president Christine Lagarde said rapid wage growth was already showing signs of slowing in the eurozone, striking a dovish note on the potential for interest rate cuts even as the central bank