United Airlines said it had its “busiest travel period in history” in late December, a highlight in forecast-beating fourth-quarter results that helped send shares higher in after-hours trading. However, the Chicago-based airline warned that the recent grounding of its fleet of Boeing 737 MAX 9 jets would result in a deeper adjusted loss in its
BEIJNG, CHINA – NOVEMBER 13: Illuminated skyscrapers stand at the central business district at sunset on November 13, 2023 in Beijing, China. (Photo by Gao Zehong/VCG via Getty Images) Vcg | Visual China Group | Getty Images Deflation may soon start biting into Chinese growth, as Beijing looks at another three to six months of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US and UK launched another round of joint air strikes against Houthi targets in Yemen on Monday, the second time that Britain has been directly involved in the military action targeting the Iran-backed rebel
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. European diplomats believe the UK government’s refusal to rule out a snap general election this spring lies behind “delays” to an upcoming meeting of the European Political Community in Britain. Several EU ambassadors have grumbled
Conservative ministers have “opened themselves” up to the charge that a new voter identification scheme is designed to benefit the Tory party, according to the head of the UK elections watchdog. John Pullinger, chair of the Electoral Commission, warned that the “very, very tight” rules that will force voters to carry ID at this year’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nikki Haley lashed out on Monday at what she said were Donald Trump’s “lies”, as she urged voters in New Hampshire to defy the “political class” backing the former president ahead of Tuesday’s pivotal primary
A California plan to build a tunnel for freshwater to bypass the Sacramento–San Joaquin River Delta has run into a legal obstacle. A Sacramento County Superior Court judge has denied the California Department of Water Resources request to validate $16 billion in bonds to finance the Delta Conveyance Project. The Delta tunnel project would divert
Municipals were mixed Monday ahead of a heavy new-issue slate while U.S. Treasuries were better and equities saw smaller gains after last week’s record-breaking moves. Munis continue to struggle in 2024, with the asset class seeing negative returns of 1.01% so far this year. This is a turnaround “from the last quarter of 2023 in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple has paid a Rbs1.18bn ($12.3mn) fine into Russia’s state budget, after a court in Moscow found the US tech giant guilty of abusing its dominant market position through the App Store. FAS, Russia’s anti-monopoly
The Municipal Securities Rulemaking Board is currently wrestling with adding AI to its EMMA system in preparation for a machine readable future for financial disclosure. “Last year, we received almost 12,000 primary market submissions from you, mostly in the form of official statements,” MSRB CEO Mark Kim told the Government Finance Officers Association’s Debt Committee.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. After more than three months of Israel’s devastating Gaza war, Arab states are developing a plan they hope will bring an end to the conflict and lay the foundations for a sustainable peace. At the
The Financial Industry Regulatory Authority has fined Brad Brooks, former chief compliance officer for Titan Securities for misrepresentations and omissions in connection with two municipal securities related private placements, as well as Rockefeller Financial for its failure to disclose certain mark-ups and mark-downs in municipal securities transactions. FINRA handed down the penalties in two separate
Allan Katz has been named chief financial officer at Siebert Williams Shank, the firm announced on Monday. Katz comes to Siebert from Guggenheim Securities, where he was also CFO. Katz is well known for guiding operational improvement and expense control in the financial services sector, the firm said. Guggenheim Securities is a FINRA-regulated broker-dealer. Katz was there
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Bernard Arnault is to nominate two more of his sons to the board of LVMH, further consolidating the hold of the controlling family’s next generation over the world’s biggest luxury group. Both Alexandre, 31, and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Christine Lagarde is performing poorly or very poorly as president of the European Central Bank, according to most respondents in a union survey of its staff that suggests internal dissent has surged in recent years.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Freshfields Bruckhaus Deringer’s former global head of tax should be spared jail time for his alleged role in a multiyear dividend tax fraud, his lawyer told a Frankfurt court on Monday. Ulf Johannemann, who was
Stay informed with free updates Simply sign up to the UK employment myFT Digest — delivered directly to your inbox. A shift towards shorter working hours for men has been a big factor in the labour shortages seen in the UK since the pandemic, according to analysis published on Monday by the Office for National
The top bond counsel in 2023 handled a combined $361.721 billion across 7,164 bond issues versus $359.189 billion in 7,882 transactions in 2022. The top 10 bond counsel, which welcomed three newcomers, accounted for $168.232 billion across 2,118 issues in 2023. The additions, Stradling Yocca Carlson & Ruth, Bracewell and Gilmore & Bell, knocked Chapman
The budget proposed last week by New York Gov. Kathy Hochul shows fiscal discipline, analysts said, noting that the spending plan takes advantage of New York’s strong economic position to prepare for the future while still leaving some long-term questions unanswered. Her fiscal 2025 budget plan asks the state Legislature for $233 billion of all-funds
Moody’s Investors Service upgraded New York University Langone Hospitals’ $3.2 billion of outstanding revenue bonds to A1 from A2 and revised the outlook to stable from positive. “The upgrade reflects an expected continuation of very strong and consistent operating performance and revenue growth relative to peers, driven by NYULH’s very strong market position and highly
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Polish Prime Minister Donald Tusk has pledged to make his country the “most reliable” backer of Ukraine, as western allies struggle to approve further financial and military assistance nearly two years into Russia’s full-scale