Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. The Pentagon failed to properly track more than $1bn worth of weapons the US provided to Ukraine, according to a watchdog’s report that could fuel concerns about whether the arms had been diverted from
The Biden administration Wednesday announced $623 million for cities and states to help build a national electric vehicle charging station network, a prominent piece of the president’s infrastructure agenda that so far has been off to a slow start. The grants mark the first round of funding from the Infrastructure Investment and Jobs Act’s $2.5
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. The European Commission is willing to bow to some of Hungary’s demands in order to secure a €50bn support package for Ukraine, according to senior officials. Brussels has been working to find a solution
Are you optimistic about 2024? The answer from the World Economic Forum would seem to be “heck, no”. Each year, the WEF asks 1,500 of its “community” — elite business leaders, academics, politicians and so on — to cite key risks, and then crunches that with Marsh McLennan and Zurich Insurance Group. The latest reading,
John Williams, president of the Federal Reserve Bank of New York, said in a speech Wednesday that he doesn’t expect the central bank’s quantitative tightening efforts to slow down any time soon, citing ample reserves in the banking system and continued activity in the Fed’s overnight repurchase facility.Bloomberg News NEW YORK — Recent developments on
Cloud-based software platform Adaje has integrated fintech firm ficc.ai’s pricing algorithms into its modeling software to enhance the platform’s tender offer modeling. This integration will improve Adaje’s bond modeling suite by creating a more efficient and exact evaluation of tender offer scenarios, the firm said. Adaje’s platform streamlines bond issuance from concept to post-issuance management
Insurance companies have reduced their collective holdings by almost $42 billion or 9.5%, according to Federal Reserve Data. Together, banks and insurance companies reduced their holdings by 10%, or $102 billion in 2023, the Municipal Securities Rulemaking Board’s 2023 Municipal Market Year in Review said. The MSRB provided a few reasons for these trends. John
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Post Office investigator said he was taking instruction from the company’s lawyers when he claimed there were no problems with the Horizon IT system and denied acting like a “mafia gangster” in his dealings
These days, housing affordability is a struggle for nearly everyone. But for young adults just starting out, soaring home prices and sky-high rents have become one of the greatest obstacles to making it on their own. Nearly one third, or 31%, of Generation Z adults live at home with parents because they can’t afford to buy
CFOTO | Future Publishing | Getty Images The bitcoin exchange-traded funds launching Thursday after the SEC’s long-awaited approval come at a wide variety of price points, with signs that a fee war is already underway. The Bitwise Bitcoin ETF (BITB) has the lowest expense ratio of all the new bitcoin funds, at 0.20%. Several other
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US headline inflation edged up to 3.4 per cent for the year to December, as the Federal Reserve deliberates over when to cut interest rates from their 23-year-high. The US consumer prices figures published on
If North Carolina state lawmakers want to dismantle the state’s defined benefit pension system for teachers and public employees, they should declare their intention and debate such changes in a public process, State Treasurer Dale Folwell said Tuesday. The state legislature passed a provision in the fiscal 2024 budget that let UNC Health Care and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The British government demonstrated rare imagination and initiative when it held an international summit in November to discuss the existential risks posed by artificial intelligence. Tragically, successive British governments have shown a shameful failure to
Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), during an interview in Washington, DC, US, on Thursday, July 27, 2023. Andrew Harrer | Bloomberg | Getty Images Securities and Exchange Commission Chair Gary Gensler’s statement on why the agency has approved the listing and trading of a group of spot bitcoin ETFs
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The boss of shipping giant AP Møller-Maersk has warned it could take months to reopen the crucial Red Sea trading route, risking an economic and inflationary hit to the global economy, companies and consumers. Vincent
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. By 1890, so many European immigrants were arriving at New York City’s “Golden Door” that the US government began building a new reception station on Ellis Island. That year, 14.8 per cent of the American
Two days before the Slovakian election in September, a mysterious recording went viral on social media. In it, liberal opposition candidate Michal Šimečka could apparently be heard plotting with a journalist to buy votes and rig the result. “It will be done in a way that nobody can accuse you of taking bribes,” Šimečka purportedly
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump is expected to appear in a New York court on Thursday for closing arguments in a civil fraud trial that has already impugned his reputation for financial prowess and may yet imperil his
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An oil tanker linked to a dispute between Iran and the US has been seized off the coast of Oman, in a raid UK maritime authorities said was carried out by individuals in black military-style
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apropos the SEC approving spot bitcoin ETFs overnight, choose your fighter. Deutsche Bank: ‘this is good for bitcoin! Aargh!!!!’ Despite prevailing consumer sentiment leaning towards negativity,* we anticipate further [bitcoin] price increases in the coming
Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. Hedge funds are challenging private equity firms over restrictions that dictate who can lend to or buy the debt of buyout-backed companies, weighing legal action to capitalise on a surge in corporate distress. Private equity