Stay informed with free updates Simply sign up to the Chinese politics & policy myFT Digest — delivered directly to your inbox. China has warned large swaths of its business world, state sector and ruling Communist party that they face an intensified anti-corruption campaign as President Xi Jinping expands his hallmark crackdown on endemic graft.
It was a merchant sailor’s nightmare: armed men in balaclavas dropping from a helicopter before storming the ship’s bridge, ordering the civilian crew to lie down at gunpoint and cutting all communications. The scene played out late last year on the Galaxy Leader cargo ship, which was seized in the Red Sea by Houthi rebels
Representations of cryptocurrency Bitcoin are placed on a PC motherboard in this illustration taken June 16, 2023. Dado Ruvic | Reuters Crypto investors are waiting for the Securities and Exchange Commission to approve a raft of spot bitcoin applications, likely Wednesday With a spot bitcoin ETF now looking very real, attention is turning to the
Michigan’s Lansing Board of Water and Light plans to sell $350 million of tax-exempt bonds this month in a deal that would fund a tender offer for $232.6 million of outstanding debt. The tender offer covers a portion of BWL’s taxable Series 2019B bonds. The utility is also pursuing a current refunding of $4.3 million
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Fujitsu could face “financial sanctions” to help fund compensation for victims of the Post Office scandal if the Japanese software company is found to be at fault, the postal affairs minister has said. Kevin Hollinrake
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has announced new legislation to overturn the convictions of hundreds of sub-postmasters prosecuted by the Post Office in the Horizon IT scandal. The UK prime minister told the House of Commons on Wednesday
The Massachusetts Municipal Wholesale Electric Company has closed on its first issue of green bonds under its own name to complete the long-term financing of a solar energy project on its Ludlow, Massachusetts, campus. So-called green bonds are earmarked to be used exclusively for climate and environmental projects. The $15 million negotiated deal was underwritten by
A “For Sale” outside a house in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade. David Paul Morris | Bloomberg | Getty Images Mortgage rates moved a little bit higher last week, for the second
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. “I also promise this: a politics that treads a little lighter on all of our lives.” So declared Keir Starmer in his first political foray of what we know will be an election year. After
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Italian film C’è Ancora Domani (There’s still tomorrow) — set in Rome just after the second world war and shot entirely in black and white — opens with a man slapping his wife across
Sir Ed Davey, leader of Britain’s Liberal Democrats, has faced harsh criticism this week for his role in the Horizon IT scandal, after it was revealed that he failed to act on claims that sub-postmasters were being wrongly accused of theft and false accounting by the Post Office. But experts and campaigners say that members
Stay informed with free updates Simply sign up to the US & Canadian companies myFT Digest — delivered directly to your inbox. Trustbusting is very much on the US agenda these days. After years of sabre-rattling about abusive monopolies, American enforcers are facing off against Big Tech with a string of court cases that could
Ali Hall and Julie Lavington set up Sosandar, a UK online retailer of women’s fashion, in 2016. Within a few years, annual sales had grown to £42mn. But their latest growth initiative is not a refreshed digital marketing campaign or the recruitment of new social media influencers. It is shops: the two founders said in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Prices of cryptocurrencies swung sharply on Tuesday after a false post on the US Securities and Exchange Commission’s official X account claimed the regulator had approved the first ever US spot bitcoin exchange traded funds.
Astrobotic Technology on Tuesday confirmed there was “no chance” its lunar lander would be able to land successfully on the Moon, marking the end of a mission that was to have brought the US back to the lunar surface for the first time in 50 years. The Pittsburgh-based space company, which had hoped to be the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The chief executive of Boeing said the company would acknowledge “our mistake” after one of its 737 Max aircraft lost a section of its fuselage in flight last week, as a regulator said it would
Municipals saw a short-end correction Tuesday, with the one-year being hit the hardest, amid two large deals in the primary market. U.S. Treasuries were little changed and equities ended down. Triple-A yields rose six to 11 basis points on the short end, as more investors put pressure there amid what many consider to be too
The U.S. District Court’s interpretation gave more to Puerto Rico Electric Power Authority bondholders than legally allowed, the Puerto Rico Oversight Board told the First Circuit Court of Appeals. Not only are the bondholders wrong in claiming a lien on all revenues coming to PREPA but District Judge Laura Taylor Swain was wrong in awarding
Stay informed with free updates Simply sign up to the ESG investing myFT Digest — delivered directly to your inbox. Launches of funds claiming environmental, social or governance attributes all but dried up in the past six months, as investors baulked at increased scrutiny of sustainability claims by companies and asset managers. Just six funds
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government awarded billions of pounds of contracts involving Fujitsu on Rishi Sunak’s watch after the Japanese company’s software was found to be at fault in the Post Office scandal in a landmark 2019
The municipal bond market is taking a wait and see approach about the departure of Mitch Landrieu, who has been operating under the unofficial title of “infrastructure czar,” as he prepares for a new role on President Biden’s campaign staff. According to the Biden administration Landrieu oversaw, “over 40,000 infrastructure projects spread across 4,500 communities