Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Falling inflation is set to prompt the European Central Bank to start cutting interest rates by the second quarter of 2024, according to the majority of economists polled by the Financial Times. Rate-cut expectations have
Stay informed with free updates Simply sign up to the European banks myFT Digest — delivered directly to your inbox. European banks have received a €100bn windfall from rising interest rates over the past two years, but the long-awaited boost has failed to close a persistent valuation gap. Net interest income (NII) climbed from €270bn
Sporting a fresh cropped haircut, Nio co-founder and chief executive William Li was greeted like a rock star by tens of thousands of devoted fans on Saturday night as he took to the stage at the Olympic stadium in Xi’an, China’s ancient central capital. Li, who is often referred to as China’s Elon Musk, has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An ultimately doomed plan for compulsory ID cards was backed by Tony Blair two decades ago despite senior colleagues warning the scheme was a potential “disaster” that would draw comparisons with “Big Brother”, according to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tony Blair attempted to get the BBC to change the tone of its coverage of government policy towards Iraq the day before US and UK forces launched their invasion of the country, it was revealed
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Labour government in 2003 discussed setting up a detention centre for asylum seekers on the Isle of Mull in Scotland or forcibly removing them to a “safe third country” to curb clandestine migration. The
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tony Blair’s Labour government lobbied for a treaty to share the Parthenon marbles with Greece in 2003, accusing the British Museum of “blinkered intransigence” over the contested treasures. In a letter addressed to Blair in
Municipals were steady to firmer Thursday as outflows returned. U.S. Treasury yields rose and equities ended up. The two-year muni-to-Treasury ratio Thursday was at 59%, the three-year at 59%, the five-year at 59%, the 10-year at 59% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read. ICE Data Services
Traders work on the floor of the New York Stock Exchange (NYSE) on the first day back since the Christmas holiday on December 26, 2023 in New York City. Spencer Platt | Getty Images News | Getty Images In each of the past 16 Decembers I have selected and invested personally in 10 of the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US has slapped sanctions on groups in Turkey and Yemen allegedly responsible for funnelling money to Iranian-backed Houthi rebels in a crackdown driven by their attacks on commercial vessels passing through the Red Sea.
Hawaii Gov. Josh Green unveiled last week a proposed $19.2 billion supplemental budget and the results of an oversubscribed $750 million general obligation bond sale. In his proposed budget, Green shifted some capital improvement spending from the general fund to bond funding, pointing to ongoing costs from the Aug. 8 Maui wildfire. Revenue expectations also
The New York Metropolitan Transportation Authority will hold public hearings and accept comments on its plans to implement a new series of tolls for vehicles entering Manhattan’s Central Business District. The 76-day public review process on congestion pricing plan started Wednesday and will run through March 11. The MTA will accept input from the public
The muni market saw a large uptick in taxable bond tenders as issuers saw an opportunity to restructure their debt portfolios to unload taxables that have been trading at deep discounts. Taxable bonds that could be replaced with tax-exempt debt “has been the main target market segment for bond tenders as late (close to 60% of total),
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Private UK investors look set to have withdrawn the highest amount in more than two decades from London-listed equities by the end of 2023 as the cost of living crisis bites, further compounding a flight
The Port Authority of New York and New Jersey’s airports saw their busiest November on record, the agency said Wednesday. Total passenger volume hit 11.5 million people in November, up 3% from the previous November and up 7% from the pre-COVID travel period in November 2019. Still, on a monthly basis, passenger volume was down
Pending home sales in November were unchanged compared with October and 5.2% lower than November of last year, according to the National Association of Realtors. The reading, which is based on signed contracts during the month, is a forward-looking indicator of closed sales as well as the most current look at what potential homebuyers are
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Poland’s government has put the country’s state media group into insolvency, the latest move in a drive by Prime Minister Donald Tusk to overhaul its operations in the face of opposition from the rightwing former
Stay informed with free updates Simply sign up to the Social affairs myFT Digest — delivered directly to your inbox. New year’s resolutions and I have a long history together, and it is not a very happy one. There have been years when I’ve given them up as early as January 1, a few times
NON-FICTION JANUARY Judgement at Tokyo: World War II on Trial and the Making of Modern Asia by Gary J Bass (Picador/Knopf) A magisterial history of the trial of Japan’s wartime leaders — the largely overlooked Asian counterpart to Nuremberg — combines battlefield action, dramatic courtroom battles and the formative years that set the stage for the
Without the money to expand a key artery, Indiana transportation officials are pursuing what they say is an innovative plan to increase the road’s capacity without widening it. The Indiana Department of Transportation’s FlexRoad project spans a 12-mile stretch of the combined Interstate 80 and 94 from I-65 in northwest Indiana across the border to
Doctors and nurses at the Golborne Medical Centre, in one of the UK’s most deprived areas, crowd together in a small examination room, eager to try out a new stethoscope. The instrument looks similar to the ones in use at the clinic, which have not been redesigned for about 200 years. This one however has