It was the death of a baby at an overcrowded reception centre for asylum seekers in the Netherlands last year that convinced Prime Minister Mark Rutte that Europe was once again grappling with a migrant crisis. The three-month-old died in a sports hall in a village on the German border. The images of an overwhelmed
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK pay deals are running at levels that will incline the Bank of England to keep interest rates high for longer than other central banks, as employers prepare for a big rise in the wage
Shares of FedEx fell more than 9 per cent in extended trading on Tuesday, after the company cut its full-year revenue outlook and warned of a weaker demand environment. The US delivery company, which is a bellwether for global growth, said it expected a “low-single-digit percentage decline” in revenue for the fiscal year, having previously
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Colorado’s supreme court has barred Donald Trump from being included as a candidate in the state’s Republican presidential primary ballot due to his involvement in efforts to overturn the results of the presidential election that
Municipals were steady to slightly firmer in spots while Connecticut priced for institutions with yields lowered from Monday’s retail offering. U.S. Treasury yields fell and equities made more gains. The two-year muni-to-Treasury ratio Tuesday was at 58%, the three-year at 58%, the five-year at 59%, the 10-year at 59% and the 30-year at 87%, according
Stay informed with free updates Simply sign up to the Russian business & finance myFT Digest — delivered directly to your inbox. Austria’s Raiffeisen Bank International has concluded a complex asset swap arrangement with Oleg Deripaska that skirts EU sanctions restrictions to hand the Russian oligarch roubles worth €1.5bn. In a statement on Tuesday, RBI
Charting how different states used $350 billion worth of State and Local Fiscal Recovery Funds reveals Florida rehabbing National Guard structures, and New Hampshire investing in weatherproof wireless internet connectivity devices, while Illinois used $1.5 billion to support the operation of state agencies. As money from the American Rescue Plan Act is in the process
If bondholders are not allowed a lien on Puerto Rico Electric Power Authority revenues, it could “threaten the continued viability of the primary revenue stream for vast swaths of municipal public works projects,” 14 attorneys general and the Securities Industry and Financial Markets Association said in friend of the court filings with the First Circuit
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Emmanuel Macron’s government was thrown into crisis on Tuesday as the French president’s centrist alliance splintered and several of his ministers threatened to resign ahead of a crucial parliamentary vote on a toughened version of
A bill that would regulate public-private partnerships in the U.S. Virgin Islands passed a key committee Monday with support from legislators and the heads of almost a dozen territorial government agencies. Projects ranging from a planned stadium to highways, tunnels, schools, bridges and hospitals were raised as potential P3 candidates during a hearing before the
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ukrainian army chiefs have asked Volodymyr Zelenskyy to mobilise up to 500,000 people as the country gears up for a protracted war of attrition against Russia next year. Speaking at a year-end press conference
The rebound in the cruise industry, which has now more than recovered all the ground it lost during the pandemic, has benefited at least one municipal bond issuer. The Canaveral Port Authority, which serves the important central Florida tourism market near Orlando, recently saw its revenue bond rating raised to A from A-minus by Fitch
When casino developers were clamoring to run Chicago’s first casino, then-Mayor Lori Lightfoot’s administration all but promised a windfall. City leaders predicted a “material improvement to revenues” from the Chicago casino, the result of 2019 legislation that grew Illinois gambling by nearly 50%. And when Rhode Island-based Bally’s Corporation won the coveted casino license, Bally’s
Stay informed with free updates Simply sign up to the Global Economy myFT Digest — delivered directly to your inbox. It is just under four years since the world became aware of Covid-19. This triggered a huge decline in economic activity, followed by a swift overall recovery, the Russia-Ukraine and now Gaza wars, soaring prices
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Container shipowners increasingly abandoned one of the world’s busiest trading routes on Tuesday, with many of the world’s largest cargo vessels diverting to avoid the Red Sea amid mounting attacks from Iranian-backed rebels in the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Michael Gove on Tuesday insisted he had not “abandoned” housing targets following criticism over new planning policies that would give local authorities latitude to build fewer homes than official calculations suggest are needed. In a
Signa Holding is in negotiations to sell half of New York’s Chrysler Building to urgently raise cash, the collapsed European property company’s administrator has said, as he warned of a protracted and financially painful wind-down ahead. Creditors of the Austrian company, founded by swashbuckling young developer René Benko, met in Vienna on Tuesday to hear
Demonstrators gather during a protest against the expiration of the eviction moratorium outside of the U.S. Capitol in Washington, D.C., U.S., on Sunday, Aug. 1, 2021. Stefanie Reynolds | Bloomberg | Getty Images Renters burdened by unaffordable housing costs may be at a higher risk of dying sooner, according to a new study published in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Eurozone banks must prepare for the risk of funding sources becoming “more volatile” next year, said the region’s top banking supervisor as it warned lenders against complacency amid mounting geopolitical and economic risks. The European
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Meta has been accused of being too heavy-handed in its moderation of content related to the Israel-Hamas conflict and was urged to offer greater protection to freedom of expression while fulfilling its human rights obligations.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. When the top two teams in the Premier League go at each other this weekend, America can’t lose. Arsenal and Liverpool, like AC Milan, Roma, Marseille, Lyon, Chelsea and (for now) Manchester United, are both