Oregon’s march toward adding tolls to its mix of transportation revenues may have hit a snag this week. The Oregon Department of Transportation’s plan to toll Portland-area highways hit opposition from a federal lawmaker before it even hit the governor’s desk. The Oregon Transportation Commission had approved a staff proposal — which includes holding public
Back in 2015, when Volodymyr Zelenskyy was “just” a comedy star with the Kvartal 95 troupe, he joked on television that securing American military aid was “like installation of [a] new app on PC [personal computer]”. “In the beginning it is all smooth and fast” but, when the “last percentage remains”, the process glitches —
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. As far as the Bank of England is concerned, it is too soon for a pivot in the battle against high inflation. That was the strong message from Threadneedle Street on Thursday, just hours after
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The European Central Bank has left interest rates unchanged, even as it cut its inflation forecasts for 2023 and next year. The ECB’s decision on Thursday came as investors ramped up their bets that major
Stay informed with free updates Simply sign up to the Sovereign bonds myFT Digest — delivered directly to your inbox. Global stocks climbed towards multiyear highs while bond yields tumbled on Thursday as traders raised their bets that central banks would begin an aggressive round of rate cuts next year. The sharp moves came after
KTSDesign | Science Photo Library | Getty Images It’s arguably the biggest stock story of 2023: a small number of giant technology companies now make up a very large part of big indexes like the S&P 500 and the Nasdaq-100. Five companies (Apple, Microsoft, Amazon, Nvidia, and Alphabet) make up about 25% of the S&P 500. Six
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jay Powell, chair of the US Federal Reserve, has confirmed what the bond market had already surmised: the pace of US price inflation has peaked. US Treasuries and other global bonds have rallied over the
Stay informed with free updates Simply sign up to the UK interest rates myFT Digest — delivered directly to your inbox. The Bank of England kept rates steady at 5.25 per cent on Thursday as governor Andrew Bailey warned there was “still some way to go” before inflation hit its target. The BoE’s Monetary Policy
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a pollster, political consultant and author The reason Donald Trump is currently overperforming as an anti-system, anti-immigrant candidate is that Joe Biden hasn’t realised yet the rules of the next US presidential
This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per
This is part of a series, “Economists Exchange”, featuring conversations between top FT commentators and leading economists Back in the midst of the lockdown-induced slump, the British economist Charles Goodhart made a surprising prediction. With annual UK price growth running at less than 1 per cent, he warned that inflation was on its way back —
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US, the UK and France are exploring ways to convince Hizbollah to pull back from the Lebanon-Israel border in a diplomatic push to prevent a full-blown conflict erupting between the militant group and Israel.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The author is director of the Centre for European Reform The conventional wisdom in Brussels is that the EU is moving inexorably towards a major round of enlargement. Commission president Ursula von der Leyen makes
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is a professor emeritus at the Stern School of Business at New York University and a co-founder of Atlas Capital The launch of Bitcoin in 2009 was accompanied by strident claims that cryptocurrencies
There are roughly 325,000 married women in Japan with the family name Watanabe. The country has about the same number of Mrs Itos, significantly more Mrs Suzukis and almost twice as many Mrs Satos. But for some reason and for some decades, Mrs Watanabe has been the one chosen to stand as the symbolic byword
A view of clouds over Manhattan skyline in New York, United States on August 08, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images) Anadolu Agency | Anadolu Agency | Getty Images Manhattan rents fell for the first time in over two years, as the supply of empty apartments grew and renters held out for
US Treasuries staged a historic rally and stocks jumped as comments from Federal Reserve chair Jay Powell further spurred a rally that began after the central bank published a more dovish outlook than investors had anticipated. The yield on the policy-sensitive two-year note was down 0.25 percentage points in afternoon trading at a six-month low
Triple-A municipal bond yields fell a few basis points Wednesday following the Federal Reserve’s decision to hold rates and signal that only three rate cuts were likely in 2024, which sent U.S. Treasury yields plummeting down more than a quarter point on the short end while equities rallied and the Dow Jones Industrial Average closed
Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. The Federal Reserve on Wednesday held interest rates at a 22-year high, but most officials forecast that the US central bank would implement 75 basis points worth of cuts next year. The unanimous decision
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BP said it had dismissed Bernard Looney, its former chief executive, who would forfeit as much as £32.4mn in pay after committing “serious misconduct” related to failing to disclose past relationships with colleagues. Looney stepped
The Federal Reserve announced it will leave interest rates unchanged Wednesday, in a move that many believe will conclude the central bank’s rate hike cycle and set the stage for rate cuts in the year ahead. The Fed has raised interest rates 11 times since March 2022 — the fastest pace of tightening since the early 1980s. The