Two New York budget watchdogs testified before the City Council’s Finance Committee on Monday listing the good, the bad and the worrisome about the current state of the Big Apple’s finances. The Independent Budget Office predicts the city will end fiscal 2024 with a $3.6 billion surplus above the Mayor’s Office of Management and Budget
Stakeholders in the transit systems serving Chicago and its wider metropolitan area have delivered a plan to deal with financial shortfalls driven by the COVID-19 pandemic and the “fiscal cliff” coming when the last federal relief funding is spent. All they need now is the money to pay for it. The Plan of Action for
Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription:Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Keeley Webster (00:04):Hello, I am Keeley Webster. Welcome to another Bond Buyer podcast. The Governors of
Stay informed with free updates Simply sign up to the Middle Eastern politics & society myFT Digest — delivered directly to your inbox. Yemen’s Houthis have attacked a Norwegian tanker in the strategically important Bab-el-Mandeb strait, in the latest sign that the Iran-backed group is extending its targeting of ships in the critical trade route.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Harvard’s board has given Claudine Gay its full backing to remain as the university’s president after her Congressional testimony on campus antisemitism stirred furious backlash and a movement to oust her. The board announced its
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation edged lower to 3.1 per cent for November, bolstering arguments by Federal Reserve officials that interest rates should remain at current levels during the spring. The headline consumer price index figure fell marginally
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. The Federal Reserve should be required to stress test US banks’ ability to “withstand a potential sudden loss of market access to China”, according to a congressional committee. The proposed legislative change was among dozens
This week’s Federal Open Market Committee meeting will be of interest to market participants despite the unlikelihood of any changes in monetary policy, since a new Summary of Economic Projections will be released and will provide insight into officials’ thinking on fed fund target levels for next year. The market is pricing in about five
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. An asylum seeker has died on board the Bibby Stockholm barge that is accommodating more than 250 men as part of the UK’s plan to toughen conditions for migrants and cut the cost of housing
This article is an on-site version of our Chris Giles on Central Banks newsletter. Sign up here to get the newsletter sent straight to your inbox every Tuesday Three leading central banks meet this week to set interest rates with the Federal Reserve due to give its verdict on Wednesday, followed swiftly by the European
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak supported Brexit before Boris Johnson did. He argued for looser lockdowns during the Covid-19 pandemic. He put a great office of state in the hands of as strident a conservative as Suella Braverman.
The East China headquarters of Country Garden is being shown in Zhenjiang, Jiangsu Province, China, on October 10, 2023. Nurphoto | Nurphoto | Getty Images Embattled Chinese real estate developer Country Garden may avoid a default on its yuan-denominated bonds after most holders of a local note agreed not to demand repayment this week, according to Bloomberg
Stay informed with free updates Simply sign up to the UK employment myFT Digest — delivered directly to your inbox. UK wage growth eased in the three months to October as a decline in vacancies became the longest on record, adding to evidence that the labour market is softening. Average pay grew by 7.3 per
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has mounted a last-minute operation to save his Rwanda migration bill as Conservative rebels demanded he pull the legislation before a House of Commons vote on Tuesday evening. Sunak held breakfast talks in
In this article BLK Follow your favorite stocksCREATE FREE ACCOUNT Wind turbine blades rotate in the tidal flat in Yancheng city, Jiangsu province, China, November 18, 2023. Nurphoto | Nurphoto | Getty Images Top global asset managers including BlackRock are among investors in an Asia-focused infrastructure private equity fund that raised $800 million, underscoring growing
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is director of the Center-Left Renewal project at the Progressive Policy Institute and former Labour executive director of policy 2020-22 As the Labour party looks increasingly likely to form the next UK government,
In 1989, Michael Lewis chronicled the excesses of Wall Street in his seminal book Liar’s Poker, named for a game of chance on which traders gambled thousands of dollars. But the sums wagered by Lewis’s colleagues pale in comparison to those deployed within the world’s most profitable law firm. Partners at Kirkland & Ellis have
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. German insurers including Munich Re and Allianz have amassed more than €3bn of exposure to the struggling property empire owned by real estate billionaire René Benko. The network of firms in Benko’s Signa group not
Michael Milken attends Prostate Cancer Foundation’s Dinner At Daniel on November 19, 2019 at Daniel in New York City. Paul Bruinooge | Patrick McMullan | Getty Images Famed investor Michael Milken expects the Federal Reserve will move slowly on monetary policy — if history is any guide. In fact, the Milken Institute founder expects the
India’s appeal to the likes of Apple as a “China plus one” manufacturing hub may depend on how the country and foreign investors resolve one glaring issue: how and where to get enough workers in the right place. In China, hundreds of millions of migrant workers played a crucial role in the country’s rise as
12/12/2023, 1:56:59 AM Google loses antitrust lawsuit against Epic over its app store Michael Acton in San Francisco A federal jury on Monday found against Google in a lawsuit brought by Epic, the company behind popular video game Fortnite, which accused the search giant of suppressing competition in the Android app market to secure billions