Oregon lawmakers were forced to approve $19 million in emergency funding last week to bolster its highway maintenance as winter approaches. Oregon Department of Transportation officials had begun implementing significant service reductions within maintenance and operations amid shortfalls caused by a decline in gas tax revenues, record high inflation and limitations on budgeted agency funds.
Recovering from last year’s brutal selloff, high-yield municipal bond funds this year have faced an improved but still rough performance amid large pockets of market volatility, as some, like Nuveen’s market-dominating fund, suffered more than others. While portfolio managers said they’re optimistic that shifting market dynamics will boost performance in 2024, the market swings this
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ukraine’s President Volodymyr Zelenskyy warned the US that any wavering it its support for Kyiv would bolster dictatorships around the world, as American funding for Ukraine’s defence against Russia is set to lapse by
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As Conservative MPs battled over Rishi Sunak’s Rwanda bill ahead of a vote on Tuesday, legal and other experts said the legislation was already the most drastic response to immigration in decades. Sunak’s efforts to
New Mexico Gov. Michelle Lujan Grisham unveiled a $500 million public-private sector plan last week to build a strategic water supply to advance clean energy production and storage and protect dwindling freshwater in her arid state. At the COP28 United Nations Climate Change Conference in Dubai, the Democratic governor said New Mexico would use the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A draft agreement from the UN’s COP28 climate summit has dropped references to the phase out of fossil fuels after opposition from oil and gas-producing countries led by Saudi Arabia. The document — which will
Ohio Treasurer Robert Sprague, Illinois Treasurer Michael Frerichs, Pennsylvania Treasurer Stacy Garrity, Oklahoma Treasurer Todd Russ and Palm Beach County Clerk and Comptroller Joseph Abruzzo have joined Israel Bonds’ new Government, Industry and Financial Services Leadership Board. “If Hamas stopped fighting today, there would be no more war. If Israel stops fighting, there will be
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Only three things seem certain today: death, taxes and rising carbon output. The second can, however, reduce the inevitability of the third. That theory backed the development of the EU’s emissions trading scheme (ETS). Though
The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting this week after recent signs the economy is in fairly good shape and as inflation continues to drift lower. “While there’s been talk about an imminent recession going back to early last year, the U.S. economy has
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak defended former prime minister Boris Johnson and his handling of the pandemic on Monday as the serving premier gave evidence to the official Covid-19 inquiry for the first time. Revelations from the inquiry
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel and Hamas are bitter enemies. But they also agree on some things. Neither the government of Israel nor Hamas has any real interest in a “two-state solution” to the Israel-Palestine conflict. And neither side
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nigel Farage on Monday dismissed speculation he would join Britain’s ruling Conservative party with Prime Minister Rishi Sunak in charge but the leading Brexit campaigner did not dismiss the possibility of returning to politics next
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government’s Rwanda bill provides only “a partial and incomplete solution” to legal challenges to its asylum seeker policy, lawyers representing right-wing Tory MPs have said, in a blow to Rishi Sunak. A so-called
Luxury properties in the Kensington and Chelsea district of London, UK, on Monday, Aug. 21, 2023. Jason Alden | Bloomberg | Getty Images The U.K. property market has been a rollercoaster for renters and prospective homeowners alike for over a year now. Rents soared throughout 2022 and 2023 as supply and demand imbalances led to
Stay informed with free updates Simply sign up to the Financial services myFT Digest — delivered directly to your inbox. When I started my career as a financial journalist in the new year of 1987, a few City gents still wore bowler hats. As I prepare to retire at the end of the year, neck
Stay informed with free updates Simply sign up to the Utilities myFT Digest — delivered directly to your inbox. One test in journalism is whether you can successfully explain the story you are writing to your mother. In business leadership, it is whether you stand a chance of explaining yourself to a parliamentary committee who
For more than 650 days in a row, Ukrainian president Volodymyr Zelenskyy has given at least one video address to the nation — praising his troops, celebrating advances along the front lines and reaffirming resolve in the face of Russian aggression. The message is always “we’re moving forward”, with the aim of maintaining optimism at
The Bank of England faces a particularly stubborn inflation problem that may stop it from cutting interest rates as sharply as peers next year, investors have warned, as the central bank prepares for its final policy meeting of 2023. The Monetary Policy Committee is widely expected to say on Thursday that it is keeping its
Stay informed with free updates Simply sign up to the Monetary policy myFT Digest — delivered directly to your inbox. Leading central banks are preparing to push back at investor predictions of how quickly interest rates will fall, as they meet for the final time this year amid strong employment numbers. Investors have been betting
Donald Trump said he will not appear in court on Monday to testify in the civil fraud trial brought by the New York attorney-general. “I have already testified to everything & have nothing more to say . . . I will not be testifying on Monday,” the former president on wrote on Sunday on social media in all
Former President Donald Trump wrote in a social media post on Sunday that he won’t testify in his $250 million civil fraud trial in New York on Monday. “I will not be testifying on Monday,” Trump wrote in an all-caps, multi-part post on Truth Social. Trump had previously been expected to return to the witness