In this article UBSG-CH Follow your favorite stocksCREATE FREE ACCOUNT Despite indicators like U.S. credit card debt pointing toward financial and economic pressures, another global financial crash is not imminent, UBS chief U.S. economist Jonathan Pingle believes. U.S. credit card debt soared to $1.08 trillion in the third quarter of 2023, data from the Federal
Megan Kilgore, auditor for the city of Columbus, Ohio, and Virginia Wong, partner and practice group leader of Project Finance and Public Finance at Nixon Peabody, are the 2023 public and private sector Freda Johnson Award winners. The awards, given by the Northeast Women in Public Finance, are named for Johnson, a founding board member
The Bond Buyer announced the recipients of its annual Deal of the Year awards, marking the 22nd year it has recognized outstanding achievement in municipal finance. Winners have been named in 10 categories: one in each of The Bond Buyer’s five regional areas of coverage, along with five in additional categories. All award winners will
Potential homebuyers attend an open house in Seattle. Mike Kane | Bloomberg | Getty Images Current homeowners and potential homebuyers are responding to lower mortgage rates, albeit slowly. Mortgage demand rose 2.8% last week, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. That was the second straight week of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. St James’s Place has defended its pay strategy after shareholders expressed their disquiet at the “windfall gains” due to executives through a share plan. More than a fifth of shareholders voted against the remuneration report
As they patch up their bond trading operations following the hack of Industrial and Commercial Bank of China, brokers are also piecing together how China’s largest lender became such a significant player in US Treasuries that the attack on its systems could disrupt the $26tn market. The impact of the attack was still being felt
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK Supreme Court has unanimously ruled that the government’s policy of deporting asylum seekers to Rwanda is unlawful, in a major blow to Rishi Sunak’s government. Lord Robert Reed, president of the Supreme Court,
Justin Sun’s cryptocurrency exchange Poloniex is preparing to resume operations after suffering a major hack in November, according to an official company announcement posted on Nov. 15. In the statement, the company said that the platform has “mostly completed” the restoration efforts after the $100 million hack. “The platform is now operating smoothly,” Poloniex said in its
Bitcoin (BTC) tested $35,000 support into the Nov. 14 daily close as sell-side pressure sparked multiday lows. BTC/USD 1-hour chart. Source: TradingView BTC price sheds $1,000 in an hour Data from Cointelegraph Markets Pro and TradingView tracked a swift retreat for BTC price action, which fell over $1,000 in a single hourly candle. The largest
While the crypto community is still weathering the effects of the recent $100 million Poloniex hack, another cybersecurity threat that could affect billions worth of crypto assets has been discovered by a team of blockchain security experts. On Nov. 14, cybersecurity company Unciphered released information on a vulnerability that it called “Randstorm,” which it claims
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK inflation slowed sharply to an annual rate of 4.6 per cent in October, driven by a fall in the energy price cap, meaning prime minister Rishi Sunak has met his pledge to halve inflation by year
A construction site of residential buildings on the Elbe dike near downtown Wittenberg. Soeren Stache | Picture Alliance | Getty Images Germany’s Olaf Scholz once set the goal of building 400,000 new homes a year, even before he become chancellor. Fast forward two years, and German housebuilding looks like it’s collapsing, putting pressure on both
Plunder: Private Equity’s Plan to Pillage America by Brendan Ballou (PublicAffairs) There have always been two ways to make money: value creation and plunder. A good society is one in which the first outweighs the latter. In this powerfully argued book, Ballou, currently at the antitrust division of the US Department of Justice, insists that
Stay informed with free updates Simply sign up to the UK banks myFT Digest — delivered directly to your inbox. The idea of green mortgages was one of the most visible parts of the notion that finance and banking could be the lever that forces the UK economy on to the path to net zero.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The head trader at Elliott Management in London has left the firm, said people with direct knowledge of the move, the latest departure of a long-serving member from the $59bn US hedge fund’s main European
After decades at the helm of Fox and News Corp as chair of their boards, Rupert Murdoch will this week cede direct control of his media empire to his son Lachlan — passing along not only one of the most polarising brands in US news, but also potentially costly legal baggage. The handover comes after
Indonesia’s President Joko Widodo is a man in a hurry. Accompanied by a vast retinue of cabinet ministers, his chef, and 100 chief executives he has travelled to the heart of Borneo’s rainforest to oversee his audacious plan to build a new capital there. In 38-degree heat, Jokowi, as he is widely known, throws himself
Plasma, a once-prominent Ethereum layer 2 scaling solution, should be revisited by teams currently working on zero-knowledge Ethereum Virtual Machines (EVMs), says Ethereum co-founder Vitalik Buterin. Invented in 2017, Plasma diverts data and computation — except deposits, withdrawals and Merkle roots — to an off-chain environment. It was superseded by optimistic and zero-knowledge (ZK)-rollups as
The Nov. 13 XRP (XRP) price action stemming from a falsified BlackRock XRP trust filing shouldn’t sway the United States securities regulator’s decision to approve or delay spot Bitcoin (BTC) exchange-traded funds (ETFs) — but it isn’t a good look, say industry observers. The Securities and Exchange Commission has previously claimed the Bitcoin market can
Stay informed with free updates Simply sign up to the Hedge funds myFT Digest — delivered directly to your inbox. Millennium Management, the $60bn hedge fund led by Izzy Englander, and Schonfeld Strategic Advisors have terminated talks to form a partnership, according to people familiar with the situation. The two multi-strategy fund managers had been
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israeli forces entered al-Shifa hospital in Gaza on Wednesday to conduct what the military described as a “precise and targeted operation” against Hamas. The move by Israeli troops comes days after they surrounded the besieged