States would suffer deep cuts in water infrastructure funding they receive through state revolving funds, which make up a significant corner of the municipal bond market, under a bill passed Friday by the U.S. House of Representatives. The fiscal 2024 Department of the Interior, Environment, and Related Agencies appropriations measure, House Bill 4821, totals $37.4
Washington is banking on its high credit ratings and strong demand on previous sales as it heads to market Tuesday with a $483 million competitive refunding. The bonds will be auctioned in two series: $296.550 million various purpose general obligation refunding bonds, Series R-2024A and $186.225 million motor vehicle fuel tax and vehicle-related fees GO
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The influential leader of the Iran-backed Lebanese paramilitary group Hizbollah warned Israel that his group would consider “all possibilities” in its ongoing hostilities along Lebanon’s border, but stopped short of declaring an all-out war. The
More tradition than coincidence, the Christmas season is around the corner again and the market is looking good for yet another run. Bitcoin (BTC) surged to more than $35,000 in October, another record high for 2023. The year-long rally has been attributed to unconventional market trends, including excitement over the Bitcoin spot ETF applications pending
Bitcoin (BTC) futures open interest at the Chicago Mercantile Exchange (CME) hit an all-time high of $3.65 billion on November 1. This metric considers the value of every contract in play for the remaining calendar months, where buyers (longs) and sellers (shorts) are continually matched. Bullish momentum on CME Bitcoin futures, but cautious BTC options
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s Covid inquiry is confirming what we already knew: that the pandemic hit Britain when Downing Street was inhabited by a peculiarly nasty bunch of arrogant, foul-mouthed characters who could have auditioned for parts
While municipal bond issuance has dropped precipitously the past two years amid volatile markets, environmental, social and governance debt has steadily grown despite issuer hesitation to designate it as such and an ever-more acrimonious political environment emerges over it. ESG issuance for the first three quarters of 2023 was at $27.970 billion, potentially on pace
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Russia launched dozens of aerial attacks at targets across Ukraine, including usually safer parts of the country, amid growing concerns in Kyiv that the west’s attention has shifted away from the conflict and its
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sam Bankman-Fried spent many of the breaks during his trial in New York sitting alone at the defence table flanked by two hulking federal marshals. But on the day he was due to testify, he
2023 was anticipated to be the comeback year for Bitcoin. Experts predicted that the King of Crypto would soar to $50,000 or more, but it has only bounced back to about $26,000 since the bear market started in late 2021. Cointelegraph Markets Pro, despite the bearish trends ruling the space, has sent investors more than
Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. The world’s largest asset manager sees benchmark US borrowing costs hovering around 5.5 per cent for the next five years as investors grapple with inflationary pressures. Ten-year yields are at 4.5 per cent, but
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jobs growth in the US slowed sharply in October, according to a fresh labour market report that is likely to shape interest rate expectations for the world’s biggest economy. US employers added 150,000 new roles
The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of the Artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in. Creditors stake their claims to try to recoup some of their investment
Stay informed with free updates Simply sign up to the Eurozone economy myFT Digest — delivered directly to your inbox. Unemployment in the eurozone has increased from its record low, rising unexpectedly to 6.5 per cent as high interest rates and a stagnating economy start to take their toll on the region’s job market. Eurostat,
Stay informed with free updates Simply sign up to the Chinese politics & policy myFT Digest — delivered directly to your inbox. Beijing has told Communist party cadres to stay away from private equity as President Xi Jinping’s anti-corruption drive intensifies. Officials have been banned from pouring their savings into domestic Chinese private equity funds,
Few people decide in their mid-fifties that they want to become an accountant. The hundreds of hours of study required would be daunting for anyone, let alone someone whose day job is running a $23bn-revenue global consulting business. Yet last year, Mohamed Kande sat the US CPA exam and passed. That earned him a professional
Capri in the 1950s was a hot spot for glitterati in search of la dolce vita. The small island off Italy’s Amalfi Coast drew jet-setters, royals and Hollywood stars with its turquoise waters, steep sea cliffs and exclusivity. Considered one of the world’s first resorts―Emperor Augustus made the isle his private retreat in 29 B.C.―the
Jack Dorsey-led Block, a Bitcoin-focused fintech company, published its third-quarter earnings report on Nov. 2, revealing a profitable quarter and surpassing analyst expectations. The firm had $5.62 billion in revenue in the third quarter of 2023, boosted by solid revenue growth in Cash App and Square, with $44 million in profit on its Bitcoin (BTC)
Bitcoin (BTC) continues to circle its highest levels in 18 months and bullish BTC price predictions are flowing in — how high can the bull market go and how fast? From a crash to $20,000 to six figures within months, there is plenty of variety when it comes to what Bitcoin might do next, with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel said its forces had surrounded Gaza City as US secretary of state Antony Blinken arrived in Israel to push for a “pause” in hostilities to allow aid into Gaza and help free hostages held
The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims. A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do Kwon and his involvement in facilitating the frauds that eventually