A vacancy opened up on Tuesday for the world’s most thankless job: Republican Speaker of the US House of Representatives. Whoever takes the role of the presiding officer of America’s lower house should brace for accusations of betrayal by fellow Republicans and schadenfreude from opposition Democrats. Assuming they can stomach that, the new Speaker will
When Robert Sharpe met UK financial regulators at the Bank of England on Thursday morning, he was in familiar territory. In the four years since he had been installed as chair of Metro Bank — the high street lender once feted as the darling of Britain’s challenger banks — his diary had been filled with
Enjoy complimentary access to top ideas and insights — selected by our editors. Peter Hayes, one of the most well-known and influential people in the municipal bond industry, plans to relax and enjoy life with his family and friends after he retires early next year. “I’ll be 65 next year — and I didn’t think
The largest health-care strike in U.S. history hit Kaiser Permanente Wednesday, putting investors who buy and sell hospital bonds on edge as an industry that’s already experienced more than its share of distress struggles to stabilize financially. Kaiser has almost $4 billion in outstanding municipal-bond debt, according to Bloomberg data, including $1 billion in so-called
Solana (SOL) price experienced a 20% gain between Sept. 28 and Oct. 6, but is the rally a tandem move with Bitcoin (BTC) price or is it being driven by other factors. Prior to the price breakout, or perhaps, it’s recovery, SOL faced a turbulent period after a U.S. court approved the sale of $1.3
Stay informed with free updates Simply sign up to the Sam Bankman-Fried myFT Digest — delivered directly to your inbox. Sam Bankman-Fried’s trading firm Alameda Research secretly dipped into FTX customer funds just months after the crypto exchange — which collapsed with an $8bn hole in its balance sheet in November — was founded, the
Stay informed with free updates Simply sign up to the Metro Bank myFT Digest — delivered directly to your inbox. A group of Metro Bank bondholders contacted the UK lender’s board on Monday offering a £600mn capital injection, but the company has yet to accept the offer, according to two people familiar with the matter.
The muni market may be several years away from fully integrating artificial intelligence, but firms are taking small steps already. “AI is a big deal if you want to personalize your approach, differentiate your products,” James Pruskowski, chief investment officer of 16Rock Asset Management, said during MuniTech NYC, a conference hosted by Munichain and Spline
Stay informed with free updates Simply sign up to the Retail sector myFT Digest — delivered directly to your inbox. Just as Dame Sharon White is breaking up with the John Lewis Partnership, many of its once-loyal customers have already left the brand. The shortest-reigning chair in the partnership’s history announced this week she would
Our well-informed readers are likely aware that on October 2, WeWork withheld interest payments due on five senior secured notes totaling approximately $95 million. In an 8-K report, WeWork stated that it has a 30-day grace period to make the payments before an event of default, that it has the liquidity to make the interest
Bitcoin (BTC) saw a snap retest of $27,000 around the Oct. 6 Wall Street open as wildcard United States employment data rattled markets. BTC/USD 1-hour chart. Source: TradingView Analysis: Jobs data “not what Fed wanted to see” Data from Cointelegraph Markets Pro and TradingView followed BTC price action as the largest cryptocurrency lost 2.1% in
Stay informed with free updates Simply sign up to the The FT View myFT Digest — delivered directly to your inbox. Now that interest rates are at, or near, their peak, attention has turned to how long they will stay elevated. Central bankers, wary of being complacent on inflation, have united behind a mantra of
The rise of Ethereum staking since major network upgrades, Merge and Shanghai, has come at the cost of higher centralization and lower staking yields, a new report by JPMorgan said. JPMorgan’s analysts led by senior managing director Nikolaos Panigirtzoglou issued a new investor note on Oct. 5, warning about the risks stemming from Ethereum’s growing
Stay informed with free updates Simply sign up to the Lex myFT Digest — delivered directly to your inbox. Metro Bank’s first London branch opened with an unlikely combination of polished marble, chrome and free lollipops in 2010. Investors have since been left with a sour taste for its shares, down 98 per cent since
Stay informed with free updates Simply sign up to the US employment myFT Digest — delivered directly to your inbox. The US added 336,000 new jobs in September, far more than expected, pushing bond yields to a new 16-year high and fuelling investors’ anxieties that interest rates will stay higher for longer. The Bureau of
Our weekly roundup of news from East Asia curates the industry’s most important developments. 3AC creditors strike back On Sept. 29, Su Zhu, co-founder of defunct Singaporean hedge fund Three Arrows Capital (3AC) — which prior to its collapse last June managed more than $10 billion in digital assets — was apprehended at Singapore’s Changi
Komainu, a cryptocurrency custody firm co-created by crypto investment firm CoinShares, hardware wallet company Ledger and Japanese Nomura, has secured major regulatory approval in the United Kingdom. The company announced on Oct. 6 that it has received approval from the U.K. Financial Conduct Authority (FCA) to register as a custodian wallet provider under the Money
In this article APLS RMD PXD LEVI PHIA-NL PHG TSLA AEHR XOM Follow your favorite stocksCREATE FREE ACCOUNT Justin Sullivan | Getty Images Check out the companies making the biggest moves in premarket trading: Pioneer Natural Resources — The energy stock soared nearly 10% in premarket trading after The Wall Street Journal reported Pioneer was
A year after it was launched, the U.S. Conference of Mayor’s public-private partnership task force held its inaugural roundtable conference this week in Atlanta. “Our first public-private partnerships council meeting laid the groundwork for our objectives in the years to come,” said Atlanta Mayor Andre Dickens, who was tapped last year to head up the council.
Stay informed with free updates Simply sign up to the Financial fraud myFT Digest — delivered directly to your inbox. For Peter Pan, the boy who lived in a “world made of faith and trust and pixie dust” in JM Barrie’s novel, “make-believe and true were exactly the same thing”. That made him the ideal
Britain has never had a female chancellor of the exchequer, but that will change next year if the Labour party wins the next general election. In this scenario, it would be Rachel Reeves walking through the doors of the Treasury and taking charge of all fiscal and economic decisions for an incoming government. For now,