An empty parking lot is pictured in front of a Planet Fitness gym and fitness club in Alhambra, California, on May 12, 2020, after stay-at-home orders in Los Angeles County were extended until July amid the Covid-19 pandemic. Frederic J. Brown | AFP | Getty Images Check out the companies making headlines in midday trading.
Crispin Odey urged a woman he groped at the headquarters of his hedge fund to downplay the incident to the financial watchdog while it considered whether he should retain his regulatory approval as a “fit and proper person”. The woman, who is the 20th to come forward to the Financial Times with claims of sexual
Moody’s Investors Service revised the outlook on the New York Metropolitan Transportation Authority to positive from stable “based on the significant increase in state tax support that will offset the post-COVID ridership losses and structurally balance projected budget gaps.” The positive outlook “reflects the significant improvement in MTA’s financial forecast due to the state-authorized increase
Municipals were weaker Tuesday as triple-A yields rose in sympathy with U.S. Treasuries. Equities ended the session down ahead of the close of the Federal Open Markets Committee meeting Wednesday. Triple-A yields were cut two to seven basis points, depending on the scale, while UST yields rose four to six basis points, pushing the two-,
Receive free UK politics updates We’ll send you a myFT Daily Digest email rounding up the latest UK politics news every morning. Rishi Sunak was on Tuesday accused of presiding over a “slow motion car crash” as the prime minister prepared to delay crucial measures intended to turn the UK into a net zero carbon
On this week’s episode of The Market Report, analyst Marcel Pechman discusses Bitcoin’s (BTC) strength ahead of the United States Federal Reserve’s Federal Open Market Committee (FOMC) meeting, with investors betting on an interest rate freeze. Pechman expresses skepticism about the claim that recent inflation data indicated the Federal Reserve’s 2% target was within reach, citing
The Federal Emergency Management Agency’s Disaster Relief Fund is running dry as Congress squabbles over appropriations, opening the possibility that the federal government’s ability to respond to national disasters will be compromised and the burden will shift to state and local budgets. To avoid that scenario the agency is currently tapping its Immediate Needs Funding
Jena Watson, formerly of HomeStreet Bank, has joined ArentFox Schiff as a partner. Watson, who is based in the San Francisco office, will work in the firm’s Real Estate and Municipal Bond practices. She has nearly 30 years of experience managing project and municipal finance and commercial real estate transactions, including 10 years in senior
Receive free War in Ukraine updates We’ll send you a myFT Daily Digest email rounding up the latest War in Ukraine news every morning. US president Joe Biden called on world leaders to oppose early peace talks that would lead to the break-up of Ukraine, arguing that standing firm against Russia’s goal of winning a
California’s revenues for August came in $1.3 billion above projections putting the state $75 million above the $21.9 billion expected for the first two months of the fiscal year, according to the Department of Finance. The revenues of $1.3 billion were 11.1% above the forecast of $12.16 billion, as receipts from nearly all revenue sources
Receive free Cboe Global Markets updates We’ll send you a myFT Daily Digest email rounding up the latest Cboe Global Markets news every morning. The chief executive of Cboe Global Markets has resigned after failing to disclose personal relationships with colleagues. Edward Tilly, who has been at Cboe for 35 years, “did not disclose personal
Receive free EU-China relations updates We’ll send you a myFT Daily Digest email rounding up the latest EU-China relations news every morning. China should do more to stimulate domestic consumption, European businesses have declared, saying huge investment in electric vehicle capacity has caused “understandable” concern in the EU. The EU last week announced an anti-subsidy
USD Coin (USDC), the second-largest stablecoin by market capitalization after Tether (USDT), continues expanding across different blockchain networks, now being launched on Polkadot. USDC issuer Circle has officially launched USD Coin on the Polkadot network, the firm announced on Sept. 19. According to the Circle’s website, Polkadot USDC is immediately available for developers and users
Receive free FTX Trading Ltd updates We’ll send you a myFT Daily Digest email rounding up the latest FTX Trading Ltd news every morning. FTX has sued the parents of Sam Bankman-Fried, claiming they enriched themselves by siphoning off millions of dollars from the cryptocurrency exchange their son founded. In a court filing late on
Japan’s largest investment bank, Nomura’s digital asset subsidiary Laser Digital Asset Management, has launched a Bitcoin Adoption Fund for institutional investors. The official announcement noted that the Bitcoin (BTC)-based fund will be the first in a range of digital adoption investment solutions that the firm plans to introduce. Nomura is a Japanese financial giant with
The interim judicial managers of the collapsed cryptocurrency lender Hodlnaut have reportedly rejected the latest buyout deal amid the settlement token plummeting 90%. Hodlnaut administrators have opposed the takeover terms from cryptocurrency exchange OPNX, which was established by Kyle Davies and Su Zhu, the co-founders of failed hedge fund Three Arrows Capital (3AC). In a
Bitcoin’s (BTC) open interest on derivatives exchanges experienced a sudden surge of $1 billion on Sep. 18, prompting investors to question whether whales were accumulating in anticipation of the unsealing of Binance’s court filings. However, a closer look at derivatives metrics suggests a more nuanced picture, as the funding rate did not exhibit clear signs
AI and crypto isn’t just a buzz phrase AI Eye has been out and about at Korean Blockchain Week and Token2049 in Singapore over the past fortnight, trying to find out how crypto project leaders plan to use AI. Probably the most well-known is Maker founder Rune Christensen, who essentially plans to relaunch his decade-old
Our weekly roundup of news from East Asia curates the industry’s most important developments. Token 2049, one of the largest crypto conferences of the year, attracted a record 10,000 attendees, 300 speakers and 5,000 companies during the two-day event in Singapore. From Sept. 13–14, attendees entering the majestic Marina Bay Sands Convention Expo and Center
An Iowa state law adopted this year means local governments and school districts will face a new hurdle in issuing municipal bonds. House File 718, which Gov. Kim Reynolds signed into law in May, decreased the options for municipalities and school districts to hold bond elections. Until now, cities and school districts in Iowa had
JLL released its Construction Trends and Mid-Year Outlook several days ago, updating its 2023 Construction Outlook published in March. The new report, with its updated set of projections, highlights several hurdles the industry faces during a time of enormous economic uncertainty. Specifically, the report examines general construction industry health, along with the state of the