Dado Ruvic | Reuters The Bitcoin network on Friday night slashed the incentives rewarded to miners in half for the fourth time in its history. The celebrated event, which takes place about once every four years as mandated in the Bitcoin code, is designed to slow the issuance of bitcoins, thereby creating a scarcity effect
The Inflation Reduction Act has paved the way for broader participation in affordable housing and a renewed focus by developers on sustainability, panelists at Baker Tilly’s 2024 DevelUP conference said this week. One panelist called the 2022 law “the largest opportunity to build foundational generational wealth that you will experience,” and others praised the tax
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK inflation could hold around the Bank of England’s 2 per cent target for the next three years, according to an interest rate-setter, making the country “less of an outlier and more of a laggard”
A contentious rule proposal has a host of broker-dealer and investment firms calling for a rewrite as the effects on the municipal bond market portend calamity. “Overall, we recommend that the rules in general be reconsidered and ideally rewritten,” said Susan Joyce, head of muni trading & FI market structure, AllianceBernstein. “We definitely see a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy National security experts and financial market traders seem to disagree on what will follow the recent escalation of tensions between
Homes in Rocklin, California, on Tuesday, Dec. 6, 2022. David Paul Morris | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going. It now sits right around 7.5%, the highest level since mid-November of last
When it comes to issuing municipal bonds in Louisiana, state Treasurer John Fleming like things just the way they are. Fleming is pushing back against a proposal in the state Legislature that would make changes to the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran has activated air defence systems across several provinces, according to official news agency IRNA, after reports that an explosion was heard near the city of Isfahan. Tasnim news agency, which is close to Iran’s
On Tuesday, global law firm Nixon Peabody LLP released the names of newly minted partners and counsels who have arrived at the next level in their public finance career. According to the firm, “Nearly 80% of the new partners are members of historically underrepresented groups at the partnership level in the legal profession, which aligns
Stay informed with free updates Simply sign up to the Cyber Security myFT Digest — delivered directly to your inbox. A few weeks ago, a friend was about to have life-saving brain surgery in Boston when her operation was suddenly cancelled. The reason? A unit of UnitedHealth, the gigantic American conglomerate, suffered a ransomware attack,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost even as western countries discuss stepping up sanctions in response to its attack on Israel.
Norton Rose Fulbright has hired public-private partnership and infrastructure attorney Patrick Harder to co-head the firm’s U.S. and North America infrastructure groups. Harder joins Norton Rose after 20 years at Nossaman LLP, where he was a leader in the U.S. P3 space and was partner and chair of the infrastructure group. He will co-chair Norton’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has been warned by the IMF to take much tougher action to rein in the UK’s public debt, putting a question mark over the prime minister’s cuts to national insurance. The IMF on
A small Kansas city took the initial step last week that could lead to the issuance of sales tax and revenue (STAR) bonds for a development featuring a Mattel toy-themed amusement park. The proposal came before the Bonner Springs City Council in the wake of the first-ever default on STAR bonds in the state and
Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. UK inflation slowed less than expected in March, fuelling the debate over how soon the Bank of England will start cutting interest rates. Consumer prices rose at an annual rate of 3.2 per cent, down
President Joe Biden signaled tentative federal support for a long-struggling high-speed train between Dallas and Houston using Japanese technology during a meeting last week with Japanese Prime Minister Fumio Kishida. Opponents of the controversial proposal, meanwhile, have urged the Department of Justice to investigate the project’s owner, Texas Central Partners LLC, for violations of the
Stay informed with free updates Simply sign up to the Sovereign bonds myFT Digest — delivered directly to your inbox. Ukraine’s international bondholders have formed a creditor committee ahead of a $20bn debt restructuring that Kyiv is aiming to negotiate by September, amid uncertainty over the arrival of funding to help in its war with
Florida is coming to market early this week with a $1.5 billion taxable bond sale to bulk up the state’s Hurricane Catastrophe Fund. The State Board of Administration Finance Corp. is planning to issue $1.5 billion of taxable revenue bonds in two maturities. “We convened with the underwriting group today and signed off on what
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Oil and Asian equity markets were muted on Monday following Iran’s military strike on Israel as traders shrugged off fears the conflict could escalate into a full-blown war and curb supplies from the region. Brent
A growing number of health-conscious consumers rejecting beer, wine and spirits represents “a big opportunity”, said the chief executive of Japan’s biggest brewer Asahi, who forecast zero- and low-alcohol drinks would generate half of the company’s beverage sales by as early as 2040. Atsushi Katsuki, whose group produces beers including Asahi Super Dry, Peroni Nastro
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