The S&P 500 stock index has touched the milestone of 5,000 for the first time, setting a fresh record high as a narrow group of companies continued to drive the benchmark upwards. The basket of blue-chip US stocks rose as high as 5,000.4 on Thursday, seconds before closing the session 0.1 per cent higher at
Gilt-edged Washington Suburban Sanitary District, Maryland, is offering $329 million of revenue bonds via a competitive sale Thursday that may help set the tone for triple-A yield curves that have been contending with U.S. Treasury market volatility in recent sessions. The consolidated public improvement debt is being issued under the supervision of the Washington Suburban Sanitary
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Equity purchases by Chinese banks and brokers’ international arms have helped push net flows to the country’s stock market in to positive territory for the first time this year, a shift that helps Beijing in
An active primary market was the focus Wednesday with the New York City TFA pricing for institutions with small changes to yields from its Tuesday retail offering, Massachusetts upsizing its GO refunding deal and Wisconsin selling green bonds in the competitive market. Triple-A muni yield curves were mostly little changed to a basis point of
Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. A US drone strike in Iraq killed the commander of a powerful Iranian-backed militia, the latest retaliatory move by American forces following an attack on a base that killed three US soldiers last month.
Municipal bonds are part of an Illinois city’s plan to help the local casino build a bigger venue at a new location. In its current form, Aurora’s Hollywood Casino occupies a barge tethered near downtown on the Fox River. The city wants to build a brand new casino resort about five miles away, near an
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Uber is courting one of its oldest foes, the London black-cab driver, as it looks to add a new taxi option to its fleet in the UK capital next year. San Francisco-based Uber has begun
Hawaii’s first-of-its-kind per-mile fee for vehicles marks the latest and most extensive effort yet among states seeking to offset the fading fuel tax. Signed into law by Gov. Josh Green last July, the law requires EVs to pay a per-mile charge or an annual fee by 2025 and will require all vehicles to pay a
Stay informed with free updates Simply sign up to the Equities myFT Digest — delivered directly to your inbox. It was a dire January for Chinese stocks. After falling almost 10 per cent, Hong Kong’s Hang Seng stock index now trades around the same levels it did in 1997, when Tencent and Alibaba, two of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In Reddit’s r/stocks forum, the social media network’s own users take a dim view of the company’s upcoming initial public offering. “RIP Reddit, it all goes downhill from here”, is the general view. Users expect
Pennsylvania Gov. Josh Shapiro announced a new economic development plan that he says will guide the priorities when he releases his budget this week. The 10-year program is Pennsylvania’s first economic development plan in nearly two decades and targets areas including site readiness, workforce development and housing and community development. “For too long, Pennsylvania’s neighboring
This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Federal Reserve’s rate-setters still expect to make around three quarter-point rate cuts this year, its chair Jay Powell said in an interview that aired on Sunday. Powell told CBS’s 60 Minutes show that “almost
Iran used two of the UK’s biggest banks to covertly move money around the world as part of a vast sanctions-evasion scheme backed by Tehran’s intelligence services. Lloyds and Santander UK provided accounts to British front companies secretly owned by a sanctioned Iranian petrochemicals company based near Buckingham Palace, according to documents seen by the
Stay informed with free updates Simply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox. Top oil industry executives have hit out at US President Joe Biden’s decision to pause approvals for new liquefied natural gas export terminals, with Shell’s CEO warning it will “erode confidence” in an
In this article NYCB Follow your favorite stocksCREATE FREE ACCOUNT The Aozora Bank Ltd. headquarters in Tokyo Japan, on Thursday, Feb. 1, 2024. Japan’s Aozora Bank became the second lender in a span of hours to surprise investors with losses tied to US commercial property, sending shares down by the limit and heightening concern over
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Turkey has increased interest rates to 45 per cent as policymakers signalled that a eight-month campaign of big rises in borrowing costs was over, with the country’s prolonged inflation crisis expected to ease this year.
Pictured here is a real estate project under construction in Huai’an, China, on Jan. 21, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country’s overall growth. That’s according
The Biden administration will not be appealing to the Supreme Court an Eleventh Circuit ruling in favor of states, who’ve challenged the American Rescue Plan Offset Provision that bars states from using federal aid dollars to fund tax cuts, in what may be an end to those state challenges. That decision was communicated in a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Turkey’s central bank governor Hafize Gaye Erkan has resigned just months after the country embarked on a major overhaul of economic policy that has featured huge rises in interest rates. Erkan, who was appointed in June
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