Municipals saw losses Thursday following U.S. Treasuries to higher yields, while equities sold off after GDP growth slowed in the first quarter. While growth slowed, inflation was hotter, said ING Chief International Economist James Knightley, as the core PCE deflator rose 3.7% on an annualized basis, three-tenths of a point higher than expected. “Unsurprisingly Treasury yields
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Stay informed with free updates Simply sign up to the Electric vehicles myFT Digest — delivered directly to your inbox. China’s control over a crucial battery material will make it nearly impossible for any electric-vehicle makers to qualify for the subsidy scheme at the heart of President Joe Biden’s flagship green tech legislation, South Korea
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Sequoia Capital, Silicon Valley’s best-known venture capital firm, has committed to investing in Elon Musk’s artificial intelligence start-up xAI, boosting the Tesla chief’s efforts to raise billions and take on OpenAI, Meta and Google. Musk
Shares of Los Angeles-based social media platform Snap jumped more than 30 per cent after its earnings beat analysts’ expectations as increasing demand for its advertising services boosted sales. The company’s revenue of $1.2bn in the first three months of 2024 was 21 per cent above the same period a year earlier. Net losses narrowed,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. I’m not about to argue that economists are useless. Nor will I argue that they should all be obviously useful. If some want to do research that might seem like “mathturbation” but that is actually
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Is immigration good for a country, or bad? This question always strikes me as unhelpful. It depends on the country. Even if we couch the question strictly in economic terms, things vary. Immigration adds millions
When UK ministers invited a fresh round of applications to the £4.8bn Levelling Up Fund for economically struggling areas in 2022, Durham county council was optimistic. Whitehall officials had praised a previous application from the north-east authority, which includes some of the UK’s poorest former mining communities, as an exemplar of “what a bid should
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Meta’s revenues jumped by more than a quarter in the first three months of the year, beating expectations, but its forecasts left Wall Street underwhelmed and the shares fell 10 per cent in after-hours trading
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Microsoft beat expectations for revenue and cloud sales on Thursday in an earnings report that cheered investors who have been looking for signs of a pay-off from its investment in artificial intelligence. Revenue climbed 17
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Alphabet’s revenue jumped 15 per cent in the first quarter of 2024 and it announced it would pay its first dividend of 20 cents a share, buoyed by a rise in earnings across its main
Ryan Hallam, who spent nearly three decades at Citi, has been hired as a managing director and co-head of high-yield trading on Piper Sandler’s fixed-income team. Hallam will handle high-yield muni sales and trading, focusing on large institutional accounts. “As we look to grow our market share in the municipal industry, Ryan’s tremendous experience and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The EU has launched probes into Apple, Alphabet and Meta, in the first use of a landmark new law designed to rein in Big Tech’s market power. The European Commission, the bloc’s executive arm, announced
In this article BAC ENB-CA PEP ENB BAC Follow your favorite stocksCREATE FREE ACCOUNT Bottles of Pepsi soda are seen on display at a Target store on February 09, 2024 in the Flatbush neighborhood of Brooklyn borough New York City. Michael M. Santiago | Getty Images Even as the major averages have recently hit fresh
Kristalina Georgieva, Director of the International Monetary Fund (IMF), speaks during the China Development Forum 2024 at the Diaoyutai State Guesthouse on March 24, 2024 in Beijing, China. China News Service | China News Service | Getty Images China has two choices right now: return to its old economic policies, or choose reforms to spur
While a move to raise New York City’s borrowing capacity by $12 billion is reasonable and sufficient for the city to meet future capital needs, the debt service threshold must be kept within safe limits, officials say. Letting New York City sell more bonds will allow it to meet its capital needs over the next
The US and Japan are planning the biggest upgrade to their security alliance since they signed a mutual defence treaty in 1960 in a move to counter China. President Joe Biden and Prime Minister Fumio Kishida will announce plans to restructure the US military command in Japan to strengthen operational planning and exercises between the
New York City is stepping up to the plate on Tuesday with the second biggest bond sale of the week, a $1.45 billion issue of general obligation bonds. Set to be priced by Jefferies on Monday for retail investors and on Tuesday for institutions, the tax-exempt GO deal is tentatively structured in four series with
Friday’s bloody attack on a Moscow concert hall has been claimed by the terror group Isis, but Russian propagandists have sought to blame Ukraine. Responsibility for the assault, in which four gunmen killed at least 133 people and incinerated the building, was attributed by the US and other western countries specifically to an Afghan-based affiliate
In this article GNC-GB Follow your favorite stocksCREATE FREE ACCOUNT The Greencore logo is seen on the outside of its factory building in Bristol, England. Matt Cardy | Getty Images Company: Greencore Group (GNC-GB) Business: Greencore Group is an Ireland-based manufacturer of convenience foods. Its segments include Convenience Foods UK and Ireland. Greencore supplies a
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