Batbold Sukhbaatar of Mongolia addresses the Millennium Development Goals Summit at the United Nations headquarters in New York, September 22, 2010. Emmanuel Dunand | AFP | Getty Images Federal prosecutors on Tuesday sued to seize two New York City apartments worth $14 million that were allegedly bought with proceeds from a corrupt scheme involving Mongolia’s
Municipals were steady to weaker in spots Thursday ahead of a smaller new-issue calendar while municipal bond mutual funds saw more inflows. U.S. Treasury yields rose 10 years and in and equities ended mixed. LSEG Lipper reported fund inflows of $447 million for the week ending Wednesday following $63.8 million of inflows the prior week.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. At the big coming-out event for Nvidia’s latest artificial intelligence chip this month, chief executive Jensen Huang shared the spotlight with only one other tech boss — and even then, only momentarily. Michael Dell was
The Purdue University Trustees priced $72.43 million of student fee bonds Tuesday, joining other issuers in refunding some of the university’s outstanding Build America Bonds. Lead managers Jefferies and Ramirez & Co. priced the deal Wednesday, with Wells Fargo Securities serving as co-manager. The municipal advisor is Blue Rose Capital Advisors. Bond counsel is Ice
Stay informed with free updates Simply sign up to the Equities myFT Digest — delivered directly to your inbox. Global stock markets have recorded their best first-quarter performance in five years, buoyed by hopes of a soft economic landing in the US and enthusiasm about artificial intelligence. An MSCI index of worldwide stocks has gained
Traders work on the floor at the New York Stock Exchange on March 13, 2024. Brendan McDermid | Reuters A new company will try to crack the code of integrating artificial intelligence and investing, and it will be mostly focused on helping individual traders make buy and sell decisions. The firm, called iFi AI, launches
Ascentxmedia | E+ | Getty Images Rent prices for one- and two-bedroom apartments grew in March for the first time in six months. The monthly cost for a one-bedroom apartment across the U.S. bumped up to $1,487, a 0.3% increase from February. The price of a typical two-bedroom apartment also jumped 0.5% to $1,847,
The Public Finance Authority’s $246.7 million tax-exempt revenue bond deal for Miami Worldcenter will help finance one of the largest urban development projects underway in the United States and provide high-yield investors with attractive yields. The deal, priced by senior manager D.A. Davidson & Co. and co-managing underwriter Truist Securities Tuesday, came with two term
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Thames Water said its shareholders will no longer provide £500mn of fresh equity by the end of the month over fears that conditions imposed by the industry regulator make the company’s business plan “uninvestible”. The
Municipals were mixed Wednesday, but selling pressure was evident on the short end, as few deals of size priced in the primary market and balances from Tuesday’s large new-issues were digested. Munis underperformed a stronger U.S. Treasury market while equities ended up. Despite weakness Wednesday and Tuesday, munis have “held in pretty well,” with yields
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A green energy tycoon who plans to donate £5mn to the UK’s Labour party has been ordered by the High Court to inform his wife before he hands over more cash. Lawyers acting for Dale
BlackRock CEO Larry Fink Taylor Hill | Getty Images Entertainment | Getty Images BlackRock Chairman Larry Fink said capital markets can help solve a crisis brewing around the ability of Americans to afford retirement as lifespans elongate, and for the government to provide a basic safety net. In his annual letter to shareholders, Fink called
A ‘For Sale’ sign is posted on the lawn in front of a home on March 15, 2024, in Miami, Florida. Joe Raedle | Getty Images The usually busy spring housing market is underway, but mortgage demand isn’t moving. Application volume was essentially flat last week, dropping 0.7% compared with the previous week, according to
Houston would be able to accommodate the cost of a proposed settlement with its firefighters in the near term, but will need a revenue boost to prevent a structural budget gap from growing, City Controller Chris Hollins said Tuesday. Hollins, who took office in January, said he will have to certify if funds are available
Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. China’s President Xi Jinping met a group of US chief executives on Wednesday as American business leaders sought to mend ties frayed by geopolitical and trade tensions between the world’s two largest economies. The gathering
A massive new-issue slate was the focus Tuesday, with investors digesting three large general obligation deals out of California, New York City and Washington, amid lighter but slightly weaker secondary trading. The onslaught of new-issuance and approaching month- and quarter-end led triple-A yields to rise up to seven basis points on the short end and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares in Donald Trump’s social media business rose 26 per cent ahead of its New York market debut on Tuesday, valuing the former US president’s stake at about $5bn as he faces massive legal bills.
The $1.2 trillion spending bill that was passed by the U.S. Senate and signed by President Biden on Saturday doesn’t address any of the key legislative issues affecting the municipal bond market, but flickers of hope remain in the few months before the elections in November. Reforming rules on Low Income Housing Tax Credits that
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US faces a Liz Truss-style market shock if the government ignores the country’s ballooning federal debt, the head of Congress’s independent fiscal watchdog has warned. Phillip Swagel, director of the Congressional Budget Office, said
Adam Neumann of WeWork and Victor Fung Kwok-king, right, chairman of Fung Group, attend a signing ceremony at WeWork’s Weihai Road location on April 12, 2018 in Shanghai, China. Jackal Pan | Visual China Group | Getty Images Adam Neumann has submitted an unsolicited bid in excess of $500 million to acquire WeWork out of
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