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Asbestos. Lead. Temperatures that reach 115 degrees. Cracks in the ceiling so big you can see the sky. All of these have been found in Pennsylvania’s public schools.  Pennsylvania lawmakers toured schools around the commonwealth last year, and what they found was “nothing short of shameful,” according to State Representative Peter Schweyer.  “I was touring
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Istanbul’s opposition mayor Ekrem İmamoğlu was leading against President Recep Tayyip Erdoğan’s ruling party in Sunday’s pivotal municipal elections, according to preliminary returns. İmamoğlu was ahead of Erdoğan’s mayoral candidate Murat Kurum by 8 percentage
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Stay informed with free updates Simply sign up to the Utilities myFT Digest — delivered directly to your inbox. Thames Water’s owners will start urgent restructuring talks in the coming days as parent company Kemble risks entering insolvency within weeks unless lenders agree to a debt-for-equity deal, according to people familiar with the matter. Alvarez
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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. It was a grim irony that as new questions were swirling over the future of debt-laden Thames Water — Britain’s largest water utility — this weekend, the annual Oxford-Cambridge Boat Race had to go ahead
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The surge of money flooding into artificial intelligence has resulted in some crypto-like hype that is obscuring the incredible scientific progress in the field, according to Demis Hassabis, co-founder of DeepMind. The chief executive of Google’s AI research division told the Financial Times that the billions of dollars being poured into generative AI start-ups and
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Thames Water is in trouble: cash-strapped, struggling to control sewage outflows and water leakage, and without the storage capacity to deal with shortfalls during hot weather. Concerns over the future of Britain’s biggest water provider reached a peak this week when investors refused to inject £3bn of much-needed equity, despite nearly a year of negotiations
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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
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A proposed $2 billion public private partnership that would have moved two major league sports teams out of Washington D.C. and into a bond-financed, built-from-scratch arena in Northern Virginia is officially off, following an announcement that the District has come to terms on a deal to keep the teams in their current home. On Wednesday,
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The New York Metropolitan Transportation Authority Board voted 11-1 to adopt its congestion pricing toll structure, the first of its kind in the nation and a key source of funding for the MTA’s upcoming capital projects. The vote will allow congestion pricing to be implemented as planned in mid-June. However, the congestion pricing plan is
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