The number of distressed charter schools rose to a record in the beginning of 2024 as the sector struggles with the end of pandemic assistance and rising costs. So far this year, five charter schools have become impaired, meaning a borrower has defaulted on their debt, broken a covenant or used some emergency means to
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Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. Joe Biden sharply rebuked Donald Trump for saying he would encourage Russia to attack Nato allies that did not spend enough on defence, as the US president pleaded for Republicans in Congress to pass
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation slowed to 3.1 per cent in January, as the Federal Reserve considers how soon to begin cutting interest rates. Economists polled by Bloomberg had forecast annual consumer price inflation of 2.9 per cent,
DUBAI, United Arab Emirates — China is facing a confidence deficit as its economy undergoes massive transition and concern grows over its ongoing property crisis, a top banking CEO said while onstage at Dubai’s World Governments Summit. “China’s biggest problem to me is a lack of confidence. External investors lack confidence in China and domestic
The Puerto Rico Electric Power Authority bankruptcy proceedings will not be paused despite a request from bond parties, U.S. District Court Judge Laura Taylor Swain said Monday. Though the First Circuit Court of Appeals is considering how bond parties’ liens on PREPA’s revenues should be treated in the bankruptcy, Swain said regardless of that court’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump has asked the US Supreme Court to put on a hold a ruling that barred him from using presidential immunity as a shield against criminal charges accusing him of meddling in the 2020
Municipals were steady in light secondary trading Monday as U.S. Treasuries were flat and equities ended mixed. The muni market will see “continued strength,” said Wesly Pate, senior portfolio manager at Income Research + Management, largely due to the supply/demand imbalance. “We have entered into a period of a cumulative structural shortfall of tax-exempt debt
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The EU’s chief diplomat and Germany’s president joined other western leaders in condemning former US president Donald Trump’s suggestion that he would allow Russia to attack any Nato member that failed to spend enough on
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Over two thousand attendees are descending on the Fontainebleau Hotel in Miami Beach for the annual Exchange ETF conference. To entice participants, the organizers rented out the entire LIV Nightclub Miami at the hotel for a Super Bowl party Sunday night. While much of the conference
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tech companies have axed 34,000 jobs this year as they rejig their workforces to invest in new areas such as generative artificial intelligence to power their next phase of growth. Microsoft, Snap, eBay and PayPal
In this article EPD VZ MPLX VZ Follow your favorite stocksCREATE FREE ACCOUNT People visit the Verizon stand at the Mobile World Congress (MWC) in Barcelona, Spain February 27, 2023. Nacho Doce | Reuters A strong fourth-quarter earnings season is underway, and it’s time for dividend-paying companies to shine. Resilient dividend-paying companies can offer long-term
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Far more Americans trust Donald Trump to handle the US economy than Joe Biden despite months of strong growth, a new poll has found, underscoring the president’s difficulty in convincing voters his policies are improving
Stay informed with free updates Simply sign up to the US banks myFT Digest — delivered directly to your inbox. Profits in the US banking sector tumbled almost 45 per cent year on year in the final quarter of 2023, even as the squeeze on consumers eased and confidence grew that the US economy would
A Norfolk Southern rail terminal in Austell, Georgia, US, on Tuesday, July 25, 2023. Elijah Nouvelage | Bloomberg | Getty Images Company: Norfolk Southern (NSC) Business: Norfolk Southern is a railway company. It transports a variety of raw materials, intermediate products and finished goods in the United States. Stock Market Value: $57.56B ($254.83 per share)
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The amount US financial institutions have loaned to shadow banks such as fintechs and private credit groups has passed $1tn, as regulators warn that growing ties between traditional and alternative lenders could present systemic risks.
In this article FLNC Follow your favorite stocksCREATE FREE ACCOUNT Rows of cabinets containing lithium ion batteries supplied by Fluence, a Siemens and AES Company, are seen inside the AES Alamitos Battery Energy Storage System, which provides stored renewable energy to supply electricity during peak demand periods, in Long Beach, California on September 16, 2022.
Municipals ended the week quieter than they began it with a mostly steady to firmer tone in spots Friday, outperforming U.S. Treasuries, which saw small losses. Equities were mixed at the close. Tax-exempt yields have moved higher with Treasuries, but outperformed on the whole, while municipal to UST ratios have been “largely moving sideways” in
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Democrats sought to rally around Joe Biden on Friday after they were left reeling by a special counsel’s report that cast the US president as a “well-meaning, elderly man with a poor memory”. As the
The honeymoon phase for environmental, social and governance considerations in the municipal market is beginning to wane, giving way to a more thorough and dynamic vision for how issuers and market participants can deal with the hotly-politicized concpept. ESG was building steam before the pandemic, but has now become so overly-politicized that banks, underwriters and
Employee-owned international broker-dealer Baird has launched a California Public Finance group and hired veteran banker John Baracy as a managing director to run it and be the California K-12 market lead. “It’s been a market we wanted to expand in just given the size of the California economy,” said Brian Brewer, Baird’s director of public
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