Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A US appeals court has halted a trade tribunal order banning Apple from selling the Watch Series 9 and Ultra 2 in the US, the latest development in an ongoing patent battle with health technology
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Florida Chief Financial Officer Jimmy Patronis has been given the Israel Bonds Leadership Award for the state’s financial support of the Jewish community and the State of Israel. Ohio Treasurer Robert Sprague presented the award to Patronis during Israel Bonds Prime Minister’s Circle Gala in Boca Raton on Dec. 18. At the ceremony, Patronis announced
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. How much is a bond worth? In 2023, investors learned that it depended on what you intended to do with it. Think, for instance, of the US regional banking crisis that kicked off with the
The influence of China’s once-powerful central bank has diminished as Beijing steps up a drive to centralise Communist party control over financial regulation. Some of the powers formerly held by the People’s Bank of China have been taken over by a party oversight body and a revamped financial regulator as Beijing resets its growth model.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Israel’s Prime Minister Benjamin Netanyahu has vowed to fight on in the war against Hamas, despite a mounting death toll and growing international calls to alleviate the humanitarian suffering in the Palestinian enclave and halt
Arizona’s Water Infrastructure Financing Authority will begin a solicitation process next year for projects to boost the parched state’s water supply using information gleaned from a query it sent out this fall. The agency, which oversees $1 billion the state legislature in 2022 appropriated over three years for water augmentation, received 28 responses to its
Florida’s unemployment rate inched up to 2.9% in November from 2.8% in October, Florida Commerce reported on Friday. Florida’s jobless rate was 0.8 percentage point lower than the 3.7% national rate in November, the 37th straight month the state’s unemployment rate remained below that of the nation as a whole. The state’s overall workforce continued
Cities and states saw pension liabilities rise in fiscal 2022 amid negative market returns even as they significantly boosted contributions with the support of federal stimulus aid. Those are the findings of a new white paper, “State and Local Pension Funds 2022,” which reviews the performance of 648 pension funds making up 90% of all
News of the $68 billion budget deficit projected for California in fiscal years 2022-23 and 2023-24 raised alarm bells. But several state budget watchers say longer-term trends are less worrying. Though S&P Global Ratings revised the state’s outlook to stable from positive Friday, the rating agency has said the state remains solidly in the double-A
Federal Reserve Bank of Philadelphia President Patrick Harker said the central bank should begin to reduce interest rates — though not immediately — offering a softer pushback against widespread market expectations of early 2024 cuts than some of his peers. “It’s important that we start to move rates down,” Harker said Wednesday in a local
House for sale with “For Sale” real estate sign in yard in spring or summer season. No people. Fstop123 | E+ | Getty Images Mortgage demand fell last week compared to the previous week, despite a continued drop in rates, according to the Mortgage Bankers Association‘s seasonally adjusted index. The average contract interest rate for
Republican presidential candidate, former President Donald Trump arrives at a campaign event at the Hyatt Hotel on December 13, 2023 in Coralville, Iowa. Scott Olson | Getty Images News | Getty Images The judge presiding over the high-stakes civil business fraud trial of former President Donald Trump harshly questioned the credibility of a key expert
BlackRock on Monday was sued by the US state of Tennessee, which accused the $9.1tn New York-based asset manager of violating consumer protection laws by misusing environmental, social and governance factors in its investment strategy. The lawsuit filed by state attorney-general Jonathan Skrmetti alleged that BlackRock had been inconsistent in stating whether it focused exclusively
Oregon received $600 million in federal money to help support the long-planned reconstruction of the Interstate 5 bridge that connects Portland to Vancouver, Washington. The project received the full funding amount requested from the U.S. Department of Transportation grant program, Oregon Gov. Tina Kotek said in a statement. “This is a big moment for the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Apple will stop selling its smartwatches through the company’s own US stores before Christmas after losing a patent infringement case, dealing it a blow during the holiday sales season. The iPhone maker said it would
Joe Biden’s upbeat forecasts for the US economy have been validated by the Federal Reserve’s signal that it will consider interest rate cuts next year, delivering respite to American households through lower borrowing costs after two years of high inflation. For months, Biden administration officials have been betting on a “soft landing” — one in
Federal Reserve Bank of New York President John Williams said it’s too early for officials to begin thinking about cutting rates as soon as March as they consider whether policy is restrictive enough to get inflation back to 2%. “We aren’t really talking about rate cuts,” Williams said Friday in an interview on CNBC. He
Connecticut is set to price $840 million of general obligation bonds next week, the state’s last issuance of a year with landmark fiscal policy decisions. The state, which renewed fiscal responsibility measures, lowered income taxes and maintained strong economic metrics, kept its solid ratings from all four agencies for the upcoming deal. “Management in Connecticut,
A proposed deal for a massive mixed-used arena project in Alexandria, Virginia, would be mostly financed through $1.05 billion in project revenue bonds issued by the newly named Virginia Stadium Authority. Details and hardening local opposition are emerging regarding the development of a 12-acre site in Potomac Yard, a former rail hub that straddles Arlington
Noel Hendrickson/Getty Images After a year full of record-high interest rates and home prices, experts say there are signs of improvement for the housing market in 2024. In December, the average mortgage rates dropped below 7% for the first time since August and after an 8% peak in October, which pushed housing costs to the
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