Kansas Gov. Laura Kelly’s veto of expansive tax cut legislation barely fended off an override, which fell short by one vote in the Senate after easily passing the House. House Bill 2036, which cleared the Republican-controlled legislature in April with hefty majority votes, included changes to income, sales, and property taxes that would result in
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A Redfin sign in front of a home for sale in Atlanta, Georgia, on Sunday, Nov. 13, 2022. Elijah Nouvelage | Bloomberg | Getty Images Strong demand and tight supply continue to push home values higher, even though mortgage rates are now moving higher again. Home prices in February jumped 6.4% year over year, another
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK mortgage approvals hit their highest for 18 months in March, according to official figures that suggest the property market is continuing to recover despite recent rises in quoted rates. Net mortgage approvals rose to
Ahead of an expected push to broaden tax-exempt financing authority for tribal governments next year, a pair of Federal Reserve Bank of Minneapolis economists are recommending the tax code be reformed to allow tribes greater access to the financing tool. An April 25 paper titled “Tax code constraints limit tribal tax-exempt bonding” notes the relatively
In this article ZG Follow your favorite stocksCREATE FREE ACCOUNT Vitapix | E+ | Getty Images People looking to buy or sell a home this spring are paying close attention to mortgage rates. The average 30-year, fixed-rate mortgage rose to 7.17% for the week ended April 25, according to Freddie Mac data via the Federal
Israel has said that it would be willing to delay a long-planned assault on Hamas’s last stronghold in the Gaza Strip if a deal to secure the release of Israeli hostages can be agreed. Hamas said over the weekend that it was studying a new proposal by Egypt and Israel that, according to reports, would
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is an international lawyer and founder of España Mejor, a non-partisan organisation to counteract political disengagement and polarisation Pedro Sánchez, Spain’s Socialist prime minister, startled the nation last Wednesday when he said he
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk met senior Chinese trade officials in Beijing on Sunday as the Tesla chief faces questions over slowing sales growth for his electric vehicles and data security concerns in the world’s biggest car market.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Topsy-turvy US economic data released this week left markets in a pickle, but still just outside the danger zone. Official figures revealed on Thursday that the US economy was not necessarily streaking ahead of the
Stay informed with free updates Simply sign up to the Airlines myFT Digest — delivered directly to your inbox. A shortage of aircraft seats is adding to bottlenecks in the industry’s supply chains, hampering plans by airlines to refurbish cabin interiors and unveil new upgraded planes. Aircraft seats, in particular those for first and business
Microsoft and Google’s owner Alphabet have quashed investor scepticism around the vast sums spent on developing artificial intelligence, after being boosted by rampant corporate demand for their cloud computing services. The combined market value of the two US tech giants rose by more than $250bn on Friday, a day after each reported double-digit revenue growth
The California Treasurer’s office will relaunch its DebtWatch website on May 1, offering a more user-friendly format with vastly more data than the original 2015 version. The website’s software will allow investors, issuers and taxpayers to access all the data the California Debt and Investment Advisory Commission gathers on bond issuance to allow them to
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,
Kansas Gov. Laura Kelly on Wednesday vetoed tax cut legislation that she called “too expensive” and offered lawmakers a less-costly alternative. The Democratic governor, who in January vetoed a previous tax reduction bill passed by the Republican-controlled legislation, said the latest measure “jeopardizes our state’s future fiscal stability.” House Bill 2036, which cleared the House
Facing one of the worst stock slumps in Tesla’s 14-year history, Elon Musk was under pressure this week to deliver a reassuring message to investors about its next generation of electric vehicles and a persuasive vision for an AI-driven, automated future. Instead, what the chief executive offered — alongside even worse than expected first-quarter profits
The recently announced sale of the National Hockey League’s Arizona Coyotes and the team’s move to Utah could lead to bond issuances for arena projects in both states. Under a plan approved by the NHL Board of Governors last week, the team, which had been unable to secure a permanent arena in Arizona, was sold
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The world’s largest sovereign wealth fund has sharply criticised ExxonMobil’s decision to sue two shareholders that filed a climate proposal at the US oil major, pursuing the litigation even after they dropped the resolution. Nicolai
The California Supreme Court has granted review of a case challenging retirement reforms state lawmakers approved 11 years ago, marking a return of pension spiking questions to the high court for the first time since a 2020 ruling on an Alameda County case. The new case — Ventura County Employees’ Retirement Association v. Criminal Justice
A residential real estate sold sign is seen in Washington, D.C. Brendan Smialowski | AFP | Getty Images Mortgage rates rose for the third straight week last week, hitting the highest level since November. As a result, mortgage application demand dropped 2.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted
Local government officials in Texas are increasingly feeling the sting of 2021 state laws that banned big banks from underwriting municipal bonds for “boycotting” or “discriminating” against the fossil fuel or firearm industries. Several aired their grievances at The Bond Buyer’s Texas Public Finance conference in Austin last week, noting the impact of the laws,
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