California lawmakers fine-tuned their March budget proposal, cutting spending by $17.3 billion ahead of formal discussions to get a head start on difficult decisions amid a record deficit. Gov. Gavin Newsom, Senate President Pro Tempore Mike McGuire and Assembly Speaker Robert Rivas announced they reached an agreement Thursday, providing specifics about how they plan to
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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. Israel’s military said on Friday that its soldiers had made errors and violated its operating procedures in their strike on a humanitarian convoy this week that killed seven aid workers. The deaths of the workers
Stay informed with free updates Simply sign up to the UK house prices myFT Digest — delivered directly to your inbox. UK house prices fell 1 per cent in March from February, marking their first fall after five consecutive monthly rises and surprising economists who had expected a slight increase. Mortgage lender Halifax, which compiled
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Two Chinese state-owned banks hold a crucial role in the future of Thames Water, as part of a group of lenders involved in a stand-off over debt at the parent company of Britain’s largest water
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Google is working on the biggest shake-up of its search business by charging for new “premium” features powered by generative artificial intelligence, the first time it would put any of its core product behind a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Gold prices surged to an all-time high on Wednesday as traders respond to signals that the US Federal Reserve is preparing to cut interest rates later this year even as inflation remains stubbornly above the
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT 10’000 Hours | Digitalvision | Getty Images Housing costs are outpacing median household incomes in the U.S., further straining affordability. Would-be homebuyers need to earn $113,520 a year to afford the typical house in the U.S. That is 35% more than what the typical household
More than 53,000 people fled Port-au-Prince in three weeks during March as gangs unleashed a wave of violence in Haiti’s capital, the UN said on Tuesday. Tens of thousands fled the city between March 8 and 27, as gangs expanded their presence with a series of attacks on government infrastructure and neighbourhoods that led embassies
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Ukraine has carried out its longest-range drone strikes in Russia more than two years into Moscow’s full-scale war, injuring at least a dozen people in an attack on an industrial facility and a refinery
The S&P 500 retreated from a record high to start the second quarter of 2024 on the back foot, with Treasury yields rising as resilient economic data prompting traders to reassess their bets on rate cuts this year. Despite opening in positive territory on Monday, Wall Street’s benchmark swung to close 0.2 per cent lower
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Turkey’s central bank surprised economists and investors on Thursday with a big rate rise as policymakers seek to cool runaway inflation and halt an accelerating capital flight among local savers. The central bank increased its
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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Companies are rushing to meet their financing needs before the US election this year, in a bid to get ahead of potential market volatility in the final stages of the presidential race. Corporate borrowers have
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 FT contributing editor and writes the Chartbook newsletter In a world of polycrisis, in which intersecting problems compound each other and there are few easy wins, it is all the more
Kristalina Georgieva, Director of the International Monetary Fund (IMF), speaks during the China Development Forum 2024 at the Diaoyutai State Guesthouse on March 24, 2024 in Beijing, China. China News Service | China News Service | Getty Images China has two choices right now: return to its old economic policies, or choose reforms to spur
Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation rose slightly to 2.5 per cent in February, according to the metric that the Federal Reserve uses for its target. The rise in headline Personal Consumption Expenditures inflation, from 2.4 per cent in
With tax season in full swing, the muni market is underperforming and facing selling pressure as investors move out of short-term paper to pay tax blls. However, these dynamics have not made the asset class an undesirable option for investors and most expect demand to remain strong. Munis are returning negative 0.06% month-to-date, while USTs
Stay informed with free updates Simply sign up to the Cryptocurrencies myFT Digest — delivered directly to your inbox. If a Martian landed on Wall Street or in Washington this Easter, they might think that crypto was in retreat. On Thursday, a New York court gave a 25-year prison sentence to Sam Bankman-Fried for fraud
A Colorado bonding authority is taking a step toward purchasing a hotel tied to author Stephen King’s The Shining after an Arizona nonprofit dropped its bond-financed plan to buy and renovate the property. The Colorado Educational and Cultural Facilities Authority (CECFA), which would have been the conduit issuer for up to $475 million of cultural
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Andrew Caballero-Reynolds | AFP | Getty Images The rate at which home prices grow is slowing down. U.S. home prices increased 0.6% from a month before in February, in line with the 0.6% average monthly gain in the roughly eight years leading up to
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