Rockefeller Asset Management added three new portfolio managers to bolster its municipal investment strategies within in its fixed income division, the firm announced Monday. Scott Cottier, Mark DeMitry and Michael Camarella will join Rockefeller from Invesco, where they managed the California Value Municipal Income Trust and the Trust for Investment Grade New York Municipals. They
The sight of a scowling Donald Trump sitting in a New York courtroom, flanked by lawyers, is by now so common that it no longer surprises. Still, there was an added, unspoken tension when the former — and perhaps future — US president appeared in Manhattan criminal court on Monday morning. The charges he was
The Federal Trade Commission has sued to block US luxury goods group Tapestry’s $8.5bn acquisition of Capri Holdings, a move that threatens a bid to create a US rival to European giants LVMH and Kering. The antitrust regulator on Monday alleged that the acquisition would eliminate “head-to-head” competition among the groups’ brands, including Capri’s Michael
Healthy reserves and plans to increase permanent funds to mitigate revenue fluctuations earned Wyoming a positive outlook from S&P Global Ratings. S&P affirmed the state’s AA issuer credit rating, which now has a one-in-three chance of being upgraded over the next two years, as a result of the the positive outlook being elevated from stable,
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Manhattan prosecutors accused Donald Trump of lying “over and over again” about payments made in the days before the 2016 election to prevent claims of an extramarital affair with a porn actor becoming public, as
Stay informed with free updates Simply sign up to the Geopolitics myFT Digest — delivered directly to your inbox. After many months of argument and hesitation, the House of Representatives has finally acted. The vote in Washington to provide $61bn in new military aid for Ukraine may be a turning point in the war with
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US House of Representatives has begun voting on a $95bn package of foreign aid for Ukraine, Israel and Taiwan, in what could be a big breakthrough after months of inaction on Capitol Hill. The
Dado Ruvic | Reuters The Bitcoin network on Friday night slashed the incentives rewarded to miners in half for the fourth time in its history. The celebrated event, which takes place about once every four years as mandated in the Bitcoin code, is designed to slow the issuance of bitcoins, thereby creating a scarcity effect
After Iran fired a barrage of drones and missiles towards Israel a week ago, 70-year-old Hengameh removed the mirrors from her walls and urged family members to stay away from windows for fear of retaliatory strikes. The Tehran resident, who lived through her country’s 1980s war with Iraq, said: “I am haunted by thoughts of
A contentious rule proposal has a host of broker-dealer and investment firms calling for a rewrite as the effects on the municipal bond market portend calamity. “Overall, we recommend that the rules in general be reconsidered and ideally rewritten,” said Susan Joyce, head of muni trading & FI market structure, AllianceBernstein. “We definitely see a
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy National security experts and financial market traders seem to disagree on what will follow the recent escalation of tensions between
Homes in Rocklin, California, on Tuesday, Dec. 6, 2022. David Paul Morris | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going. It now sits right around 7.5%, the highest level since mid-November of last
The Inflation Reduction Act has paved the way for broader participation in affordable housing and a renewed focus by developers on sustainability, panelists at Baker Tilly’s 2024 DevelUP conference said this week. One panelist called the 2022 law “the largest opportunity to build foundational generational wealth that you will experience,” and others praised the tax
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran has activated air defence systems across several provinces, according to official news agency IRNA, after reports that an explosion was heard near the city of Isfahan. Tasnim news agency, which is close to Iran’s
On Tuesday, global law firm Nixon Peabody LLP released the names of newly minted partners and counsels who have arrived at the next level in their public finance career. According to the firm, “Nearly 80% of the new partners are members of historically underrepresented groups at the partnership level in the legal profession, which aligns
The US House of Representatives is expected to vote this weekend on sending $60bn in new military aid to Ukraine, a move that could end a months-long stalemate in Washington at a time Kyiv is starting to lose ground in its attempt to repel Russian aggression. But the package unveiled earlier this week by Mike
When it comes to issuing municipal bonds in Louisiana, state Treasurer John Fleming like things just the way they are. Fleming is pushing back against a proposal in the state Legislature that would make changes to the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tehran has warned Israel it could review its nuclear stance if its atomic facilities are threatened, as tensions rise following Iran’s attack on Israeli territory last weekend. Iran’s Revolutionary Guards said on Thursday it may
Norton Rose Fulbright has hired public-private partnership and infrastructure attorney Patrick Harder to co-head the firm’s U.S. and North America infrastructure groups. Harder joins Norton Rose after 20 years at Nossaman LLP, where he was a leader in the U.S. P3 space and was partner and chair of the infrastructure group. He will co-chair Norton’s
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak has been warned by the IMF to take much tougher action to rein in the UK’s public debt, putting a question mark over the prime minister’s cuts to national insurance. The IMF on
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