Stay informed with free updates Simply sign up to the US foreign policy myFT Digest — delivered directly to your inbox. A US drone strike in Iraq killed the commander of a powerful Iranian-backed militia, the latest retaliatory move by American forces following an attack on a base that killed three US soldiers last month.
Municipal bonds are part of an Illinois city’s plan to help the local casino build a bigger venue at a new location. In its current form, Aurora’s Hollywood Casino occupies a barge tethered near downtown on the Fox River. The city wants to build a brand new casino resort about five miles away, near an
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Uber is courting one of its oldest foes, the London black-cab driver, as it looks to add a new taxi option to its fleet in the UK capital next year. San Francisco-based Uber has begun
Hawaii’s first-of-its-kind per-mile fee for vehicles marks the latest and most extensive effort yet among states seeking to offset the fading fuel tax. Signed into law by Gov. Josh Green last July, the law requires EVs to pay a per-mile charge or an annual fee by 2025 and will require all vehicles to pay a
Stay informed with free updates Simply sign up to the Geopolitics myFT Digest — delivered directly to your inbox. Reconcile, if you can, the following statements. First, universal laws are just another form of western empire. While the US and its allies lecture developing countries about such rich-world frills as human rights, China and Russia
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s national chip champions expect to make next-generation smartphone processors as early as this year, despite US efforts to restrict their development of advanced technologies. The country’s biggest chipmaker SMIC has put together new semiconductor
Pennsylvania Gov. Josh Shapiro announced a new economic development plan that he says will guide the priorities when he releases his budget this week. The 10-year program is Pennsylvania’s first economic development plan in nearly two decades and targets areas including site readiness, workforce development and housing and community development. “For too long, Pennsylvania’s neighboring
This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Federal Reserve’s rate-setters still expect to make around three quarter-point rate cuts this year, its chair Jay Powell said in an interview that aired on Sunday. Powell told CBS’s 60 Minutes show that “almost
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. One of the UK’s two state-of-the-art aircraft carriers will not take part in the largest Nato exercise in Europe since the cold war after last-minute checks identified a problem with its propeller. The Royal Navy
In this article NYCB Follow your favorite stocksCREATE FREE ACCOUNT The Aozora Bank Ltd. headquarters in Tokyo Japan, on Thursday, Feb. 1, 2024. Japan’s Aozora Bank became the second lender in a span of hours to surprise investors with losses tied to US commercial property, sending shares down by the limit and heightening concern over
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese markets are feeling the heat from the latest drama surrounding two property developers: Evergrande and Donald Trump. The latter will potentially have more impact. A Hong Kong court this week ruled that, two years
The Biden administration will not be appealing to the Supreme Court an Eleventh Circuit ruling in favor of states, who’ve challenged the American Rescue Plan Offset Provision that bars states from using federal aid dollars to fund tax cuts, in what may be an end to those state challenges. That decision was communicated in a
Pictured here is a real estate project under construction in Huai’an, China, on Jan. 21, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country’s overall growth. That’s according
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Donald Trump said he wanted to replace Jay Powell as chair of the Federal Reserve, accusing him of being “political” and predicting that he would cut interest rates to “help the Democrats” this year. Trump
Proposed changes to California’s mental health system and a $6.4 billion bond measure proposed in Proposition 1 continue to garner more support as the March 5 election draws near. The proposition, which will be the only one on the March ballot, would use funds from California’s so-called millionaire’s tax to create more slots for people
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The cost of UK carbon emissions permits has fallen to an all-time low, raising fears it will weaken the incentive to build cleaner renewable energy sources. Futures contracts tracking the UK carbon price to December
On Wednesday the House passed new legislation that seeks adjustments to Low-Income Housing Tax Credits issued by the Treasury that lowers the volume requirements of state-issued private activity bonds. The Tax Relief for American Families and Workers Act passed via a 357 -70 vote featuring strong bipartisan support. It stands on two legs of expanding
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. Twenty-five years ago, I heard a clutch of top American financial officials, including Timothy Geithner and Lawrence Summers, offer advice to their Japanese counterparts about how to tackle a property crisis. The essence of their
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Elon Musk has said Tesla will hold an investor vote on whether to move its corporate registration to Texas, in the wake of a court judgment in Delaware that voided his $56bn pay package. Tesla
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