Fitch Ratings’ new U.S. local government rating criteria is expected to lead to changes to about 550 ratings in the next six months. Fitch adopted the new criteria — which will affect cities, counties, school districts, and special districts — after working on the revision since the fall. The criteria will also be used to
The Environmental Protection Agency Thursday announced $20 billion of grants to spur clean energy projects primarily in underserved areas, marking the largest federal investment to date in climate-related projects. The money, divided among eight applicants, marks the official launch of the $27 billion Greenhouse Gas Reduction Fund created by President Joe Biden’s 2022 Inflation Reduction
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
High-rise buildings are illuminated at night in the West Coast New Area of Qingdao, East China’s Shandong province, on March 22, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China’s real estate troubles are likely far from over and industry problems need to be addressed quickly if overall GDP growth is to pick up
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
Alexander Spatari | Moment | Getty Images The Biden administration moved this week to limit how much rent can rise in certain affordable housing units across the country. While some housing experts criticized the move, tenant advocates said the new rule, which will cap rent increases at 10%, will help people to stay in their
Munis saw a weaker tone Wednesday as muni yields were cut up to five basis points, depending on the scale, marking a second day of selling pressure, as few deals priced in the primary. U.S. Treasuries were slightly firmer across most of the curve and equities were mixed. “Much like other periods in recent years
The North Carolina Local Government Commission approved more than $1 billion in financing requests from state agencies and local governments at its latest meeting. The largest request on Tuesday’s agenda was from the North Carolina Housing Finance Agency, which was given approval to issue $750 million of revenue bonds to be used to increase the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Tesla Motors will this month send a team to scout locations in India for a proposed $2bn-$3bn electric car plant, according to two people with direct knowledge of the electric vehicle company’s plans. The step
A home is offered for sale on March 22, 2024 in Chicago, Illinois. Scott Olson | Getty Images Mortgage rates didn’t move much last week, and for the second week in a row, neither did mortgage demand. Potential buyers are handcuffed by exorbitant costs and low supply, and current homeowners have little to no incentive
The bankruptcy of Iowa City’s Mercy Hospital is closer to an end with the resolution last week of a dispute between the committee of unsecured creditors, which had filed a complaint on March 25, and trustee Computershare Trust and bondholder representative Preston Hollow Community Capital. The plan support agreement reached raised the estimated dollar amount
The Spring housing market is defying expectations that prices would cool and competition would ease. Higher mortgage rates usually cool both prices and demand, as they did last year, but that’s not the case now. There are still too few homes for sale because current homeowners can’t afford to move, and it’s keeping prices high.
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Nato is drawing up plans to secure a five-year military aid package of up to $100bn, in a bid to shield Ukraine from “winds of political change” that could usher in a second Trump
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
When his partner decided to retire, bond attorney Brian Quint shuttered his San Francisco law firm and joined Stradling Yocca, Carlson & Rauth. Quint & Thimmig closed March 31 — exactly 27 years to the day that it opened on March 31, 1997. Brian Quint started work as of counsel at Stradling on Monday. Brian
U.S. Securities and Exchange Commission chairman Gary Gensler testifies during a Senate Banking Committee hearing on Capitol Hill September 12, 2023 in Washington, DC. Drew Angerer | Getty Images The annual two-day “SEC Speaks” event kicked off Tuesday, offering clues to what the priorities will be for the Securities and Exchange Commission in the coming
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran and Hizbollah on Tuesday vowed to retaliate after a suspected Israeli air strike on Tehran’s consulate in Damascus killed seven Revolutionary Guard officers, including two ranking commanders. Iran’s president Ebrahim Raisi said that Monday
Singapore topped the list on the Economist Intelligence Unit’s business environment ranking. franckreporter | E+ | Getty Images Singapore, Denmark and U.S. are the best places in the world to conduct business, according to the Economist Intelligence Unit business environment ranking. “Singapore will remain the best geography in the world to do business, as it
Munis were little changed Monday as U.S. Treasuries sold off and equities ended mixed. Following the conclusion of the first quarter, munis are seeing losses for the year with the asset class returning negative 0.39% for the year and March returns were at 0.00%, noted Jason Wong, vice president of municipals at AmeriVet Securities. The
Three senior members of Iran’s Revolutionary Guards were killed on Monday in an air strike on the consular section of Iran’s embassy in Damascus, an attack that Tehran has blamed on Israel. The death of Brigadier General Mohammad-Reza Zahedi, a prominent commander of the Revolutionary Guards, marks a significant escalation in hostilities that have engulfed
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