Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Net migration to the UK hit a record 745,000 last year — 139,000 higher than previously estimated — with big increases in non-EU nationals coming for work, the Office for National Statistics said on Thursday.
Binance’s $4.3 billion settlement with the United States was the final hurdle before the country’s securities regulator approves spot Bitcoin exchange-traded funds (ETFs), many industry watchers claim. The settlement involved Binance agreeing to Justice Department and Treasury compliance monitors for up to five years, allowing the agencies sweeping powers to keep the exchange in line
The director of Netflix’s sci-fi series Conquest reportedly used $4 million from the show’s budget to bet on Dogecoin (DOGE) and made $27 million in the process. Now the director, Carl Erik Rinsch, wants another $14 million from Netflix, according to a Nov. 22 report in The New York Times citing a confidential arbitration proceeding.
A firm tone and hearty appetite from investors was evident Wednesday as the municipal market prepared for a shortened week due to the Thanksgiving holiday. U.S. Treasuries were mixed and equities were better. The two-year muni-to-Treasury ratio Wednesday was at 63%, the three-year at 64%, the five-year at 65%, the 10-year at 67% and the
A bankruptcy court recently ruled for the most part in favor of Chester, Pennsylvania, bondholders in an adversary proceeding filed by the city challenging liens on revenues for bonds issued in 2017 as part of a financial recovery plan for the city. Chester, which filed for bankruptcy in November 2022, has faced decades of financial
Former Sterlington, Louisiana, Mayor Vern Breland has, without admitting or denying the findings, agreed to pay a $35,000 civil penalty in addition to a permanent bar from future municipal securities offerings following his role in providing false projections to the Louisiana State Bond Commission in connection with two offerings worth $5.8 million, the Securities and
An Oklahoma law prohibiting state and local government contracts with companies that “boycott” the fossil fuel industry is the target of a lawsuit, claiming the measure prevents public employee pension funds from performing their constitutional duty to operate for the exclusive benefit of their beneficiaries. The case filed in Oklahoma County District Court this week
Traders hate uncertainty; hence, the settlement between Binance, Changpeng “CZ” Zhao and the United States Department of Justice is likely to be viewed as a positive for the cryptocurrency space. Analysts largely remained positive on the deal, but a few sounded cautious due to the Securities and Exchange Commission’s pending lawsuit against Binance. Bitcoin (BTC)
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK chancellor Jeremy Hunt has cut national insurance by 2 percentage points and made business investment tax relief permanent, as he put a £20bn tax giveaway at the heart of his Autumn Statement. Hunt claimed
An “Open House” sign is displayed in the front yard of a home for sale in Columbus, Ohio, U.S. Bloomberg | Bloomberg | Getty Images Mortgage demand is finally crawling out of the basement as interest rates continue to move lower. Total application volume increased 3% last week from the previous week, according to the
A delegation from Miami-Dade County, Florida, will visit Japan from Nov. 25 to Dec. 6 in a bid to deepen trade and commerce ties and establish business connections between the two regions. Miami-Dade County Mayor Daniella Levine Cava and Oliver Gilbert III, Chairman of the Board of County Commissioners, will lead a delegation from the
Wisconsin has released a request for qualifications from firms willing to serve as bond underwriters in either a senior manager or co-manager capacity. The state Capital Finance Office will set up pools of qualified investment banking firms, which it will use to designate underwriting syndicates effective through Dec. 31, 2026. Clarifications are due by noon
Citi’s municipal division appears to have been spared from initial reorganization efforts at the firm, according to market sources. Citigroup informed its employees Monday of an upcoming round of job cuts and managerial changes — the next large step in CEO Jane Fraser’s push to create a simpler, flatter company. Citi did not say how many positions
Question: What could turn office-bound wage earners into digital nomads faster than a fully equipped Winnebago? Answer: The Covid-19 pandemic, of course. Covid liberated once-inert employees to move freely and work where they chose. For many, what they chose was the chance to travel widely, working from hotels and other hospitality industry settings. Marrying work
Executives from crypto asset manager Grayscale have met with the Securities and Exchange Commission to discuss details of its flagship Bitcoin (BTC) trust, which the firm wants to convert to a spot Bitcoin exchange-traded fund (ETF). A Nov. 20 SEC memo disclosed Grayscale CEO Michael Sonnenshein, legal chief Craig Salm, ETF head Dave LaValle and
Warren Buffett, chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Nebraska, May 5, 2019. Nati Harnik | AP Warren Buffett donated more than $870 million in Berkshire Hathaway stock to four family foundations before Thanksgiving, assuring investors in a letter that the conglomerate is “built
Municipals were firmer Tuesday as U.S. Treasury yields fell slightly, following the release of the Federal Open Market Committee meeting minutes that said officials will remain cautious about future interest rate hikes. Equities ended down. Muni triple-A yield curves were bumped two to six basis points Tuesday, depending on the curve, as municipals continued to
The current municipal rally has led to an increase in tax loss harvesting as more investors leverage the strength and pre-holiday liquidity to consider repositioning their portfolios. This year has seen an increase in and an earlier start to tax loss harvesting after rapidly rising, and then subsequently falling, interest rates and stronger equity market
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jeremy Hunt will on Wednesday put a £9bn permanent tax break for business at the heart of his Autumn Statement, as the UK chancellor attempts to jolt Britain’s sluggish economy back to life. Facing forecasts
Sales of previously owned homes were 4.1% lower in October compared with September, running at a seasonally adjusted annualized rate of 3.79 million units, according to the National Association of Realtors. It was the slowest sales pace since August 2010. Analysts were expecting a smaller drop, to 3.9 million units. Sales were down 14.6% year-over-year.
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