Prospective buyers attend an open house at a home for sale in Larchmont, New York, US, on Sunday, Jan. 22, 2023. Tiffany Hagler-Geard | Bloomberg | Getty Images Sales of previously-owned homes dropped 4.3% in March compared with February, to a seasonally adjusted, annualized rate of 4.19 million units, according to the National Association of
In a first-of-its-kind transaction, the city of Quincy, Massachusetts, issued $10 million of tax-exempt bonds using blockchain technology, taking the first step in what those involved in the transaction say could be a transformation of the municipal bond market. “The city of Quincy has invested in its innovation economy over the past number of years
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. BHP has proposed a takeover of Anglo American, in a deal that would bring together two global mining giants and rank as one of the industry’s largest transactions in years. BHP has made a proposal
The California Supreme Court has granted review of a case challenging retirement reforms state lawmakers approved 11 years ago, marking a return of pension spiking questions to the high court for the first time since a 2020 ruling on an Alameda County case. The new case — Ventura County Employees’ Retirement Association v. Criminal Justice
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. President Joe Biden signed a highly anticipated $95bn foreign aid bill on Wednesday, triggering a move by the Pentagon to rush $1bn in new weapons to Kyiv from US stockpiles, including much-needed air defence
A residential real estate sold sign is seen in Washington, D.C. Brendan Smialowski | AFP | Getty Images Mortgage rates rose for the third straight week last week, hitting the highest level since November. As a result, mortgage application demand dropped 2.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted
Chicago’s City Council on Friday approved the issuance of $1.25 billion of bonds to fund affordable housing and economic development programs after debating the measure for the past month. Rather than raising property taxes, the city will let about 45 tax increment financing districts expire and, once the tax revenue from those districts returns to
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Brussels has raided a Chinese security equipment supplier, deploying new anti-foreign subsidy powers in a move that will further inflame tensions between the trading superpowers ahead of a planned visit by President Xi Jinping to
Moody’s Ratings on Monday revised Illinois’ outlook to positive from stable. The rating agency also affirmed the state’s A3 issuer rating and the A3 rating on Illinois’ general obligation debt and Build Illinois sales tax bonds. It assigned a rating of A3 to $1.8 billion of forthcoming Illinois GO bonds. The new bonds include $250
Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. Some banks are unable to quantify their exposure to private equity, the Bank of England has found, in the latest warning that the $8tn industry could threaten the wider financial system. BoE regulator Rebecca
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
In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Real estate is increasingly a tale of two markets — a luxury sector that’s booming, and the rest of the market that continues to struggle with higher rates and low inventory. Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin.
Local government officials in Texas are increasingly feeling the sting of 2021 state laws that banned big banks from underwriting municipal bonds for “boycotting” or “discriminating” against the fossil fuel or firearm industries. Several aired their grievances at The Bond Buyer’s Texas Public Finance conference in Austin last week, noting the impact of the laws,
Stay informed with free updates Simply sign up to the US interest rates myFT Digest — delivered directly to your inbox. Traders have built up bets that the Federal Reserve could raise interest rates again, a once-unthinkable prospect that highlights a shift in market expectations after stronger than expected US economic data and hawkish comments
Fitch Ratings affirmed both Miami Jewish Health Systems and Subsidiaries long-term issuer default ratings and the the city of Miami Health Facilities Authority’s $41 million of Series 2017 revenue bonds issued by on behalf of MJHS at speculative-grade BB-plus. The rating outlook on both is negative, Fitch said. “The affirmation reflects good growth in the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The FTSE 100 closed at an all-time high on Monday as rising expectations for UK interest rate cuts weakened sterling and boosted corporate valuations in London. Britain’s blue-chip index rose 1.6 per cent to close
In this article 4452.T-JP Follow your favorite stocksCREATE FREE ACCOUNT In this photo illustration a Kao Corporation logo seen displayed on a smartphone. Igor Golovniov | SOPA Images | Lightrocket | Getty Images Company: Kao Corp (4452.T) Business: Japan-based Kao Corp manufactures and sells consumer and chemical products. It operates in five business segments. The
Just an inch of floodwater can generate tens of thousands of dollars in property damage. Homeowners trying to move and start over after such a disaster might find a surprising buyer for their home: the government. The Federal Emergency Management Agency, or FEMA, has spent around $4 billion assisting in the purchase of about 45,000
The devil is in the details and, so far, the details are few and far between in the late once again New York State budget. Gov. Kathy Hochul last week announced a conceptual agreement with state lawmakers on the $237 billion fiscal 2025 budget. “Based on a preliminary assessment of the negotiated changes to the
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