Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. US private equity firms are rushing to take advantage of lower borrowing costs by loading debt on to their portfolio companies and then using the cash to pay dividends to themselves and their investors. Corporate
Cleveland-based KeyBanc Capital Markets has tapped AJ Maggio as managing director and national sales manager of fixed income. Maggio will be based in Chicago and report to Brian Brennan, national head of fixed income and derivatives. “AJ has a demonstrated track record growing, recruiting and managing sales producers across all products,” said Brennan. “He also
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
Iran used two of the UK’s biggest banks to covertly move money around the world as part of a vast sanctions-evasion scheme backed by Tehran’s intelligence services. Lloyds and Santander UK provided accounts to British front companies secretly owned by a sanctioned Iranian petrochemicals company based near Buckingham Palace, according to documents seen by the
In this article RIVN NFLX Follow your favorite stocksCREATE FREE ACCOUNT The Netflix logo is shown on one of the streaming giant’s Hollywood buildings in Los Angeles on July 12, 2023. Mike Blake | Reuters The U.S. stock market continues to be volatile due to the uncertainty surrounding when the Federal Reserve will start to
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
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As Iran’s best-known moderate Hassan Rouhani was being blocked from the powerful body with responsibility to appoint the country’s supreme leader, his hardline successor as president, Ebrahim Raisi, was handed a clear run at the
The Education Finance Council is turning up the pressure on the Internal Revenue Service for clarifications on bond rules that have gone unanswered for four years. The trade group, which represents state-based and nonprofit higher education finance organizations, is asking the agency via a letter to clarify requirements listed in Section 144(b) of the Internal
In this article MAA AVB CPT JBGS EQR Follow your favorite stocksCREATE FREE ACCOUNT A group of renters in the U.S. say their landlords are using software to deliver inflated rent hikes. “We’ve been told as tenants by employees of Equity that the software takes empathy of the equation. So they can charge whatever the
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US forces have carried out a second phase of air strikes in response to the deaths of three American troops in Jordan last weekend, this time hitting targets in Yemen where Iranian-backed Houthi rebels have
In this article BP.-GB Follow your favorite stocksCREATE FREE ACCOUNT A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. John Keeble | Getty Images News | Getty Images Company: BP plc BP provides energy products and services to its customers. The company’s segments include
A small-town southwest Missouri hospital is scrambling to restructure after its bond trustee declared it to be in default. In a special meeting Friday, the board of Nevada Regional Medical Center agreed to hire Stroudwater Associates’ Jason McCormick as its chief restructuring officer. The hospital had been searching for someone to fill that role after
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran and Iraq have warned that a wave of US strikes against militants backed by Tehran could trigger greater instability across the region. The US military said it hit 85 targets at seven facilities in
Municipals saw losses Friday but outperformed by mostly sitting out a larger sell-off in U.S. Treasuries after jobs data showed higher-than-expected gains, forcing another recalibration for participants on rate cut timing. The January employment report came in stronger than expected, with wages rising at the highest rate since March 2022, leading analysts to suggest Federal
Sneksy | E+ | Getty Images Rent prices are coming down in some areas, but not at the pace needed to relieve tenants struggling to pay rent. Half of renters in the U.S. spent more than 30% of their income in 2022 on rent and utilities, according to the new America’s Rental Housing report by
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US carried out strikes in Iraq and Syria on Friday, hitting targets that included elements of Iran’s Islamic Revolutionary Guard Corps, in retaliation for a drone attack killed three American troops based in Jordan.
Los Angeles International Airport had the private-activity bonds supporting its people mover train downgraded to junk with Fitch Ratings citing continuous and ongoing delays and a strained relationship between the developer and the airport. The $1.2 billion in PABs issued through the California Municipal Finance Authority for the project were downgraded to BB-plus from BBB-minus
The Federal Reserve made two things clear at its meeting on Wednesday — interest rate cuts are coming, but not as soon as many investors might like. After two years of turbulence, including a bout of rampant inflation that caught the central bank’s officials off guard, the Fed has called time on one of the most
Municipals rallied Thursday as the Triborough Bridge and Tunnel Authority doubled the size of its deal to $1.6 billion while muni mutual funds saw inflows hit nearly $1.5 billion. U.S. Treasury yields fell and equities improved. Muni yields were bumped two to 12 basis points, depending on the curve, while UST yields fell six to
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
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