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Activist Ananym has a list of suggestions for Henry Schein. How the firm can help improve profits
In this article HSIC Follow your favorite stocksCREATE FREE ACCOUNT Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Company: Henry Schein (HSIC) Business: Henry Schein is a solutions company for health care. It operates through two segments: health care distribution, and technology and value-added services. The health care distribution segment distributes an array…
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States eye green bonds, superfund and cap-and-invest programs to fund resilient infrastructure needs
Pew senior officer Fatima Yousofi found states are considering diverse funding and financing tools to manage climate threats to their infrastructure.Pew As the municipal bond market expects issuance to swell over the next decade to accommodate climate-related infrastructure needs, states are also eying cap-and-invest and superfund programs to augment what is expected to be substantial…
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Russia recruits Yemeni mercenaries to fight in Ukraine
Russia’s armed forces have recruited hundreds of Yemeni men to fight in Ukraine, brought by a shadowy trafficking operation that highlights the growing links between Moscow and the Houthi rebel group. Yemeni recruits who travelled to Russia told the Financial Times they were promised high salaried employment and even Russian citizenship. When they arrived with…
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Longtime municipal bond banker George Joseph McLiney, Jr. dies at 87
Longtime investment banker George Joseph McLiney, Jr., passed away unexpectedly at age 87 Saturday. The founder of McLiney and Company, which was acquired by SAMCO Capital Markets in 2019, McLiney was also a devoted husband, father, grandfather and great-grandfather, an avid golfer and a successful Kansas cattleman. George McLiney, Jr. “He loved life, and that…
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Goldman Sachs takes $900mn hit on Northvolt investment
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Funds managed by Goldman Sachs will write off almost $900mn after Swedish battery maker Northvolt filed for Chapter 11 bankruptcy this week. Goldman’s private equity funds have at least $896mn in exposure to Northvolt, making…
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Data centers powering artificial intelligence could use more electricity than entire cities
An Amazon Web Services data center in Ashburn, Virginia, US, on Sunday, July 28, 2024. Nathan Howard | Bloomberg | Getty Images The power needs of artificial intelligence and cloud computing are growing so large that individual data center campuses could soon use more electricity than some cities, and even entire U.S. states, according to…
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Wisconsin village in court fight over terminated transportation fee
The village of Pewaukee, Wisconsin, is facing legal action over its transportation utility fee, which the Wisconsin Court of Appeals struck down in March.Adobe Stock The village of Pewaukee, Wisconsin, has become the target of lawsuits from the state’s combined chamber of commerce and manufacturers’ association over its transportation utility fee, which was struck down…
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‘Sigh of relief’: Wall Street welcomes Trump’s pick of Bessent for Treasury
Scott Bessent sat directly to Donald Trump’s left as the then presidential candidate laid out his economic agenda to a roomful of Wall Street bigwigs at the Economic Club of New York in September. Following his nomination to the top job at the US Treasury department, Bessent will now move into the spotlight as the…
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Market technicals a boon for muni performance in November
<img src=”https://public.flourish.studio/visualisation/20436998/thumbnail” width=”100%” alt=”chart visualization” /> The municipal market was lightly traded and little changed Friday ahead of the Thanksgiving-shortened week, with strong market technicals leading to more muni outperformance to U.S. Treasuries and corporates. Triple-A yields barely budged for the ninth consecutive trading session while USTs saw small losses on the short end and…
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Trump picks Scott Bessent as Treasury secretary
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Donald Trump has picked Scott Bessent to be his US Treasury secretary, nominating one of his biggest financial backers as the top economic official of his second administration, according to five people familiar…
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Weekly mortgage demand inched up, despite higher interest rates. Here’s why
Single-family homes in a residential neighborhood in San Marcos, Texas. Jordan Vonderhaar | Bloomberg | Getty Images After flatlining the week before, mortgage demand rose last week, despite mortgage rates increasing for the fourth straight week. Total application volume climbed 1.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.…
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Anatomy of a deal: California Community Choice authority’s ESG winner
Clearway’s Victory Pass and Arica solar and battery storage project in Riverside County is among the renewable suppliers for Clean Energy Alliance.Clearway California’s burgeoning array of public community choice aggregators for electricity supply has made their presence known in the municipal bond market. This year, the California Community Choice Financing Authority issued the largest prepaid…
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Northvolt chief resigns a day after battery maker collapses into bankruptcy
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Northvolt’s chief executive has resigned a day after Europe’s big battery hope filed for bankruptcy in the US. Peter Carlsson took responsibility for the dramatic collapse during a town-hall meeting with employees on Friday morning,…
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Mutual fund inflows top $1.2B, half into HY
<img src=”https://public.flourish.studio/visualisation/20420841/thumbnail” width=”100%” alt=”chart visualization” /> Municipal were little changed Thursday as inflows into muni mutual funds topped $1 billion. U.S. Treasury yields rose and equities closed the session up. Municipal bond mutual funds saw $1.288 billion of inflows for the week ending Wednesday, according to LSEG Lipper. That compares to $303.2 million of inflows…
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Matt Gaetz withdraws as Trump’s nominee for US attorney-general
Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Matt Gaetz has withdrawn his name from consideration for US attorney-general, in a blow to Donald Trump after the president-elect made the controversial former congressman his pick to run the Department of Justice.…
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Cathie Wood says her ‘volatile’ ARK Innovation fund shouldn’t be a ‘huge slice of any portfolio’
Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, February 27, 2023. Brendan McDermid | Reuters Cathie Wood is defending her underperforming ARK Innovation exchange traded fund following a rocky stretch. “We have a volatile fund,” she told…
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Home sales surged in October, just before mortgage rates jumped
A home with a “Sold” sign from a real estate company in North Patchogue, New York. Steve Pfost | Newsday | Getty Images A sharp drop in mortgage rates brought homebuyers off the fence in October after a slow summer. Sales of previously owned homes last month rose 3.4% from September to a seasonally adjusted,…
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Anatomy of a deal: Calcasieu Bridge’s public-private partnership winner
A rendering of the planned Calcasieu River bridge in southwest Louisiana, the state’s largest and most complex public-private partnership to date.Plenary One way to tell that the public-private partnership to replace Louisiana’s Calcasieu Bridge has gained national attention in P3 and transportation infrastructure circles? “People can actually pronounce it now the correct way,” joked Shawn…
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Russia fires intercontinental ballistic missile at Ukraine for first time, Kyiv says
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Russia has fired an intercontinental ballistic missile for the first time since its full-scale invasion of Ukraine in 2022, following days of escalation in the conflict. Ukrainian air defence forces said the missile, which…
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Muni buyers focus on primary, traders ignore more UST losses
<img src=”https://public.flourish.studio/visualisation/20399114/thumbnail” width=”100%” alt=”chart visualization” /> Municipal secondary trading did little to move triple-A yield curves, outperforming a weaker U.S. Treasury market again, as the primary market took focus. Triple-A yield curves barely budged while USTs saw losses of three to four basis points across the curve. The day’s moves pushed ratios lower still. The…
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