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Alexander real estate brothers, sibling raped ‘dozens of victims,’ federal indictment alleges
Tal Alexander (L) and Oren Alexander (R). Getty Images Federal prosecutors accused top real estate agents Tal and Oren Alexander and their brother, Alon, of drugging and raping “dozens of victims” over more than a decade. The brothers were arrested in Miami Wednesday on sex trafficking charges related to the alleged assaults. They face charges of…
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HSBC reviews retail banking outside UK and Hong Kong
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. HSBC is reviewing its retail banking operations outside the UK and Hong Kong, a move that could see it substantially scale back operations in countries including Mexico, as it seeks further cost cuts. The bank…
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MSRB opens public comments for rule change concepts
Michael Decker, senior vice president of federal policy and research at the Bond Dealers of America. The Municipal Securities Rulemaking Board is considering rule changes modernizing disclosure duties for brokers, electronic delivery methods and disclosure timing to boost transparency and standardize practices for municipal fund securities. “We welcome the MSRB’s concept release on municipal fund…
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Nato’s European members discuss 3% target for defence spending
European Nato members are holding talks about increasing the alliance’s target for defence spending to 3 per cent of GDP at its annual summit next June partly in anticipation of Donald Trump’s return as US president. Four people involved in the preliminary talks told the Financial Times they were discussing the steep rise from 2…
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Muni investors mostly ignore weaker USTs post-inflation report
<img src=”https://public.flourish.studio/visualisation/20748106/thumbnail” width=”100%” alt=”chart visualization” /> Municipals were a touch weaker in spots Wednesday, as U.S. Treasury yields rose and equities ended mixed after an inflation print aligned with expectations. A consumer price index that pretty much met expectations, but showed inflation remains sticky, should not deter the Federal Open Market Committee by cutting 25…
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If Trump wants to kill inflation, the first thing he needs to do is get more homes built
Homes under construction in Englewood Cliffs, New Jersey on Nov. 19th, 2024. Adam Jeffery | CNBC If President-elect Donald Trump is going to push inflation back down to a more tolerable level, he will need help from housing costs, an area where federal policymakers have only a limited amount of influence. The November consumer price…
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‘Unverifiable income’ can limit your mortgage options — here’s how to get around it
Sdi Productions | E+ | Getty Images A number of factors can get your mortgage application denied. So-called “unverifiable income” is one of them. Mortgage lenders want to know if you’re financially capable of paying back the loan. One way they’ll do that is by requesting documents like your federal income tax returns, W-2 and…
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Business leaders warn Reeves about the impact of her Budget tax rises
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Business leaders have warned chancellor Rachel Reeves at a private meeting that the economic environment is “extremely challenging”, with companies facing major uncertainty due to her tax-raising Budget and the government’s planned package of employment…
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D.C. presses feds for budget bump
“The district’s fiscal year 2025 budget request to Congress proposes $932 million for the District of Columbia, which is $142 million above the enacted level,” said Rep. Dave Joyce R- Ohio. ”Notably, $47 million of this increase is due to a need for more emergency preparedness funding for the upcoming Presidential Inauguration. As a member…
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Qatar’s $500bn wealth fund targets bigger deals as LNG windfall looms
Qatar’s $500bn sovereign wealth fund is preparing to deploy its cash more aggressively ahead of a petrodollar windfall that could ultimately double its size. Mohammed Al-Sowaidi, the Qatar Investment Authority’s new chief executive, told the Financial Times the fund expected to “do bigger-ticket deals” and invest with “more frequency” as it embarks on a review…
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Suffolk County nabs Moody’s upgrade
Lighthouse at Montauk Point. Long Island. NewYorkMishella/Getty Images/iStockphoto Moody’s Ratings upgraded Suffolk County, New York, two notches citing the county’s improved fiscal position, sales tax growth and operational oversight. Moody’s is the third rating agency to upgrade Suffolk this year, after Fitch Ratings and S&P Global Ratings upgraded the Long Island county. The county plans…
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UK public sector workers face fresh pay squeeze as Treasury takes tough stance
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK public sector workers face a fresh pay squeeze next year, after the Treasury said it would not raise taxes to fund more generous awards. The education and health departments said in evidence to independent…
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California rating outlook raised to stable by Moody’s
California’s bond rating outlook was revised to stable from negative by Moody’s Ratings.Bloomberg News California’s improved revenue outlook has brought the Golden State an improved rating outlook. Moody’s Ratings revised the outlook on California’s Aa2 rating to stable from negative Monday afternoon. Moody’s had revised the outlook to negative in May 2023 citing the state’s…
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Wall Street’s complex debt bonanza hits fastest pace since 2007
Stay informed with free updates Simply sign up to the Financial services myFT Digest — delivered directly to your inbox. Investors’ “relentless” appetite for juicy returns has triggered the biggest boom on Wall Street in complex financial products since the lead-up to the global financial crisis in 2007. The global volume of structured finance transactions…
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Municipals outperform weaker USTs, DASNY prices for retail
&lt;img src=”https://public.flourish.studio/visualisation/20705605/thumbnail” width=”100%” alt=”chart visualization” /&gt; Municipal bonds were little changed to a touch weaker in spots as investors shifted their focus to the larger new-issue slate ahead while U.S. Treasuries saw losses along the curve and equities closed the session in the red. Municipal yield curves were mostly little changed to weaker by a…
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AI play Pure Storage soars 24% after touting it won a contract with an unnamed big tech company
In this article PSTG Follow your favorite stocksCREATE FREE ACCOUNT Low-angle view of sign with logo on facade of technology company Pure Storage in the Silicon Valley town of Mountain View, California, October 28, 2018. Smith Collection/gado | Getty Images Pure Storage shares rallied after announcing a contract with an unnamed “top four” AI hyperscaler…
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A Florida ‘condo cliff’ is coming as owners deal with fallout from 2021 Surfside collapse
After the deadly collapse of a 12-story condominium tower in the Surfside suburb of Miami, Florida, in 2021, state lawmakers implemented new requirements for older condominiums. Buildings at least 30 years old, like the Champlain tower that fell, have to undergo special inspections, make repairs and gather reserve funds for future maintenance. The deadline is…
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New water bill tweaks TIFIA
The latest Water Resources Development Act bill is named after outgoing Senate Environment and Public Works Committee Chair Tom Carper, D-Del.Rachel Wisniewski/Bloomberg The U.S. House of Representatives is poised to vote this week on a sweeping water infrastructure bill that would send billions to flood-control and coastal resiliency projects and revamp a popular transportation loan…
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Assad flees Syria for Moscow as rebels seize Damascus
Show video info Syrian President Bashar al-Assad has fled the country after a stunning offensive by rebels who seized the capital city of Damascus and toppled the dynasty that had ruled for 50 years. Amid scenes of jubilation on Sunday, the rebels proclaimed that “the city of Damascus is free from the tyrant Bashar al-Assad”…
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Kevin Bain joins Public Sector Consultants
Kevin Bain, formerly Detroit’s director of strategy, has joined Public Sector Consultants. Kevin Bain, formerly director of strategy for the city of Detroit, has joined Public Sector Consultants as a senior strategist for climate and project finance. The nonpartisan public policy consulting firm’s reputation and history of innovation in the green bank space drew him…
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