Hawaii lawmakers grilled the budget director Thursday as recovery costs for the Maui wildfire are coming in double expectations, putting the budget at risk. During a hearing before the Senate Ways and Means Committee, Budget Director Luis Salaveria was asked when Gov. Josh Green’s administration realized costs to temporarily house people displaced by the fire
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In this article Follow your favorite stocksCREATE FREE ACCOUNT Chesnot | Getty Images Retail traders appear to be using a new tool during this huge rally for bitcoin — exchange-traded funds. The funds, which launched last month, have seen their trading volume surge this week as bitcoin continues to climb. For example, the iShares Bitcoin
Aerial view of the roof gardens at Gasholder Park in Kings Cross, London. Richard Newstead | Moment | Getty Images The U.K. looks poised to lead a European real estate resurgence this year as international investors return capital to the region’s strained property market. An anticipated fall in interest rates and modest economic revival will
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. George Galloway has won a divisive by-election contest in Rochdale with the firebrand politician threatening to inflame tensions in the UK parliament over Israel’s offensive in Gaza. Galloway won 12,335 votes on a 37.6 per
Municipal bond mutual funds saw small inflows, the secondary market showed constructive trading with firmer prints in spots and the asset class is likely to see slightly positive returns for the month. Equities ended in the black, with the Nasdaq leading the rally. Triple-A yields were bumped a basis point or two, depending on the
A bill that includes additional bonding authority for a University of Utah Health medical campus project hit with ballooning costs passed the legislature Wednesday. A provision in Senate Bill 241 would increase the amount of revenue bonds for the West Valley Health and Community Center to $800 million from $400 million. The University of Utah
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Dozens of people were killed in northern Gaza on Thursday after the Israeli military opened fire on Palestinians rushing towards trucks carrying food but said some had died in a crush to reach the supplies.
In this photo illustration, the Webull Financial logo seen displayed on a smartphone screen. Rafael Henrique | SOPA Images | LightRocket | Getty Images Webull is planning to go public through merging with a special purpose acquisition company in a deal that values the digital investing platform at $7.3 billion. The New York-based online brokerage
An urban view of high-rise buildings at dusk as seen from Hong Kong’s Victoria Peak. Nurphoto | Nurphoto | Getty Images Stocks of Hong Kong developers rose after Financial Secretary Paul Chan scrapped property cooling measures in a bid to bolster the sector, which has been weighed down by high borrowing costs and weak economic
Puerto Rico leaders and analysts highlighted fiscal risks facing Puerto Rico’s central government, including a change in how multinationals are taxed, that could, if unresolved, jeopardize future bond payments. At the Puerto Rico Oversight Board meeting Wednesday, board Executive Director Robert Mujica Jr. said the government faced major risks in the coming fiscal years, including
Stay informed with free updates Simply sign up to the UK financial regulation myFT Digest — delivered directly to your inbox. The UK’s top financial regulator is resisting Jeremy Hunt’s effort to make pension funds reveal more about their investments, setting the scene for a clash with the Treasury ahead of next week’s Budget. The
Proponents of the Modernizing Agricultural and Manufacturing Bonds Act which could expand aggie bond issuance are pessimistic about the possibility of any congressional movement this year. Versions of MAMBA have been bouncing around in both houses of Congress since 2017 as a proposed bipartisan update to regulations governing aggie bonds. The legislation is also designed
Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. Jeremy Hunt has drawn up emergency Budget plans to scrap or scale back Britain’s “non-dom” tax rules, in the event that he needs to raise billions of pounds to fund mass-market pre-election tax cuts. The
In this article FSLR Follow your favorite stocksCREATE FREE ACCOUNT A solar field is seen on site at First Solar in Perrysburg, Ohio July 8, 2022. Picture taken with drone. Megan Jelinger | Reuters First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog
Thianchai Sitthikongsak | Moment | Getty Images Higher mortgage rates continue to hit demand from both current homeowners and potential homebuyers. Total mortgage application volume dropped 5.6% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made to account for the Presidents Day holiday. The
Municipals were steady in secondary trading Tuesday as several large deals in the primary market took focus, including the retail pricing for the $1.5 billion-plus deal of general obligation bonds from New York City. U.S. Treasury yields rose 10 years and out and equities were mixed near the end of the trading session. Other large
Vladimir Putin’s forces have rehearsed using tactical nuclear weapons at an early stage of conflict with a major world power, according to leaked Russian military files that include training scenarios for an invasion by China. The classified papers, seen by the Financial Times, describe a threshold for using tactical nuclear weapons that is lower than
Oklahoma will stop collecting state sales tax on groceries under a bill signed into law Tuesday by Gov. Kevin Stitt, who said he is still seeking a reduction in personal income taxes. The elimination of the 4.5% sales tax, which will cost the state around $400 million annually, was overwhelmingly passed by lawmakers. “By cutting
Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Germany’s deputy chancellor said there was “no chance” of sending ground troops to Ukraine and, in a rebuff to France, told Paris it should instead supply Kyiv with more weapons. Robert Habeck rejected French
The homebuilding industry is in a race to make its homes environmentally cleaner and more energy efficient. Real estate as a whole is a massive carbon offender. Both the construction and operation of buildings account for 40% of global carbon emissions. Solar panels and energy-efficient appliances help cut emissions, but more needs to be done
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