Dubai’s property boom in the years following the Covid-19 pandemic has been one of the fastest in the world, fueled by investor-friendly reforms and a surge in expat demand, particularly from Russia in the wake of the start of Moscow’s full-scale war with Ukraine. Some of Dubai’s luxury developments cater specifically to Russian buyers, with
Federal transportation and housing funding will continue to flow until early March after Congress late Thursday passed a short-term appropriations bill a day ahead of a partial government shutdown. “There will not be a shutdown on Friday,” said Senate Majority Leader Chuck Schumer, D-N.Y. “Because both sides have worked together, the government will stay open.
A third of UK universities saw a decline in overseas non-EU applicants in 2023, almost twice as many as the previous year, according to a Financial Times analysis of data from the university admissions service. The cooling of international demand for a swath of British higher education institutions came as overall non-EU applications grew 3.6
The Illinois Supreme Court Friday upheld pension consolidation legislation championed by Gov. JB Pritzker that was challenged in court by more than a dozen suburban and downstate police and firefighter pension funds. The case, Arlington Heights Police Pension Fund et al. v. JB Pritzker et al., had pitted the governor and General Assembly against a
Stay informed with free updates Simply sign up to the Hedge funds myFT Digest — delivered directly to your inbox. Assets managed by the Chinese operations of Bridgewater and Two Sigma surged as the US hedge funds outperformed their local peers during the market turbulence of last year. Bridgewater China Investment Management, the local arm
Luis Alvarez | Digitalvision | Getty Images While rent payments do not traditionally affect your credit, a growing number of so-called rent-reporting services are trying to change that. These services track users’ rent-paying habits and report them to one or more of the big credit bureaus — Equifax, Experian and TransUnion — with the aim
Santa Clara Valley Transportation Authority staff came under fire from their own auditor general for misleading communications and a “breach of transparency” regarding cost overruns and delays on the $12.2 billion San Jose extension of the Bay Area Rapid Transit District. The project would extend BART, a commuter railway, through downtown San Jose into Santa
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Until this week, the UK economy looked increasingly set for a smooth “soft landing”, with inflation dropping sharply and early signs of growth picking up. But data releases in the past few days have added
Municipal bonds were slightly weaker Friday ahead of an $8.4 billion new-issue calendar and the last full week of January. U.S. Treasuries were mixed on the day while equities saw another session of gains as markets continue to digest the unlikelihood of any Federal Reserve rate cuts in the first quarter. Triple-A yields rose two
Chancellor Jeremy Hunt is set to be handed a multibillion-pound boost by official forecasters next week, paving the way for a package of pre-election tax cuts. Leading economists predict that lower UK borrowing costs could give Hunt significantly more fiscal headroom in his March 6 Budget, paving the way for income tax cuts or further
A delivery man delivers packages in a Los Angeles neighborhood on January 17, 2024. Frederic J. Brown | AFP | Getty Images Sales of previously owned homes fell 1% in December compared with November to a seasonally adjusted annualized rate of 3.78 million units, according to the National Association of Realtors. Sales were 6.2% lower
A trial over Missouri’s first-of-their-kind ESG investment rules will go ahead after a federal judge this month rejected the state’s motion to dismiss. The Securities Industry and Financial Markets Association sued the Show Me State last August over a pair of four-month-old anti-environmental, social and governance securities rules. The measures require advisors and broker-dealers to
Stay informed with free updates Simply sign up to the Private equity myFT Digest — delivered directly to your inbox. Private equity executives are predicting a sharp increase in takeover activity as buyout firms that have held on to investments in the hope of higher prices finally begin to capitulate. There has been a marked
Municipals were weaker Thursday amid another busy new-issue day while municipal bond mutual funds reported inflows. U.S. Treasuries yields rose and equities were up near the close. Muni yields rose up to eight basis points, depending on the scale, while UST yields rose up to six basis points at 30 years. The two-year muni-to-Treasury ratio
Prospective home buyers visit a home for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Homeownership feels increasingly out of reach for younger generations of Americans, who are squeezed by student debt and childcare costs in an era of slower economic growth. The pressures come as President Joe
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK chancellor Jeremy Hunt has signalled he wants to cut taxes further in the coming months and left open the possibility of holding two Budgets ahead of this year’s general election. Hunt said on Thursday
HilltopSecurities hired six former UBS professionals as part of a wider plan to expand its public finance footprint. “We remain committed to adding professionals nationwide to our public finance business who offer a full product solution set to their clients,” said Brad Winges, president of HilltopSecurities. “This is the first group of many hires that
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US has launched strikes on Houthi targets in Yemen for the fourth time as the Iran-backed rebel group continues to target commercial ships transiting the Red Sea. US Central Command forces on Wednesday conducted
Lake Erie College, a small private school in Ohio, entered into a forbearance agreement with bondholders after the school didn’t meet certain covenants it agreed to as part of a debt sale. The Painesville, Ohio-based institution, which has just over 700 undergraduate students, is the latest small college to see its financial struggles extend into
A home is constructed at a housing development on June 21, 2023 in Lemont, Illinois. Scott Olson | Getty Images Homebuilder sentiment improved in January, jumping 7 points to 44 on the National Association of Home Builders monthly index. Anything below 50 is still considered negative, but the index has now moved 10 points higher
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