Liz Truss, the Tory leadership frontrunner, is a strong communicator, gutsy and could prove to be an economic “nightmare” for Labour, according to some of the opposition party’s leading strategists. Allies of Labour leader Sir Keir Starmer have also been impressed by the way the foreign secretary has grown into the contest to succeed outgoing
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The states are flush with cash thanks to trillions of dollars of federal rescue funds, leading Fitch Ratings analysts to predict an explosion of infrastructure projects with a focus on water and sewer undertakings. Fitch analysts discussed their recently released, “U.S. States Budgets Balanced in 2023” report during a Wednesday webinar. The discussion revealed fifty
Maybe Rupert Murdoch and AT&T knew what they were doing all along. In recent years both have curtailed their Hollywood ambitions. The pair sold entertainment assets to buyers keen to do battle in the content streaming wars. So far this year, Fox and AT&T shares have held up versus declining market indices. Other media titans
Since Covid-19 took its first English life in March 2020, the country has recorded around 120,000 more deaths than would have been expected over the same months of three typical, non-pandemic years. This is a huge number but one that, for the first year of the pandemic, was relatively straightforward to explain. A novel and
Veteran public finance attorney Renee M. Friedman stood out as a talented advocate for her clients who relished taking on tough transactions with a knack for boiling them down to plain English and always carved out time for social justice causes close to her heart, friends and colleagues said. Friedman, a former partner who most
The financing stars are aligning for a Montana-based aerial firefighting firm that has grown quickly to meet demand driven by massive wildfires that have plagued Western states for the past several years. A total of $160 million of taxable municipal bonds for Bridger Aerospace priced in July and August. The deal, carrying third-party verification as
Bank of England governor Andrew Bailey has sent a strong warning to the UK’s next prime minister not to interfere politically in the regulation of the City of London, saying it would hit the country’s competitiveness. The two Tory leadership contenders, foreign secretary Liz Truss and former chancellor Rishi Sunak, want to allow ministers to
When Manju Ganeriwala looks back at her time as Virginia state treasurer, she can be proud of steering the state’s finances and fiscal health through two economic downturns and a pandemic. Ganeriwala recently retired after more than a decade as state treasurer. Ganeriwala was treasurer of the commonwealth from January 2009 until June when she
European electricity prices have soared to new records as the prolonged heatwave disrupted power markets that were already under strain from Russia’s cuts to the continent’s gas supplies. German baseload power for delivery next year, the benchmark European price, was up more than 5 per cent on Thursday at a record €455 per megawatt hour.
In one of the largest funding awards yet under the bipartisan infrastructure package, the Biden administration Thursday is announcing $2.2 billion for 166 projects across the country. The money is part of the Rebuilding American Infrastructure with Sustainability and Equity, or RAISE program, a longtime popular grant program that’s seen its annual funding double under
Consumers have soured on stuff. For nearly two years, the pandemic supercharged online purchases of everything from home office equipment and furniture to cooking gear and gardening tools. The surging demand for goods exacerbated supply chain woes and sent prices skyrocketing, even as lockdowns strangled spending on travel and entertainment. But now western economies are
Germany’s chancellor, Olaf Scholz, said he backed the idea of a new gas pipeline linking Portugal and Spain to central Europe via France, saying it would vastly improve Europe’s energy security. Speaking on Thursday at his first summer press conference, Scholz said he had discussed the idea with the leaders of Spain, Portugal and France
U.S. Sen. Elizabeth Warren rebuked Federal Reserve Chair Jerome Powell for withholding information on trading by central bank officials during the pandemic and said an investigation into the matter by the Fed’s inspector general was “troubling.” The IG report “raises new concerns about the reasons why you continue to withhold key information about Fed officials’
A few years ago, we were told that self-driving cars were just around the corner and would soon be pulling up at the kerbside. Then, when the fiendish complexities of developing and deploying the technology became clearer, we discovered they were stuck in heavy traffic many blocks away. But it would be wrong to conclude
The writer is a senior fellow at the Carnegie Endowment for International Peace and a former Russian diplomat The Russian Embassy in the UK sparked outrage and fierce criticism recently when it tweeted that prisoners of war from Ukraine’s Azov battalion, who had defended the city of Mariupol right up until the bitter end, deserved
Soaring oil use for power generation in Europe and the Middle East will boost crude consumption for the rest of the year, the International Energy Agency said on Thursday, as it increased its global demand forecast despite signs of a wider economic slowdown. Paris-based IEA, which is primarily funded by OECD members, said record European
Asian shares rallied and European stocks ticked higher after data showed that inflation in the US had steadied, boosting investors’ hopes that the Federal Reserve will soften its approach to tackling rising prices. In Europe, the Stoxx 600 gained 0.4 per cent at the open, while the FTSE 100 slipped 0.2 per cent and Germany’s
US petrol prices have dropped below $4 a gallon for the first time since Russia’s invasion of Ukraine, as fears of a looming recession put the brakes on soaring fuel markets, tempering rampant inflation. The average price of a gallon of gasoline tumbled to $3.99 on Thursday, according to motoring group AAA. That leaves the
Perched on the side of the bridge connecting the island of Palm Beach to the Florida mainland, a day after Donald Trump’s nearby Mar-a-Lago resort was searched by the FBI, Mary Ann Robinson held a White Claw alcoholic drink in one hand and railed against federal law enforcement. “When they raided our president[’s home], I
The thick plumes of black smoke that swirled over an air base in Crimea sent scores of sun-seekers running from the Russia-occupied peninsula, clogging traffic on the highway leading to the only bridge to their homeland. Ukrainian officials retweeted the videos of panicked Russian tourists racing for the exits. One assessed that nine Russian fighter
A top Federal Reserve official has warned it is far too early for the US central bank to “declare victory” in its fight against elevated inflation after new data showed a reprieve in consumer price pressures. In an interview with the Financial Times, Mary Daly, president of the San Francisco branch of the Fed, did