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Private equity giant KKR is buying Philadelphia-based broker-dealer Janney Montgomery Scott LLC. Janney, which dates to 1832, operates as a full-service wealth management, investment banking, and asset management firm. KKR announced Tuesday that it will acquire the firm from The Penn Mutual Life Insurance Company, its owner since 1982. After the deal closes, Janney, which
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Karl Knight was appointed chief executive officer of the U.S. Virgin Islands Water and Power Authority Thursday, effective July 29. The last permanent CEO, Andrew Smith, resigned on June 1 after two and a half years in the position. Since then, Ashley Bryan, who had been the head of electrical operations, has served as interim
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Standard Digital Weekend Print + Standard Digital wasnow $39 per month Essential digital access to quality FT journalism on any device. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics
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California Gov. Gavin Newsom issued an executive order instructing state agencies to adopt policies to clear homeless camps on state properties and asked local governments to use the “substantial funding” provided by the state to take similar action. The executive order issued Thursday comes a month after the U.S. Supreme Court’s sweeping Grants Pass decision
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Municipals were little changed ahead of a smaller $6.6 billion new-issue calendar. U.S. Treasuries were firmer and equities rallied. The two-year muni-to-Treasury ratio Friday was at 65%, the three-year at 66%, the five-year at 67%, the 10-year at 67% and the 30-year at 83%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read. ICE
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S&P Global Ratings revised the outlook on Arizona’s AA issuer rating to positive from stable, citing the state’s “robust” economic growth, as well as its financial management. The move points to an expectation of a one-in-three chance of a rating upgrade over the next two years, according to the rating agency.  Arizona Gov. Katie Hobbs
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Economic development, infrastructure, and housing rank as the primary priorities for mayors and their constituents across the nation, according to the 2024 National League of Cities State of the Cities Report. This year’s report reveals how municipalities are faring in the post-COVID-19 environment, and how mayors are addressing their constituents’ concerns in the nation’s current
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In this article MTCH Follow your favorite stocksCREATE FREE ACCOUNT The Match dating application is displayed on an Apple iPhone. Andrew Harrer | Bloomberg | Getty Images Company: Match Group (MTCH) Business: Match Group provides dating products worldwide. The company’s portfolio of brands includes Tinder, Match, The League, Meetic, OkCupid, Hinge and PlentyOfFish. Match’s services
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Municipals were mixed Thursday, while U.S. Treasuries were firmer five years and out and equities ended mixed after data showed the economy grew at a hotter-than-expected pace in the second quarter. “News that U.S. economic growth accelerated faster than expected in the second quarter has sent market participants on a roller-coaster ride,” said José Torres,
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Enjoy complimentary access to top ideas and insights — selected by our editors. Competitive underwriting rose in 1H, increasing to $41.467 billion in 1,668 deals from $34.945 billion in 1,569 deals, according to LSEG data. The market share of competitive underwriting also grew to 17.5% from 14.7%. The top 5 competitive underwriters remained in the
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Standard Digital Weekend Print + Standard Digital wasnow 89 € per month Billed Quarterly at 265 €. Complete digital access plus the FT newspaper delivered Monday-Saturday. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set
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