Saudi Arabia’s economy minister rejected recent reports that the kingdom’s $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans. “All projects are moving full steam ahead,” Faisal Al Ibrahim told CNBC’s Dan Murphy on Monday at the World Economic Forum’s special meeting in Riyadh.
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As Florida’s Brightline passenger train floated its first investment-grade and insured bonds in a high-profile transaction last week, a key part of the deal for insurer Assured Guaranty was the control it would have if the issuer runs into debt payment trouble. Assured wraps $1.13 billion, or 51%, of the $2.219 billion of senior bonds
A US crackdown on banks financing trade in goods for Vladimir Putin’s invasion of Ukraine has made it much more difficult to move money in and out of Russia, according to senior western officials and Russian financiers. Moscow’s trade volumes with key partners such as Turkey and China have slumped in the first quarter of
The Puerto Rico Oversight Board warned the government it will sue to stop a recently passed law that would reduce Puerto Rico Electric Power Authority revenues for the next 26 years by preventing a change in the net metering policy. In a letter to Puerto Rico Gov. Pedro Pierluisi, Senate President José Dalmau Santiago, and
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. As Sadiq Khan waited to deliver his victory speech on Saturday after clinching a record third term as London’s mayor, he shifted uneasily from one foot to the other. The veteran Labour politician had come
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC OMAHA, Neb. — Warren Buffett revealed that he dumped Berkshire Hathaway’s entire Paramount stake at a loss. “I was 100% responsible for the Paramount decision,” Buffett said at Berkshire’s annual shareholder meeting. “It was 100% my decision,
In this article BRK.A Follow your favorite stocksCREATE FREE ACCOUNT OMAHA, Neb. — Warren Buffett said that Berkshire Hathaway is looking into an investment in Canada. “We do not feel uncomfortable in any shape or form putting our money into Canada,” he told an arena full of investors Saturday. “In fact, we’re actually looking at
An aerial view shows a subdivision that has replaced the once rural landscape in Hawthorn Woods, Illinois. Scott Olson | Getty Images When mortgage rates rise, consumers look for any way to lower their monthly payments, and that often leads them to adjustable-rate mortgages. These loans offer lower interest rates than their fixed-rate counterparts but
Hawaii Gov. Josh Green failed to convince lawmakers to consider legislation that would have allowed struggling Hawaii Electric Co. to issue bonds backed by a rate increase. Senate Bill 2922, introduced by Senate Commerce and Consumer Protection Chair Jarrett Keohokalole, would have allowed HECO to issue up to $2.5 billion in low-interest bonds, if it
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak was facing renewed Conservative unrest on Saturday night after his party suffered crushing defeats in a series of mayoral contests including London, and Labour claimed victory in its flagship West Midlands. Some Tory
Oklahoma’s list of investment banks determined to be “boycotting” the fossil fuel industry expanded with the addition of Barclays, making it ineligible for state and local government contracts, State Treasurer Todd Russ announced Friday. Barclays joins Bank of America, JP Morgan, and Wells Fargo, which were placed on the list last year under the state’s
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Squishmallows of Waren Buffett and Charlie Munger display at the Berkshire Hathaway Annual Shareholders Meeting at Omaha, Nevada on May 3, 2024. Sarah Min | CNBC OMAHA, Nebraska — Warren Buffett’s annual shopping event, the pregame to Berkshire Hathaway‘s annual meeting, is wowing shareholders flocking to Omaha this weekend. With over 20,000 square feet of
Here’s the median price to rent a 1-bedroom across 10 cities in Asia. Fraser Hall | The Image Bank | Getty Images Renting a place is a big financial decision, especially when choosing to live in a major city where price tags are particularly hefty. The general rule of thumb is to spend no more
All markets rallied on the weaker jobs data, leading municipals to see yields fall up to eight basis points on what typically is a quiet Friday session, following a better-performing U.S. Treasury market. Equities closed in the black. The softer-than-expected April employment report led to some analysts believing this could put rate cuts back on
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Reform UK is boosting Labour’s prospects in its battle with the Conservatives, but narrow gains for the right-wing party in local elections where it stood in few seats have raised doubts over its wider electoral
Federal funding programs that rely on public private partnerships and championed by the Department of Transportation are pushing municipalities into hard comparisons of P3’s to traditional bond offerings. “The amount of time that I spent on bond issuance was about twenty minutes spent signing the paperwork and maybe ten minutes with the CFO telling me
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Rishi Sunak’s Conservatives were on the rack on Friday after the party was trounced by Labour in the Blackpool South parliamentary by-election and faced huge losses in local elections across England and Wales. Sir Keir
In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft Chief Executive Officer (CEO) Satya Narayana Nadella speaks at a live Microsoft event in the Manhattan borough of New York City, October 26, 2016. Lucas Jackson | Reuters Microsoft has signed a deal with Brookfield Asset Management to invest more than $10 billion to
In this article Follow your favorite stocksCREATE FREE ACCOUNT Ryersonclark | E+ | Getty Images Making your home hurricane resistant can be a significant financial undertaking. But it’s one that has the potential to pay off as such storms become more intense amid climate change. In 2024, the national average cost to upgrade an entire
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