The commonwealth's Government Development Bank says the transit system can't make payroll without a tax increase.» Read More
Puerto Rican government representatives held a presentation for investors, as the commonwealth tries to calm them about its debt load.
Puerto Rico has $70 billion in debt. CNBC's Michelle Caruso-Cabrera reports Puerto Rico officials are making a presentation to assuage investor concerns.
If the US defaults on its debt, there's nothing much you can do to hedge against it, says Kyle Bass of Hayman Capital Management.
Kyle Bass of Hayman Capital Management does not believe the country will default but says there's nothing you can do to protect yourself if it does.
Puerto Rico has a lot of debt, considering its size, reports CNBC's Michelle Caruso-Cabrera. The country has over $70 billion in debt.
How can Puerto Rico fix its debt problem? Distressed investors are definitely sniffing around, explains Alexandra Lebenthal of Lebenthal & Co., weighs in.
Puerto Rico has over $70 billion in debt. What is the impact to muni-bonds? Alexandra Lebenthal of Lebenthal & Co., weighs in.
The island country has more than 600 muni bonds outstanding and within the next year $2.8 billion is due, reports CNBC's Michele Caruso-Cabrera.
Puerto Rico's weak economy and heavy debt load have made its bonds a risky bet for most investors. Barron's recent cover story singled out Oppenheimer's aggressive $6.5 billion bet on the country. Troy Willis, OppenheimerFunds, and John Lofreddo, MainStay High Yield Municipal Bond Fund, debate the move.
Multitaskers will be sad to learn the hands-free Whopper holder is not real. Burger King says the viral video is no more than an advertising campaign.
MEXICO CITY, Nov 6- Carlos Slim's America Movil, the top cellphone company in Latin America, will not pursue an additional seat on Telekom Austria's board for now, Chief Executive Daniel Hajj said on Tuesday.
SAN JUAN, Puerto Rico-- Construction has started in Puerto Rico on what will soon be the Caribbean's largest solar energy park. The $265 million project is being built in southern Puerto Rico and is expected to generate enough electricity to power more than 13,000 homes in the U.S. territory.
Nov 2- Penske Automotive Group Inc, the No. 2 U.S. car dealership group, posted a stronger-than-expected quarterly profit on Friday, but shares fell more than 2 percent as gross margins and vehicle pricing disappointed.
BERLIN- German Chancellor Angela Merkel meets Irish Prime Minister Enda Kenny. TOKYO- Norwegian Prime Minister Jens Stoltenberg visits Japan and meets with Prime Minister Yoshihiko Noda. **BAMAKO/ DAKAR- German Foreign Minister Guido Westerwelle visits Mali and Senegal.
NASSAU, Bahamas-- Hurricane Sandy spun away from the Bahamas late Friday after causing 43 deaths across the Caribbean, churning northward toward the U.S. East Coast, where it threatens to join with winter weather fronts to create a super storm.
NASSAU, Bahamas-- Hurricane Sandy spun away from the Bahamas late Friday after causing 40 deaths across the Caribbean, churning northward toward the U.S. East Coast, where it threatens to join with winter weather fronts to create a super storm.
NASSAU, Bahamas-- Hurricane Sandy rolled out of the Bahamas on Friday after causing 40 deaths across the Caribbean, churning toward the U.S. East Coast, where it threatens to join forces with winter weather fronts to create a devastating super storm.
NASSAU, Bahamas-- Hurricane Sandy raged through the Bahamas on Friday after leaving 39 people dead across the Caribbean, following a path that could see it blend with a winter storm to hit the U.S. East Coast with a super-storm next week.
BIRMINGHAM, Ala.-- Hospital operator HealthSouth Corp. reported a smaller third-quarter profit Thursday as expenses increased, though company results still beat Wall Street expectations. HealthSouth said revenue increased 7.9 percent to $537 million as the company treated 4.2 percent more patients in the quarter.
SAN JUAN, Puerto Rico-- Popular Inc., which operates Banco Popular and other banks in Puerto Rico and the U.S., said Friday its third-quarter profit jumped 71 percent amid continued stable revenue and declining bad loans. Popular reported net income of $47.2 million, or 45 cents per share, in the July-September quarter.