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  • *Stock markets close at 1 p.m. ET. Dec 24- Wall Street was mixed on Thursday as a drop in energy stocks kept a lid on holiday cheer in a shortened Christmas Eve trading session. Equity markets will close at 1 p.m. EST on Thursday, ahead of the Christmas Day holiday on Friday.

  • NEW YORK, Dec 24- Puerto Rico needs debt restructuring authority under U.S. bankruptcy law to address what the Obama Administration has previously called an "escalating crisis," U.S. U.S. House of Representatives Speaker, Republican Paul Ryan, has instructed committees to work with Puerto Rico's government to come up with a solution to the island's financial...

  • Dec 24- U.S. stocks indexes were little changed on Thursday in a shortened trading session on Christmas eve, dragged down by energy stocks. Equity markets will close at 1 p.m. EST on Thursday, ahead of the Christmas Day holiday on Friday. I think we're going to trade in slow motion for most of the day, "said Peter Cardillo, chief market economist at First Standard...

  • SAN JUAN/ NEW YORK, Dec 18- Puerto Rico's debt-laden power utility, PREPA, has a tentative agreement with its bond insurers on a restructuring of its debt, according to two sources familiar with negotiations, but the deal is not official and still needs approval by PREPA's board. A spokesman for PREPA and a spokeswoman for Puerto Rico's government development bank...

  • Dec 18- Puerto Rico Electric Power Authority, the island's debt-laden power utility, reached a tentative deal with its bond insurers and certain bondholders to restructure debt, Bloomberg reported on Friday. PREPA's monoline insurers will provide an equity component that will offer about $450 million in the event of a default, Bloomberg reported citing two...

  • Dec 18- Puerto Rico Electric Power Authority, the island's debt-laden power utility, said it had extended to Friday a restructuring support agreement to allow a continuation of talks with its monoline bond insurers and supporting creditors. PREPA, facing more than $8 billion in debt, had said last Tuesday that it had extended the deadline for the restructuring...

  • SAN JUAN, Dec 1- Puerto Rico's power authority, PREPA, reached a tentative debt restructuring deal with bond insurers, two sources familiar with the matter said on Tuesday, but two Puerto Rican government sources said later there was no agreement. But on Tuesday night, a source close to PREPA and another close to Puerto Rico's Government Development Bank, both with...

  • Dec 1- Puerto Rico's power authority PREPA has reached a tentative debt restructuring deal with bond insurers including Assured Guaranty and MBIA Inc's National Public Finance Guarantee, according to two sources familiar with the matter. The deal still needs the approval of the PREPA board, the sources said, but has been signed by representatives for all...

  • A pedestrian walks past a building painted with graffiti in San Juan last June.

    Puerto Rico's governor unveiled an extraordinary fiscal measure in order to avoid defaulting on its debt.

  • Money managers, value investors and analysts are eyeing Dec. 1, when $355 million of notes issued by the Government Development Bank come due.

  • People at the beach in San Juan, Puerto Rico.

    The way each of the debt deadlines played out may leave holders of Puerto Rico's paper with more questions than much-needed answers.

  • A Puerto Rican flag flies from a building in San Juan, Puerto Rico.

    Puerto Rico faces three major debt-related deadlines next week, all with potentially severe monetary consequences.

  • Traders work on the floor of the New York Stock Exchange.

    As the heart of earnings season nears, traders expect that stocks will generate outsized moves.

  • A Puerto Rican flag flies from a building in San Juan, Puerto Rico.

    Several days after Puerto Rico's governor declared his island's debts "not payable," a spate of borrowers there indicated just the opposite.

  • Capitol building in San Juan

    Puerto Rico, for the moment, avoids falling into further financial crisis as concerns linger that it cannot pay its obligations.

  • A Puerto Rican flag flies from a building in San Juan, Puerto Rico.

    With Puerto Rico saying it can't pay its $72 billion debt, bond investors worry whether bond insurers can cover a looming default.

  • San Juan Cemetery Puerto Rico

    Puerto Rico isn't turning out to be the golden investment opportunity hedge funds and other big money investors once thought it was.

  • A woman walks past clothes for sale and signs reading "Closing down sale" in Arecibo, Puerto Rico, June 29, 2015.

    CNBC's Jim Cramer explains why the Puerto Rico situation is more important than Greece or China.

  • Puerto Rico Gov. Alejandro Garcia Padilla delivers his state of the Commonwealth address at the Capitol building in San Juan on April 30, 2015.

    All eyes are on Greece's impending default, but Societe Generale's Larry McDonald says it's another crisis that threatens the financial market.

  • A statue of U.S. President Dwight Eisenhower on the President's Walk, in front of Puerto Rico's Capitol building, in San Juan.

    As Puerto Rico's dire fiscal and economic situation becomes more acute, it could see its population decreasing even further.