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  • NEW YORK, June 29- To restructure government debt Puerto Rico will need to reach a negotiated settlement with creditors or modify its constitution, a long and complicated undertaking that may not succeed. "If they go to any holders of debt and say do you want to swap this for that, that doesn't necessarily imply any changes," said Charles Blitzer, who advises funds on...

  • NEW YORK, June 29- Puerto Rico is "insolvent" and will soon run out of cash, according to a newly appointed adviser to the commonwealth who was the judge who oversaw the historic bankruptcy of Detroit. The U.S. territory's future hinges on gaining eligibility for debt restructuring under the U.S. bankruptcy code, a process it does not currently have access to, said...

  • NEW YORK, June 29- Puerto Rico's governor, following a damning report by former IMF staffers about the U.S. Governor Alejandro Garcia Padilla said on Monday that over the next week, leaders would host meetings and briefings and tell citizens the steps the Commonwealth is taking to address Puerto Rico's problems. The report, made available late Sunday, said Puerto...

  • NEW YORK, June 29- Puerto Rico's governor on Monday said "difficult decisions" must be made after a damning report by former IMF staffers proposed debt restructuring and tough austerity measures for the crisis-hit island, which is struggling with $73 billion of debt. Puerto Rico's benchmark general obligation bonds that carry an 8 percent coupon and mature in...

  • "Everything that touches Puerto Rico, the debt, the monolines, the banks, will all sell off pretty aggressively," said Daniel Hanson, analyst at Height Securities. Assured Guaranty shares fell 19.8 percent while MBIA Inc fell 6.7 percent. Assured Guaranty said it insured over $6 billion in par value of Puerto Rico bonds as of the end of March.

  • June 28- Puerto Rico needs to restructure its debts and should make reforms including cutting the number of teachers and raising property taxes, a report by former International Monetary Fund economists on the Caribbean island's financial woes said. The report, which was obtained by Reuters, gave a damning review of how Puerto Rico has arrived at its current...

  • June 28- Struggling Caribbean island Puerto Rico needs to restructure its debts to bridge financing gaps in coming years, in what could be a precedent-setting move, according to a copy of a report by former IMF economists posted on websites of the island's media. Puerto Rico's governor's office and a spokesman for the Government Development Bank, which...

  • June 28- Puerto Rico is set to release a key financial stability report by former IMF economists on Monday, officials said on Sunday, in a crucial week for the island as bond deadlines come due and investor concerns increase about the possibility for debt restructurings and a limitation on government services. Puerto Rico is struggling with a $73 billion debt...

  • REFILE-Some say back to the drachma for a Greek reboot Friday, 26 Jun 2015 | 12:05 PM ET

    LONDON, June 26- Mainstream economic thinking may hold that Greece should stay in the euro zone, but there are those who argue that abandoning the single currency will give the cash-strapped and debt-laden country just the boost it needs. "If Greece were to leave the euro, it is presented with an opportunity. Greece and its creditors are locked in talks to secure a...

  • Some say back to the drachma for a Greek reboot Friday, 26 Jun 2015 | 8:23 AM ET

    LONDON, June 26- Mainstream economic thinking may hold that Greece should stay in the euro zone, but there are those who argue that abandoning the single currency will give the cash-strapped and debt-laden country just the boost it needs. "If Greece were to leave the euro, it is presented with an opportunity. Greece and its creditors are locked in talks to secure a...

  • That message easily could get lost in the controversy following a recent New York Times opinion piece, "Why I Defaulted on My Student Loans," in which writer Lee Siegel not only defended his decision to ignore his education debt, but urged others to join him as a way of changing the economics of paying for college. We now have some indication that debt strikes may work:...

  • June 18- News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting resources to digital media. Dow Jones, which has about 5,000 employees worldwide, will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor-in-chief...

  • June 18- News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting of resources into digital media, the Wall Street Journal reported. Dow Jones will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor in chief of Dow...

  • NEW YORK, June 18- Richard Zabel, the top deputy for Manhattan U.S. Attorney Preet Bharara, is leaving the Justice Department to become general counsel at the hedge fund Elliott Management, according to an internal Elliott memo reviewed by Reuters on Thursday. A graduate of Princeton University and Harvard Law School, Zabel previously spent eight years as a...

  • NEW YORK, June 17- Don't call Chris Christie rich. "The divide between the governing elite and the voters has never been so big," said David Carney, a New Hampshire- based Republican strategist. John Weaver, a former advisor to 2008 Republican nominee John McCain, said candidates understand that.

  • New York Times blocks staff from viewing homepage Monday, 15 Jun 2015 | 5:14 PM ET
    The New York Times building in New York City.

    The New York Times is taking mobile to the next level.

  • TEL AVIV, June 15- Israeli start-up Mobli Media Inc is taking on Internet giants Google, Facebook and Yahoo with an innovative online search tool to find the latest photos and videos across social media, the company said on Monday. Mobli, which is backed by Mexican billionaire Carlos Slim and big-name U.S. celebrity investors Leonardo DiCaprio, Serena Williams,...

  • June 11- New York law enforcement officials have written to eBay Inc and PayPal Inc this week, saying the companies' revised user policies "raise issues" under consumer protection laws, the New York Times reported. Ebay's updated user agreement is scheduled to take effect on Monday and PayPal's will become effective on July 1. Representatives at the New York...

  • Apple Music cautiously embraced by record industry Wednesday, 10 Jun 2015 | 4:08 PM ET

    SAN FRANCISCO, June 10- A decade ago, Apple Inc helped revitalize a music industry hit hard by online piracy with its iTunes Store. Officials in the recording industry are pleased to see Apple throwing its deep pockets and strong brand behind paid streaming, which generally provides more revenue for labels than the free services, which are supported by ads, said...

  • June 10- Attorneys general in New York and Connecticut are investigating whether the deals that Apple Inc has struck with music companies for its new streaming service violate antitrust laws, the New York Times reported. The Times quoted, Matt Mittenthal, a spokesman for New York Attorney General Eric Schneiderman, as saying the state was looking into Apple's...