Business News Puerto Rico

  • SAN JUAN, Feb 19- The government of bankrupt Puerto Rico told a federal judge on Wednesday that its opposition to a plan announced earlier this month to restructure more than $85 billion of its debt should put the brakes on a confirmation process. The scheduling motion followed the board's Feb. 9 announcement that it had reached a deal with an expanded group of...

  • Puerto Rico commenced a form of municipal bankruptcy in May 2017 to restructure about $120 billion of debt and liabilities. Meanwhile, oversight board executive director Natalie Jaresko defended the deal announced on Sunday with an expanded group of investors who own about $8 billion of bonds as a "significant win" that would reduce the $35 billion to less...

  • Puerto Rico commenced a form of municipal bankruptcy in May 2017 to restructure about $120 billion of debt and liabilities. Meanwhile, oversight board executive director Natalie Jaresko defended the deal announced on Sunday with an expanded group of investors who own about $8 billion of bonds as a "significant win" that would reduce the $35 billion to less...

  • SAN JUAN, Feb 9- Puerto Rico would shed about $24 billion of debt and move closer to exiting bankruptcy under an agreement with bondholders announced on Sunday by the U.S. commonwealth's federally created financial oversight board. The deal would cut $35 billion of bonds and claims to about $11 billion as it increases the ranks of general obligation and Public...

  • SAN JUAN, Feb 9- Puerto Rico would shed about $24 billion of debt and move closer to exiting bankruptcy under an agreement with bondholders announced on Sunday by the U.S. commonwealth's federally created financial oversight board. The deal would cut $35 billion of bonds and claims to about $11 billion as it increases the ranks of general obligation and Public...

  • *FINANCIAL OVERSIGHT AND MANAGEMENT BOARD FOR PUERTO RICO SAYS REACHES NEW,' MORE FAVORABLE' AGREEMENT TO RESTRUCTURE $35 BILLION OF LIABILITIES. *REACHED AGREEMENT WITH CERTAIN BONDHOLDERS OF PUERTO RICO ON FRAMEWORK FOR PLAN OF ADJUSTMENT TO RESOLVE $35 BILLION OF DEBT& NON-DEBT CLAIMS. *NEW AGREEMENT REDUCES $35 BILLION OF DEBT, OTHER LIABILITIES BY 70%, OR...

  • The deal cuts $35 billion of bonds and claims to about $11 billion and increases the ranks of general obligation and Public Buildings Authority bondholders that signed onto a plan to restructure core government debt and more than $50 billion in pension obligations that the board filed in U.S. District Court in September.

  • PUERTO RICO OVERSIGHT BOARD SAYS DEAL REACHED WITH BONDHOLDERS THAT WOULD CUT BANKRUPT ISLAND'S DEBT TO $11 BLN FROM $35 BLN.

  • Feb 6- Puerto Rico general obligation bonds traded higher on Thursday in the wake of a report of a tentative deal involving debt that the U.S. commonwealth's federally created financial oversight board has been trying to void. More than $6 billion of bonds Puerto Rico issued in 2012 and 2014 had been targeted by the board for allegedly being issued in violation...

  • Jan 26- U.S. state attorneys general will meet Justice Department attorneys next week to share information on their investigations into Alphabet Inc's Google, two sources familiar with the matter told Reuters on Sunday. m o d= s e a r c h r e s u l t s& p a g e= 1& p o s= 3 about the meeting and said it could eventually lead the Justice Department and state attorneys general to...

  • Jan 26- U.S. state attorneys general will meet Justice Department attorneys next week to share information on their investigations into Alphabet Inc's Google, two sources familiar with the matter told Reuters on Sunday. m o d= s e a r c h r e s u l t s& p a g e= 1& p o s= 3 about the meeting and said it could eventually lead the Justice Department and Google to join forces.

  • Jan 26- U.S. state attorneys general will meet with Justice Department attorneys next week to share information on their investigations into Alphabet Inc's Google, that could eventually lead them to join forces, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Attorneys general from 48 U.S. states, the District of Columbia and...

  • WASHINGTON, Jan 23- The number of Americans filing for unemployment benefits increased less than expected last week, suggesting the labor market continues to tighten even as job growth is slowing. "Employers are not cutting positions outside of the normal churn of the labor market and workers are incredibly confident in their job prospects, and not taking the...

  • DAVOS, Switzerland, Jan 21- Often seen as the preserve of old, rich men, this year's World Economic Forum has thrust around a dozen teenage "change-makers" to the top of its agenda, adding fresh voices, energy and fashion to proceedings. The first panel of the four-day Alpine gathering made clear the shift from 81- year-old founder Klaus Schwab, with four young...

  • Jan 15- Puerto Rico will be allowed access to $8.2 billion in delayed disaster-aid funding by the U.S. Department of Housing and Urban Development, the island's non-voting member of the U.S. House of Representatives Jenniffer Gonzalez said in a statement. President Donald Trump threatened to divert disaster-recovery funds from Puerto Rico to help pay for a...

  • Jan 14- A series of earthquakes that recently hit Puerto Rico poses a setback for the bankrupt U.S. territory in terms of its economic recovery and ability to retain residents and businesses, Moody's Investors Service said on Tuesday. Governor Wanda Vazquez estimated damages at $110 million and has requested a major disaster declaration from President...

  • Jan 13- The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal bond market over payments on special revenue bonds that grew out of Puerto Rico's ongoing bankruptcy. The justices left in place rulings last year by the Boston- based 1st U.S. Circuit Court of Appeals, which determined that payments on certain...

  • Jan 13- The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal bond market over payments on special revenue bonds that grew out of Puerto Rico's ongoing bankruptcy. The justices left in place lower court rulings dismissing lawsuits by bond insurance companies Assured Guaranty Corporation and Ambac...

  • Jan 13- The U.S. Supreme Court on Monday declined to take up a dispute that has roiled the $3.8 trillion U.S. municipal bond market over payments on special revenue bonds that grew out of Puerto Rico's ongoing bankruptcy. The justices left in place lower court rulings dismissing lawsuits by bond insurance companies Assured Guaranty Corporation and Ambac...

  • UberChopper helicopter is seen in Gdynia, Poland.

    U.S. stock futures are little changed following a late-day comeback from early losses spurred by renewed Mideast tensions.