The agreement concerns investors who hold bonds issued by Cofina, slashing the debt by $17.5 billion.
Sens. Elizabeth Warren and Bernie Sanders introduce a bill that would essentially wipe out tens of billions of dollars of Puerto Rico’s $73 billion in outstanding debt.
Mondelez has voluntarily begun recalling some Ritz Cracker sandwiches and Ritz Bits products over concern that they may include an ingredient tainted with Salmonella.
A tropical storm that formed off the North Carolina coast early on Sunday was forecast to become a hurricane on Monday, forecasters said.
With security lines at all-time highs, the Transportation Security Administration has to recruit more airport security officers.
This “rage giving”, a viral Facebook campaign is fueling a which by Sunday had topped $20 million in donations for immigrant families swept up in the border crisis. USAToday reports.
The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a further tightening in labor market conditions.
New applications for U.S. unemployment benefits increased more than expected last week, but remained below a level consistent with a healthy labor market.
U.S. lawmakers closed a long-standing legal loophole that helped spark a financial crisis in Puerto Rico that has decimated the savings of thousands of residents
New applications for U.S. jobless benefits increased more than expected last week.
Two big creditor groups have agreed to a deal that creates a trust to receive the island's sales tax receipts and pay them out to the bondholders
Gov. Ricardo Rossello of Puerto Rico says he needs new money to rebuild the hurricane-damaged "1950s energy grid."
Puerto Rico Gov. Richardo Rossello talks about Puerto Rico's recovery after Hurricane Maria and reveals the island's fiscal plan to address its debt crisis.
The oversight board had told the governor that changes to Puerto Rico's proposed fiscal plan are required.
After years of economic decline, Puerto Rico now has a once in a generation opportunity to enact real reforms, says Anne O. Krueger.
CNBC’s Leslie Picker reports that Puerto Rico’s power authority was hacked, but that customer data was not affected.
CNBC's Seema Mody reports on whether cryptocurrency and blockchain technology can help Puerto Rico in its recovery from a devastating hurricane.
Blockchain companies are now looking at Puerto Rico as a viable hub for the rapidly growing crypto industry.
Bitcoin investors and entrepreneurs are betting on Puerto Rico as the next hot place to do business.
Accuracy and transparency have been lacking from the very beginning of this process, says economist Arthur Laffer.