Business News Puerto Rico

  • WASHINGTON, Oct 15- U.S. Supreme Court justices on Tuesday signaled reluctance to overturn appointments to Puerto Rico's federally created financial oversight board in a dispute that could disrupt the panel's restructuring of about $120 billion of the bankrupt U.S. territory's debt. The legal challenge to the board's composition was brought in 2017 by...

  • WASHINGTON, Oct 15- U.S. Supreme Court justices on Tuesday signaled reluctance to overturn appointments to Puerto Rico's federally created financial oversight board in a dispute that could disrupt the panel's restructuring of about $120 billion of the bankrupt U.S. territory's debt. The legal challenge to the board's composition was brought in 2017 by...

  • SUPREME COURT JUSTICES APPEAR RELUCTANT TO OVERTURN PUERTO RICO FINANCIAL OVERSIGHT BOARD APPOINTMENTS.

  • AUSTIN/ SAN FRANCISCO, Oct 10- Texas officials managing a sprawling investigation of the advertising practices at Alphabet Inc's Google have begun receiving data from the search and advertising giant after two previous probes bogged down in extended document fights. The Texas attorney general's office said that as of Thursday, it had received some data from...

  • WASHINGTON, Oct 7- The U.S. Supreme Court on Monday declined to take up a dispute over the assets of Puerto Rico's largest public sector pension fund even as the U.S. The justices left in place a January 2019 lower court ruling that found that bondholders who own nearly $3 billion of debt issued by Puerto Rico's Employees Retirement System have a legitimate claim...

  • WASHINGTON, Oct 7- The U.S. Supreme Court on Monday declined to take up a dispute over the assets of Puerto Rico's largest public sector pension fund even as the U.S. The justices left in place a January 2019 lower court ruling that found that bondholders who own nearly $3 billion of debt issued by Puerto Rico's Employees Retirement System have a legitimate claim...

  • SAN JUAN, Sept 27- Puerto Rico would reduce a major portion of its debt by more than 60% under a long-awaited restructuring proposal the bankrupt U.S. commonwealth's federally created financial oversight board filed in court on Friday. The so-called plan of adjustment covering $35 billion of bonds and claims and more than $50 billion of pension liabilities...

  • SAN JUAN, Sept 27- Puerto Rico would reduce a major portion of its debt by more than 60% under a long-awaited restructuring proposal the bankrupt U.S. commonwealth's federally created financial oversight board filed in court on Friday. The so-called plan of adjustment covering $35 billion of bonds and claims and more than $50 billion of pension liabilities...

  • SAN FRANCISCO/ WASHINGTON, Sept 26- The Texas attorney general's office has hired three consultants for a multi-state probe it is leading into Alphabet Inc's Google, including an economist who worked with some of the firm's major rivals and a lawyer who is a Microsoft veteran. The three consultants are Roger Alford, until this year a deputy assistant attorney...

  • WASHINGTON, Sept 26- The number of Americans filing applications for unemployment benefits rose moderately last week, pointing to sustained labor market strength. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 213,000 for the week ended Sept. 21, the Labor Department said on Thursday. The Labor Department said only...

  • Tropical storm Karen hit the northeastern Caribbean with heavy rains, causing flooding in Puerto Rico and nearby islands. The storm hit Puerto Rico hours after the island was shaken by a 6.0 magnitude earthquake.

  • WASHINGTON, Sept 19- The U.S. House of Representatives approved a stopgap government funding bill on Thursday that would avoid a government shutdown by maintaining current spending levels through Nov. 21. By a 301-123 vote, lawmakers sent the measure, known as a continuing resolution, on to the Senate. To take effect, it must be approved by both chambers of Congress...

  • WASHINGTON, Sept 19- The U.S. House of Representatives approved a stopgap government funding bill on Thursday that would avoid a government shutdown by maintaining current spending levels through Nov. 21. To take effect, it must be approved by both chambers of Congress and signed into law by President Donald Trump. The continuing resolution was hammered out...

  • WASHINGTON, Sept 19- The U.S. House of Representatives prepared to vote on Thursday on a stopgap government funding bill that would avoid a government shutdown on Oct. 1 by maintaining current spending levels until Nov. 21. Final passage would require approval from both houses of Congress and the signature of Trump. The new measure was hammered out during...

  • Sept 16- A U.S. House of Representatives committee will take up a proposal next month to amend a 2016 federal law that created a financial oversight board for Puerto Rico with changes aimed at the board's funding and spending priorities in the island's budget, a congressional staff member said on Monday. Congressman Raul Grijalva, a Democrat who chairs the House...

  • A person carries a Puerto Rican national flag during a protest against the government's austerity measures as Puerto Rico faces a deadline on Monday to restructure its $70 billion debt load or open itself up to lawsuits from creditors, in San Juan, Puerto Rico May 1, 2017.

    A long-awaited plan to restructure Puerto Rico's core government debt will finally be filed in court later this month, an attorney for the bankrupt U.S. commonwealth's federally created financial oversight board told a federal judge on Wednesday.

  • SAN JUAN, Sept 11- A long-awaited plan to restructure Puerto Rico's core government debt will finally be filed in court later this month, an attorney for the bankrupt U.S. commonwealth's federally created financial oversight board told a federal judge on Wednesday. Martin Bienenstock said the latest delay was due to political turmoil on the island that led to...

  • WASHINGTON, Sept 9- Attorneys general from 48 U.S. states, the District of Columbia and Puerto Rico formally opened an antitrust probe on Monday into Alphabet's Google, in a sign of growing government scrutiny of U.S. technology giants. California and Alabama declined to be part of the probe. A separate group of eight state attorneys general, led by New York, joined...

  • WASHINGTON, Sept 9- Attorneys general from 48 U.S. states, the District of Columbia and Puerto Rico have opened an antitrust probe into big tech companies that focuses on Alphabet's Google, Texas Attorney General Ken Paxton formally announced on Monday. California and Alabama are not part of the investigation. Utah Attorney General Sean Reyes said the probe was "...

  • WASHINGTON, Sept 9- Attorneys general from 48 U.S. states, the District of Columbia and Puerto Rico have opened an antitrust probe into big tech companies that focuses on Alphabet's Google, Texas Attorney General Ken Paxton formally announced on Monday. Separately, a second group of state attorneys general, led by New York, is focusing on Facebook Inc, it was...