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Tuesday, March 20, 2018
U.S. Treasury Secretary Jack Lew (L) and Puerto Rico's Governor Alejandro Garcia Padilla (2nd R) listen to kindergarden teacher Gloria Rivera during their visit to the elementary school Eleonor Roosevelt in San Juan, Puerto Rico, May 9, 2016. REUTERS/Alvin Baez

Puerto Rico Still Seen Defaulting On Debt Even With Rescue Law

Investors in Puerto Rico‘s debt-burdened economy still face risks of default on some of the island’s $70 billion in debt even after the U.S. Congress on Wednesday created a powerful federal oversight board to manage credit restructurings. U.S. President Barack Obama says he will quickly sign the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) before the U.S. territory […]

June 30, 2016
A protester holding a Puerto Rico's flag takes part in a march to improve healthcare benefits in San Juan, Puerto Rico, November 5, 2015. REUTERS/Alvin Baez

House Panel Delivers Puerto Rico Crisis Bill, Debt Looms

U.S. lawmakers on Thursday began coalescing around revised bipartisan legislation to help address Puerto Rico’s unpayable debt burden that now threatens a full-blown humanitarian crisis. Released close to midnight on Thursday, the House Natural Resources Committee’s revised bill includes a strong oversight board to direct how and when the island pays its bills and leaves […]

May 19, 2016

U.S. Stocks Little Changed; Apple Up 0.2 Percent

New York (AFP) — Wall Street stocks were little changed in early trade Wednesday with Apple posting modest gains after unveiling a spate of new products, including a mobile-payment system and a smartwatch. About 40 minutes into trade, the Dow Jones Industrial Average dipped 3.01 points (0.02 percent) to 17,010.86. The broad-based S&P 500 shed […]

September 10, 2014