BOSTON (Reuters) – A New Jersey municipal money-market fund run by BNY Mellon Corp needed an injection of $89,000 after the market value of the fund came under pressure, the bank disclosed on Tuesday in a U.S. regulatory filing. BNY Mellon said it provided cap... More »
SEOUL/TOKYO (Reuters) – South Korea and Japan traded fresh barbs on Monday, just days after agreeing to salvage an important intelligence-sharing pact, highlighting the fragile ties between the former wartime foes and allies of the United States. Officials fro... More »
(This story has been corrected to fix a typo in final paragraph.) By Luis Valentin Ortiz SAN JUAN (Reuters) – Two of Puerto Rico’s top government officials resigned on Saturday following the publication of a bombshell group chat in which Governor Ricardo Rosse... More »
WASHINGTON (Reuters) – Former U.S. Representative Joe Sestak said on Sunday that he would seek the Democratic nomination for president, becoming the party’s 25th candidate vying to challenge Republican President Donald Trump in the 2020 election. In announcing... More »
CHICAGO (Reuters) – Greetings from Illinois, a state that never tops the rankings of places to retire. We have one of the great American cities, but also polar vortexes and an enormous state budget deficit – and now there is renewed talk about taxing retiremen... More »
NEW YORK (Reuters) – New Jersey Governor Phil Murphy struck a last-minute budget deal on Saturday, ending threats of a government shutdown that had raged for weeks as he struggled to reach an accord with members of his own party. It was the state’s first budge... More »
WASHINGTON (Reuters) – A high-stakes showdown at the U.S. Supreme Court on Tuesday will determine whether states can force out-of-state online retailers to collect sales taxes in a fight between South Dakota and e-commerce businesses. South Dakota is asking th... More »
OKLAHOMA CITY/TULSA, Okla. (Reuters) – High school physics teacher Craig Hoxie filed to run for Oklahoma’s House of Representatives on Friday, a day after the end of a two-week teacher walkout that had pressed lawmakers for school funding. “A week ago, I would... More »
FILE PHOTO: California Governor Jerry Brown attends the International Forum on Electric Vehicle Pilot Cities and Industrial Development in Beijing, China June 6, 2017. REUTERS/Thomas Peter/File Photo SACRAMENTO, Calif. (Reuters) – California Governor Jerry Bro... More »
WASHINGTON (Reuters) – Legislation to provide $81 billion in new disaster aid for U.S. states, Puerto Rico and the U.S. Virgin Islands was put on hold by the Senate on Thursday amid attacks from both Republicans and Democrats. The Republican-controlled House o... More »
WASHINGTON (Reuters) – The U.S. House of Representatives on Thursday approved an $81 billion bill to help widespread recovery efforts from hurricanes and wildfires this year. By a vote of 251-169, the House passed the measure to help Puerto Rico, the U.S. Virg... More »
FILE PHOTO – Scott Minerd, Global Chief Investment Officer at Guggenheim Partners speaks at the 2014 Milken Institute Global Conference in Beverly Hills, California April 28, 2014. REUTERS/Lucy Nicholson NEW YORK (Reuters) – Top executives at asset manager and... More »
CHICAGO (Reuters) – Illinois, which sold $6 billion of bonds last month to raise money to pay overdue bills, will be back in the U.S. municipal market next week with another $750 million of debt. The deal tops the $12.2 billion of bonds and notes states, citie... More »
A U.S. federal judge on Monday rejected a request to install a former military officer to oversee Puerto Rico's beleaguered electric utility, PREPA, a victory for Governor Ricardo Rossello, whose government opposed the appointment. More »
The California Public Employees’ Retirement System is considering more than doubling its investment in municipal bonds and other fixed-income assets while lowering volatility, according to proposals set for discussion at a workshop on Monday. More »
A U.S. congressional committee on Thursday set a Nov. 2 deadline for the Puerto Rico Electric Power Authority (PREPA) to provide information related to its $300 million contract with a small Montana firm to repair damage to the utility's infrastructure caused ... More »
Charles Schumer, the top Democrat in the U.S. Senate, called on President Donald Trump on Sunday to name a single official to oversee and coordinate relief efforts in hurricane-ravaged Puerto Rico. More »
Puerto Ricans still living largely in darkness 12 days after Hurricane Maria leveled their island reveled in small victories on Sunday in what promises to be a months-long slog back to some semblance of normal life. More »
Longtime municipal finance maven Marilyn Cohen unloaded several million dollars worth of Houston-area utility bonds on Tuesday even though she did not see a high risk to the debt - because a few of her clients were getting nervous. More »
A U.S. judge on Friday ruled that Illinois was not providing sufficient resources for the care of developmentally disabled residents and ordered the state to come up with a plan to restore services. More »
Illinois fought on Friday against a potential court order it contends could cost the state, which just ended an unprecedented budget impasse, as much as an additional $1 billion annually to care for developmentally disabled people. More »
Connecticut lawmakers narrowly approved a new labor contract with public employees on Monday that is expected to save the state at least $1.2 billion – largely through pension concessions – and could clear the way for lawmakers to agree on a past due budget.... More »
FILE PHOTO: An aerial view shows the skyline and lakefront of Chicago, Illinois, August 14, 2014. REUTERS/Jim Young Illinois’ first budget after two years is filled with partial outlines to address its debt-ridden pension system and unpaid bill backlog — signs... More »
FILE PHOTO: Bruce Rauner speaks to the media in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Illinois ended its historic budget drought on Thursday after the House of Representatives enacted the state’s first complete spending plan since 2015 ... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Illinois’ first full-year budget since 2015 became law on Thu... More »
FILE PHOTO: A general view of the joint session of the General Assembly in the House Chambers of the Illinois State Capitol in Springfield, Illinois February 1, 2012. REUTERS/Sarah Conard/File Photo Seven U.S. states are still without budgets, nearly a week in... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo Even if Illino... More »
FILE PHOTO: Illinois Gov-elect Bruce Rauner speaks to the media after a meeting with U.S. President Barack Obama and other Governor-elects from seven U.S. states at the White House in Washington December 5, 2014. REUTERS/Larry Downing/File Photo The fate of a ... More »
FILE PHOTO — Maine Governor Paul LePage speaks at the 23rd Annual Energy Trade & Technology Conference in Boston, Massachusetts, November 13, 2015. REUTERS/Gretchen Ertl/File Photo New Jersey and Maine ended partial government shutdowns just in time for the Fo... More »
Illinois Governor Bruce Rauner announced on Tuesday his veto of a $5 billion income tax rate hike that was the lynchpin of a newly passed bipartisan budget package designed to end the state’s record-setting fiscal impasse, he announced via social media. More »
Illinois’ Democratic-controlled House of Representatives passed big, permanent income-tax rate increases on Sunday with the help of some Republican votes as the cash-strapped state scrambled to piece together a budget and revenue plan to stave off a bond ratin... More »
FILE PHOTO: The flags of the U.S. and Puerto Rico fly outside the Capitol building in San Juan, Puerto Rico May 4, 2017. REUTERS/ Alvin Baez The economically struggling U.S. island territory of Puerto Rico voted overwhelmingly on Sunday in favor of becoming th... More »
Illinois must increase payments to Medicaid providers despite an ongoing budget impasse, after a U.S. District Court judge on Wednesday ruled the minimal payments made by the state do not comply with federal consent decrees. More »
The California State Teachers’ Retirement System board voted unanimously on Wednesday to divest from non-U.S. thermal coal, affecting a very small fraction of the public pension fund’s portfolio. More »
The Los Angeles Unified School District, California’s largest school district, plans to sell nearly $1.1 billion of general obligation refunding bonds in the biggest U.S. municipal bond offering next week. More »
U.S. President Donald Trump speaks after signing the Antiquities Executive Order at the Department of the Interior in Washington, DC, U.S. April 26, 2017. REUTERS/Kevin Lamarque Even if President Donald Trump wins an appeal of a court ruling blocking his execu... More »
People participate in a protest against President Donald Trump’s travel ban, in New York City, U.S. January 29, 2017. REUTERS/Stephanie Keith President Donald Trump on Wednesday attacked a federal judge’s ruling that blocked his executive order seeking to with... More »
Students of the University of Puerto Rico protest as a meeting of the Financial Oversight and Management Board for Puerto Rico is taking place at the Convention Center in San Juan, Puerto Rico March 31, 2017. Picture taken March 31, 2017. REUTERS/Alvin Baez Ba... More »
A California pension fund has fired Franklin Templeton Investments, JPMorgan Chase & Co and Pacific Investment Management Co from some portfolio-management responsibilities in a shakeup that puts more of its assets in lower-fee, index-tracking investments, the... More »
Legislation to raise taxes in Republican-controlled Kansas to help balance the budget was defeated on Wednesday after the state Senate failed to override the governor’s veto. More »
As yields on risk-free Treasuries fell, private pension plans lowered their investment return assumptions but public plans did not. Instead, public pensions invested in risky assets. REUTERS/Graphics U.S. public pension funds are cutting their expectations for... More »
New Jersey Governor Chris Christie departs after meeting with U.S. President-elect Donald Trump at Trump National Golf Club in Bedminster, New Jersey, U.S., November 20, 2016. REUTERS/Mike Segar New Jersey Governor Chris Christie on Tuesday said he would not s... More »
Advertising covers the abandoned structure of an unfinished condominium in the Condado tourist district of San Juan, Puerto Rico August 31, 2013. REUTERS/Alvin Baez/File Photo The federal board overseeing Puerto Rico’s financial restructuring on Friday set a t... More »
Author Paul Beatty poses for photographs during a photo-call in London for the six Man Booker shortlisted fiction authors, on the eve of the prize giving in London, Britain October 24, 2016. REUTERS/Peter Nicholls Paul Beatty was on Tuesday named as the first ... More »
U.S. municipal market supply will likely be among the highest in a decade when an estimated $16.7 billion of bonds and notes goes up for sale next week, lead by deals from New Jersey and Alaska. More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake – RTSPJOV The state of Ohio on Friday joined a growing list of municipalities to suspend business relationships with Wells Fargo & Co over a scandal involvin... More »
New Jersey Governor Chris Christie poses for a photo with convention goers at the Republican National Convention in Cleveland, Ohio, U.S. July 19, 2016. REUTERS/Mario Anzuoni New Jersey Governor Christie said on Friday the state would begin taxing income earne... More »
Aedes aegypti mosquitoes are seen inside Oxitec laboratory in Campinas, Brazil, February 2, 2016. REUTERS/Paulo Whitaker/File Photo Federal health officials on Friday warned pregnant women not to travel to trendy Miami Beach after Florida confirmed that the mo... More »
A sign for the Securities and Exchange Commission (SEC) is pictured in the foyer of the Fort Worth Regional Office in Fort Worth, Texas June 28, 2012. REUTERS/Mike Stone (Story corrects paragraph 4 to show a Minnesota county municipal finance official did not ... More »
By Rory Carroll | SAN FRANCISCO SAN FRANCISCO A California lawmaker next week will introduce a bill requiring 15 percent of all vehicles sold in the state to be emissions-free by 2025, her spokeswoman said on Friday. Assemblywoman Autumn Burke says the legisla... More »
