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South Korea, Japan in fresh spat over intelligence deal

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 »

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Top Puerto Rico officials resign in group chat scandal that…

(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 »

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Former U.S. congressman Sestak joins Democratic presidential race

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 »

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Column: Illinois budget debate raises key questions on taxing…

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 »

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New Jersey averts government shutdown with last-minute budget

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 »

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South Dakota e-commerce sale tax fight reaches U.S. Supreme Court

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 »

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After walkouts, U.S. teachers eye elections for school funding gains

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 »

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Marijuana taxes and a surplus expected to boost California budget

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 »

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Senate shelves disaster aid bill until next month

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 »

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U.S. House approves $81 billion for disaster aid

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 »

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Illinois returns to muni market with $750 million bond sale

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 »

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House panels seek documents on Puerto Rico utility deal

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 »

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U.S. judge orders Illinois to boost disabled care

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 »

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Illinois fights potential hike in disabled care funding

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 »

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Connecticut lawmakers approve labor pact with pension concessions

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 »

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Big financial woes linger in Illinois` new budget

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 »

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Illinois House enacts FY 2018 budget, ending record impasse

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 »

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Seven U.S. states still without budgets a week into new fiscal year

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 »

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Illinois risks rating cut to junk even with budget: Moody`s

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 »

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Illinois House to take up governor`s budget, tax vetoes

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 »

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Maine, New Jersey end state government shutdowns

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 »

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Illinois governor announces veto of $5 billion tax hike

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 House passes $5 billion tax package

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 »

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Puerto Rico votes in favor of U.S. statehood amid low turnout

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 »

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Illinois gets June 20 deadline to boost Medicaid funding

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 »

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Difficult legal path forward for Trump in sanctuary cities case

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 »

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Trump slams federal court ruling on funding for `sanctuary cities`

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 »

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Puerto Rico seen sliding toward bankruptcy as deadline nears

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 »

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California pension fund is latest to scrap some active managers

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 »

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Despite risks, public pensions put faith in long-term returns

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 »

American Paul Beatty`s race satire wins Man Booker Prize

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 »

Ohio latest to bar Wells Fargo from state business

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 »

Zika spreads to Miami Beach, U.S. expands travel warning

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 »

SEC charges 71 muni issuers for misleading investors

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 »

California lawmaker to float zero emissions vehicle bill

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 »