Puerto Rico bankruptcy Judge Laura Taylor Swain set a Feb. 10 deadline for parties to arrive at the terms of a Puerto Rico central government debt deal. In a separate action, she rejected a motion for a court-appointed investigation of mediation participants engaging in insider trading of Puerto Rico bonds. Puerto Rico bankruptcy Judge Laura
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The COVID-19 pandemic led to a shutdown of all non-essential businesses and forced many people to stay at home. Although conditions have eased, the pandemic is not over and restrictions remain in place. Given the uncertainty of the path forward and the unpredictable next steps, not to mention other factors, including an election, that make
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South Carolina-owned utility Santee Cooper reported that its revenue and refunding bond deal was oversubscribed by more than five times. The $638.2 million of bonds priced Wednesday, drawing $3.5 billion in orders from investors. South Carolina-owned Santee Cooper saved $134 million on Wednesday’s refunding, in a deal that is part of the utility’s strategy to
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European countries are poised to tighten coronavirus crisis restrictions as soaring infection rates stoke alarm across the continent, sending stocks to their lowest level since May. Angela Merkel, Germany’s chancellor, was due to hold talks on Wednesday with premiers of the country’s 16 states about proposed new curbs, while France’s president Emmanuel Macron will give
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Fitch Ratings cut the outlook to negative from stable Wednesday on Chicago’s BBB-minus general obligation bond rating. The action increases the risk that the city will be saddled with a second speculative-grade bond rating. Moody’s Investors Service cut the city to junk five years ago. Fitch Ratings assigned a negative outlook to Chicago bonds Wednesday.Bloomberg
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CNBC’s Jim Cramer said he sees positives for investors after steep market declines Wednesday as Wall Street grew further concerned about the coronavirus pandemic. “I recognize the carnage, but I do think the carnage is reversible,” Cramer said Wednesday on “Closing Bell,” after the Dow Jones Industrial Average gave up 943 points, or 3.4%, in
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The Transamerica Pyramid looms over the San Francisco skyline. (Photo by Carol M. Highsmith/Buyenlarge/Getty Images) Getty Images San Francisco’s iconic Transamerica Pyramid changed hands for the first time on Wednesday, after Deutsche Finance America and developer Michael Shvo teamed up to purchase the tower and complex for $650 million, the largest commercial transaction in the
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Michigan released Detroit’s public school system from active fiscal oversight, a reward for fiscal gains that followed the state’s 2016 bailout that brightensits future case for joining the ranks of municipal borrowers. The Detroit Financial Review Commission in a vote this week granted a waiver to Detroit Public Schools and Detroit Public Schools Community District,
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Masa Son instructed WeWork’s president to delay a $3 billion shareholder payout from SoftBank, a new court filing shows. Getty Images In the months after WeWork aborted its IPO plans and ousted its CEO Adam Neumann, many of its employees and shareholders were expecting a $3 billion payout from WeWork’s largest investor — a final
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The worst-case revenue scenario California prepared for amid the COVID-19 pandemic has not arrived, at least not yet, according to the state’s legislative analyst. Revenue receipts for the first quarter of the fiscal year came in $8.6 billion higher than anticipated when the state’s revised May budget was released, Gabriel Petek said Tuesday in an
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President hopeful Joe Biden plans to invest $20 billion in rural broadband infrastructure. Bloomberg News The coronavirus pandemic could serve as a catalyst for broadband infrastructure as many people work from home to stop the spread of the illness. During The Bond Buyer’s California Public Finance Conference Wednesday afternoon, infrastructure experts said the effects of
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An employee of Tupperware Brands Corporation is at work on the production line at the group’s plant in Joue-les-Tours, centre France, on the day of its 40th anniversary. AFP PHOTO / JEAN-FRANCOIS MONIER (Photo credit should read JEAN-FRANCOIS MONIER/AFP/Getty Images) Jean-Francois Monier | AFP | Getty Images Check out the companies making headlines in midday
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Gilt-edged North Carolina continues its financing spree this month, bringing its third and largest infrastructure deal to investors looking for safety in high-grade bonds. The state will price $700 million of tax-exempt, limited obligation bonds by negotiation with BofA Securities as the book-runner on Thursday. The $73.5 million, 5.8-mile extension of the C.F. Harvey Parkway
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Property data and analytics firm CoreLogic has received multiple potential takeover bids that value the company at north of $80 a share, sources tell CNBC’s David Faber. The multiple parties interested in pursuing a deal with CoreLogic include private equity firms, Faber reported citing sources familiar with the talks. The company has already signed a
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