Senate readies to debate 11.5% tax bill Monday

After much debate and opposition, the House of Representatives approved Thursday ...

Moody's downgrades GDB notes, GOs; $54.8B of debt affected

Moody's Investors Service has downgraded the Government Development Bank for ...

Puerto Rico gov't files $9.8B budget with $674M in spending cuts

The Puerto Rico government submitted to the Legislature a $9.8 billion budget pr ...

FSOC releases annual report; Puerto Rico a concern for municipal debt market

The U.S. Financial Stability Oversight Council (FSOC) released its 2015 annual r ...

Tobacco firms get partial win over claims on smoking effects
Issued: May 22, 2015
The largest tobacco companies in the U.S. must inform consumers that cigare ...

Wal-Mart's push on animal welfare hailed as game changer
Issued: May 22, 2015
Wal-Mart's push to get its suppliers to give farm animals fewer antibio ...

New Popeyes in Bayamón breaks local sales record
Issued: May 22, 2015
Popeyes Louisiana Kitchen announced the opening of its ninth store in Puert ...

US, Cuba close round of talks with no embassy announcement
Issued: May 22, 2015
The United States and Cuba still have no agreement on re-establishing embas ...

Prasa publishes accountability report
Issued: May 22, 2015
The executive president of the Puerto Rico Aqueduct and Sewer Authority (Prasa), Alberto Lázaro Castro, released on Friday the public utilit ...

Art world descends on Cuba for a month amid surging interest
Issued: May 22, 2015
HAVANA — A surge in interest in all things Cuban is extending to paintings and sculpture, with U.S. art collectors and dealers descending on ...

USDA seeks applications to expand economic development in rural communities
Issued: May 22, 2015
The under secretary for Rural Development of the U.S. Department of Agriculture (USDA), Lisa Mensah, announced Friday that the age ...

House applies sales tax to all food items
Issued: May 22, 2015
The economic impact for the food industry of the tax bill approved Thursday by the House could be larger than expected. CARIBBEAN BUSINESS h ...

San Sebastián mayor flies flag outside Capitol to protest higher IVU
Issued: May 22, 2015
Following a municipal resolution, the mayor of San Sebastán, Javier Jiménez Pérez, raised a giant flag of his municipality in front of the S ...

UBS found liable for Puerto Rico branch practices
Issued: May 21, 2015
On May 14, a Financial Industry Regulatory Authority (Finra) arbitration panel in San Juan ordered UBS to pay an investor $200,000 for losse ...

The latest things to know about the Takata air bag recall
Issued: May 21, 2015
Out of concern for the safety of drivers, the U.S. government may step in to manage a giant recall of air bags made by Takata Corp.

5 indicted for bid-rigging, fraud conspiracies at school bus auction
Issued: May 21, 2015
WASHINGTON—A federal grand jury in San Juan returned an indictment against five individuals for participating in bid rigging and fraud consp ...

STR: 374 hotel rooms in pipeline for Puerto Rico
Issued: May 21, 2015
Puerto Rico currently accounts for 374 out of 29,846 rooms in the Caribbean/Mexico hotel development pipeline, according to the April 2015 S ...

GDB’s Acosta: Puerto Rico isn’t looking for an escape hatch
Issued: May 21, 2015
In a letter published Tuesday by the Wall Street Journal, Government Development Bank (GDB) President Melba Acosta argued that Puerto Rico’s ...

more Local news
US stocks dip in quiet trading ahead of Memorial Day weekend
Issued: May 22, 2015
NEW YORK — Stocks are closing moderately lower in a relatively quiet day ahead of a holiday weekend.

Yellen: 1st rate hike likely by year end if economy improves
Issued: May 22, 2015
WASHINGTON — Federal Reserve Chair Janet Yellen said Friday she expects to begin raising interest rates later this year — if the job market ...

Federal data: As oil production soars, so do pipeline leaks
Issued: May 22, 2015
The oil pipeline leak that fouled a stretch of California coastline this week reflects a troubling trend in the nation's infrastructure: ...

Clinton got now-classified Benghazi info on private email
Issued: May 22, 2015
WASHINGTON — Former Secretary of State Hillary Rodham Clinton received information on her private email server about the deadly attack on U.

Aviation agency unveils messaging system to reduce delays
Issued: May 22, 2015
NEWARK, N.J. — A system that replaces verbal communication between pilots and air traffic controllers with computerized messages was unveile ...

Tuk-tuk taxi maker aims to make inroads in US
Issued: May 22, 2015
DENVER — They're ubiquitous in Asia, swarming the bustling streets of Bangkok, New Delhi and Beijing.

US consumer prices up a slight 0.1 percent in April
Issued: May 22, 2015
WASHINGTON — U.S. consumer prices were up slightly in April, but overall gains were held back by another decline in energy costs that offset ...

Drought-ridden California faces decision on new water cuts
Issued: May 22, 2015
FRESNO, Calif. — Farmers along the river delta at the heart of California agriculture expected to get an answer Friday on their surprise off ...

Finding California oil spill's cause could take months
Issued: May 22, 2015
GOLETA, Calif. — The operator of a broken oil pipeline that fouled a California shoreline says it could be weeks or even months before inves ...

Archives show Hillary Clinton OK'd tax breaks for nonprofits
Issued: May 22, 2015
LITTLE ROCK, Ark. — As first lady in the final year of the Clinton administration, Hillary Rodham Clinton endorsed a White House plan to giv ...

Obama's Senate allies hope to endorse his trade bill Friday
Issued: May 22, 2015
WASHINGTON — Supporters of President Barack Obama's trade agenda hope to fend off hostile Senate amendments Friday and send a major trad ...

Suspect in killings of wealthy DC family arrested
Issued: May 22, 2015
WASHINGTON — Authorities have arrested an ex-convict who was accused in the killings of a wealthy Washington family and their housekeeper.

Obama's trade bill narrowly clears a key Senate hurdle
Issued: May 21, 2015
WASHINGTON — In a triumph for President Barack Obama, sweeping legislation to strengthen the administration's hand in global trade talks ...

GOP senators advance bill to ease rules on smaller banks
Issued: May 21, 2015
WASHINGTON — Republican senators advanced legislation Thursday that would ease rules on smaller banks and other requirements of the landmark ...

more National news
Colombia rebels cancel unilateral cease-fire after army raid
Issued: May 22, 2015
BOGOTA, Colombia — Colombia's largest rebel group on Friday called off a unilateral cease-fire in reaction to a military raid on a guerr ...

$100 billion Saudi city to be ready by 2035
Issued: May 22, 2015
SOUTHERN SHUNEH, Jordan — A $100 billion city-from-scratch in Saudi Arabia is to be completed by 2035 and will serve as the main logistics a ...

French court rejects Uber's challenge to legal restrictions
Issued: May 22, 2015
PARIS — France's highest court has rejected ride-sharing company Uber's bid to have much of a recent law banning its services declar ...

Toyota promises to help find cause of Takata airbag defects
Issued: May 22, 2015
TOKYO — Toyota President Akio Toyoda vowed to help get to the bottom of the problems with Takata air bags, the recalls for which have balloo ...

ECB tells governments: Don't wait to fix Europe's economy
Issued: May 22, 2015
FRANKFURT, Germany — European Central Bank head Mario Draghi says governments that share the euro currency shouldn't wait for better tim ...

South Korea court frees Korean Air "nut rage" executive
Issued: May 22, 2015
SEOUL, South Korea — A South Korean court Friday suspended the prison term of the former Korean Air executive whose onboard "nut rage&q ...

Merkel warns 'whole lot left' to do on Greece bailout talks
Issued: May 22, 2015
RIGA, Latvia — With Greece facing a potential default in two weeks, German Chancellor Angela Merkel on Friday sought to add urgency to the t ...

China's mega-tours draw attention abroad, critique at home
Issued: May 22, 2015
BEIJING — All-expenses-paid trips to reward top salespeople aren't unusual, but direct marketing companies that are the Chinese versions ...

IS captures Iraqi town, purges opponents in Syria's Palmyra
Issued: May 22, 2015
BAGHDAD — Islamic State militants have seized another town in Iraq's western Anbar province less than a week after capturing the provinc ...

France cracks down on food waste by supermarkets
Issued: May 22, 2015
PARIS — France's parliament has voted to forbid big supermarkets from destroying unsold food, encouraging them to donate to charities or ...

China stocks hit 7-year high, Europe muted ahead of Fed
Issued: May 22, 2015
HONG KONG — Chinese stocks hit a seven-year high as investors pinned their hopes on further economic stimulus while most other world markets ...

Merkel, Hollande and Tsipras talk about Greek bailout woes
Issued: May 21, 2015
RIGA, Latvia — French President Francois Hollande said he will huddle with his German and Greek counterparts Thursday to pave the way for a ...

Ex-Haiti prime minister submits papers to run for president
Issued: May 21, 2015
PORT-AU-PRINCE, Haiti — Former Prime Minister Laurent Lamothe submitted papers to run for president shortly before the election office's ...

ECB committed to see stimulus program through, account shows
Issued: May 21, 2015
FRANKFURT, Germany — Accounts of the European Central Bank's last meeting show it is committed to completing its 1.1 trillion-euro ($1.2 ...

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