Barely 26 years old, Zhang Xi has studied at an elite American university, worked for an investment bank in Hong Kong and an oil company in Beijing and now may launch an Internet startup with two friends.
Vincent Viola, whose high-frequency trading firm plans to raise millions of dollars in an initial public offering next month, is seeking tax dollars to help cover the bills for the Florida Panthers hockey team he bought six months ago.
Bankrupt Detroit’s agreement with bondholders to pay 74 percent of general-obligation unlimited tax debt is a credit positive because it elevates it to secured status, according to Moody’s Investors Service.
Cincinnati plans to sell $112 million of general-obligation bonds to fund road construction and other projects as Ohio’s third-largest city negotiates to stabilize a pension system that contributed to a credit-rating downgrade.
The price of protecting municipal bonds against default is dropping by an unprecedented amount, signaling that investors are separating Puerto Rico’s economic woes from a broader fiscal rebound by states and localities.