American Vanadium Corp., owner of the only known U.S. deposit of the metal, agreed to install an energy-storage system designed to reduce power costs for the agency that operates New York’s subways and buses.
Richard Ravitch, who helped New York weather its fiscal crisis in the 1970s, was named by the judge overseeing Detroit’s record municipal bankruptcy as a court adviser to help evaluate that city’s debt-cutting plan.
The Metropolitan Transportation Authority and the union representing New York City’s subway and bus workers agreed on a tentative contract that would raise wages by 8 percent over five years without fare increases.
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.
Hudson Yards, the $20 billion Related Cos. development on Manhattan’s far west side, is taking a key step forward as work begins on a platform over the area’s rail depot designed to support three skyscrapers.