Puerto Rico News
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Puerto Rico Governor Alejandro Garcia Padilla is considering raising taxes on oil products and increasing license fees on luxury cars to support $2.2 billion of planned borrowing this year that will help shore up the island’s highway authority.
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Billionaire John Paulson will offer a new fund designed to lower U.S. taxes for investors through insurer Philadelphia Financial Group Inc., said two people with direct knowledge of the matter.
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Following is the text of the weekly U.S. Drought Monitor as released by the National Drought Mitigation Center in Lincoln, Nebraska:
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Puerto Rico’s Government Development Bank, with $4.6 billion of municipal debt, is being left out of a rally that has driven the U.S. commonwealth’s bonds to their best annual start since 2010.
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Following is the text of the weekly U.S. Drought Monitor as released by the National Drought Mitigation Center in Lincoln, Nebraska:
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On a conference call with investors last month, billionaire John Paulson boasted that one of his biggest hedge funds would have been up 15 percent this year -- if only he hadn’t owned gold stocks.
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SweetWater Brewing Co. Chief Executive Officer Freddy Bensch gets plenty of solicitations from potential acquirers.
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Puerto Rico debt has soared from worst to first in the $3.7 trillion municipal market as Governor Alejandro Garcia Padilla proposes steps to raise revenue after seven years of budget deficits.
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Greenbriar Capital Corp., a Canadian real-estate and energy developer, formed a joint venture with Alterra Power Corp. to develop 100 megawatts of solar projects in Puerto Rico.
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Puerto Rico, which has a credit rating lower than any U.S. state, sold $335 million of short- term debt backed by sales-tax revenue this week, the first borrowing by a commonwealth issuer since November, data compiled by Bloomberg show.
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