California Governor Jerry Brown, running for an unprecedented fourth term, says that if he can curb his fellow Democrats’ spending dreams, the most-indebted state may win its highest credit rating in five years.
Standard & Poor’s and a Royal Bank of Scotland Group Plc unit are liable for investment losses on securities bought by Australian towns, an appeal court judge ruled today, upholding a 2012 verdict they misled investors.
Australia will cut spending on foreign aid, welfare and the public service and impose a tax on the highest paid as Prime Minister Tony Abbott uses his first budget to downsize government and set a path to surplus.
AT&T Inc., joining the ranks of U.S. TV, Internet and wireless providers racing to consolidate, is in advanced talks to acquire DirecTV for about $50 billion, according to people familiar with the matter.
On a recent Monday, restructuring banker Elizabeth Abrams was on a conference call negotiating for hedge fund creditors ahead of the $50 billion bankruptcy of Energy Future Holdings Corp. She happened to be sitting in a hotel conference room in San Juan, Puerto Rico -- where she’s advising the government on addressing $73 billion in debt.