Rhode Island may have its credit grade cut by Moody’s Investors Service after lawmakers debated defaulting on $75 million in debt that brought a company started by former Boston Red Sox pitcher Curt Schilling to Providence.
Russia rejected a proposal to pin some of the responsibility for ensuring economic expansion on the central bank and may use a weaker ruble to salvage growth and replenish the budget, Finance Minister Anton Siluanov said.
Mondelez International Inc., the world’s second-biggest coffee maker, will start selling Nespresso-compatible capsules across Europe this fall, posing the sternest competitive challenge yet to the Nestle SA brand.
The U.S. Securities and Exchange Commission will vote today on a proposal that would impose a floating-share value on the riskiest type of money-market mutual funds or allow them to suspend redemptions when the fund is under stress.
Fifteen members of the U.S. House and Senate or their spouses benefited from federal farm subsidies last year, underscoring a personal stake for some lawmakers in a congressional debate that resumes this week over spending on agriculture programs.
Los Angeles voters elected Councilman Eric Garcetti as mayor of the second-largest U.S. city, replacing Antonio Villaraigosa and inheriting a budget that relies on city unions to forgo 5.5 percent raises next year and uses about three-quarters of a reserve fund.
Russia’s federal budget deficit will probably widen next year more than previously planned as a weaker economy risks erasing 650 billion rubles ($20.8 billion) in revenue, Finance Minister Anton Siluanov said.