San Juan 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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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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Onex Corp., Canada’s biggest buyout firm, agreed to acquire Nielsen Holdings NV’s tradeshow unit for $950 million in cash.
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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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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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John Paulson, a lifelong New Yorker, is exploring a move to Puerto Rico, where a new law would eliminate taxes on gains from the $9.5 billion he has invested in his own hedge funds, according to four people who have spoken to him about a possible relocation.
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A 10-digit lottery number on a crumpled Church’s Chicken receipt is Governor Luis Fortuno ’s solution for pulling Puerto Rico from its “lost decade” and may salvage his popularity.
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The Texas Department of Agriculture said a case of citrus greening was confirmed in a commercial orange grove in San Juan.
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JetBlue Airways Corp. is seeking permission to operate nonstop flights to San Juan, Puerto Rico and to Austin, Texas from Ronald Reagan Washington National Airport as the airport adds long-distance routes for the first time since 2004.
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John Paulson, the New York hedge- fund manager who was considering a move to Puerto Rico, said he won’t set up a permanent residence on the island.
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