The US Congress would no longer require US-flag vessels to move goods between the mainland and Puerto Rico under a five-year debt restructuring plan proposed Wednesday by Puerto Rican Gov. Alejandro Garcia Padilla.
Prime Minister Alexis Tsipras said that Greece can return to bond markets as soon as creditors restructure the countrys state debt.
The goal is to return to the markets. If there is a good decision on the debt issue, Greece could return to markets shortly after debt restructuring, Tsipras said in a Wall Street Journal interview on Tuesday.
However, creditors require that the first review on the progress of the bailout program is completed successfully before any talk on easing the Greek debt.
Despite his reservations on some of the reforms required such as tax hikes and pension cuts the Greek prime minister pledged that his government will implement them.
(ThyBlackMan.com) When Donald Trump first spoke about his intentions to run for President and called out Mexicans and Hispanics in general, here’s what happened. Yes, there were protests in the streets by Latinos who felt they had been insulted by Trump, but further action was taken, not by Latinos but by corporations.
According to an article by Sarah Berger, with the International Business Times, “[Macy’s] said they would no longer carry Trump’s menswear collection, which featured shirts, ties and watches.” Further, “Macy’s is not alone: NBCUniversal, Univision, mattress maker Serta and other companies have also cut ties with Trump…The...
* Bumi to meet lenders by Sept. 30, agree framework by Oct.
* Proposal to take into account weaker cash flow
* Bumi can only service limited debt at reduced interest
(Adds details on restructuring proposal, background)
By Eveline Danubrata
JAKARTA, Sept 28 (Reuters) – Indonesian coal miner PT Bumi
Resources Tbk said on Monday it plans to put forward
to creditors a revised debt restructuring plan to take into
account reduced cash flows as a result of depressed coal prices.
The company has total outstanding debts of $3.984 billion
owed to creditors including China Investment Corp,
China Development Bank and bondholders,...
KIEV Ukraine will hold three investor presentations on the main features of a debt restructuring deal it is asking bondholders to approve, the Finance Ministry said on Thursday.
The presentations, which will take place on Friday, Monday and Tuesday either via webcast or meetings in London and New York, will also include information on the ongoing voting process and the actual implementation of the debt operation, it said.
Bondholders will vote on the restructuring terms on Oct 14.
(Reporting by Alessandra Prentice; editing by John Stonestreet)
Newest Members of Economics Department Both Publish
For something like 30 years, we have been hearing about trickle-down economics, in which we lower taxes and other burdens on the wealthy, these wealthy individuals invest in the economy, and the benefits of those investments “trickle down” to the middle and lower class. That may well be what happens when the burdens are lowered on the wealthy but, as we all know, the wealthiest in the US are gaining ground on everyone else and have been for a long time. This is not a critique of trickle-down economics per se. There are other things going on, including a transition of value from labor to capital as a result of technological progress, that are driving the gains of the wealthiest...
The sun may be about to shine again on commodity prices and sentiment. Thats the contrarian message from Capital Economics in their latest Commodities Economics Chart Book released this week.
Julian Jessop, Capital Economics head of commodities research, and his team said:
Commodity prices fell again in September on concerns about a hard landing in China despite many leading indicators of the Chinese economy, including credit growth and fiscal spending, suggesting that a pick-up in activity is on its way. We continue to expect that recent policy stimulus will feed through into the real economy and boost commodities demand by the end of this year.
This week, the US Environmental Protection Agency (EPA) revised its air quality standard for smog (or ground-level ozone), meeting, by a matter of hours, a court-ordered deadline to do so. The EPA tightened the existing standard of 75 parts per billion (ppb), set by the George W. Bush administration, to 70 ppb, the least stringent of the revisions it was considering.
The Ukrainian parliament has given its backing to a debt restructuring deal that aims to save Kyiv billions of dollars and bolster its financial stability.
The speaker of parliament, Volodymyr Groisman, called it a victory for Ukraine, after lawmakers approved three laws needed to pass the deal.
There was heated debate before the vote on September 17, but in the end the bills passed with more than 300 yesvotes for each law compared with the 226 minimum needed.
Prime Minister Arseniy Yatsenyuk told parliament that a yesvote meant a vote for economic growth, foreign investment, increasing the number of jobs, and a rise in social standards.
Finance Minister Natalie...