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August, 24, 2016

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Puerto Rico's governor on Wednesday approved a voluntary reduction of working hours for government employees after signing several laws to help reduce spending and generate revenue amid a severe economic crisis.
 
Puerto Rico bondholders devastated but see hope in federal aid package
Attorney Santiago Mari sighed as he punched numbers into his calculator and saw the result. The value of his retirement account has dropped 75 percent due to the collapse in Puerto Rican bonds that make up much of his personal portfolio, he said. He's long abandoned plans for an early retirement. And he's far from alone.
 
The call for paid family leave on the U.S. Democratic Party's platform is the most ambitious attempt by a major party in years to reverse the United States' status as the only industrialized nation without any standard for paid time off for new parents. But over the last five years a handful of states and some industries have been quietly increasing this benefit.
 
The U.S. Environmental Protection Agency's (EPA) internal watchdog says there is an ongoing criminal investigation into last year's massive wastewater spill from an abandoned Colorado gold mine.
 
Obama signs bill requiring labeling of GMO foods
President Barack Obama has signed into law a bill that will require labeling of genetically modified ingredients for the first time.
 
Chipotle says it plans to open burger restaurant
Chipotle is branching out from burritos and plans to open its first burger restaurant.
 
Growth in the U.S. economy was sluggish again in the spring, dashing expectations for a robust rebound after a tough winter.
 
Fed keeps rates steady but increase may be coming
The Federal Reserve left key interest rates untouched Wednesday but acknowledged improved economic performance, suggesting a rate increase may still be on the horizon in 2016.
 
Fed's more upbeat tone suggests rate hike sometime this year
The Federal Reserve said Wednesday that near-term risks to the U.S. economy have diminished, reviving the prospect that it will resume raising interest rates as soon as September.
 
Hundreds of cafeteria workers who help feed senators and others in the Capitol and nearby office buildings will get back pay totaling more than US$1 million because their private employers illegally underpaid them, the U.S. Labor Department said Tuesday.
 
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