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May, 24, 2016

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Business > Americas
Governor Alejandro Garcia Padilla announced that Puerto Rico's government will not make nearly US$370 million in bond payments due Monday after a failure to restructure or find a political solution to the U.S. territory's spiraling public debt crisis.
 
Gretel de la Rosa, a budding Cuban businesswoman, had been in Mexico City for just a few hours, but she already had stuffed three bags with fabric for her shop back home.
 
The U.S. Federal Reserve is keeping a key interest rate unchanged against the backdrop of a global economic slump and providing no hint of when its next rate hike may occur. A statement the Fed issued after its latest policy meeting notes that the United States is enjoying solid job gains despite a slowdown in growth. The Fed says it also expects inflation to move toward its 2 percent target from persistently low levels.
 
The U.S. economy inched forward at the weakest pace in two years from January through March, as consumer spending growth slowed, business investment plunged and exports declined further.
 
Fed keeps key rate unchanged and provides no timing hints
The Federal Reserve is keeping a key interest rate unchanged against the backdrop of a global economic slump and providing no hint of when its next rate hike may occur.
 
Orders to U.S. factories for long-lasting manufactured goods rose in March, but a key category that tracks business investment plans was weak for a second month.
 
Newspaper publisher Gannett said Monday that it wants to buy rival Tribune Publishing for more than US$388 million, in a deal that would give the owner of USA Today control of the Los Angeles Times, the Chicago Tribune and several other newspapers.
 
Alaska aquarium replaces fossil fuel with seawater energy extraction system
Thousands of people visit the Alaska SeaLife Center in Seward for a look at Steller sea lions or harlequin ducks. What's in the basement is almost as interesting.
 
Volkswagen owners will get a choice: a buyback or repairs
SAN FRANCISCO -- The owners of nearly half a million polluting Volkswagens in the U.S. will have the option of selling them back to the company or getting them repaired at VW's expense, under a deal announced Thursday by a federal judge.
 
The one-time slave turned abolitionist Harriet Tubman was named Wednesday as the new face of the US$20 banknote, the first time an African American has featured on U.S. currency.
 
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