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July, 1, 2016

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Business > Americas
Obama vows to move quickly to sign last-minute Puerto Rico rescue package
As Puerto Rico faces a major debt payment, President Barack Obama is vowing to move quickly to sign a last-minute rescue package for the financially-strapped U.S. territory and its 3.5 million Americans.
 
Starwood begins managing hotel run by Cuba forces
American hospitality giant Starwood began managing a hotel owned by the Cuban military on Tuesday, opening one of the biggest holes in the U.S. trade embargo on Cuba since Presidents Barack Obama and Raul Castro declared detente in December 2014.
 
Puerto Rico financial rescue package wins Senate test vote
A rescue package for debt-stricken Puerto Rico has survived a test vote in the Senate, just two days before the island is expected to default on a US$2 billion debt payment.
 
North American leaders confront rising tide of protectionism
North America's leaders, at their summit in the Canadian capital, are confronting a rising tide of economic protectionism and nationalism.
 
Furniture giant Ikea said Tuesday it was recalling more than 35 million chests and dressers in North America after six children died in the United States when they tipped over.
 
A U.S. federal judge on Tuesday blasted Delaware's practice of collecting abandoned property, issuing a ruling that could have dire budget consequences for the state.
 
The U.S. economy grew slightly faster at the start of the year than previously estimated, even though consumer spending posted the smallest gain in two years.
 
Oakland City Council bans coal shipments, citing health hazards
The Oakland City Council voted unanimously Monday night to kill a plan to use a proposed marine terminal to transport Utah coal to Asia, calling such shipments public health and safety hazards. Backers argued the project would bring needed jobs to an impoverished part of town.
 
It's getting harder to know who is funding political advertising at the state level as more money becomes anonymous or is filtered from one political action committee to another, a new study finds.
 
The governments of Guyana and Brazil will try to tap China's US$10 billion Latin American infrastructure fund to finance a 350-mile jungle highway linking the two South American nations.
 
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