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Eric Papenfuse called for a hiring freeze and renewed scrutiny for all non-essential spending after the state budget did not give him the taxing flexibility he seeks.

Municipal bonds were stronger Wednesday as bond deals from New York and California were coming to market.

With interest rates expected to remain low by historical standards, Federal Reserve Bank of Boston President Eric Rosengren said Wednesday, the Fed should consider ways to keep short-term interest rates from hitting zero.

State-owned Santee Cooper wants the high court to affirm its authority to set rates and pay off bonds that financed its scrubbed nuclear reactor project.

The decision could ultimately free up more spending flexibility for state and local governments by weakening organized labor in the sector of the economy where the rate of unionization is the highest.

Pending home sales declined 0.5% to an index reading of 105.9 in May, after an unrevised 1.3% fall to 106.4 in April.

The value of U.S. durable goods new orders fell 0.6% in May, a smaller drop than the 0.8% decrease expected by analysts.

New York City is making the move through HUD's Rental Assistance Demonstration program.

A new board supersedes the current five-member elected board of Munice Community Schools, which is now limited to an advisory role.

Revenues through the first 11 months of the fiscal year were 1% ahead of projections.