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The bulk of the IIJA money will flow first to the states, so cities need to be organized and ready to work with governors, White House Infrastructure Coordinator Mitch Landrieu told the U.S. Conference of Mayors.

Swain's order affects $1.9 billion of PRIFA bonds and $384 million of CCDA bonds, for which insurers and bondholders will receive minimum recoveries of 14% and 29% of par, respectively.

Maryland blames a "post-pandemic market" for cost increases lifting the light rail line's price tag to $9.28 billion. The system is to open four years late in 2026.

As New York's new City Council continues to organize, the new mayor, Eric Adams, says how he will achieve his "paycheck in crypto" promise.

In the near term, federal aid is sitting on balance sheets ready to be deployed if some of the downside economic risks become reality, experts say.

While challenges abound — shuttered industries, outmigration and COVID — there are positive signs the territory’s economy can be boosted.

A long-awaited report from the Federal Reserve is a historic step toward the possible development of a central bank digital currency. But the Fed emphasized it would not create one without a clear directive from Congress and the White House.

The law concerning bankruptcy advisor disclosures comes after the SEC fined Oversight Board advisor McKinsey in November.

Refinitiv Lipper reported $238.926 million of outflows, but $182.035 million of inflows to high-yield, reversing last week's outflows. New-issues faced concessions.

The fiscally stressed Chicago suburb offered terms, including a 20-year maturity extension for a possible bond exchange, as it looks to restructure debt.