New York

New York State adopted a new budget for fiscal 2014 Thursday, the third year in a row that the state has adopted a budget before the fiscal year's start on April 1.

Tax collections in February were down 5.6% in New York state government compared to February 2012.

Women-owned Stern Brothers & Co. opened an office in New York City, is 15th location, and hired investment banker Donna LoCascio.

New York's Metropolitan Transportation Authority awarded the first contract to a company participating in its new federal small business mentoring program.

Uncertainty from labor contracts to bond interest rates could pressure New York City's finances and skewer projections, according to the Independent Budget Office.

Standard & Poor's has put a negative outlook on its A-plus rating of Suffolk County, N.Y.

Fitch Ratings downgraded the general obligation debt of Suffolk County, N.Y. to A from A-plus on Monday afternoon. Fitch retains a negative outlook on the bonds.

A bankruptcy court hearing is slated next week on settlement agreement between American Airlines Inc. and holders of its $1.4 billion of New York City airport debt.

Standard & Poor's placed the general obligation debt, rated BBB-plus, of Niagara Falls, N.Y. on CreditWatch Negative Monday morning.

The New York City Transitional Finance Authority sold $1 billion in new money and refunding bonds, including $650 million new money, $250 million refunding and $100 million in taxable qualified school construction bonds.

The Long Island Association business group opposes New York Gov. Andrew Cuomo's proposed privatization of the Long Island Power Authority.

The New York Thruway Authority says it is in the process of obtaining a $1.5 billion TIFIA loan, but U.S. DOT guidelines indicate the loan would be at least $200 million less.

Standard & Poor's has downgraded Dowling College in New York to B from BB. The rating remains on CreditWatch with negative implications.

New York City Comptroller John Liu formally announced his candidacy for mayor, looking to become the first Asian-American to hold that office.

A judge has overturned a step by the State University of New York aimed at restoring financial health to the SUNY Downstate Medical Center.

The board of the Dormitory Authority of the State of New York approved $298 million in new bonds.

The New York City Municipal Water Finance Authority sold $543 million of second resolution, fixed-rate tax exempt refunding bonds.

Rochester, N.Y., will experience fiscal stress in the coming years, the office of New York Comptroller Thomas DiNapoli said in a recent report.

Fitch Ratings dropped Niagara Falls, N.Y. general obligation debt three notches to BBB from A late Thursday.

The New York City Pension Funds have reached agreements with Capital One, Citigroup and Wells Fargo to expand clawback policies, Comptroller John Liu announced.