Northeast

A long-awaited overhaul of New York’s Pennsylvania Station is now full steam ahead, according to Gov. Andrew Cuomo, who touted sweeping plans Tuesday to create a new “world-class” transportation hub.

The performance of New York City's five public pension plans was positive in the second quarter, the chief investment officer of the funds told trustees at Monday's common investment meeting held at the Dinkins Municipal Building in Manhattan.

New York MTA intends to market five subseries of floating rate securities totaling $242 million and also refund $500 million of transportation revenue bonds in October.

Atlantic City has reached an agreement to sell its old municipal airport property to its water utility in a deal that city officials hope will help it avoid a state takeover.

New York MTA has put business with Wells Fargo Securities and approval as a senior manager for bond transactions on hold pending its review of the bank’s practices, following revelations that Wells Fargo bank employees secretly created accounts without clients’ approval

Maryland tax revenues are expected to miss previous projections by $783.1 million over the next two fiscal years, the state’s Board of Revenue Estimates said last week.

Atlantic City is now starring at a possible default by early October after New Jersey’s Local Finance Board rejected the distressed city’s request for a reprieve after violating a term of a $73 million bridge loan.

The Port Authority of New York and New Jersey will issue bonds to finance its share of a planned $3 billion overhaul of Manhattan’s Penn Station.

A school funding case adds another layer of financial uncertainty for the beleaguered state government.

The New York City Housing Development Corp. board approved the appointment of Eric Enderlin as president.