Northeast

Gov. Dannel Malloy reduced Connecticut's executive branch budget by roughly $25 million, as the state looks to plug a $121 million budget for fiscal 2015.

The arrival of an emergency manager in Atlantic City, N.J. triggered a six-notch downgrade by Moody's Investors Service Friday, drawing criticism from the city's top financial official.

Leadership chaos in Albany following the arrest of Assembly Speaker Sheldon Silver on federal corruption charges could further complicate an already difficult task for New York MTA: obtaining approval of its $32 billion capital plan.

New Jersey Gov. Chris Christie put his state government in control of struggling Atlantic City Thursday, hiring an emergency manager and naming a key figure in Detroit's bankruptcy case as a consultant.

Pennsylvania's stressed public school districts are devising novel approaches for combating competition from charter schools, according to Moody's.

New York Gov. Andrew Cuomo is proposing using much of $5.4 billion in available legal settlement funds to pay for infrastructure needs and toll subsidies.

New York's Metropolitan Transportation Authority approved biennial fare and toll increases of roughly 4%, spread over two years.

Nitsui Fudosan, Related Cos. and Oxford Properties plan to build an office tower building at Hudson Yards, adjacent to the MTA's No. 7 extension.

Standard & Poor's raised the rating of New Britain, Conn.'s general obligation pension funding bonds three notches to A from BBB, the city's rating last year after a downgrade.

A calm environment atypical for January, low interest rates and the floating rate note enabled New York's MTA to upsize its bond sale, said finance manager Patrick McCoy.