Northeast

The City Council also overrode Mayor Michael Bloomberg's veto of the so-called living wage bill, affecting many companies that do business with the city.

While particulars vary, distressed Pennsylvania communities Harrisburg, Scranton and Altoona struggle for solutions amid common concerns of state indifference - and in some cases hindrance - rising pension obligations and potentially crippling arbitration awards.

Rockland County, facing a possible $40 million budget gap, saw its rating drop to BBB-minus by Standard & Poor's after it failed to get approval to issue deficit-reduction bonds.

Rhode Island Gov. Lincoln Chafee signed an executive order creating a task force to help facilitate shared services among Pawtucket, Central Falls and East Providence.

The Rhode Island Economic Development Corp. has hired outside counsel to explore a clawback of money the state stands to lose amid the demise of video game company 38 Studios.

Abington Health and Holy Redeemer Health System have announced their intent to merge into a new regional Pennsylvania health system.

The New York State Thruway Authority's $1.1 billion sale of general revenue bonds met high demand last week, despite being placed on negative outlook by credit rating agencies.

The Port Authority of New York and New Jersey has selected four firms to provide underwriting services for the World Trade Center redevelopment.

The high amount of approved budgets among New York school districts is a credit positive for the sector, said Moody's Investors Service in a recent report.

The $68.5 billion spending plan calls for no tax increases, but skeptics say it relies too much on stop-gap measures.