Puerto Rico

Puerto Rico's unemployment rated declined to 14.0% in October from 14.1% in September, a sliver of hope for Puerto Rico's struggling economy.

Puerto Rico lawmakers are wrangling with Gov. Alejandro García Padilla over ways to boost the finances of the Puerto Rico Highways and Transportation Authority after the governor's plan to raise oil taxes reportedly ran into opposition.

The cash balance of the Puerto Rico Electric Power Authority declined 54% to Sept. 30 from June 30.

In a bid to boost its sagging economy, Puerto Rico is contemplating its biggest tax overhaul in decades.

Puerto Rico's net General Fund revenues came in 1% above expectations in October.

Puerto Rico's government announced a joint venture expected to create 500 jobs in Puerto Rico in the next three years.

The Puerto Rico Electric Power Authority has cut its November electricity rates by 7.7%, a few days after Puerto Rico indicated that bondholders should expect cuts on bond payments.

A Puerto Rico court affirmed its decision in favor of the Puerto Rico bank Doral Financial Corp., in a setback for the Puerto Rico Treasury.

The Securities and Exchange Commission's enforcement action against 13 dealer firms Monday represents a broad commission effort to correct behavior that was probably due to mistakes by individual traders dealing with an unusual bond issuance, attorneys and market participants said Tuesday.

While Puerto Rico faces fiscal problems that are similar to those of 1970s New York, it's important to note the differences between the two economies as the island commonwealth seeks a solution.