The pre-thanksgiving feast of economic data released on Wednesday showed momentum seen earlier in the quarter is waning, according to one analyst, while another saw "malaise," as the number of coronavirus cases rises and governments add restrictions. “After the data today, it does appear as if the momentum from the start

Tower Health’s aggressive expansion, financed by a 2017 bond issue, has hampered the Pennsylvania nonprofit health system’s finances, and may be forced to sell some of its acquisitions. Tower has incurred more than $550 million of operating losses during the past two fiscal years, after acquiring five community hospitals throughout the

A divided Chicago City Council signed off on Mayor Lori Lightfoot’s 2021 budget that closes a record $1.2 billion gap with scoop-and-toss debt restructuring, a property tax hike and mix of other structural and one-time maneuvers as the city seeks to navigate the COVID-19 pandemic’s fiscal wounds. The council voted 29-21

Pennsylvania lawmakers’ use of $1.3 billion in federal COVID-19 funds to balance its fiscal 2021 budget came despite calls to target the money for those most affected. The legislature on Friday approved the backfill to balance the $35.5 billion spending plan, down 2.2% from the previous year. It is headed to

U.S. Treasury Secretary pick Janet Yellen has established herself as an ally to state and local governments seeking federal pandemic relief, and her background in labor economics leaves her well-positioned to quarterback President-elect Joe Biden's infrastructure-heavy economic agenda. Biden tapped the former Federal Reserve chairwoman for the Treasury post Monday,

A judge rejected Puerto Rico bondholders' request for compensation from the U.S. government for Oversight Board-incurred losses. United States Court of Federal Claims Judge Richard Hertling released his opinion Monday in Altair Global Credit Opportunities Fund (A), LLC et al v. United States.

“There really is an opportunity for

The Cook County, Illinois, board of commissioners unanimously approved a $6.94 billion 2021 budget that filled a $400 million hole in the general and health system funds through cuts, federal funds, a draw on reserves and other measures. The deficit stemmed from both COVID-19-related wounds to tax revenue and rising structural

Now that it’s been given a new lease on life after the passage of Proposition 14, a statewide $5.5 billion ballot measure, California’s bond-funded stem cell research agency will re-write its budget. The California Institute for Regenerative Medicine was created in 2004 when voters approve Proposition 71, allocating $3 billion

Municipal bond buyers swarmed in and snapped up the JFK Airport $332 million refunding deal, which came to market on Tuesday. Sources told The Bond Buyer the offering was massively oversubscribed, with one source saying they heard billions of dollars in orders came in for the bonds. JPMorgan Securities was able