TheRepublic.com - Debt and bond markets News

Indiana withdraws support for fertilizer plant

Fri, 17 May 2013 16:05:12 -0400

INDIANAPOLIS - Indiana officials withdrew state backing Friday for a fertilizer plant over concerns about whether its Pakistan-based owners are doing enough at its overseas operations to keep the potentially explosive material from being used against U.S. troops.

Lew tells Congress of steps to avoid debt default

Fri, 17 May 2013 15:18:22 -0400

WASHINGTON - Treasury Secretary Jacob Lew told Congress on Friday that the administration will begin taking steps next week to avoid a default on the nation's debt until Congress votes to raise the government's borrowing limit.

Koster seeks closer monitoring of ex-Mamtek CEO

Thu, 16 May 2013 18:23:11 -0400

JEFFERSON CITY, Missouri - Missouri prosecutors want a judge to let them keep closer tabs on the former head of a failed artificial sweetener plant in Moberly.

House advances student loan fix

Thu, 16 May 2013 15:58:24 -0400

WASHINGTON - The days of fixed-rate student loans could be coming to a close, with House Republicans on Thursday advancing a proposal that would link rates to financial markets.

Foreign holdings of US Treasury debt up in March

Wed, 15 May 2013 14:09:14 -0400

WASHINGTON - Foreign demand for U.S. Treasury securities rose to a record level in March, signaling further confidence in U.S. debt.

Kan. Senate approves $202M NBAF bond bill

Wed, 15 May 2013 14:08:08 -0400

TOPEKA, Kansas - The Kansas Senate approved an additional $202 million in bonds for construction of the new federal biodefense lab in Manhattan on Wednesday, despite concerns by conservative Republicans about whether the state could afford it.

Projected lower deficit could slow any budget deal

Wed, 15 May 2013 03:34:10 -0400

WASHINGTON - The good news is the budget deficit for the current year is projected to come in well below what was estimated just a few months ago. The bad news for deficit hawks is that the development could further curb the already slowing momentum for a budget pact this year.

Guns, schools, drug testing await Ala. legislators

Sun, 12 May 2013 15:17:19 -0400

MONTGOMERY, Alabama - Even with the state budgets already passed, the Legislature's final meeting day looks to be long and hectic, with issues ranging from welfare drug testing to school safety and gun regulations to $130 million in state borrowing.

Baltimore schools prep for massive renovations

Sun, 12 May 2013 08:50:41 -0400

BALTIMORE - Baltimore public schools are on the verge of a system-wide makeover that officials hope will provide safer learning conditions for students and spark an era of academic achievement.

Pa. Turnpike looks to foreign investors for $200M

Thu, 09 May 2013 19:21:05 -0400

PHILADELPHIA - Foreign investors could provide $200 million to help connect the Pennsylvania Turnpike to Interstate 95 in southeastern Pennsylvania in a deal that would provide commissions and fees for the officers of a Philadelphia investment management company and green cards for the investors and their families.

House passes bill to prioritize US debt payments

Thu, 09 May 2013 14:15:46 -0400

WASHINGTON - The GOP-controlled House voted Thursday to make sure U.S. bondholders and people on Social Security get paid if the government hits its borrowing limit.

Spain education sector hit by strike against cuts

Thu, 09 May 2013 10:31:31 -0400

MADRID - Thousands of students and teachers staged a strike across Spain on Thursday to protest government austerity measures and a planned new education reforms.

Wyo. Senator: Bill protects states' cash from feds

Wed, 08 May 2013 19:41:19 -0400

CHEYENNE, Wyoming - Wyoming's senior U.S. senator said he plans to unveil legislation Thursday that would allow states to collect royalties directly from companies that produce minerals from federal lands.

Egyptian president OKs law allowing Islamic bonds

Wed, 08 May 2013 16:56:24 -0400

CAIRO - Egyptian President Mohammed Morsi has signed a new law allowing the state to issue Islamic bonds - an effort to help ease an expanding budget deficit.

Summary of action in Alabama Legislature

Tue, 07 May 2013 22:40:04 -0400

MONTGOMERY, Alabama - A summary of action in the Alabama Legislature on Tuesday, the 28th legislative meeting day:

Ala. House panel OKs school security officer bill

Tue, 07 May 2013 19:23:26 -0400

Montgomery, Alabama - An Alabama House committee approved a bill Tuesday that would allow school systems to hire trained security officers for their schools and would have the school systems pay the cost of employing the officers.

Deal signs $37.1B budget; touts spending restraint

Tue, 07 May 2013 16:58:28 -0400

ATLANTA - Gov. Nathan Deal signed a $37.1 billion total budget for fiscal year 2014 on Tuesday, saying the plan balances the budget without raising taxes and reduces government spending.

$8M in bonds sales for NY airport upgrades

Tue, 07 May 2013 05:35:06 -0400

WHITE PLANS, New York - The sale of nearly $8 million in bonds had been approved by county legislators to fund improvements at Westchester Airport.

Rates on US Treasury bills drop at weekly auction

Mon, 06 May 2013 18:02:50 -0400

WASHINGTON - Interest rates on short-term Treasury bills fell in Monday's auction to the lowest levels since January 2012.

Bank of America agrees to pay MBIA $1.7 billion

Mon, 06 May 2013 17:11:30 -0400

NEW YORK - Bank of America agreed to pay bond insurer MBIA $1.7 billion to settle a dispute over faulty mortgage securities issued during the U.S. housing boom.

SEC says Harrisburg, Pa., misled bond investors

Mon, 06 May 2013 16:51:08 -0400

HARRISBURG, Pennsylvania - Pennsylvania's debt-laden capital city violated federal antifraud rules for securities issuers by repeatedly giving misleading information that created risks for bond investors at a time the city's finances were rapidly deteriorating, the U.S. Securities and Exchange Commission said Monday.

St. Tammany Parish voters approve school bonds

Mon, 06 May 2013 08:49:14 -0400

COVINGTON, Louisiana - Voters gave the St. Tammany Parish School Board authority to issue $135 million in bonds for school construction and upgrades for technology and security.

Moberly dismissed from Mamtek investor lawsuit

Sat, 04 May 2013 13:45:24 -0400

MOBERLY, Missouri - The city of Moberly and its industrial development agency have been dismissed from a civil lawsuit filed by spurned investors in the failed Mamtek artificial sweetener factory.

Maine governor still pushing bond for new prison

Sat, 04 May 2013 11:03:06 -0400

AUGUSTA, Maine - Gov. Paul LePage's push for a new prison to replace the aging, hodge-podge Maine Correctional Center in Windham has been overshadowed lately by other issues swirling about the State House, such as the Medicaid debt to hospitals, a new school grading system and a proposed tax code overhaul.

Man sentenced in North Texas for Ponzi scheme

Fri, 03 May 2013 15:13:06 -0400

FORT WORTH, Texas - A California man has been sentenced in North Texas to 10 years in prison and ordered to pay nearly $17 million in restitution for operating a Ponzi scheme.