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Karen Pierog

Chicago mayor pushes bond sale, constitutional change to aid pensions

9:33pm GMT

CHICAGO Mayor Rahm Emanuel laid out a multi-pronged plan on Wednesday to tackle Chicago's huge pension burden, urging the city council to approve the issuance of $10 billion of bonds to boost funding for the city's four retirement systems.

Chicago mayor pushes bond sale, constitutional change to aid pensions

9:06pm GMT

CHICAGO, Dec 12 Mayor Rahm Emanuel laid out a multi-pronged plan on Wednesday to tackle Chicago's huge pension burden, urging the city council to approve the issuance of $10 billion of bonds to boost funding for the city's four retirement systems.

Detroit addresses upcoming 'debt cliff' with bond redemption

07 Dec 2018

CHICAGO Detroit's latest redemption of bonds sold in 2014 as part of its exit from bankruptcy will result in big savings in future years, city officials said on Friday.

Post-bankruptcy Detroit returns to yield-hungry muni bond market

05 Dec 2018

CHICAGO Detroit on Tuesday sold its first standalone bonds since exiting bankruptcy four years ago to U.S. municipal market investors, who snapped up the debt albeit at hefty yields.

Post-bankruptcy Detroit returns to yield-hungry muni bond market

04 Dec 2018

CHICAGO, Dec 4 Detroit on Tuesday sold its first standalone bonds since exiting bankruptcy four years ago to U.S. municipal market investors, who snapped up the debt albeit at hefty yields.

Puerto Rico completes first consensual debt restructuring

30 Nov 2018

Puerto Rico concluded a U.S. bankruptcy court-approved restructuring of its Government Development Bank (GDB) debt, marking its first consensual deal with creditors under a federal oversight law, government officials announced on Thursday.

Labor unions file pension lawsuit against Puerto Rico

16 Nov 2018

CHICAGO Puerto Rico violated a law meant to safeguard the pensions of its public-sector workers who have been unable to invest the more than $300 million they contributed to a new retirement plan, according to a lawsuit filed against the U.S. commonwealth's government and others by two labor unions on Thursday.

Labor unions file pension lawsuit against Puerto Rico

15 Nov 2018

CHICAGO, Nov 15 Puerto Rico violated a law meant to safeguard the pensions of its public-sector workers who have been unable to invest the more than $300 million they contributed to a new retirement plan, according to a lawsuit filed against the U.S. commonwealth's government and others by two labor unions on Thursday.

Chicago's focus turns to pensions after budget approval

15 Nov 2018

CHICAGO The Chicago City Council on Wednesday gave overwhelming approval to the final budget proposed by Mayor Rahm Emanuel, who leaves office next year, and who said he will address looming pension funding challenges in December.

With FY 2019 budget approved, Chicago's focus turns to pensions

14 Nov 2018

CHICAGO, Nov 14 The Chicago City Council on Wednesday gave overwhelming approval to the final budget proposed by Mayor Rahm Emanuel, who leaves office next year, and who said he will address looming pension funding challenges in December.

World News

Trump ex-lawyer Cohen given 3 years in prison, blames 'blind loyalty'

President Donald Trump's former personal lawyer Michael Cohen was sentenced to three years in prison on Wednesday for crimes including orchestrating hush payments to women in violation of campaign laws before the 2016 election and financial wrongdoing, posing potential legal and political risks to Trump.