Updated June 30, 2016 5:45 p.m. ET WASHINGTONPresident Barack Obama signed bipartisan debt-relief legislation for Puerto Rico on Thursday, one day before the islands government said it would default on major debt payments. The legislation wont avoid Fridays imminent default. Instead, it will give the territory a stay from litigation that could have led a judge to order…
The U.S. Senate gave solid approval on Wednesday to a relief plan to help Puerto Rico address its $70 billion debt, sending the measure to President Obama for his signing into law just ahead of a possible default by the U.S. territory on its next debt payment. The measure passed the Senate on a vote…
SINGAPORE The sole breadwinner for her five schoolgoing children, Mdm Tan already struggles to manage the familys household expenses and bills with her monthly salary as an ad hoc sales promoter; she can hardly save for rainy days. But under a new Family Development Programme by the Methodist Welfare Services (MWS), the 34-year-old could receive…
Puerto Rico has $70 billion in debt. The measure passed by the Senate sets up a fiscal control board for the island, and helps it avoid defaulting on a critical $2 billion debt payment due Friday. Read the full article at: http://www.npr.org/2016/06/30/484129397/senate-passes-bill-to-help-puerto-rico-restructure-debt
JOHANNESBURG Former Congress of South African Trade Unions (Cosatu) head Zwelinzima Vavi says the call by some parts of the African National Congress (ANC), for people to help President Jacob Zuma pay his Nkandla debt, shows that Zuma has become the party and the ANC has become Zuma. Both the ANC in KwaZulu-Natal and the party’s…
Democratic presidential candidate Hillary Clinton has gotten some well-deserved rebukes for the limited college-debt relief plan she unveiled Tuesday in Denver for graduates who start new businesses. If Clinton wants to give away money to people who will eventually be wealthy, this proposal is a great idea, writes Alexander Holt in Inside Higher Ed. “The…
As part of the Obama Administration’s continued commitment to ensure that defrauded students have a path to debt relief with minimal burden, Special Master Joseph A. Smith has delivered his fourth and final borrower defense progress report to the U.S. Department of Education. “Joe has shown tremendous leadership, thoughtfulness and insight during his tenure as…
A worker takes off U.S and Puerto Rican flag in San Juan, Puerto Rico, May 16, 2016. Reuters/Alvin Baez A relief plan to help Puerto Rico address its $70 billion debt cleared a critical hurdle in the U.S. Senate on Wednesday, getting the supermajority it needed to advance to debate and a final vote this…
5102591 Democratic presidential candidate Hillary Clinton unveiled a new plan Tuesday that would provide student loan assistance, and potentially full forgiveness, to college graduates who try to start their own business. But almost immediately after being announced, critics on the left decried Clintons plan, arguing that it will be too beneficial to white male graduates. Under…
Now watching Next video starts in : 7 Play Puerto Rico Debt Crisis: Can U.S. Legislation Help? Replay video … Read the full article at: http://finance.yahoo.com/video/puerto-rico-debt-crisis-u-202057730.html