Puerto Rico Defaults on Bond Payment (Published 2015)
Puerto Rico defaulted on a $58 million bond payment on Monday, a risky move that seemed to intensify the pressure on creditors for broader debt renegotiation, but might also make future borrowing far more difficult. Whether Puerto Rico would make the payments was a subject of intense speculation among legal and financial experts for days as Monday’s deadline approached. Although the island made a
A Shaken Agency Looks to the Future (Published 2011)
Dominique Strauss-Kahn during his arraignment in New York on Monday.Credit...Pool photo by Emmanuel Dunand But he said the United States also wanted to see an “open process,” stopping short of endorsing Europe’s claim. The United States faces a sensitive task over the next few months, risking confrontation if it backs a European candidate, leaving room for countries with developing economies to co
Many With New College Degree Find the Job Market Humbling (Published 2011)
Graduates at the University of Michigan commencement ceremony in Ann Arbor in April. Credit...Jessica Hill/Associated Press The individual stories are familiar. The chemistry major tending bar. The classics major answering phones. The Italian studies major sweeping aisles at Wal-Mart. Now evidence is emerging that the damage wrought by the sour economy is more widespread than just a few careers le
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