Puerto Rico is not intending to cut principal payments to bondholders but to renegotiate debt terms, and officials are set to meet creditors on Monday at the offices of Citi, the head of the island's Government Development Bank Melba Acosta told reporters on Tuesday.
Regions
China bans big shareholders from cutting stakes for next six months
China's securities regulator took the drastic step of ordering shareholders with stakes of more than 5 percent from selling shares for the next six months in a bid to halt a plunge in stock prices that is starting to roil global financial markets.
U.S. crude falls more than 1 percent on surprise stockpile build
U.S. crude futures fell more than 1 percent on Wednesday after a surprise build in stockpiles while gasoline rallied on bets for strong fuel demand through the peak summer driving season.
NYSE shut down for nearly four hours by technical glitch
The New York Stock Exchange was forced to suspend trading for several hours on Wednesday in the biggest outage to hit a U.S. financial market in nearly two years, unnerving investors already rattled by the meltdown in Chinese stocks and the Greek debt crisis.
Alcoa earnings hurt by low aluminum prices, higher global surplus seen
Metals company Alcoa Inc reported a quarterly profit that missed expectations due to plunging primary aluminum prices on Wednesday, but revenues topped estimates on an ongoing drive to reduce reliance on the company's legacy commodity business.
Latest News
U.S. crude oil futures steadied on Tuesday after falling sharply a day earlier on worries about Greece's indebtedness and China's stock market losses, although charts indicated renewed selling could push prices into bear market territory.
Oracle Corp (ORCL.N) said its copyright infringement lawsuit against software support services company Rimini Street Inc and the smaller rival's Chief Executive Seth Ravin would go to trial in September.
U.S. stocks ended higher after a choppy session on Tuesday, as a rebound in U.S. oil prices helped offset concerns about a slowdown in China and the Greek debt crisis.
The Australian state of New South Wales has proposed changing its mining approval process to give greater consideration to environmental concerns, potentially threatening a colliery expansion planned by mining giant Rio Tinto Ltd.
China's stock market rout is injecting new stress into the already ravaged global commodity sector, with prices of copper, coal, natural gas and iron ore all falling back toward their 2015 lows. Analysts say the worst is yet to come as the stronger performers - solar and oil - are now also struggling.
When it comes to dashboard displays that are more like smart phones, two things are clear: Customers want them, and automakers are intent on supplying them.
Ahead of the release of its second generation flagship handset, smartphone maker OnePlus gave away a batch of 1,000 of their custom version of Google's Cardboard Virtual Reality viewer for free, charging only a minimal fee for shipping the item.
We've seen the teaser at the Worldwide Developers Conference (WWDC) a few weeks back and now Apple Pay is set to launch in the UK on July 14. Apple Pay has confirmed 22 local partners, including Marks and Spencer, Starbucks, Dune London, Waitrose, the Post Office, and Transport for London (TfL). The partnership with TfL is especially anticipated to provide utmost convenience as it covers the Tube and an array of bus, trains, and tram lines. It also works with over 20 apps, including British Airways, Hotels.com, Domino's, and Zara.
Chipmaker Advanced Micro Devices Inc lowered its revenue estimate for the second quarter, below analysts' average estimate, saying the demand for personal computers was weaker-than-expected.
