SAN FRANCISCO, May 28 (Reuters) – Stockton, California,
urged an appellate court on Thursday to back the city’s exit
from municipal bankruptcy after a holdout creditor appealed its
Stockton said in a brief on Thursday that the creditor, two
funds managed by Franklin Templeton Investments, was trying to
relitigate its case using the same flawed legal arguments that a
U.S. federal bankruptcy court judge had already rejected.
May 28 (Reuters) – Lockheed Martin received a deal this week
to expand a plant in Arkansas using $87 million of state general
obligation bonds, an unusual method of funding a private project
with taxpayer debt.
The deal, which could be signed by the governor before
week’s end, is contingent on Lockheed winning a contract
from the U.S. Department of Defense to manufacture joint light
SAN FRANCISCO (Reuters) – Chinese state firms are poised to be strong contenders in the race to make high-speed trains that will sprint between Los Angeles and San Francisco, part of a $68 billion project to bring the service to the United States for the first time.
While “bullet train” manufacturers from Germany, Japan, South Korea, and France are expected to be among those jockeying for the estimated $1 billion train contract, China’s ability to offer low prices and hefty financing appear to make it the one to beat, say lobbyists and industry insiders.
(Reuters) – California needs an additional $5.7 billion per year to maintain its roads, according to a 10-year planning report by the state’s Department of Transportation.
Caltrans said in the report, released last week, that it would need about $8 billion annually for the next 10 years to reach management and improvement goals for its highway system, but only $2.3 billion annually has been budgeted.
(Reuters) – U.S. public pension funds returned a median 2.19 percent in the first quarter of 2015, outperforming the 1.61 percent returns for the larger asset classes of institutional investment plans and real estate, according to a report to be released on Wednesday.
The results this year are above the first quarter of last year, when public pensions returned a median of 1.87 percent.
May 1 (Reuters) – Issuance of U.S. municipal bonds fell
slightly in April, but sales for the first four months of 2015
jumped over 67 percent compared with the same period a year
earlier, according to Thomson Reuters data released on Friday.
Total sales in April were $39.3 billion, 9.5 percent lower
than March, but 55 percent higher than the $25.3 billion sold in
SAN FRANCISCO, April 28 (Reuters) – Governor Jerry Brown
proposed legislation on Tuesday that would impose steep fines
for wasting water in drought-parched California.
In a meeting with California mayors, Brown said the
legislation would allow wholesale and retail water agencies,
along with city and county governments, to issue fines of up to
$10,000 per violation. Currently, there is a $500 per day
maximum, established in drought legislation last year.
NEW YORK (Reuters) – By one estimate U.S. online political advertising could quadruple to nearly $1 billion in the 2016 election, creating huge opportunities for digital strategy firms eager to capitalize on a shift from traditional mediums like television.
These firms – mostly small, partisan and based in Washington and surrounding suburbs – have grown in sophistication since the last presidential election in 2012. A niche sector in a multi-billion election industry, they are poised to play a much bigger role in 2016 as digital ads assume more importance and change the way political money is spent on advertising. (Graphic: reut.rs/1E6Ya5E)
SAN FRANCISCO, April 13 (Reuters) – Presidential contender
Hillary Clinton tweeted, Facebooked and YouTubed her way through
the first official day of her campaign in a social media
strategy that earned her high marks among marketers.
Her tweet announcing her candidacy notched almost 90,000
retweets by the end of the day Sunday, her campaign video more
than 1 million views on YouTube, and her Facebook campaign page
almost 500,000 likes.