Investors holding $1.8 billion of bonds to finance Brightline West, a high-speed rail line between Southern California and Las Vegas, are asserting more control of the project after giving the railroad three more months to inject capital.
Investors holding $1.8 billion of bonds to finance Brightline West, a high-speed rail line between Southern California and Las Vegas, are asserting more control of the project after giving the railroad three more months to inject capital.
An illustration of a Brightline West high-speed train. Source: Brightline
New York City taxpayers may face a bill of more than $500 million next year if proposals to increase public employee benefits are approved as part of the state budget.
New York City taxpayers may face a bill of more than $500 million next year if proposals to increase public employee benefits are approved as part of the state budget.
Pedestrians on the Brooklyn Bridge in New York. Photographer: Adam Gray/Bloomberg
New York State collected $127.5 billion in tax revenue last fiscal year, $2.3 billion more than Governor Kathy Hochul had estimated two months earlier, according to state Comptroller Thomas DiNapoli.
New York State collected $127.5 billion in tax revenue last fiscal year, $2.3 billion more than Governor Kathy Hochul had estimated two months earlier, according to state Comptroller Thomas DiNapoli.
The New York City skyline Photographer: Jeenah Moon/Bloomberg
New York State collected $127.5 billion in tax revenue last fiscal year, $2.3 billion more than Governor Kathy Hochul had estimated two months earlier, according to state Comptroller Thomas DiNapoli.
New York State collected $127.5 billion in tax revenue last fiscal year, $2.3 billion more than Governor Kathy Hochul had estimated two months earlier, according to state Comptroller Thomas DiNapoli.
The New York City skyline Photographer: Jeenah Moon/Bloomberg
New York City’s $320 billion pension funds plan to invest $4 billion in affordable apartments, doubling their investment amid a city-wide housing crunch.
New York City’s $320 billion pension funds plan to invest $4 billion in affordable apartments, doubling their investment amid a city-wide housing crunch.
The Brooklyn Bridge and One World Trade Center along the Manhattan skyline in New York, US, on Tuesday, Dec. 30, 2025. New York City is staring down a $10 billion budget gap next fiscal year, reflecting slowing tax collections and uncertainty over federal funding streams.
Brightline Trains Florida LLC, the struggling private rail line connecting Orlando to Miami, is working with Perella Weinberg Partners on a potential debt restructuring and equity raise, according to people familiar with the matter.
Brightline Trains Florida LLC, the struggling private rail line connecting Orlando to Miami, is working with Perella Weinberg Partners on a potential debt restructuring and equity raise, according to people familiar with the matter.
Brightline Trains Florida LLC, the struggling private rail line connecting Orlando to Miami, is working with Perella Weinberg Partners on a potential debt restructuring and equity raise, according to people familiar with the matter.
Brightline Trains Florida LLC, the struggling private rail line connecting Orlando to Miami, is working with Perella Weinberg Partners on a potential debt restructuring and equity raise, according to people familiar with the matter.
Moody’s Ratings lowered its outlook on New York City to negative, citing the “sizable and persistent” budget shortfalls it’s facing.
The Brooklyn Bridge and One World Trade Center along the Manhattan skyline in New York, US, on Tuesday, Dec. 30, 2025. New York City is staring down a $10 billion budget gap next fiscal year, reflecting slowing tax collections and uncertainty over federal funding streams. Photographer: Michael Nagle/Bloomberg
Thinning reserves and negative cash flows will likely lead Brightline Trains Florida LLC to restructure its debt within the next six months, according to S&P analysts who downgraded the struggling private rail line deeper into junk territory this week.
Thinning reserves and negative cash flows will likely lead Brightline Trains Florida LLC to restructure its debt within the next six months, according to S&P analysts who downgraded the struggling private rail line deeper into junk territory this week.
Passengers board a Brightline train in Aventura, Florida.
The largest US public pension isn’t fazed about tremors in the private credit market driven by artificial intelligence’s potential threat to software, according to its chief executive officer, Marcie Frost.
The largest US public pension isn’t fazed about tremors in the private credit market driven by artificial intelligence’s potential threat to software, according to its chief executive officer, Marcie Frost.
A New Jersey town and owners of the American Dream mall colluded to reduce the assessed value of the shopping and entertainment complex in a move that now jeopardizes repayment of $800 million in municipal debt, bondholders alleged in a lawsuit.
A New Jersey town and owners of the American Dream mall colluded to reduce the assessed value of the shopping and entertainment complex in a move that now jeopardizes repayment of $800 million in municipal debt, bondholders alleged in a lawsuit.
Indoor ice skating rink at the American Dream mall in East Rutherford, New Jersey. Photographer: KENA BETANCUR/AFP
A unit of Aon Plc agreed to settle a class-action lawsuit alleging that calculation errors and faulty investment advice caused Pennsylvania public school teachers to make millions of dollars in extra contributions to their pension fund.
A unit of Aon Plc agreed to settle a class-action lawsuit alleging that calculation errors and faulty investment advice caused Pennsylvania public school teachers to make millions of dollars in extra contributions to their pension fund.
US public pensions could pay almost 90% of promised benefits if investment gains made in the first half of the fiscal year persist over the next six months, but risks are also climbing, according to S&P Global Inc.
US public pensions could pay almost 90% of promised benefits if investment gains made in the first half of the fiscal year persist over the next six months, but risks are also climbing, according to S&P Global Inc.
Traders work during the BitGo initial public offering (IPO) on the floor at the New York Stock Exchange (NYSE) in New York, US, on Thursday, Jan. 22, 2026. BitGo Holdings Inc. shares are indicated to open at $21.50 each on Thursday, about 19% above the initial offering price of $18 each. Photographer: Michael Nagle/Bloomberg
Brightline Trains Florida, the Fortress Investment Group-backed passenger railroad, skipped its second interest payment on $1.2 billion of subordinate municipal bonds.
Brightline Trains Florida, the Fortress Investment Group-backed passenger railroad, skipped its second interest payment on $1.2 billion of subordinate municipal bonds.
Nicolas Petrovic is staking his reputation on turning around Brightline Holdings LLC as he takes over as chief executive officer of the struggling private rail operator.
Nicolas Petrovic is staking his reputation on turning around Brightline Holdings LLC as he takes over as chief executive officer of the struggling private rail operator.
A Brightline train in Miami, Florida, US, on Thursday, Feb. 1, 2024.
Pawtucket, Rhode Island’s bet that a new 10,500-seat soccer stadium along the Seekonk River can jump-start its fading mill-town economy has already paid off handsomely for one boutique investment firm.
Pawtucket, Rhode Island’s bet that a new 10,500-seat soccer stadium along the Seekonk River can jump-start its fading mill-town economy has already paid off handsomely for one boutique investment firm.
A US Open Cup game at Centreville Bank Stadium in Pawtucket on May 7, 2025. Photographer: Mark Smith/ISI Photos/USSF/Getty Images
Aging baby boomers are boosting the senior living sector, just a few years after the Covid-19 pandemic pushed almost 100 facilities funded by municipal bonds into default.
Aging baby boomers are boosting the senior living sector, just a few years after the Covid-19 pandemic pushed almost 100 facilities funded by municipal bonds into default.
Democratic Mayor-elect Zohran Mamdani, facing a deficit of as much as $10 billion in the next fiscal year, named a veteran of three mayoral administrations as New York City’s budget director.
Democratic Mayor-elect Zohran Mamdani, facing a deficit of as much as $10 billion in the next fiscal year, named a veteran of three mayoral administrations as New York City’s budget director.
Brightline, the private rail line between Miami and Orlando, said it’s considering issuing $100 million in additional debt for operations and to pay potential legal claims, according to its latest ridership and revenue report.
Brightline, the private rail line between Miami and Orlando, said it’s considering issuing $100 million in additional debt for operations and to pay potential legal claims, according to its latest ridership and revenue report.
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