Investors are losing interest in a proposed $2.9 billion bond deal that would provide a financial lifeline for Puerto Rico after three prominent legislators called for debt restructuring, according to three investor sources. Puerto Rico is struggling with more than $70 billion in total debt and must overcome opposition from local lawmakers as well as demands from investors for extra security as it attempts to sell more debt. Meetings between government officials and investors are likely this week as expectations grow that Puerto Rico could undertake a wider debt restructuring than initially thought, the source close to the deal said. Three Popular Democratic Party lawmakers announced last week would file legislation to amend the constitution to enable Puerto Rico's general obligation debt to be restructured.
(Reuters) - One hiker was killed and another injured when a seaside cliff collapsed at a park in California and sent giant boulders and earth plunging onto the beach below, officials have said. A photograph taken from a sheriff's office helicopter showed the devastation following Saturday's collapse of part of the Arch Rock overlook at the Point Reyes National Seashore, about 40 miles northwest of San Francisco. The National Park Service said the area had been closed to the public for safety reasons since Thursday when large fissures appeared at the top of Arch Rock, weakening the cliff. The park service said bluffs on California's coast are inherently unstable and prone to crumbling.
LINDEN, N.J. (AP) — Two New Jersey police officers were still in critical but stable condition Monday, days after they were involved in a wrong-way crash in New York City that killed a third officer and a friend.
CARRABASSETT VALLEY, Maine (AP) — In a story March 21 about a chairlift accident, The Associated Press quoted a ski industry consultant who provided the wrong age of the lift. The chairlift is 27 years old, not 37 years old.
By Lawrence Hurley WASHINGTON (Reuters) - The U.S. Supreme Court on Monday declined to hear an appeal filed by Texas death row inmate Lester Bower, including his assertion that three decades on death row amount to cruel and unusual punishment. Bower, 67, is one of the longest-serving prisoners on death row in Texas. He was sentenced to death for murdering four men in 1983 in an aircraft hangar near Sherman, Texas.
By Lawrence Hurley WASHINGTON (Reuters) - The U.S. Supreme Court on Monday agreed to hear a Louisiana man's appeal of a sentence of life in prison without parole that he received for murdering when he was 17 years old a police officer in 1963. The inmate, Henry Montgomery, is asking to be resentenced.