Tim Reid

Treasury says debt payments could be prioritized in default scenario

August 25, 2021 at 4:50 a.m.

LOS ANGELES (Reuters) - The Treasury Department has admitted for the first time that the government is technically capable of prioritizing payments if Congress triggers a default crisis by failing...

Treasury says debt payments could be prioritized in default scenario

May 23, 2019 at 9:37 p.m.

LOS ANGELES (Reuters) - The Treasury Department has admitted for the first time that the government is technically capable of prioritizing payments if Congress triggers a default crisis by failing...

At Nixon library, tension over how to portray a disgraced president

August 25, 2021 at 4:24 a.m.

YORBA LINDA, California (Reuters) - Nearly 40 years after President Richard Nixon resigned in disgrace because of the Watergate scandal, the debate over how his legacy should be defined seems...

In California drought, big money, many actors, little oversight

August 25, 2021 at 4:21 a.m.

(Reuters) - In the middle of one of the worst droughts in California's history, no one knows exactly how many agencies supply the state with water. While state regulators supervise...

Los Angeles should adopt Warren Buffett pension formula: study

August 25, 2021 at 3:51 a.m.

LOS ANGELES (Reuters) - Los Angeles, faced with nearly $10 billion in unfunded pension and retirement liabilities, should adopt the pension formula used by investor Warren Buffett at Berkshire Hathaway...

Long California drought could hit utility ratings, Fitch says

November 4, 2021 at 1:34 a.m.

(Reuters) - A prolonged drought in California could lead to ratings downgrades on the state's water and public power utilities unless they show a willingness to raise prices, according to...

Long California drought could hit utility ratings, Fitch says

December 23, 2018 at 11:13 p.m.

(Reuters) - A prolonged drought in California could lead to ratings downgrades on the state's water and public power utilities unless they show a willingness to raise prices, according to...

GM recall a ‘thunderbolt’ for auto dealers who want faster fix

August 25, 2021 at 3:02 a.m.

(Reuters) - General Motors dealers are frustrated the automaker is not telling them more about the recall of 1.6 million cars after a string of deadly accidents, and many say...

California pension reform measure abandoned after court ruling

August 25, 2021 at 2:58 a.m.

(Reuters) - Backers of a ballot measure to cut California's public pensions, which was seen as a model for other states, abandoned their campaign to win voter support on Friday...

U.S. public pensions need more than investment windfall

December 23, 2018 at 10:39 p.m.

(Reuters) - Double-digit annual returns for most U.S. public pension systems over the past two years have done little to shrink the yawning deficits facing many of them after a...

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