Bloomberg reports that Puerto Rico’s restructuring plan can move forward, with the passage of a new law that allows the island to sell bonds. This resolves Puerto Rico’s dispute with the commonwealth’s financial oversight board, which threatened to derail its bankruptcy case. [Bloomberg; Oct. 28, 2021]
Reporting from Reuters indicates that the economy grew at its slowest pace in over a year in the third quarter, following the resurgence in COVID-19 cases, global supply chain issues, and shortages of goods. [Reuters; Oct. 18, 2021]
NPR analyzes Guitar Center’s emergence from bankruptcy, and its reported intentions to go public less than one year later, as retail spending on musical instruments went up during the pandemic. [NPR; Oct. 20, 2021]