Texas Senate approves a $250B budget - but questions remain about how federal aid will be used
Cassandra Pollock, The Texas Tribune
April 7, 2021
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Glenn Hegar, Comptroller, Texas Comptrollerof Public Accounts, speaks Tuesday March 20, 2018 at the Texas State Capitol in Austin. He testified to the Senate Finance Committee about a proposal to invest the rainy day fund in items that may yield better returns than the current investment plan.John Davenport, STAFF / San Antonio Express-News
The Texas Senate unanimously signed off on a two-year, $250 billion state budget Tuesday, though there are still questions about how tens of billions of dollars in expected federal aid will be used and whether it will arrive in time for lawmakers to use this legislative session.
Texas Senate approves a $250 billion state budget — but questions remain about how federal aid will be used
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Texas Senate s 2022-2023 state budget doesn t yet account for federal aid
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At the same date, total borrowings amounted to $3.38bn, capital commitment was $1.16bn and cash and cash equivalents (excluding bank overdrafts) were $242.8m.
Hit hard by the COVID-19 pandemic which suspended most ship operations and temporarily shuttered its shipyards, Genting HK has been engaged in restructuring efforts since last August.
The group obtained a debt holiday for 2020 borrowings that amounted to $151.4m originally due and payable by the end of 2020. Without further extension, these borrowings are to be paid from April.
Restructuring negotiations progressing
At year s end, Genting HK was in default for principal on borrowings totaling $3.39bn. This week, the group received a letter from major creditors for $1.74bn of that, acknowledging significant progress in the restructuring negotiations and that credit approval processes were under way to be able to enter into binding terms.
Hibbing, MN, USA / 93.9 WTBX
Apr 1, 2021 12:28 PM
FRANKFURT (Reuters) - Lufthansa said on Thursday it would seek approval for a possible capital increase of up to 5.5 billion euros at its annual general meeting in May.
The German air carrier said any proceeds of any capital increase would be mainly used to repay Germany s Economic Stabilization Fund (WSF), which bailed out the airline last year when the coronavirus pandemic halted global travel.
Lufthansa shares ended 3% lower on Thursday, the worst performer of Germany s MDAX mid-cap index.
(Reporting by Klaus Lauer; writing by Tom Sims; editing by Chris Reese) ); } return false; }); $( #comments .commentlist .comment-content a ).attr( target , blank );