Yesterday Puerto Rico kicked off the biggest bankruptcy case in America’s history. Public-sector debts total almost $74bn (around 100% of GNP). The territory’s politicians have made it clear for years that it cannot pay up, but a change in American law was needed to offer an escape route. Working out which of Puerto Rico’s creditors take priority will now bring a protracted legal battle, writes our United States economics editor
Trump tells Canada, Mexico he won’t terminate NAFTA - The White House says US President Donald Trump has told both Prime Minister Justin Trudeau and Mexico’s president that he has agreed not to terminate the North American Free Trade Agreement at this time.