By Nelson Bocanegra

BOGOTA, Oct 5 (Reuters)Colombia plans to substitute some of its planned 2020 financing in dollars for a local debt emission of about 5 trillion pesos ($1.28 bln), three market sources with knowledge of the plan told Reuters on Monday.

The ministry will extend auctions of local so-called TES bonds until November in order to raise the projected funds.

TES paper is the country’s second top source of financing after tax collection.

The Finance Ministry plans to move ahead with pre-financing needs for 2021 and is considering an internal debt swap on the local market, the sources said.

The ministry did not have an immediate response to a request for comment.

In early September, director of public credit Cesar Arias told Reuters Colombia would carry out public debt swaps with multilateral banks to reduce its exchange rate exposure amid higher debt due to coronavirus and evaluate opportunities to extend expiries on local bonds.

Colombia has been obliged to look for billions of dollars in funding by issuing bonds and obtaining credit with organizations like the Inter-American Development Bank to deal with economic upheaval from the coronavirus pandemic. The efforts have increased its exposure to international exchange rates.

The International Monetary Fund increased the country’s flexible credit line late last month to $17.3 billion to help it weather the crisis. The government may release about $5.3 billion.

The credit line, valid until April 2022, was originally for $10.8 billion.

($1 = 3,881.80 Colombian pesos)

(Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Leslie Adler and David Gregorio)

(([email protected]; +57-316-389-7187))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source Article

WASHINGTON (Reuters) – U.S. employers announced another 118,804 job cuts in September, with bars, restaurants, hotels and amusement parks leading the pack amid sluggish demand several months after the COVID-19 pandemic struck the nation.

The layoffs reported by global outplacement firm Challenger, Gray & Christmas on Thursday were up 2.6% from August and boosted total job cuts so far this year to a record 2.082 million. The previous all-time annual high was 1.957 million in 2001. Job cuts totaled 497,215 in the third quarter, down 59.8% from second quarter.

Companies announced 929,860 hiring intentions last month, bringing the total this year to 2.673 million. McDonald’s announced it would add 260,000 jobs as it reopens restaurants.

“We are setting new records for job cuts even though things have improved since the earliest days of the pandemic,” said Andrew Challenger, senior vice president at Challenger, Gray.

The rise in layoffs comes as companies have burned through government loans to help with wages. Funding for a reduced subsidy for the unemployed is also close to running out. Economists have warned that the labor market and broader economic recovery could sputter without another rescue package.

Companies attributed the planned layoffs last month to market conditions, weak demand, restructuring and COVID-19.

There were 32,099 job cuts at bars, restaurants, hotels and amusement parks in September, an 86% jump from August. That brought the total this year to 831,150. Walt Disney said on Tuesday it would lay off roughly 28,000 employees in its theme parks division.

The aerospace/defense announced 18,971 layoffs last month. There were 16,628 cuts in the transportation sector.

“Especially if another relief package fails to pass, employers are going to enter the fourth quarter hesitant

to invest or spend,” said Challenger.

The Labor Department will publish its closely watched, and broader, monthly employment

After nearly four decades of sporting events and concerts, more than 20,000 people gathered in April 2010 to watch as an implosion leveled Texas Stadium in Irving.

The stadium, which opened in October 1971, was known as the home of the Dallas Cowboys. It was also recognized for its gaping hole at the top of the stadium, a result of abandoned plans for a retractable roof. In the 1980s and 1990s, The Jacksons, Madonna and Willie Nelson performed at the stadium to crowds of 65,000 people.

After the Cowboys moved to AT&T Stadium in Arlington, the site of the former Texas Stadium has remained vacant. That’s why reader Don Walther asked Curious Texas: “What is being planned for the former Texas Stadium site in Irving?”

The city of Irving leased the site to the Texas Department of Transportation to be used as a staging area for a construction project, said Philip Sanders, assistant city manager for the city of Irving. The News reported in July that the site will be part of a major construction project called the Diamond Interchange.

Texas Stadium, long before its implosion in 2010, is seen in this file photo from 1971. Irving hopes to fill the now-vacant site with mixed-use development.

The $355 million project will begin in Octobe. It, will interconnect Highway 114, State Highway 183 and Loop 12. The diamond interchange will be constructed by TxDOT and is expected to be completed in 2025, according to a news release.

“After it’s complete, what will happen is it will provide much better access to the properties in and around the convergence of those three highways,” Sanders said.

Another piece of infrastructure being added to the site of the former stadium is a 500-foot “Signature Bridge” that will span SH 114. The bridge, slated to be finished by the end of the year, will connect from the site to a new Dallas Area Rapid Transit (DART) Orange Line Station and more

A new report on terrorism financing shows that for most Americans who sought to join or support ISIS, the trip was cheap and the money came easily, making it harder for investigators to track would-be terrorists.



a person walking down a street next to tall buildings


© Provided by NBC News


“[S]ave for a few exceptions, the vast majority of U.S.-based IS supporters left a remarkably small financial footprint,” said the report, which contrasted the low cost of funding ISIS terror with the Al Qaeda’s big budget. The small footprint “can represent a challenge for investigators, which often rely on financial operations to uncover terrorism-related individuals and as evidence in prosecutions against them.”

The report, by the George Washington University Program on Extremism and the federally funded National Counterterrorism, Innovation, Technology, and Education Center at the University of Nebraska-Omaha, examined 209 individuals charged with ISIS-tied crimes from 2013 until August of this year.

Most of those charged were able to use their personal savings for their alleged terrorist activities. One would-be jihadi used a tax refund, and others sold cars, laptops and items as small as phones and shoe racks to pay for plane tickets or weapons.

“Since most of their expenses … were no higher than a few thousand dollars,” said the report, “this could sustain them.”

Very few of those arrested had a criminal background — a stark contrast to those arrested for ISIS related activities in France, Spain, and other parts of Europe, the study found. Just four cases had connections to with violent crime and drug trafficking.

Where Does ISIS Get Its Money?

UP NEXT

UP NEXT

Most of the attacks that have been attributed to ISIS in the U.S., including the San Bernardino attack, the Pulse Nightclub shooting, and the Manhattan truck ramming incident, have cost very little money.

The U.S.’s system of