Bloomberg Puerto Rico will default on a $422 million bond payment for its Government Development Bank, escalating what is turning into the biggest crisis ever in the $3.7 trillion market that U.S. state and local entities use to access financing. Governor Alejandro Garcia Padilla invoked a debt moratorium law approved last month, saying during a televised address that the …

  Geneva / AFP Fresh air strikes pummelled the Syrian city of Aleppo on Monday as US Secretary of State John Kerry made a desperate bid to salvage a two-month ceasefire in the war-torn country. The top US diplomat gave some of his most downbeat comments yet after meeting the UN peace envoy on Syria, saying the conflict was “in …

  Baghdad / AFP A car bomb targeting Shiite pilgrims killed at least 14 people in southern Baghdad on Monday, security and medical sources said. An Iraqi security command said a suicide bomber detonated the explosives-rigged vehicle, while other officials said it was a car bomb. At least 14 people were killed and at least 41 others wounded, security and medical …