Businesses and government offices will be closed Thursday, Nov. 28 in observance of Thanksgiving Day.
City and county offices will be closed on Thanksgiving Day but police, sheriff, fire and other emergency services will remain in operation. City offices will be closed Thursday, Nov. 28, as well as county offices.
Members of Argentina's banking association, known as Adeba, are working on a last-minute plan to help the country avoid default, according to people familiar with the matter. News of the plan came as Argentina's economy minister said late Tuesday that the country would continue negotiations on Wednesday with holdout investors after failing to reach a deal during a full day of talks. Argentina needs to reach an agreement with the investors by Wednesday to prevent a default, which would be its second in 13 years. Meanwhile, Argentina's representatives and the holdout creditors met face to face for the first time Tuesday, the court-appointed mediator, Daniel Pollack, said in a statement after the talks had concluded.
Bill Gross, manager of the world's largest bond fund at Pimco, said Wednesday that income, rather than capital gains, would drive future investment returns. "Capital gains from almost all asset classes are approaching dusk," Gross said in his latest monthly letter to investors. "Low but relatively dependable income will be the market's future driver." Income is characterized as the interest payout on an asset, whereas capital gains are known to be the price gains on an asset.