New Orleans officials on Wednesday abandoned their pursuit of a $125 million loan to shore up the city’s budget, and appeared to fend off - at least for now - the potential state takeover of city finances.

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A push by top state officials that could have led to a takeover of the city of New Orleans’ finances has stalled after city leaders on Wednesday withdrew a request to borrow $125 million to address a massive 2025 budget shortfall.

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NEW ORLEANS — The New Orleans City Council announced Wednesday that the city is withdrawing its request for a $125 million bond to cover payroll for the rest of the year. Council members said state officials would not approve the bond without appointing a fiscal administrator, a role that would grant sweeping control over the city’s finances.

A fatal hit-and-run occurred in New Orleans Thursday, Oct. 30. According to the New Orleans Police Department, the incident occurred at the intersection of Chef Menteur Highway and Bundy Road. The victim was declared dead on the scene.

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The incident happened Thursday afternoon at the McDonald's at the intersection of South White and Canal Street.

The Archdiocese of New Orleans secured nearly unanimous approval for a $230 million bankruptcy settlement on Thursday, paving the way for payouts to over 650 victims.

Nurses at University Medical Center New Orleans (UMCNO) announced Thursday that they will hold a three-day strike in November over staff retention concerns amid ongoing contract negotiations.

It’s likely the city would still need to cut some services even if the rainy day fund is used. New Orleans spends $22 million every two weeks to make payroll for its 5,000 employees, and the city currently has cash on hand to make payroll through Nov. 12.