Stories for May 5th 2010

Wednesday, May 5th 2010 - 06:43 UTC
Néstor Kirchner as UNASUR Secretary General is an “Embarrassment”

Néstor Kirchner's appointment as UNASUR Secretary-General is “an embarrassment” because “he doesn't believe in dialogue or diplomacy, or the organization as a whole”, claimed dissident Argentine lawmaker Eduardo Amadeo, interviewed by the Buenos Aires Herald.
Wednesday, May 5th 2010 - 06:35 UTC
Greek Aid Package Hard to Sell: Stock Markets World Wide Fall Sharply

Stock markets fell sharply Tuesday as concerns about high levels of European government debt continue to shake investor confidence. The Euro fell to a 13-month-low against the dollar, dropping to 1.3004, after earlier slipping below the 1.30 mark.
Wednesday, May 5th 2010 - 06:33 UTC
Australia Raises Interest Rate for the Sixth Time in Eight Months

Australia's central bank has raised interest rates for the sixth time in eight months as the country's economy continues to recover. The target interest rate is now at 4.5%—up from 3% in October last year.
Wednesday, May 5th 2010 - 06:28 UTC
EU Anticipates Further Regulation for Credit Rating Agencies

A European Commissioner has warned it may be necessary to further regulate the role of credit rating agencies. Michel Barnier, in charge of revamping financial services, told the European Parliament he had been surprised by the rapid deterioration of Greece's rating.
Wednesday, May 5th 2010 - 06:24 UTC
Sale of French Frigates to Taiwan Exposes 591 Million USD in “Commissions”

Taiwanese President Ma Ying-jeou and Premier Wu Den-yih praised the decision this week by an international court of arbitration to force French defence group Thales to pay Taiwan more than 591 million US dollars as a sanction for the payment of commissions in the purchase of Lafayette frigates from France.
Wednesday, May 5th 2010 - 06:15 UTC
Argentine Judge Annuls Gay Marriage; Congress Debates Same Sex Civil Unions

An Argentine national judge annulled on Tuesday a gay marriage between an Argentine national and a French businessman which took place five days ago, according to the Argentine news agency Telam.
Wednesday, May 5th 2010 - 06:14 UTC
China’s Tightens Credit, Pushes Stock Markets to their Lowest in Seven Months

China's stocks fell on Tuesday sending the benchmark index to the lowest in seven months, on concern ordering banks to set aside more reserves won't be enough to avert asset bubbles in the world's third-largest economy.
Wednesday, May 5th 2010 - 06:07 UTC
Obama Administration Pushes for Fee on Large Banks to Pay for Bailouts

United States big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, US Treasury Secretary Timothy Geithner told lawmakers as he sought support for the proposal.
Wednesday, May 5th 2010 - 06:03 UTC
IMF Anticipates Good Prospects for Argentine Defaulted Bond Swap

Given the high levels of global liquidity, Argentina should succeed in restructuring its 20 billion US dollars in defaulted bonds according to a senior official from the International Monetary Fund.
Wednesday, May 5th 2010 - 06:00 UTC
Argentine Dictatorship Former Economy Minister Arrested Accused of Kidnapping

Former economy minister José Martínez de Hoz, the economic brains behind the 1976-1983 military dictatorship, has been arrested and transferred to a clinic after an amnesty law was lifted, a court official has said.