Stories for November 4th 2012
Earlier in the week Standard & Poor’s ratings services lowered to ‘B-’ from ‘B’ its unsolicited long-term sovereign credit rating on Argentina and on Friday the ratings agency said it is taking a similar rating actions on four Argentine banks and 16 Argentine corporations.
Fourteen million hectares are affected by floods in Argentina’s prime farm land provinces and the presence of water jeopardizes the harvest of grains, according to farming sector leaders.
By Gwynne Dyer - By the end of November 6, we will know who will be the president of the United States for the next four years. We already know who will be the leader of China for the next 10 years, although Xi Jinping will not be officially installed in power until a few days later. But some would argue that that is the more important event.
Peru slashed its commercial fishing quota as warmer water temperatures and controversial practices deplete stocks of anchovy in one of the world’s richest fisheries. The government cut its quota for this summer’s anchovy season by 68% to 810.000 tons, the smallest allowance in 25 years.
Argentine Economy Minister Hernán Lorenzino and Central Bank Governor Mercedes Marcó del Pont are leading the country’s delegation in the technical G20 meeting in Mexico, where they are expected to insist on the government’s criticisms against ‘vulture funds’ and credit rating agencies.