Stories for November 10th 2012

Saturday, November 10th 2012 - 06:12 UTC

Argentine president criticizes lack of political leadership to present alternative model

Cristina Fernandez recovering the political initiative

Reacting to Thursday massive protest against the government which convened hundreds of thousands of Argentines in the country and overseas, President Cristina Fernandez said that the real problem is the lack of a political leadership that can represent an alternative model to that which has been so successful for the majority of Argentines.

Saturday, November 10th 2012 - 06:08 UTC

Colombia breaks isolation ring imposed on Paraguay by Unasur

Ambassador Alberto Barrantes is back in Asunción after an absence of four months

Colombia confirmed on Friday that its ambassador in Paraguay, Alberto Barrantes had returned to Asunción, four months after the political crisis triggered by the removal from office of Fernando Lugo and his replacement by President Federico Franco

Saturday, November 10th 2012 - 05:32 UTC

Judge Griesa warns Argentina on defying paying holdout bondholders

US District Judge Thomas Griesa

US District Judge Thomas Griesa told Argentina it should not even consider evading a recent ruling requiring it to pay bondholders who did not participate in two major debt restructurings after the country's 2002 default.

Saturday, November 10th 2012 - 05:08 UTC

Next week takes off the ‘fiscal cliff’’ battle with meeting in White House of party leaders

Boehner, leader of Republican-controlled House of Representatives has had a conciliatory attitude towards Obama since re-election

Newly re-elected President Barack Obama said on Friday the wealthy must pay more taxes under any political deal to avert a looming budget crisis. He said Congress must act against the so-called fiscal cliff, a package of tax rises and spending cuts due early next year.

Saturday, November 10th 2012 - 05:01 UTC

Republican Party needs a “bigger tent” to adapt to changing demographics

Former Secretary of State Condoleezza Rice: Republicans sent ‘mixed messages’

Former US Secretary of State Condoleezza Rice said the Republican Party must adapt rapidly changing demographics in the United States to remain politically relevant.

Saturday, November 10th 2012 - 04:46 UTC

Major group plans cash-tender offer for low cost airline Barcelona-based Vueling

IAG CEO Willie Walsh said Vueling would remain as a stand-alone entity

International Airlines Group has reaffirmed that it would keep Vueling as a stand-alone entity within the group if it completes its plan to acquire the outstanding shares in the Barcelona-based low-cost carrier.

Saturday, November 10th 2012 - 04:40 UTC

Iberia survival plan: slash quarter of jobs, cut 15% network and downsize fleet

CEO Sanchez-Lozano: Iberia ”is unprofitable in all its markets”

Loss-making Iberia on Friday announced plans to axe 4.500 jobs to save Spain's biggest airline from collapse and warned more cuts could follow against the backdrop of economic crisis in the Euro zone country.

Saturday, November 10th 2012 - 02:35 UTC

China forecasted to become world’s largest economy, ahead of the US in 2016

OECD Secretary General Gurria is also cautious about the report: “no forecasts set on stone”

China is projected to overtake the US to become the world's largest economy as early as 2016, according to a report by the Organization for Economic Co-operation and Development (OECD) released on Friday.

Saturday, November 10th 2012 - 02:20 UTC

Argentine armed sailors prevent Ghana port officials from moving ARA Libertad

Ghana solicitors defending the vessel argue the appeal implies “an automatic stay of execution” of seven days

Armed sailors on board the detained Argentine ARA Libertad frigate in Ghana threatened to open fire on Ports and Harbours Authority (GPHA) officials, if they attempted to move the ship from berth 11 to berth six, at the Tema Port, according to reports of “The Chronicle” local newspaper.

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