Stories for August 2015

Friday, August 21st 2015 - 06:34 UTC
Shanghai Composite's 'virus' reaches Western markets

Asian stocks saw sharp falls on Friday as mounting concerns over China's slowing economy continued to affect global markets. It follows big falls in US and European markets on Thursday, with the Dow Jones dropping more than 2%.
Friday, August 21st 2015 - 06:17 UTC
California sinking as pumping groundwater continues in response to historic drought, says NASA

California's Department of Water Resources released a new NASA report showing land in the San Joaquin Valley is sinking faster than ever before, nearly 5 centimeters per month in some locations, as Californians continue pumping groundwater in response to a historic drought.
Friday, August 21st 2015 - 06:05 UTC
“What purpose has the past four years of insults toward Gibraltar served?”

Spain’s Foreign Minister, José Manuel García-Margallo, came under flak from the opposition PSOE for his ‘frivolous and inappropriate’ comments about Gibraltar, which were dubbed ‘Francoist’ by one Socialist politician, reports the Gibraltar Chronicle.
Friday, August 21st 2015 - 05:54 UTC
Malvinas pic controversy: “Francis spoke with his low tone but strong voice”

Despite the controversy generated by Wednesday picture which showed Pope Francis holding a banner calling for dialogue between the United Kingdom and Argentina over the Falkland/Malvinas Islands, and later a spokesperson's dismissal of the significance of the incidence, the best definition of what really happened seems to have come from Argentina's cabinet chief Anibal Fernandez in his daily media conference, “the pontiff”, he said, spoke with his “low tone but strong voice”.
Thursday, August 20th 2015 - 07:30 UTC
Pope Francis quashes any attempt to foster Falklands/Malvinas dialogue

Pope Francis was sucked into Argentina's dispute with Britain over the Falkland Islands after an activist thrust a sign in his hands calling for dialogue between the two countries and President Cristina Fernandez jumped on the opportunity to rekindle the fight.
Thursday, August 20th 2015 - 07:28 UTC
Argentine and Chilean navies in Beagle channel joint sea and air exercise

Argentina and Chile are holding their annual joint naval exercise in the Beagle channel, in the framework of the 1984 Friendship Treaty, to test their combined sea an air capabilities in the region. This includes emergency and humanitarian situations; maritime traffic control as well as search and rescue operations, operating from Puerto Williams in Chile.
Thursday, August 20th 2015 - 07:07 UTC
Two lady leaders under fire, meet in Brazil hoping to recover ground

Chancellor Angela Merkel, Foreign Minister Frank-Walter Steinmeier and several other high-ranking German politicians touched down in Brazil's capital, Brasilia late Wednesday. The German delegation set off on its 12-hour flight immediately after a Bundestag vote approving a new bailout package for Greece.
Thursday, August 20th 2015 - 07:02 UTC
Victory for Rousseff: Senate passes major bill of fiscal austerity plan

Brazil's Senate approved a bill to roll back payroll tax breaks on Wednesday that is a key measure in President Dilma Rousseff's efforts to reduce a gaping fiscal deficit and restore confidence in her government's accounts. The Senate voted 45-27 to pass the bill which was received from the lower house with no changes.
Thursday, August 20th 2015 - 06:54 UTC
Volatile Shanghai Composite down again on Thursday despite Beijing's efforts

After days of volatility Chinese equities traded lower once again on Thursday, despite Beijing's efforts to calm markets. The mainland's benchmark Shanghai Composite was 1.3% down to 3,751.48 points.
Thursday, August 20th 2015 - 06:42 UTC
Brazilian major contractor admits guilt in Petrobras' massive corruption scheme

Camargo Correa Construcoes e Participacoes, one of Brazil's largest construction companies, has admitted its role in a massive scheme to overcharge state-controlled oil company Petrobras and agreed to cooperate in the investigation as part of a leniency deal, anti-trust agency Cade said Wednesday.