Argentina bonds in dollars, protected by local legislation fell the most in four months after President Cristina Fernandez announced she’s sending a bill to Congress to reopen the debt swap so that holders of the 7% of pending non restructured debt can normalize their situation in similar conditions.
Brazil's economy is going through a mini crisis stemming from global markets turbulence made worse by confusing messages from the US Federal Reserve, complained Finance Minister Guido Mantega.
The US Federal Reserve must consider when and how fast it unwinds its economic stimulus to avoid harming emerging market economies, senior Chinese officials said on Tuesday. Financial markets are uneasy because the US Fed might decide to reduce its monthly bond buying when it meets on Sept 17 and 18.
The unexpected warm summer boosted trading at Britain’s hotels, pubs and restaurants as holiday makers took advantage of the soaring temperatures, a new report shows. But profits were hit due to the double whammy of rising raw materials costs and fierce competition that kept prices low, says the CBI’s quarterly service sector survey.
Initial estimates on foreign tourist purchases in London during this summer season are estimated to be worth £4 billion. Official statistics have not yet been disclosed. The contribution of Arab citizens to this figure is estimated to be worth £1.3 billion, says the British Commercial Association.
Almost 70% of the groundwater stored in parts of the United States' High Plains Aquifer, a vast underground reservoir that stretches through eight states, from South Dakota to Texas, and supplies 30% of the US irrigated groundwater, could be used up within 50 years unless current water use is reduced, a new study finds
It's time to step out from my 'normal' role as the 'energy expert' and make a comment or two on the markets in general, just as a professional trader who's seen quite a bit in his almost 3 decades of daily experience with capital markets and the way they act. Patterns emerge that aren't foolproof, but they've served well over the years and they are making some very visceral noises to me, even observing the action at longer range on vacation.
Argentina will send a bill to Congress this week to reopen a debt restructuring for those creditors who haven’t accepted previous swaps after the nation’s 2001 default, said President Cristina Fernandez Monday evening on national television.
Uruguay’s Deputy Economy minister Alejandro Antonelli denied any ‘short-circuits’ in the government regarding the Royal Bank of Canada’s raid incident, just a ‘matter of differences’, but insisted that the whole issue is positive for Uruguay since it shows the country’s commitment in combating money laundering and other possible financial crimes.
Argentine Economy minister Hernán Lorenzino said that the New York appeals court ruling supporting Judge Thomas Griesa decision in favour of paying the hedge funds the 1.3bn dollars they are demanding, was an attempt to take the country back to 2001.