Britain's credit standing took a further blow when Fitch Ratings became the second major international agency to strip the country of its top-notch credit rating. The move is an embarrassment for the Conservative-led government which promised to protect the country's rating when it took power in 2010, and will heighten the debate about whether austerity is still the right approach.
Two US hedge funds suing Argentina for full payment on defaulted bonds rejected on Friday, President Cristina Fernandez government offer to settle the suit with a deal that would give them approximately 25% of what they were seeking.
Argentines are expecting an inflation of 34.2% in the coming twelve months according to the average from a monthly report released by a prestigious private university research centre based on surveys,
Argentina's new inflation measure is not enough to overcome the International Monetary Fund's censure of the country for inadequate data, an IMF official said Friday.
Brazilian plane maker Embraer SA said on Friday that it ended talks with AgustaWestland, a subsidiary of Italy's Finmeccanica, without reaching an agreement to form a joint venture.
Brazil’s Finance Minister Guido Mantega slammed the United States and Europe for repeatedly delaying reforms of their dominated shareholding and voting power in the International Monetary Fund (IMF).
Falkland Islands Holdings, which owns the Falkland Islands Company, FIC, expects to report a slight fall in annual profits but anticipates a quantum leap in the Falklands’ economy over the next decade with the oil industry and the commencement in 2014 of the Sea Lion project.
UK independent oil and gas Premier Oil company said that the Falkland Islands Sea Lion project is one of their biggest operations undertaken to date involving an investment of 5 billion dollars with first oil expected sometime in 2017.
Argentine Economy Minister Hernán Lorenzino is in Washington ready to start his official activities in the margins of the 2013 International Monetary Fund and World Bank Spring meeting.
IMF chief Christine Lagarde has been summoned to appear before a French magistrate on May 23 for questioning over an arbitration payment to a wealthy supporter of former President Nicholas Sarkozy, news website Mediapart reported.