US President Barack Obama has signed into effect a wave of steep spending cuts which he has warned could damage the US economy. The cuts - known as the sequester and drawn up two years ago will take 85bn dollars from the US federal budget this year.
President Cristina Fernández defended on Friday her debt reduction policies and blasted the so-called vulture funds and multilateral organizations but also admitted Argentina was willing to pay holdouts on the same conditions that those who accepted the 2005 and 2010 debt restructuring.
British Airways parent International Consolidated Airlines Group (IAG) has pledged to push through a plan to shrink Spanish arm Iberia by 15% and deliver a profit rebound this year following a group-wide loss last year.
“We are representing a government, and governments will not be told to do things that fundamentally violate their principles” lawyer Jonathan Blackman told the Manhattan US appeals court.
Unemployment in the Euro zone reached a new high of 11.9% in January, as an additional 201,000 people joined the jobless ranks in the crisis-battered bloc, latest data showed Friday. The unemployment rate has been increasing relentlessly since the middle of 2011.
Mexico’s Carlos Slim, probably the world’s richest man according to Forbes has referred to Argentina with certain irony when he was asked about the current foreign currency restrictions and changing regulatory framework implemented by the government of President Cristina Fernandez.
Brazil’s Bovespa-index futures declined with the equity gauge poised for its biggest monthly drop since May, after iron-ore producer Vale SA posted a record loss in the fourth quarter.
Argentina's defence urged a US appeals court on Wednesday to come up with a workable solution to its long-running fight with so-called holdout bondholders, and assured the country will not pay an amount exceeding the one set in the debt-swaps.
President Dilma Rousseff said on Wednesday that Brazil must cut its high business costs to become more competitive and vowed to keep inflation in check. The leader anticipated that 2013 will be a year of major infrastructure investments in roads, railways, ports and airports to try to stop bottlenecks from holding the economy back.
Two-digit inflation in Argentina has reached 90 consecutive months, according to economist Carlos Melconian who added that since 2001 the prices’ increase in the country has averaged 500%.