Argentina's economic activity slowed in March to 4% year-on-year continuing a steady deceleration from the China-like rates seen through October, government data showed on Friday.
The world’s biggest banks may have to raise about 566 billion dollars of common equity to meet rules on capital to be implemented by 2019, curtailing shareholder returns, according to analysts at Fitch Ratings.
The European Ambassador to Argentina, Spanish native Alfonso Díez Torres, stressed on Friday that the solution for the YPF seizure conflict would be “a negotiated agreement” between Argentina and Repsol.
President Cristina Fernández highlighted the “magnificent opportunity” Argentina and Angola had in coming together on future business transactions, particularly in the face of the global financial crisis, while addressing a meeting with businessmen in Angloa where she is on a three day official visit.
European Commission and European Central Bank are making contingency plans for a possible Greek exit from the euro, an EU commissioner says.
The US mega-bank JPMorgan Chase & Co loss from derivatives trading may widen to 5 billion dollars, the Wall Street Journal reported on Friday. CEO Jamie Dimon personally approved the strategy that led to the trades, without monitoring how they were executed, the newspaper said.
A group of United Nations independent experts called on the European Union (EU) to take the lead in promoting the adoption of a global financial transaction tax that would offset the costs of the current economic crisis and protect basic human rights.
United Nations senior officials stressed the importance of establishing a new paradigm for growth that ensures social inclusiveness, job opportunities for all, and more accountability from the financial sector to tackle the ongoing global economic crisis.
A former Argentine central bank president warned that if the economy follows on the current course, a “de facto devaluation” is round the corner because of the growing gap between the official and parallel exchange rates for the US dollar.
Brazilian Foreign Affairs minister Antonio Patriota revealed that Brasilia is following closely the situation in Venezuela because of the medical condition of President Hugo Chavez, to whom he sent a message of quick recovery.