The bankrupt Galician multinational Pescanova has three proposals for its recapitalization: one from Damm, Luxempart, KKR and Ergon Capital Partners; another from Centerbridge and Bluecrest investment funds, and a third one from the major domestic creditor banks, according to reports from Vigo.
The Tory plan for a referendum on Britain’s membership of the European Union cleared its first hurdle in the House of Lords last week. The Bill was given an unopposed second reading after a lengthy seven-hour debate in the Lords, in which more than 60 peers spoke.
Pope Francis put his first stamp on the group at the top of the Roman Catholic hierarchy naming 19 new cardinals from around the world. Sixteen of them are cardinal electors under 80 and thus eligible to enter a conclave to elect a pope. They come from Italy, Germany, Britain, Nicaragua, Canada, Ivory Coast, Brazil, Argentina, South Korea, Chile, Burkina Faso, the Philippines and Haiti.
Pope Francis has baptized 32 babies in the Sistine Chapel and told their mothers to have no qualms about feeding them there. Two of the infants are the daughter of a couple that did not get married in the Catholic Church and a single mother's son.
Argentina's Foreign Ministry refuted an article by Brazilian newspaper Valór Económico reporting that negotiations between Mercosur and the European Union had been delayed by the failure to reach agreement with Argentina over a joint proposal of goods to include in a free trade agreement
China has claimed that it is very likely that it overtook the US as the world's top trading nation, a title the US has held for decades. According to the latest data, China's total trade grew at an annual rate of 7.6% to 4.16 trillion dollars last year.
A new scheme has been launched to protect the Scotch whisky industry from fake or sub-standard products. The Spirit Drinks Verification Scheme has been set up by the UK government to help consumers identify genuine UK-made products.
The challenging rescue operation launched after a Russian ship became trapped in Antarctic pack ice in December shows the inherent risks facing the frozen continent's burgeoning tourist industry, experts say. Antarctica represents one of the last frontiers for adventurous travelers, an icy wonderland of glaciers, emperor penguins and seemingly endless white expanses.
International airlines operating in Venezuela have 3.3 billion trapped because of currency controls, the International Air Transport Association, IATA, revealed. Airlines have to wait around 12 months for the government to convert their Bolivar earnings into dollars, with the time lag growing, according to the Venezuela Airline Association.
When Mercosur finally holds its much delayed summit in Venezuela at the end of the month following two postponements (12 December and 17 January), besides its normal agenda of agreements and disagreements, it will have to address a new challenge, this time from the European Union which has redefined its development support policy, leaving all Mercosur members, except Paraguay out of its tariffs and market access benefits.