Saturday, September 24th 2016 - 07:46 UTC

Latam modifies ownership structure before the entrance of Qatar airlines

 ”The measure was necessary due to the 11% dilution for all shareholders resulting from the entrance of Qatar Airlines into (LATAM's) share structure”

The Amaro family from Brazil, one of the main controllers of LATAM Airlines, sold a 6.47% stake in the regional carrier on Friday on the Santiago stock exchange for some US$296 million, as part of a strategy to modify the company's ownership structure.

Thursday, September 22nd 2016 - 22:08 UTC

BIS warns Chinese banking sector stress gauge three times above danger level

The BIS considers a credit-to-GDP gap of 10 to be a sign of potential danger. A year ago the BIS quarterly review put the figure for China at 25.4.

Risks of a Chinese banking crisis are mounting, according to a warning indicator from the banking industry's global watchdog. A key gauge of stress in the banking sector is now more than three times above the danger level, the Bank for International Settlements (BIS) said in its latest quarterly review.

Thursday, September 22nd 2016 - 17:00 UTC

St Helena airport “too dangerous to use” opens prospect of £285m compensation claim

The airport was to be opened last May but test pilots said it was too dangerous to use, and it remains closed to commercial flights.

Britain faces the prospect of compensation claims over a disastrous overseas aid project to build an airport on the remote island of St Helena, according to reports in the UK media. The £285million flop became a symbol of Britain’s aid waste this year after experts warned it might never open because of severe problems with wind conditions on the British Overseas Territory in the South Atlantic Ocean.

Wednesday, September 21st 2016 - 21:53 UTC

Divided Fed leaves interest rates unchanged; strong hints of a December increase

The case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence, said chair Janet Yellen.

The United States Federal Reserve pushed back plans to raise interest rates on Wednesday, a widely expected move following a series of mixed economic reports and varied signals from Fed officials. After its two-day policy meeting, the Federal Open Market Committee voted to hold the federal funds rate between 0.25% and 0.50%, citing progress in economic and labor market growth and an improving risk outlook.

Tuesday, September 20th 2016 - 12:54 UTC

General Electric pledges US$ 10bn in Argentina over the next decade

”When we saw the Argentine people elect President Macri, and we looked at the leadership team that he assembled, we saw a real tipping point,” Rice said.

U.S. industrial conglomerate General Electric will invest US$10 billion in Argentina over the next decade, vice chairman John Rice said on Monday, the latest foreign company to announce new plans since President Mauricio Macri took office.

Monday, September 19th 2016 - 07:11 UTC

Punta Arenas port increased docking space should be ready early 2017

 “This is an emblematic project for us and it is keeping to budget and timetable, with work intensified this last week”, said Ignacio Covacevich

Works on the extension of the Prat dock in the port of Punta Arenas picked up this last week and should be ready for the beginning of next year, including two dolphins and six jackets, which should enable all cruise passengers to land directly.

Sunday, September 18th 2016 - 06:52 UTC

Argentina/UK statement on Falklands and dialogue ”promising”, but Congress decides

“My position is very clear, I always support dialogue, but also the defense of our natural resources in the Malvinas and surrounding areas”, said governor Bertone.

The recent Argentina/UK joint cooperation statement, with a chapter on the Falklands/Malvinas Islands, is “promising”, however much rests to be defined and agreed, and additional air links should be carried out by Argentina's flag carrier, according to Rosana Bertone, governor of the extreme south province of Tierra del Fuego, Antarctica and South Atlantic Islands.

Saturday, September 17th 2016 - 23:17 UTC

US Justice Department demands US$14bn from Deutsche Bank for 2008 mortgages scam

The claim against Deutsche, which is likely to be negotiated for several months, far outstrips investor expectations.

The US Department of Justice is asking Deutsche Bank to pay US$14bn to settle an investigation into mortgage-backed securities, the bank has said. However Deutsche Bank said it “has no intention to settle these potential civil claims anywhere near the figure cited.”

Thursday, September 15th 2016 - 10:34 UTC

Falklands' Sea Lion oil project break-even price reduced to US$ 45 a barrel

CEO David McManus said Rockhopper continues to make very good progress in advancing the Sea Lion development, reducing costs and the break-even oil price

Falkland Islands oil explorer Rockhopper Exploration Plc has confirmed cost cuts at its Sea Lion project, which will reduce the scheme´s break-even price to US$ 45 a barrel. Capital investment at Sea Lion to reach first oil is now estimated at US$ 1.5bn.

Thursday, September 15th 2016 - 10:30 UTC

Bayer and Monsanto confirm merger in a $66bnm mega-deal; activists ready to protest

Bayer said it will spearhead the mega all-cash buyout in history in hopes of taking over Monsanto, world’s largest supplier of genetically modified seeds.

Seed and chemical giants Bayer and Monsanto said on Wednesday that they will merge to become one of the world’s biggest agriculture giants, a 66 billion-dollar mega-deal that could reshape the future of farming and enhance their influence over the planet’s food supply.


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