Saturday, January 17th 2015 - 07:49 UTC

Petrobras corruption scheme could reach 28bn dollars according to police

The criminal investigation also involves foreign companies and 750 additional infrastructure contracts, revealed Ms. Marena

The corruption scheme in Brazil's leading corporation Petrobras could exceed 28 billion dollars, making it the largest corruption scandal that the country has ever seen. The development was reported through an interview by Reuters of Brazilian police officer, Erika Marena, investigating the corruption probe.

Saturday, January 17th 2015 - 07:46 UTC

Booming California overtakes Brazil as the world's seventh largest economy

The Golden State with GDP of 2.20 trillion dollars in 2013, expanded last year by almost every measure. Brazil’s GDP in contrast, declined 1% from 2.25tn

California is overtaking Brazil as the world’s seventh-largest economy, bolstered by rising employment, home values and personal and corporate income, a year after the US most-populous state surpassed Russia and Italy.

Friday, January 16th 2015 - 07:10 UTC

Timerman accuses Nisman of 'investigating the president clandestinely'

“Instead of investigating suspects, Nisman is determined to investigate the President clandestinely,” claimed Timerman from Government House

Argentina's government called a leading prosecutor a 'despicable liar' on Thursday for accusing President Cristina Fernandez of secretly negotiating with Iran to avoid punishing those responsible for the country's worst terrorist attack, and insisted the whole thing was a 'media show'.

Friday, January 16th 2015 - 06:54 UTC

Prosecutor Nisman confirms case against Cristina Fernandez and reveals further evidence

Bielsa said Argentina had received an offer from the Iranians to buy wheat for 4bn dollars, in exchange for dropping the case, according to Nisman

Argentina's AMIA special prosecutor Alberto Nisman confirmed his complaint against President Cristina Fernandez and several other officials over an alleged “criminal deal of impunity” with Iran and explained the role of every one of those he accused for “covering up” Teheran’s involvement in the attack against the Jewish centre in 1994 in Buenos Aires.

Friday, January 16th 2015 - 06:49 UTC

Bilateral trade between Mercosur main partners dropped 21.2% in 2014

The poor performance of the auto industry had an impact for both countries and their complementation

Bilateral trade between Mercosur two main partners, Brazil and Argentina (first and third largest economies in Latin America) dropped 21.2% last year and with a 139 million dollars deficit for Argentina, according to the Argentine Commerce Chamber, CAC.

Friday, January 16th 2015 - 06:37 UTC

Pope Francis: “You can't make a toy out of the religions of others”

”It is true that you must not react violently, but although we are good friends if (he) says a curse word against my mother, he can expect a punch, it's normal”.

Pope Francis, speaking of last week's deadly attacks by Islamist militants in Paris, has defended freedom of expression, but said it was wrong to provoke others by insulting their religion and that one could “expect” a reaction to such abuse.

Friday, January 16th 2015 - 06:15 UTC

In a surprise move Swiss central bank abandons Euro peg: frank soars 30%

Watchmaker Swatch saw its share price slump 15%. Swatch chief executive Nick Hayek called the decision “a tsunami” for Switzerland's economy.

The Swiss franc soared as much as 30% in chaotic trade after the central bank abandoned the cap on the currency's value against the Euro. The Swiss National Bank (SNB) said the cap, introduced in September 2011, was no longer justified. It also cut a key interest rate from -0.25% to -0.75%, raising the amount investors pay to hold Swiss deposits.

Friday, January 16th 2015 - 06:10 UTC

US, EU and Japan win case at WTO against Argentine import restrictions

“It will not have an immediate practical impact on the system and administration of commerce or trade dynamics” said Commerce Secretary Costa

The World Trade Organization on Thursday rejected Argentina’s bid to overturn a ruling in favour of the United States, the European Union and Japan against the Buenos Aires licensing rules used to restrict imports.

Friday, January 16th 2015 - 05:58 UTC

We won't let the voice of freedom be muzzled

UK Prime Minister Cameron is on a two-day visit to the US where he is scheduled to meet President Obama, congressional leaders and business people

By David Cameron and Barack Obama - Two hundred years ago this month, Britain and the United States fought each other at the Battle of New Orleans. It was the last major battle where our nations met as enemies. In modern times, our special relationship as allies and partners has been the firm foundation of our shared security and prosperity.

Friday, January 16th 2015 - 05:15 UTC

Chile votes to eliminate the Pinochet electoral system, 25 years later

The “binominal” system has been in place since the end of the 17-year dictatorship of General Augusto Pinochet in 1990

Chile's Senate has voted to end a dictatorship-era electoral system that has squeezed out independent candidates and guaranteed an outsized presence in Congress for the centre-right and conservative blocs.


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