Wednesday, August 20th 2014 - 09:50 UTC

Dilma admits many problems plague Brazil but refuses to talk about corruption in her party

“We have had and still have many problems and challenges to take on in health care,” Rousseff said during the broadcast from the Alvorada Palace

Brazilian President Dilma Rousseff acknowledged “many problems and challenges” still plague the country's woeful heath system but defended her record on the economy and education on a live 15-minute interview on the Globo television network's nightly news.

Wednesday, August 20th 2014 - 09:43 UTC

Chile's economy cooling faster than expected: weakest pace since 2009

The reading “was a reflection of the weak performance of the majority of economic sectors” said the central bank

Chile's GDP grew at its weakest pace since 2009 in the second quarter as investment waned and a previously rapid expansion in consumer spending slowed, central bank data showed. The economy grew 1.9% in the second quarter compared with a year ago, or a seasonally adjusted 0.2% compared with the first quarter.

Wednesday, August 20th 2014 - 09:22 UTC

Nervous Cristina skirts New York court and pledges to service swapped bonds in Argentina

CFK said debt holders can swap their bonds for notes with “identical terms and financial conditions, and with equal nominal value” under Argentine law.

President Cristina Fernandez said on Tuesday her government will move to service its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law in order to get around a U.S. court order.

Wednesday, August 20th 2014 - 02:56 UTC

US insists Argentina must engage with creditors over sovereign debt dispute

Timerman, Capitanich and Legal Advisor Susana Ruiz Cerrutti at Tuesday morning's media conference

The US government reiterated on Tuesday that the International Court of Justice in The Hague “is not the appropriate venue” for addressing Argentina's debt issues and again called on the government of President Cristina Fernandez to engage with its creditors.

Wednesday, August 20th 2014 - 00:15 UTC

UN accepts extension of Uruguay's continental shelf to 350 miles; first in South America

In practical terms this means Uruguay has an additional sea area of 80.500 sq kilometers equivalent to half its landmass territory

The United Nations accepted the proposition of the Uruguayan government to extend the Uruguayan territorial seabed from 200 to 350 miles. Uruguay thus becomes the first South American nation to receive the approval of the UN for such request.

Wednesday, August 20th 2014 - 00:08 UTC

Three relatives of Pope Francis killed in car accident in Argentina

The remains of the car that crashed into a grain truck and caught fire

Three relatives of Pope Francis, including two young children, died on Tuesday when their car slammed into the back of a truck in Argentina. The Pope's nephew, Emanuel Horacio Bergoglio, who was driving the car, was in a serious condition after the accident, officials said.

Tuesday, August 19th 2014 - 09:16 UTC

Falklands pricing for valuation of hydrocarbons will follow Norwegian model

 Financial Secretary Ms Granger said that the Falklands' oil legislation regime “is robust and encourages investment”

The Falkland Islands has an oil legislation regime that is robust and encourages investment, believes Financial Secretary Nicola Granger. Details of a law firm’s report to the Falkland Islands Government (FIG) on tax legislation in relation to the oil and gas industry, and recommendations to Government by Ms Granger, were released to the public this week in a paper that outlines the report from Freshfields Bruckhaus Deringer LLP.

Tuesday, August 19th 2014 - 09:10 UTC

Chilean ferry strikes rocks and is half sunk in the Puerto Natales/Puerto Montt link

The Navimag ferry Amadeo I listed and half sunk in the Kirke pass

The Chilean navy is deploying two vessels to contain possible fuel leaks, in the area where a Navimag ferry on Monday morning struck a group of rocks and is half sunk and half resting on a beach.

Tuesday, August 19th 2014 - 08:57 UTC

Cattle rustling an everyday issue in Uruguay, claim farmers

Cattle is usually shot and slaughtered in the field, and later sold to local butchers or turned into sausages or minced meat

Cattle rustling in Uruguay has become a daily issue and it's unfair that farmers should be forced to change of activity because “justice is lenient” when and if the perpetrators are caught, claimed the president of Uruguay's Rural Association, ARU, Ruben Echeverria.

Tuesday, August 19th 2014 - 08:45 UTC

UK Home Office loses arbitration and is ordered to pay Raytheon £224m

Home Affairs Committee chairman Keith Vaz called it a “catastrophic result”.

The UK Home Office has been told to pay £224m to a major US corporation it sacked for failing to deliver a controversial secure borders program. Ministers will pay Raytheon £50m in damages, plus other costs. The order to make the payments comes from a binding arbitration tribunal. Home Affairs Committee chairman Keith Vaz called it a “catastrophic result”.


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