United States

United States
Thursday, August 21st 2014 - 08:30 UTC

Kicillof: “no change of NY jurisdiction, but a change of payment location”

 Judge Griesa “clearly benefits” 1% of creditors “that never entered and never wanted to enter” the debt restructurings, claimed Kicillof

Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.

Thursday, August 21st 2014 - 08:06 UTC

'A contempt of court does not apply so sovereign Argentina', says Capitanich

The cabinet chief during his daily morning media conference

Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.

Thursday, August 21st 2014 - 07:31 UTC

“Slack of US labor market” keeping the Fed from raising interest rates

Many Fed members pointed to the millions of workers who have been out of work for extended periods or who are unable to find full-time employment.

The US Federal Reserve hinted that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating. At the same time, most Fed officials wanted further evidence before changing their view on when rates should rise, according to the minutes from the central bank's July 29-30 meeting.

Thursday, August 21st 2014 - 07:07 UTC

Aurelius Capital brands Argentine leaders 'outlaws' for flouting US courts orders

 Tuesday evening President Cristina Fernandez revealed a plan to shift interest payments to holders of the country's restructured bonds to an Argentine bank

One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.

Wednesday, August 20th 2014 - 10:06 UTC

Argentina gambling industry tycoon closes Miami casino for a year

Cristobal Lopez is a close associate of the Kirchner family and was benefitted with gambling licenses.

Argentine gambling industry tycoon Cristobal Lopez and who has been targeted by Paul Singer from Elliott Management in his hunt for assets connected to Argentine leaders, has closed for 'a year' a casino he owns in Florida and which he only opened last February.

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.

Monday, August 18th 2014 - 06:35 UTC

Exodus: a million more Puerto Ricans on mainland US than in the island

“The island’s economic crisis may be driving thousands of Puerto Ricans to seek opportunities on the mainland, or to return there,” the report said

A new study has found that Puerto Rico has undergone such a dramatic population shift that there are now over a million more Puerto Ricans on the US mainland than on the US island territory. The Pew Research Center study showed that between 2010 and 2013, more people left Puerto Rico for mainland US than those who left in the 1980s or 1990s.

Saturday, August 16th 2014 - 11:21 UTC

All ready in Uruguay to receive Guantanamo prisoners, but public opinion is divided

“With the exception of the dictatorship, Uruguay has been a country of refuge and for us it's a matter of principle” president Mujica said

Uruguay will be receiving very soon six men who have spent more than a decade locked up without charge at the US base at Guantánamo Bay in Cuba. The prisoners have been offered a refuge in Uruguay, where President José Mujica agreed as a humanitarian gesture to accept men that the U.S. has decided do not pose a threat but cannot return to their homelands.

Saturday, August 16th 2014 - 09:01 UTC

Argentine Euro-bond holders have appealed Griesa's ruling blocking payment

Euro bondholders have argued that their bonds should be exempt because they are governed by the laws of England and Wales

Holders of Euro-denominated Argentine bonds have appealed judge Thomas Griesa's ruling blocking Argentina from making payments on their debt, according to a court filing.

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