United States

United States
Friday, October 31st 2014 - 21:21 UTC

Argentina's holdout dispute spills into the White House: CFK sends letter to Obama questioning Ambassador Soderberg

In the letter CFK asks if Nancy Soderberg, “the person you have appointed as Chair of PIDB”, is also the Co-Chair of the American Task Force Argentina

In a harsh letter, released on Friday, Argentine President Cristina Fernández urged US President Barack Obama to explain whether ”Nancy Soderberg, the person you have appointed as Chair of the Public Interest Declassification Board (PIDB), which reports directly to the Government of the United States of America, is also the Co-Chair of the American Task Force Argentina (ATFA), an entity specifically created to attack and slander the Argentine Republic and its President.”

Friday, October 31st 2014 - 06:49 UTC

US economy expands 3.5% in third quarter boosted by government spending and exports

Growth was lifted in the third quarter by a sharp increase in government spending, which itself was boosted by a surge in defense expenditure.

The US economy grew at an annual rate of 3.5% in the July-September quarter, the Commerce Department reported on Thursday. That was better than the 3% pace that economist had been expecting and follows the 4.6% growth rate recorded in the April-June quarter.

Wednesday, October 29th 2014 - 07:01 UTC

Griesa invokes Foreign sovereign immunities act in Argentine bonds dispute

“In dealing with what can be subjected to turnover, the FSIA simply does not mention property located outside the United States,” Griesa wrote.

US judge refused on Tuesday to require Bank of New York Mellon Corp to turn over to holders of defaulted Argentine bonds any of the 539 million dollars the country deposited to pay creditors who participated in its past restructurings.

Wednesday, October 29th 2014 - 06:35 UTC

Obama congratulates Dilma and underlines 'strategic value' of relation with Brazil

“The President emphasized the strategic value of our bilateral partnership and reinforced his commitment to deepening our cooperation”

President Barack Obama on Tuesday telephoned Brazilian head of state Dilma Rousseff to congratulate her on her re-election, the White House said in a statement. Obama “emphasized the strategic value of our bilateral partnership and reinforced his commitment to deepening our cooperation in areas such as commerce, energy, and other priority bilateral issues through our existing strategic dialogues”.

Saturday, October 25th 2014 - 10:09 UTC

Another hedge fund, Dart container, after Argentine assets to cash defaulted bonds

“EM now seeks an injunction from this court that is the same as the injunction that was issued in NML v. Argentina,” Dart’s hedge fund said

Billionaire Kenneth Dart’s EM Ltd. is seeking to take advantage of a U.S. court ruling won by fellow billionaire hedge fund manager Paul Singer NML Capital, as he seeks payment on 835 million dollars in defaulted Argentine bonds.

Saturday, October 25th 2014 - 10:02 UTC

Argentina's bonds dispute: Judge Griesa delays a week a Citigroup hearing

In a brief order Friday Griesa said the hearing, originally set for Dec. 2, will now take place Dec. 9.

U.S. District Judge Thomas Griesa has delayed by a week a December hearing to consider whether Citigroup Inc should be allowed to process an interest payment by Argentina on bonds issued under its local laws following its 2002 default.

Thursday, October 23rd 2014 - 21:26 UTC

Slumping oil prices are putting pressure on U.S. shale operations

U.S. drilling companies could begin to seriously start removing rigs from operation if prices drop to around 75 dollars per barrel.

The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. 17, compared to the prior week. There are now 1,590 active oil rigs, the lowest level in six weeks.

Thursday, October 23rd 2014 - 05:57 UTC

US Appeals court sends Argentina back to Judge Griesa on BONY's case

In a order the Appeals court said it lacked jurisdiction as the August ruling by District Judge Griesa was a clarification rather than modification

A U.S. appeals court on Wednesday dismissed the Argentine government's appeal of an order directing Bank of New York Mellon Corp to hold onto 539 million dollars the country deposited for its restructured bondholders.

Sunday, October 19th 2014 - 07:27 UTC

Yellen warns about the rich-poor gap in the US, at a near 100-year high

The Fed chief said that wide wealth disparities can make it harder for the poor to move up the income ladder

Federal Reserve chief Janet Yellen warned Friday that the gap between the rich and poor in the United States is widening and has reached a near 100-year high. In a speech at a conference on inequality in Boston, the Fed chair did not mention monetary policy nor the current turmoil in financial markets. Instead, she focused on the widening wealth disparity and how that impacts economic opportunity.

Saturday, October 18th 2014 - 08:13 UTC

Ebola scare reaches cruise industry: Carnival vessel barred from Mexico and Belize

The Carnival Magic, which authorities in Mexico and Belize have barred from their ports, is now headed back to Texas.

A laboratory technician from the Dallas hospital where a Liberian died of the Ebola virus, and who handled some of his fluid samples for analysis, has been placed in quarantine aboard a cruise ship, the State Department said on Friday.

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