United States

United States
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.

Friday, August 15th 2014 - 07:13 UTC

Cristina Fernandez will use anti-terrorism law against US company that closed its Argentine plant

“We are facing a real case of fraudulent behavior and an attempt to intimidate the population,” said Cristina Fernandez in a speech at Government House.

Argentina's government will use an anti-terrorism law for the first time to seek criminal charges against a U.S.-based international printing firm which closed its Argentine plant without warning, president Cristina Fernández said on Thursday. She linked the company to some of the hedge funds in litigation with Argentina over defaulted bonds.

Friday, August 15th 2014 - 06:47 UTC

New record for the US dollar in Argentina's 'blue market', 13.20 Pesos

The blue-chip swap rate went up and closed at 11.60 Pesos, while the stock exchange rate dropped to 12.54 Pesos

The US dollar in Argentine money markets continued its rising path on Thursday with a new record climb to close at 13.20 Pesos. This so-called “blue” dollar had jumped 20 cents to 13.15 pesos on Wednesday, breaking its 13.06 Pesos record from 23 January.

Thursday, August 14th 2014 - 06:44 UTC

Aurelius Capital confirms no deal with banks on Argentina's bonds

“Argentine officials made a cynical and cold decision in letting the country default, the worst is yet to come”, said Mark Brodsky from Aurelius

Argentine holdout creditor Aurelius Capital Management has said that after talks with many financial institutions, the prospects for finding a private-settlement solution to the Argentine sovereign debt dispute had garnered no realistic proposals.

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