United States

United States
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.

Thursday, August 14th 2014 - 06:34 UTC

Talks between global banks and Argentine creditor hedge fund “collapsed”

Elliott Management hedge fund and JPMorgan, Citigroup, HSBC, and Deutsche Bank were in negotiations

Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told sources in Buenos Aires, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.

Thursday, August 14th 2014 - 05:41 UTC

US Nevada court grants 'holdouts' discovery rights into assets of Kirchner family friends

“Campagnoli authored a report stating that Baez laundered 65 million dollars through 15 Nevada corporations”

The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.

Monday, August 11th 2014 - 22:24 UTC

Global economic recovery remains 'disappointing' says Fed's Vice Chairman

Fischer suggested that QE along with “forward guidance” had helped the US economy work through the Great Recession without worse damage.

US Federal Reserve Board Vice Chairman Stanley Fischer said that the economic recovery has been and remains “disappointing” and made it clear that he expects monetary policy to continue to play a significant role in encouraging growth in the future.

Monday, August 11th 2014 - 01:54 UTC

Argentina/holdouts, a clash between 'global financial power and political power'

Supreme Court Judge Zaffaroni: the major scandal is not Griesa, a provincial judge, but the US Supreme Court

A Judge from Argentina's Supreme Court joined the ongoing battle in New York between the Argentine government and the holdouts and slashed out at the US Supreme Court for rejecting to take the case back in June. Eugenio Zaffaroni argued that the conflict must be addressed in the context of “attacks from the global financial power on political power”.

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