United States

United States
Friday, July 4th 2014 - 07:47 UTC

Kicillof confirms meeting of Argentine delegation with mediator Pollack

 'Special Master' confirmed the meeting next Monday in a brief release

Economy minister Axel Kicillof has confirmed that Argentina would enter talks with mediator 'Special Master' Daniel Pollack over the legal battle currently raging between the nation and holdout hedge funds as 'vulture funds', while clarifying that those funds would not be present.

Friday, July 4th 2014 - 06:34 UTC

US unemployment down to 6.1% and the Dow Jones at 17.000 for first time

 The labor force participation rate remained steady at 62.8%, indicating that decline was not due to discouraged workers

US economy added 288,000 jobs in June, latest figures from the Bureau of Labor Statistics have shown. The unemployment rate dropped to 6.1%, its lowest level since September 2008.

Thursday, July 3rd 2014 - 06:57 UTC

US bank caught in bonds litigation requests guidance from Judge Griesa

BNY Mellon, the world's largest custody bank, has told Griesa it has done nothing with the money because it is following his orders

The Bank of New York Mellon, fearful of being sued by Argentine bondholders and unwilling to defy a court order blocking their coupon payments, is seeking guidance from U.S. Judge Thomas Griesa on what to do with the money.

Wednesday, July 2nd 2014 - 07:53 UTC

“Vulture funds not interested in negotiations” claims Minister Kicillof

Kicillof is trying to blame holdouts and Judge Griesa for the current situation

“Vulture funds are not interested in negotiations”, and all they want is “to get hold of the money for re-structured bonds holders”, said Argentina's Ministry of Economy in a release made public late Tuesday, the last exchange on the ongoing battle in a New York court with holdout hedge funds.

Tuesday, July 1st 2014 - 23:57 UTC

Argentina's Paris Club and Repsol debt deals possible accord path, hint holdout funds

Structure agreements with Repsol and the Paris Club are “very good models for how we could see a deal for unpaid bondholders” said Jay Newman

One of the holdout hedge funds involved in the lawsuit against the Argentine government over pending debt from the 2001 bonds default, pointed out on Tuesday that the agreements struck by Argentina with Spanish oil and conglomerate Repsol and the Paris Club are good examples for the basis of an eventual understanding.

Tuesday, July 1st 2014 - 08:16 UTC

Obama and 'second favorite Michelle' exchange praise at the White House

“The US is our, I would say, our most important foreign investor. We want to continue that path” said Bachelet

President Barack Obama and Chilean President Michelle Bachelet pledged to work together to strengthen the ties between both nations, including projects on energy, education and free trade. Obama met in the Oval Office on Monday with Bachelet, whom he called his second favorite Michelle.

Tuesday, July 1st 2014 - 07:14 UTC

Argentina confirmed Monday 7 July negotiations with hedge funds as instructed by Griesa

Minister Kicillof is expected to head the delegation that will first meet with mediator Pollack named by Judge Griesa (Pic AP)

Argentina confirmed that next Monday, 7 July it will hold a meeting with “Judge Thomas Griesa delegate, Daniel Pollack”, in the framework of the current litigation with speculative funds, according to a Monday release from the Ministry of Economy in Buenos Aires.

Monday, June 30th 2014 - 05:47 UTC

OAS Permanent council expected to consider Argentina/hedge funds conflict

The idea is for a strong statement from OAS in support of Argentina in its ongoing litigation

The Argentina litigation with holdout hedge funds will have an additional ingredient this Monday when the Organization of American States, OAS, Permanent Council holds an extraordinary session, on a special request from Argentina, to consider a consultation meeting of foreign ministers to address the issue of sovereign debt restructuring.

Monday, June 30th 2014 - 02:40 UTC

Bachelet delays trip to Washington to receive national football team

Bachelet selfies with some of the players at La Moneda palace

Chilean president Michelle Bachelet welcomed the national football team at Government House on Sunday afternoon thus delaying for a few hours her trip to the United States where on Monday she is scheduled to meet with President Barack Obama at the White House.

Saturday, June 28th 2014 - 10:57 UTC

Argentina claims Judge Griesa “blocked the payment to bondholders”

Axel Kicillof remarked that Griesa “sought to cancel the payment which was already deposited yesterday”

Through an official press release published on Friday afternoon, the Argentine government stated US Federal Judge, Thomas Griesa, attempted to “block the payment for bondholders,” and committed an abuse of authority, after cancelling the deposit made on Thursday into a Bank of New York account.

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