United States

United States
Wednesday, September 3rd 2014 - 22:05 UTC

Soros signals Argentina’s shale is biggest place to be

Soros’ move suggests he is not focusing on the short-term problems facing Argentina, but believes that the geological fundamentals are more important.

One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize —and a big boost for both super-majors and smaller players making big waves in the heart of new discovery areas.

Tuesday, September 2nd 2014 - 07:01 UTC

Controversy in Uruguay over transfer of Guantanamo prisoners, before or after October election

Ambassador Reynoso said that the US does impose a date for the transfer, although it is preferable it happens before Mujica steps down

US ambassador in Montevideo, Julissa Reynoso said that Washington “does not impose a date” for the transfer and arrival of the Guantanamo prison detainees to be accepted by Uruguay, but admitted that the ideal would be for this to happen before the end of President Jose Mujica's mandate next March first.

Saturday, August 30th 2014 - 08:01 UTC

Judge Griesa schedules new hearing; Argentina appeals to United Nations on holdout case

Following a request from Elliott NML Capital, US District Judge Griesa scheduled a hearing for Sept. 10 at 2:30 p.m. EDT

The US judge overseeing litigation by Argentina and creditors who did not participate in the country's past debt restructurings scheduled a hearing to assess whether Citigroup Inc (C.N) should be forced to comply with a subpoena.

Friday, August 29th 2014 - 08:11 UTC

US economy rebounds strongly in the second quarter: 4.2% annual rate

Domestic demand increased at a 3.1% rate, instead of the previously reported 2.8% pace. It was the fastest pace since the second quarter of 2010

The US economy rebounded more strongly than initially thought in the second quarter and details of a report on Thursday pointed to sustainable underlying strength. GDP expanded at 4.2% annual rate instead of the previously reported 4.0% pace, the Commerce Department said, reflecting upward revisions to business spending and exports.

Friday, August 29th 2014 - 08:07 UTC

Singer extends 'discovery' looking for Argentine assets in Chinese banks

 While the Chinese banks can oppose the request, Singer's Elliott is confident that the US courts would ultimately allow its request to go through.

As it did in Nevada and California, a unit of billionaire Paul Singer's Elliott Management, which is Argentina's main holdout creditor, is extending its legal fight with the country to China. NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on 6.8bn dollars in financing for deals signed by the two countries in July.

Friday, August 29th 2014 - 05:56 UTC

Argentina will only negotiate with all bondholders: no more piecemeal debt talks

“The main aim of the draft bill is to show that Argentina can pay its debt and wants to pay its debt,” Carlos Zannini told Argentine Congress

Argentina's government ruled out further piecemeal debt talks with a small group of U.S. hedge funds (holdouts) and said the country needed to strike a deal with all bondholders including those which have rejected past restructuring agreements as a single group.

Wednesday, August 27th 2014 - 06:42 UTC

Singer recruits former Secretary of State Albright for its dispute with Argentina

Ms Albright worked with president Bill Clinton. Her partner and co-chair is Gutierrez, a former Commerce Secretary with president Bush

Billionaire Paul Singer, founder and CEO of hedge fund Elliott Management Corporation has picked up some major political muscle to press his case in the long-running debt battle with Argentina, reports the New York Post.

Wednesday, August 27th 2014 - 06:33 UTC

Argentina revokes BONY authorization to operate and act as trustee

Resolution 437/2014 signed by central bank President Fabrega and Superintendent Belmonte, is based on BoNY’s “non-fulfillment of the contract”

Argentina's Cabinet Chief Jorge Capitanich confirmed that the country's Office of the Superintendent of Financial and Exchange Institutions has revoked the authorization for the bank of New York Mellon to operate in Argentina.

Tuesday, August 26th 2014 - 07:14 UTC

UK embassy apologizes for a cake 'commemorating' torching of White House

British troops in 1814 led by Maj Gen Robert Ross, attacked and burned public buildings including the Capitol, Washington Navy Yard and the White House

The British embassy in Washington has apologized after tweeting a picture of a White House cake surrounded by sparklers, “commemorating” the burning of the building 200 years ago.

Tuesday, August 26th 2014 - 06:42 UTC

Soros group and others file lawsuit against BONY over payments in Euros

The plaintiffs in the latest lawsuit which includes Soros, hold more than €1.3 billion in Argentine debt.

A group of hedge funds, including George Soros’s Quantum Partners and J. Kyle Bass’s Hayman Capital, is seeking a 226 million Euro interest payment on Argentine bonds from Bank of New York Mellon, BONY, that was blocked by a United States judge last month.

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