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A Miami-located seafood company was sentenced in a Federal Court for falsely labeling salmon in December 2012 in violation of the Lacey Act, National Oceanic and Atmospheric Administration (NOAA) informed.
The first US cruise ship bound for Cuba in half a century set sail from Florida on Sunday, marking a new milestone in the rapprochement between Washington and Havana. The Adonia, a vessel from the Carnival cruise's Fathom line, raised its anchors and departed from Miami, the heart of the Cuban diaspora in the United States, around 4:00 pm.
The U.S. Federal Reserve did what many expected on Wednesday as it left its key interest rate range unchanged. The central bank maintained its overnight lending rate for banks at a target range of between 0.25 and 0.50% where it has been since it was boosted from near zero back in December. Expectations now have moved to the two-day meeting on 14/15 June.
Financier Paul Singer again took to the US media to celebrate Argentine President Mauricio Macri’s decision to settle with the so-called “speculative” creditors, including Singer’s own Elliott Management, with an article in the Wall Street Journal heaping praise on his business-friendly approach and willingness to negotiate with the holdouts.
Anti-slavery crusader Harriet Tubman will become the first African-American to be featured on the face of US paper currency when she replaces President Andrew Jackson on the $20 bill. She will also be the first woman on US paper currency in more than a century.
The International Monetary Fund and the World Bank are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion.
United States Treasury Secretary Jacob J. Lew celebrated Argentina's return to international markets and reintegration to the global economy, following the final settlement with holdout creditors, which it described as a major milestone not only for Argentina but for the global financial system.
A federal lawsuit is claiming that Carnival Corporation is discriminating against Cuban-Americans who weren’t allowed to book tickets on a cruise to the Castro brothers dominated country. CNN reports that when Carnival announced plans for a cruise ship from its Fathom line to sail from Miami to Havana in May, Francisco Marty jumped at the opportunity to surprise his children with a trip back to their native land.
United States hedge fund billionaire Paul Singer is a big fan of Argentina’s new president. For one thing, Mauricio Macri doesn’t call him a “vulture lord” or a “bloodsucker,” as his predecessor Cristina Fernández did. More important, the newly elected Macri recently paid Singer’s firm US$2.28 billion in debt.
US regulators have rejected the plans of five big US banks for closing their operations in the event of a crisis. Banks labeled too big to fail must have a so called living will that would allow them to close down without the help of public money. Bank of America, Bank of New York Mellon, JPMorgan Chase, State Street and Wells Fargo have until 1 October to submit improved plans.