United States

United States
Thursday, June 19th 2014 - 06:09 UTC

Fed cuts US growth forecast, but will also further trim stimulus program

As far as interest rates go, Ms Yellen said they would remain near zero “for a considerable time” after the bond buying ends.

The US Federal Reserve has cut its growth forecast for 2014 because of the harsh winter weather. The central bank is now predicting growth of between 2.1% and 2.3% for this year, down from its March forecast of 2.8% to 3%.

Thursday, June 19th 2014 - 02:26 UTC

Griesa does not trust Cristina Fernandez and condemns the word “extortionist”

 “There is a difference between negotiation and extortion” Cristina Fernandez said after the Supreme Court decision

US Judge Tomas Griesa said on Wednesday that the televised speech delivered by President Cristina Fernández on Monday after the US Supreme Court declined to hear an appeal by Argentina in its battle against the holdouts was “a problem” for negotiations and implied he did not trust the Argentine leader.

Wednesday, June 18th 2014 - 08:20 UTC

Obama pledges to crack down on illegal fishing and enforce traceability

The message was delivered in a taped message from Obama and in person by Kerry at an “Our Ocean” conference in Washington

The Obama administration announced on Tuesday an initiative to track every fish sold in the United States, a move designed to crack down on illegal, unreported and unregulated fishing, mislabeling of seafood and related problems.

Wednesday, June 18th 2014 - 07:52 UTC

“Judge Griesa's message is reasonable and conciliatory” argues Lavagna

“Take notice of the subtle and surprising statements from Griesa to sit and negotiate”, insisted the former Economy minister

Argentina's former Economy Minister and architect of the 2005 rescheduling of defaulted debt, Roberto Lavagna called for “calm” and “seriousness” to rethink the country's legal strategy following the setback suffered on Monday when the US Supreme Court decided not to hear its appeal against holdout hedge funds.

Wednesday, June 18th 2014 - 07:45 UTC

IMF concerned about 'wider systemic implications' of the US Supreme Court decision on Argentina

“We now have a glimpse of the sovereign debt world after Argentina,” said sovereign debt expert professor Anna Gelpern.

The International Monetary Fund is “concerned about wider systemic implications” the ruling by the US Supreme Court could prompt following its decision not to consider Argentina’s appeal aimed at staving off a default.

Wednesday, June 18th 2014 - 07:37 UTC

Argentina plans to reopen debt swap program and will request to meet Griesa

Minister Kicillof revealed the Argentine government's strategy at a press conference and plans to meet with Congress leaders

Economy Minister Axel Kicillof has announced that the government plans to reopen the debt swap program in the hope of renegotiating bonds held by hedge funds, after the US Supreme Court declined to take Argentina's case against the so-called 'vulture funds'.

Tuesday, June 17th 2014 - 06:27 UTC

IMF cuts US growth forecast and recommends 'continued policy support'

The US economy would only return to full employment by the end of 2017, according to the IMF report

The International Monetary Fund cut its growth forecast for the United States and said the economy would not reach full employment until the end of 2017, allowing the Federal Reserve to take its time before raising interest rates.

Monday, June 16th 2014 - 05:34 UTC

Argentina hopeful US Supreme Court will take the hedge funds holdouts case

US Prosecutor General Donald Verrilli is expected to be 'consulted' on the case by the Court .

US Supreme Court is likely to issue a ruling in the upcoming months favoring Argentina’s position in the country’s dispute against hedge funds ('vulture funds'), anticipated former Argentine Finances Secretary Guillermo Nielsen.

Friday, June 13th 2014 - 07:44 UTC

US Supreme Court rules 8-0 against Coca Cola for 'false, misleading label'

“Pomegranate Blueberry” beverage offered by Coke's Minute Maid unit is misleading because 99% of the drink is apple and grape juice

The United States Supreme Court on Thursday sided with juice maker Pom Wonderful in its long-running false advertising dispute with the Coca-Cola Co., a decision that could open the door to more litigation against food makers for deceptive labeling.

Friday, June 13th 2014 - 07:32 UTC

Easy-monetary policy advocates join the Federal Reserve; Fischer confirmed vice-chairman

Stanley Fischer, Lael Brainard and Jerome Powel, any of the three with impressive records

The US Senate confirmed on Thursday Stanley Fischer to be vice chairman of the Federal Reserve and approved Jerome Powell and Lael Brainard as members of the central bank's board, bolstering the Fed as it prepares to wind down its extraordinary stimulus.

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