Stories for May 2010

Thursday, May 13th 2010 - 21:09 UTC
Korean Jigger Operating in Falklands’ Waters to be Broken Up in Punta Arenas

Chilean authorities in the extreme south of the country have decided to deny port access in Punta Arenas to a Korean flagged jigger which arrived from the Falkland Islands having suffered extensive damage following a fire in the engine room. Her fate seems to be breaking her up.
Thursday, May 13th 2010 - 11:09 UTC
Ten “Grumpy” Countries Challenge Resumption of EU/Mercosur Trade Talks

Ten European countries, fearing the impact on agriculture, are openly challenging the EU decision to resume trade talks with Mercosur which is to be officially announced next Monday when the opening of the Latin America, the Caribbean and the European Union Summit in Spain.
Thursday, May 13th 2010 - 11:04 UTC
The New “British Foreign Policy” Promised by Secretary William Hague

The new British Foreign Secretary William Hague lost no time in declaring that he would run a “distinctively British foreign policy.”
Thursday, May 13th 2010 - 11:01 UTC
Europe Calls on Bulgaria, Cyprus, Denmark and Finland to Reduce Budget Deficits

Government deficits in Bulgaria, Cyprus, Denmark and Finland have gone too far over the 3% of GDP reference value for the European Union and need to be brought down through stronger budget consolidation measures, concluded the European Commission in reports considered on Wednesday.
Thursday, May 13th 2010 - 10:58 UTC
Bolivian Presidency Buys Manchester United Dassault Falcon Craft

The Bolivian government confirmed this week that it has bought a luxury airplane model Dassault Falcon 900Ex Easy that originally belonged to Manchester United. The admission came in the midst of growing social unrest to protest for a higher national minimum wage.
Thursday, May 13th 2010 - 10:56 UTC
Brazil Poised to Raise Rates and Make Significant Cuts in Government Spending

Brazilian President Lula da Silva on Wednesday said the country's interest rates could go up again this year “if necessary,” even in the run-up to the presidential election. Brazil is holding elections next October and will be voting for the successor of Lula da Silva who is barred from running a third consecutive mandate.
Thursday, May 13th 2010 - 10:53 UTC
UNASUR Closer to its Formal Existence: Peru Ratifies Founding Charter

Peru became the fifth country to ratify the Union of South American Nations founding treaty, which means the organization is now only four short for the nine to become legally effective.
Thursday, May 13th 2010 - 10:47 UTC
US Corn Futures Rise to Two-Month High on Mounting Demand from China

Corn futures rose to a two-month high on mounting demand from China, the world’s second-biggest consumer.
Thursday, May 13th 2010 - 10:41 UTC
Morgan Stanley Denies Having Misled Investors about Mortgage Derivatives

Morgan Stanley (NYSE:MS) CEO James Gorman denied allegations the US bank misled investors about mortgage derivatives it sold them. The firm is being probed by US prosecutors over whether the bank misled clients when it sold them collateralized debt obligations as its own traders bet that the value of the securities would drop, the Wall Street Journal reported Wednesday.
Thursday, May 13th 2010 - 10:38 UTC
Brazil Announces Discovery of Field with 4.5 Billion Barrels of Light Oil

Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has revealed that the 2-ANP-1-RJS well, dubbed Franco, is estimated to hold 4.5 billion barrels of recoverable light oil.