Stories for May 18th 2012

Friday, May 18th 2012 - 23:03 UTC
World’s 29 biggest banks need to raise 566bn dollars of common equity by 2019

The world’s biggest banks may have to raise about 566 billion dollars of common equity to meet rules on capital to be implemented by 2019, curtailing shareholder returns, according to analysts at Fitch Ratings.
Friday, May 18th 2012 - 22:59 UTC
Olympic flame begins Saturday from Land’s end the 8.000 mile relay to London

The Olympic flame landed in the UK ready for the London 2012 torch relay after being flown from Athens, Greece. David Beckham used it to light a cauldron after the plane, also carrying Princess Anne and London Games organizers chair Lord Coe, arrived at a Cornish air base.
Friday, May 18th 2012 - 22:56 UTC
Buenos Aires open city for marriages of opposite of same sex partners

The City of Buenos Aires will allow foreigners that arrive in Argentina to get married –with either opposite sex or same sex partners- within five days of a request to the Civil Registry and only needing a temporary real address.
Friday, May 18th 2012 - 22:54 UTC
EU ambassador in Argentina suggests “negotiated agreement” for the Repsol/YPF dispute

The European Ambassador to Argentina, Spanish native Alfonso Díez Torres, stressed on Friday that the solution for the YPF seizure conflict would be “a negotiated agreement” between Argentina and Repsol.
Friday, May 18th 2012 - 22:39 UTC
Repsol cancels contract to supply Argentina with LNG; YPF ensures supply

Spain’s Repsol has cancelled its contract to supply Argentina with liquefied natural gas (LNG), just weeks after the country seized control of the company's majority stake in YPF, a document obtained by international news agency Reuters showed.
Friday, May 18th 2012 - 22:35 UTC
Cristina Fernandez insisted in Angola on the South Atlantic as “an area of peace”

President Cristina Fernández highlighted the importance of keeping the South Atlantic region as ”an area of peace, free of militarization,” during her speech before the National Assembly of Angola on Friday.
Friday, May 18th 2012 - 18:10 UTC
Latam Nobel Prize blames Peronism for Argentina’s “self destruction” addiction

Literature Nobel Prize Mario Vargas Llosa blamed Peronism for the self-destruction which is leading Argentina to underdevelopment, poverty and populism, and compared the dominating political movement trajectory to that which took Adolf Hitler to power.
Friday, May 18th 2012 - 18:03 UTC
CFK highlights “magnificent opportunity” for Angola/Argentina trade

President Cristina Fernández highlighted the “magnificent opportunity” Argentina and Angola had in coming together on future business transactions, particularly in the face of the global financial crisis, while addressing a meeting with businessmen in Angloa where she is on a three day official visit.
Friday, May 18th 2012 - 17:57 UTC
EC and ECB making contingency plans for possible Greek exit from the Euro

European Commission and European Central Bank are making contingency plans for a possible Greek exit from the euro, an EU commissioner says.
Friday, May 18th 2012 - 16:43 UTC
JPMorgan admits billions of losses from flawed trading strategy with derivatives

The US mega-bank JPMorgan Chase & Co loss from derivatives trading may widen to 5 billion dollars, the Wall Street Journal reported on Friday. CEO Jamie Dimon personally approved the strategy that led to the trades, without monitoring how they were executed, the newspaper said.