Spain's NH Hoteles has received a preliminary offer from US private equity firm KKR to buy bonds that can be converted into shares of the debt-laden hotel chain. NH Hoteles, Europe's third largest business hotel operator based on rooms, has long been tipped as a private equity target given its large debt and that of its savings bank shareholders, which together own nearly a third of the firm.
China’s communist party leadership has launched a probe into the alleged family wealth of Wen Jiabao at the premier's request, according to sources. In a letter submitted to the Politburo Standing Committee, the party's top decision-making body of which the premier is also a member, Wen asked for a formal inquiry into claims made by The New York Times.
Standard & Poor's lost a landmark case in Australia over top-flight ratings given to financial products that collapsed in the build-up to the 2008 global economic crisis. The Federal Court of Australia on Monday ruled that S&P AAA rating of constant proportion debt obligation notes created by banking giant ABN AMRO and sold to the councils of 13 Australian towns had been misleading and deceptive.
A ‘Short Service of Thanksgiving and Commemoration on the Thirtieth Anniversary of the Liberation of the Falkland Islands’ will be held on Saturday 10 November at the Liberation Monument in Stanley in the presence of HRH The Duke of Kent and returning veterans of the 1982 war.
The son of Falkland Islands war hero Colonel ‘H’ Jones is to take command of Britain’s 9.000 troops in Afghanistan, reports the Daily Mail. Brigadier Rupert Jones was 13 when his father died during a one-man charge on an Argentine trench in the Battle of Goose Green in 1982, for which he was posthumously awarded the Victoria Cross.
Uruguay expects 243 calls of cruise vessels during this summer 2012/13 season (October/April) which means, if confirmed there will be a 9.3% increase over the same period in the 2011/12 season. The information published in the Uruguayan presidency web says Montevideo expects 131 calls while Punta del Este 112.
US Hispanics are over 50 million according to the 2010 census and as the most important minority their influence could be decisive on Tuesday 6 November when the presidential and legislative election. Between the two censuses (2000/2010) Hispanics’ growth rate was four times the overall population rate.
A majority of Argentines disapproves of President Cristina Fernandez but more significantly 40% believe she is losing control of her administration and another 20% consider it a fact, according to Sergio Berenztein from the respected pollster Poliarquía.
The leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called ‘fiscal cliff’ is the biggest short-term threat to global growth.
Law and order seems out of control in Brazil’s largest city and financial hub. To the usual appalling crime statistics follows a rash of police officers killings. This weekend an off duty military police officer was the twenty second murder victim and the 90th killed in the city so far this year.