Stories for March 5th 2013

Tuesday, March 5th 2013 - 21:51 UTC
The Swiss are also annoyed: windfall vote to limit “fat-cat executive pay”

The Swiss have approved a “fat-cat referendum” to limit executive pay by a crushing 68% to 32%, no great surprise perhaps given the current mood on bankers and other superrich around the globe. The referendum was the brainchild of Thomas Minder, the independent legislator who began his struggle to give shareholders in Swiss-listed companies the right to control the pay of executives and board members in 2006.
Tuesday, March 5th 2013 - 21:43 UTC
UK outgunned in EU bankers’ bonus cap debate; Germany could come to the rescue

Britain was left isolated in Europe on Tuesday after it failed to secure backing to water down new EU rules limiting bankers' bonuses, a measure that could threaten London's dominance as a financial centre.
Tuesday, March 5th 2013 - 21:15 UTC
“Malvinazo” out-blasted in Ushuaia by ‘Star Princess’ playing “God save the Queen”

A demonstration by pickets in the Argentine Tierra del Fuego port of Ushuaia protesting the docking of the ‘Star Princess’ cruise which arrived from the Falkland Islands was contained by local security forces and the blaring of ‘God save the Queen’.
Tuesday, March 5th 2013 - 19:07 UTC
Young Falkland Islanders’ voice their views

By Harold Briley - Circuited well in advance of their historic referendum on their future, a booklet voicing the views of the post-invasion generation of Islanders is a vital part of the new Falkland Islands campaign to explain their case internationally. In this contribution to the referendum debate, MercoPress takes a more comprehensive look at their attitudes.
Tuesday, March 5th 2013 - 17:00 UTC
Singapore wealth fund boosts Spain’s Repsol, recovering from YPF nationalization

Singapore wealth fund Temasak has bought a 5% stake in Spanish oil group Repsol for just over one billion Euros, raising its total stake in the company to 6.3%, Repsol said in a release. The operation involves the entire portfolio of Repsol treasury stock at 16.01 Euros per share for a total of 1.036 billion Euros (1.35bn dollars).
Tuesday, March 5th 2013 - 16:52 UTC
Libor rate-rigging: UK regulator failed to act on warnings of “low-balling”

The UK Financial Services Authority repeatedly failed to act on warnings that banks were trying to rig inter-bank lending rates (mainly Libor) at height of the financial crisis, according to an internal review published Tuesday by the regulator.
Tuesday, March 5th 2013 - 05:33 UTC
An estimated one million dollars ‘trickled’ per day from Argentina to Uruguayan banks

The dollar ‘clamp’ in Argentina had led to a ‘dollar trickle’ to Uruguayan banks, which according to official data from the two central banks can be estimated at a million dollars per day.
Tuesday, March 5th 2013 - 05:29 UTC
February inflation in Uruguay again above target: 8.89% in the last twelve months

The Consumer Price Index, CPI, in Uruguay climbed 0.99% during February, accumulating 2.91% in the first two months of the year, and 8.89% in the last twelve months, far above the government’s target of 4% to 6%, according to the National Institute of Statistics, INE Monday release.
Tuesday, March 5th 2013 - 05:18 UTC
Brazil’s “competitiveness cliff” and commodities dependency exposed in World Bank report

Brazil is not only the biggest country in Latinamerica but also has the largest economy and expects to play a leading role in the global economy in the near future, however a report from the World Bank is not so enthusiastic and points out to a series of challenges the country must address if it wishes to effectively become a super star.
Tuesday, March 5th 2013 - 05:07 UTC
Chavez continues ‘to cling to Christ and life’ but suffering ‘new and severe’ infection

Venezuelan President Hugo Chavez is suffering from a “new and severe” infection that has worsened his breathing as he undergoes intensive chemotherapy, the government said late Monday.