Stories for October 2013

Wednesday, October 23rd 2013 - 00:01 UTC
JP Morgan faces record 13 billion dollars fine for mortgage-backed securities

US banking giant JP Morgan is set for a record 13 billion dollars fine to settle investigations into its mortgage-backed securities, US media reports have said. A tentative deal is believed to have been reached in talks with senior US Justice Department officials.
Tuesday, October 22nd 2013 - 23:56 UTC
US jobs figure validate expectations that Fed stimulus will continue until 2014

US stocks climbed on Tuesday pushing the S&P 500 to a new intraday record, after weaker-than-expected job creation last month validated expectations the Federal Reserve will maintain its economic stimulus into next year.
Tuesday, October 22nd 2013 - 22:59 UTC
EU imposes punitive duties on biodiesel from Argentina alleging dumping

European Union member states agreed to impose punitive duties on imports of biodiesel from Argentina and Indonesia, which are accused of selling it into the bloc at unfairly low prices, according to diplomats. Argentina has anticipated it will take the case to the World Trade Organization.
Tuesday, October 22nd 2013 - 22:50 UTC
Cuba to scrap two-currency system which helped creation of a two-tier class system

Cuba is to scrap its two-currency system in the latest financial reform rolled out by President Raul Castro, official media report. Since 1994 Cuba has had two currencies, one pegged to the US dollar and the other worth only a fraction of that. The more valuable convertible peso (CUC) was reserved for use in the tourism sector and foreign trade. Now its value will be gradually unified with the lower-value CUP, ending a system resented by ordinary Cubans.
Tuesday, October 22nd 2013 - 20:17 UTC
UK reaffirms support for Gibraltar and warns about “escalation”

Europe Minister David Lidington repeated the UK’s commitment to the people of Gibraltar in a speech to a packed Gibraltar Day reception in the Guildhall in London. Lidington spoke of the close ties that continued to bind the City of London and the UK to Gibraltar.
Tuesday, October 22nd 2013 - 20:01 UTC
Chilean leading presidential candidate comments trigger anti-terrorism law debate

Chile’s controversial anti-terrorism law became a major talking point for presidential candidates as the country nears elections after front-runner Michelle Bachelet spoke out against the law’s application in a widely publicized arson case which resulted in two deaths.
Tuesday, October 22nd 2013 - 19:58 UTC
Interpol and Rio 2016 Olympics committee sign agreement to strengthen security

An agreement has been signed by INTERPOL and the Rio 2016 Organizing Committee for the world police body to provide additional support to the Brazilian authorities in ensuring the safety and security of the event.
Tuesday, October 22nd 2013 - 19:38 UTC
Lula da Silva praises protests in Brazil as something 'healthy' for democracy

Former president Lula da Silva described the street protests that have shaken Brazil as something 'good and healthy' and said demands reveal that the Brazilian people have discovered that it is possible to aspire for more, although when as a union leader he marched “I didn't destroy public or private property”.
Tuesday, October 22nd 2013 - 19:32 UTC
Uruguay and Brazil agree Mercosur will make a joint trade proposal to EU next December

Uruguay and Brazil have concluded their proposals to present to the European Union and are waiting for Argentina and Paraguay, in the framework of current negotiations, delayed for years, to reach a free trade and cooperation agreement between the two blocs.
Tuesday, October 22nd 2013 - 16:34 UTC
Cartes and Mujica will address Mercosur and port facilities in Friday's meeting in Montevideo

Paraguayan president Horacio Cartes will be visiting Uruguay next 25 October to meet with his peer Jose Mujica and a month later will be flying to the Vatican to visit Pope Francis, November 25, announced Foreign minister Eladio Loizaga.