Stories for February 4th 2014

Tuesday, February 4th 2014 - 23:09 UTC
Deputy PM Nick Clegg in Colombia calls for new drugs policy in the UK

The UK should abandon its current drugs policy because the war on drugs is not being won, Nick Clegg has said. Speaking on a visit to Colombia, the deputy prime minister said different approaches were needed although he did not back full legalization. He also praised President Juan Manuel Santos commitment to the peace process with FARC and welcomed the human rights' policy.
Tuesday, February 4th 2014 - 23:00 UTC
Desperate Argentine officials target big business as the culprits of the current situation

The Argentine government announced on Tuesday it has started “a thorough investigation on major foreign trade companies” which have allegedly registered accounting irregularities for 6.8 billion dollars. Cabinet Chief Jorge Capitanich said the Central Bank has reported “mining, grain, food, car and oil companies have exported but failed to account for foreign currency income.”
Tuesday, February 4th 2014 - 21:39 UTC
Microsoft names Satya Nadella as new CEO; Gates becomes technology advisor

Microsoft Corp named company veteran Satya Nadella as its next chief executive officer, ending a longer-than-expected search for a new leader after Steve Ballmer announced his intention to retire in August.
Tuesday, February 4th 2014 - 09:03 UTC
Brazilian police challenge Rousseff and threaten to strike during the World Cup

Only four weeks away from the World Cup and in a climate of growing social unrest Brazil police unions are threatening the government of President Dilma Rousseff with a national strike. For Rousseff it also means an additional challenge since on February 10 the ruling Workers Party will be launching her re-election bid for next October's presidential election.
Tuesday, February 4th 2014 - 09:00 UTC
Yellen is sworn in as chair of Federal Reserve; Bernanke returns to academia

Janet Yellen on Monday was sworn in as chair of the Federal Reserve, the US central bank, replacing Ben Bernanke in the role. She is the first woman to hold the post at the Washington-based bank.
Tuesday, February 4th 2014 - 08:56 UTC
China became Uruguay's main trade partner in 2013

China became Uruguay's main trade partner in 2013 totaling 20.9% of all trade according to the latest stats from the Central bank. This leaves China three percentage points ahead of Brazil, 18.8% (traditionally the main partner) and almost four ahead of Argentina with 18.1%.
Tuesday, February 4th 2014 - 08:50 UTC
Quasi-monies could be back in Argentina if provinces don't receive financial support by March

Quasi monies could be back in Argentina since many provinces and city councils are running short of funds and the federal government is not sending the checks be it because of political differences or simply because there is not enough money to go around.
Tuesday, February 4th 2014 - 08:47 UTC
YPF buys a Petrobras Neuquén/Mendoza block with production of 10.000bpd

Argentina oil company YPF has bought out Brazil player Petrobras to take over full ownership of an exploration block in Neuquen and Mendoza provinces. YPF agreed to pay 40.7 million dollars for Petrobras' operatorship and 38.45% stake in the Puesto Hernandez block, cutting short a joint venture due to expire in 2016, according to the Argentina explorer.
Tuesday, February 4th 2014 - 08:39 UTC
Brazil's experiences the worst January trade balance in years: 4.06bn deficit

Brazil's balance of trade began 2014 with disappointing results, after closing January with a deficit of 4.06 billion dollars, according to the figures released by the Ministry of Industry, Development and Foreign Trade. Exports totaled 16.02bn dollars, while imports reached 20.08bn.
Tuesday, February 4th 2014 - 08:37 UTC
Extent of corruption in Europe is 'breathtaking' and costs at least 120bn Euros

The extent of corruption in Europe is “breathtaking” and it costs the EU economy at least 120bn Euros annually, the European Commission says. EU Home Affairs Commissioner Cecilia Malmstroem has presented a full report on the problem. She said the true cost of corruption was “probably much higher” than 120bn.