Stories for March 2014

Friday, March 28th 2014 - 06:31 UTC
US Fed rejects Citigroup plans to boost dividends for shareholders

US Federal Reserve has rejected plans by Citigroup to buy back shares and boost dividends for shareholders. It cited deficiencies in the bank's ability to plan for how stressful situations would hurt its business. The decision is a setback for Citigroup boss Michael Corbat who was brought in to bolster internal controls after the bank failed stress tests two years ago.
Friday, March 28th 2014 - 06:26 UTC
Bank of America agrees to pay 9.5bn to settle charges from US housing collapse

Bank of America agreed to pay 9.5bn to settle charges it misled US mortgage lenders Fannie Mae and Freddie Mac before the housing crisis in 2008. The bank will pay 6.3bn in cash and buy back 3.2bn in mortgage securities.
Friday, March 28th 2014 - 06:22 UTC
Argentine economy expands 3%, thus saving 3.5bn in payments to bonds tied to GDP

Argentina's National Institute of Statistics and Census, Indec, announced that the country's GDP grew by 3% across the last calendar year, dropping short of the figure necessary to service bonds linked to the nation's economic activity.
Friday, March 28th 2014 - 06:15 UTC
Obama praises Francis and invites him to the US; Vatican points out some differences

President Barack Obama and Pope Francis focused publicly on their mutual respect and shared concern for the poor on Thursday during their meeting in the Vatican, but the lengthy private discussion also highlighted the deep differences between the White House and the Catholic Church on abortion and birth control.
Thursday, March 27th 2014 - 08:46 UTC
Strike paralyzes Paraguay in demand for pay rises and against privatizations

Public life in Paraguay was largely paralyzed on Wednesday by a nationwide strike in demand of higher salaries and against the privatization plans of President Horacio Cartes. Peasants also joined the stoppage and marched on the capital Asunción protesting against the soy-agri-business which is leaving them landless.
Thursday, March 27th 2014 - 08:38 UTC
US Supreme Court confirms Argentina has friends in its litigation with hedge funds

The US Supreme Court has confirmed that Brazil, Mexico and France have officially presented their opinions on an appeal currently being studied in the judicial authorities, which relates to the litigation held against Argentina by the hedge funds which the administration President Cristina Fernandez refers to as 'vulture funds'.
Thursday, March 27th 2014 - 08:32 UTC
Gibraltar news promotion through a micro-site agreed with The New Statesman

The Government of Gibraltar and The New Statesman launched a six-month media partnership that will see New Statesman online host a Gibraltar micro-site featuring the latest news, interviews and insight from the Rock. The partnership also includes a monthly print feature published on the last issue of every month until August 2014.
Thursday, March 27th 2014 - 08:19 UTC
Peruvians encouraged by the squid potential in the area recovered from Chile

The 50,000 square kilometers of maritime space Peru gained from the favorable ruling by the International Court of Justice in The Hague, on the border dispute with Chile, have a potential fishing activity that includes 200,000 tons of Peruvian squid, according to the country's Sea Institute, (Imarpe).
Thursday, March 27th 2014 - 08:16 UTC
Petrobras scandalous purchase of US refinery should be addressed by Congress

Former Brazilian president Fernando Henrique Cardoso said Congress should investigate a growing scandal surrounding the controversial 2006 purchase by oil giant Petrobras of a Texas refinery.
Thursday, March 27th 2014 - 08:07 UTC
Brazil lower house approves internet legislation to ensure privacy and neutrality

The lower house of Brazil’s Congress has approved legislation meant to ensure the privacy of Internet users and to guarantee what is called “Internet neutrality”, that all content be treated equally by carriers. But it dropped a demand that all data on Brazilians be saved within the country.