Stories for July 2014

Tuesday, July 15th 2014 - 06:49 UTC
Citigroup agrees to pay 7bn dollars to settle sub-prime mortgages investigation

Banking giant Citigroup will pay 7bn dollars to US authorities to settle an investigation into risky sub-prime mortgages. Citigroup will pay 4bn to the Department of Justice and 2.5bn for “consumer relief”.
Tuesday, July 15th 2014 - 06:42 UTC
Chinese president Xi arrives in Fortaleza for the BRICS summit

Chinese President Xi Jinping arrived on Monday to Fortaleza, Brazil for a summit of the BRICS countries. The sixth summit of the BRICS, which consists of Brazil, Russia, India, China and South Africa, will be held in Brazil from Tuesday to Wednesday.
Tuesday, July 15th 2014 - 06:15 UTC
Hague stepping down as Foreign Secretary; Hammond apparent replacement

William Hague is stepping down as UK Foreign Secretary, the government said on Monday, as Prime Minister David Cameron reshuffled his cabinet in an apparent attempt to build a winning team for the general election in May next year.
Tuesday, July 15th 2014 - 03:10 UTC
Blatter praises Brazil's “very special World Cup” and leaves Rio 'a happy man'

FIFA president Sepp Blatter has praised a “very special World Cup” in Brazil on Monday and gave the hosts a mark of 9.25 out of 10, slightly better that the 9 he had given South Africa four years ago.
Monday, July 14th 2014 - 23:26 UTC
Uruguayans believe government is on the right track, but performance is missing

A majority of Uruguayan believe the current government is on the right course but its performance is not satisfactory, according to a local public opinion poll from FACTUM. In effect seven out of ten agree with the course but the same percentages believe the performance is bad.
Monday, July 14th 2014 - 23:22 UTC
Uruguayan diplomat's Oxford experience with a Chevening scholarship

Laura Silva has just returned to Uruguay after successfully completing her Diplomacy Master’s degree in Oxford, sponsored by a Chevening scholarship. The following is a piece Ms Silva wrote about her experience at Oxford University.
Monday, July 14th 2014 - 23:09 UTC
Paraguay's currency steadily becoming a 'strong' currency based on positive indicators

The Paraguayan currency, Guaraní, is expected to revalue 1.4% against the US dollar by the end of the year becoming one Latam's strongest given its positive macroeconomic indicators. This follows a strong performance during the first half of the year when the price of the dollar in the capital Asunción wholesale money exchanges dropped from 4.450 Guaraní to 4.240, according to private consultants “Consensus Economics”.
Monday, July 14th 2014 - 23:03 UTC
Mexico rapidly overtaking Brazil as Latam's leading auto producer

Pacific Alliance member Mexico is poised to overtake Brazil, the leading economy in Mercosur, as the top Latin American auto producer for the first time in more than a decade as surging exports to the U.S. spur factory openings and record output.
Monday, July 14th 2014 - 06:26 UTC
Promising scenario for European Union beef production and exports

European Union (EU) meat production is projected to start growing in 2014, according to the European Commission, as Europe’s economic recovery solidifies. This could represent an increase of 0.7% year-on-year for beef, veal, pork, poultry, sheep and goat meat.
Monday, July 14th 2014 - 06:17 UTC
GM to manufacture aluminium engines in Argentina for local and export markets

General Motors plans to invest 740 million dollars through 2016 in Argentina to build a factory to turn out aluminium motors. The announcement comes as the Argentine auto industry saw a more than 20% drop in production in the first quarter compared to the record performance in the same period in a year earlier.