Stories for July 2014

Friday, July 4th 2014 - 06:34 UTC
US unemployment down to 6.1% and the Dow Jones at 17.000 for first time

US economy added 288,000 jobs in June, latest figures from the Bureau of Labor Statistics have shown. The unemployment rate dropped to 6.1%, its lowest level since September 2008.
Friday, July 4th 2014 - 06:18 UTC
EC visit and review of Gibraltar/Spain border welcomed by Minister Lidington

UK Minister for Europe David Lidington welcomed Thursday’s return visit to Gibraltar by the European Commission to review progress towards addressing delays at the Gibraltar-Spain Border. Lidington recently visited Gibraltar to check the situation at the border and incursions by Spanish vessels of the Rock's waters.
Friday, July 4th 2014 - 06:00 UTC
OAS supports Argentina on hedge funds issue; Timerman regrets “US attitude”

The Organization of American States (OAS) voted on Thursday to support Argentina’s position against holdout investors, as well as expressing concern over what the entity called “the behavior of speculative agents that affect global financial stability.”
Friday, July 4th 2014 - 05:50 UTC
Cobos' party question his military friend visiting the Falklands next to him

Argentina' Radical party national committee (UCR) took distance from the trip to the Falklands/Malvinas of lawmaker Julio Cleto Cobos and underlined that the visit of the former governor from Mendoza province was “something personal” and in no way involves 'institutionally' the party.
Thursday, July 3rd 2014 - 07:02 UTC
Cobos Falklands' trip receives praise: challenge for all Argentina presidential hopefuls

Despite Argentina's news agenda is absorbed by the World Cup, another possible default and the indictment for corruption of Vice-president Amado Boudou, the Argentine media still has time to talk about former vice-president and presidential hopeful Julio Cleto Cobos' current trip to the Falkland Islands.
Thursday, July 3rd 2014 - 06:57 UTC
US bank caught in bonds litigation requests guidance from Judge Griesa

The Bank of New York Mellon, fearful of being sued by Argentine bondholders and unwilling to defy a court order blocking their coupon payments, is seeking guidance from U.S. Judge Thomas Griesa on what to do with the money.
Thursday, July 3rd 2014 - 06:45 UTC
Argentine squid industry concerned with a significant drop in prices

A significant decline in catches of squid (Illex argentinus) in Argentine waters at the end of the season, has forced the return to port of several Argentine flagged jiggers, according to a report this week from the country's Coast Guard station in Mar del Plata.
Thursday, July 3rd 2014 - 06:40 UTC
Brazilian industry contracts for the third month running in May

Brazilian industrial output fell for the third straight month in May despite efforts from government to prop manufacturing through stimulus measures. Industrial production in Brazil fell 0.6% in May from April, and 3.2% from the same month a year ago, and 1.6% in the five months of 2014, government statistics agency IBGE said on Wednesday.
Thursday, July 3rd 2014 - 06:26 UTC
Roubini warns about negative consequences from the Argentine case

The economist famous for predicting the 2008 financial crisis has analyzed Argentina’s current dispute against vulture funds warning “holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors.”
Thursday, July 3rd 2014 - 06:17 UTC
Hedge funds challenge Kicillof to meet them on Thursday in Washington

The NML Capital hedge fund is ready to meet and negotiate directly with Argentine Economy minister Axel Kicillof and is willing to do so on Thursday, according to a top-ranking executive of the hedge fund involved in a long standing litigation with the Argentine government over defaulted debt.