Stories for August 16th 2014

Saturday, August 16th 2014 - 11:59 UTC
Brazil on the ledge of recession as activity drops sharply in June

Economic activity in Brazil dropped sharply in June as the World Cup football tournament shut down shops and factories across the country, adding to signs Latin America's largest economy slipped into recession.
Saturday, August 16th 2014 - 11:49 UTC
Plenty of generic Viagra in Brazilian pharmacies as patent expires

The day after Pfizer Inc’s patent for Viagra expired in Brazil, Carlos Sanchez flooded pharmacies with his generic erectile dysfunction pills. It was a day his army of lawyers, researchers and marketers had been preparing for more than three years, even winning a bid to move up the patent’s expiration date.
Saturday, August 16th 2014 - 11:32 UTC
Trust in Argentine reliability has vanished, as a result of the bonds' litigation

Debt talks on Argentina’s defaulted bonds in the hands of holdout hedge funds ultimately collapsed this week due to disagreements over prices and the absence of a government guarantee to honor payments on the paper, sources close to the discussions said.
Saturday, August 16th 2014 - 11:21 UTC
All ready in Uruguay to receive Guantanamo prisoners, but public opinion is divided

Uruguay will be receiving very soon six men who have spent more than a decade locked up without charge at the US base at Guantánamo Bay in Cuba. The prisoners have been offered a refuge in Uruguay, where President José Mujica agreed as a humanitarian gesture to accept men that the U.S. has decided do not pose a threat but cannot return to their homelands.
Saturday, August 16th 2014 - 11:15 UTC
Billionaire Soros becomes the fourth largest holder of YPF shares

George Soros’s 28 billion family office boosted its stake in YPF SA, making Argentina’s largest oil company its biggest U.S.-traded stock holding in the second quarter. Soros Fund Management LLC added 8.47 million shares of YPF, according to a regulatory filing Thursday, bringing its total position to 3.5% of the company’s American depositary receipts.
Saturday, August 16th 2014 - 09:01 UTC
Argentine Euro-bond holders have appealed Griesa's ruling blocking payment

Holders of Euro-denominated Argentine bonds have appealed judge Thomas Griesa's ruling blocking Argentina from making payments on their debt, according to a court filing.
Saturday, August 16th 2014 - 08:45 UTC
Global trade union summit condemns actions of vulture funds against Argentina

The International Transport Workers’ Federation passed on Friday a motion condemning the actions of the 'vulture funds' against Argentina and calling ”not to allow the vulture funds to paralyze the debt-restructuring processes of developing countries or prevent states from exercising their right to protect their citizens under international law”, according to a release from the Argentine embassy in London.
Saturday, August 16th 2014 - 08:32 UTC
Argentine official inflation in July, 1.4% and 16.7% in first seven months

Argentine inflation rose 1.4% during July leaving consumer prices 16.7% higher than at the beginning of the year, official data showed on Friday. The July index was slightly higher than the 1.3% of June and confirms Argentina is experiencing one of the highest inflation rates in the world and only second to Venezuela in Latin America.
Saturday, August 16th 2014 - 08:28 UTC
Ebola-affected region athletes involved in body contact disciplines banned from Youth Games

The International Olympic Committee (IOC) announced on Friday it was prohibiting young athletes from the Ebola-affected region of West Africa from participating in certain events at the Youth Olympic Games in Nanjing, China.