Stories for August 21st 2014

Thursday, August 21st 2014 - 08:30 UTC
Kicillof: “no change of NY jurisdiction, but a change of payment location”

Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.
Thursday, August 21st 2014 - 08:06 UTC
'A contempt of court does not apply to sovereign Argentina', says Capitanich

Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.
Thursday, August 21st 2014 - 07:55 UTC
Falklands war vessel in which Argentina surrendered South Georgia, to the scrap yard

The Royal Navy man-o-war on which Argentina formally surrendered the island of South Georgia during the 1982 Falklands War began its final journey on Wednesday before being scrapped. HMS Plymouth could not be saved despite years of attempts to find a permanent home for the frigate.
Thursday, August 21st 2014 - 07:46 UTC
'Malvinas Institute' in La Plata university to research 'sovereignty policies'

The University of La Plata, province of Buenos Aires, is setting up a “Malvinas Institute” that will specialize in 'sovereignty policies' research, as part of the Political Sciences department. The new research and extension center will be located in a former military barracks in downtown La Plata which was ceased to the university.
Thursday, August 21st 2014 - 07:31 UTC
“Slack of US labor market” keeping the Fed from raising interest rates

The US Federal Reserve hinted that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating. At the same time, most Fed officials wanted further evidence before changing their view on when rates should rise, according to the minutes from the central bank's July 29-30 meeting.
Thursday, August 21st 2014 - 07:18 UTC
Argentina back-steps on applying 'anti-terrorism' law on a US company

Argentina's head of the securities regulator, CNV, Alejandro Vanoli said that the anti-terrorism law will not be applied against the United States printing firm RR Donnelley, as president Cristina Fernández had announced last Thursday.
Thursday, August 21st 2014 - 07:07 UTC
Aurelius Capital brands Argentine leaders 'outlaws' for flouting US courts orders

One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.
Thursday, August 21st 2014 - 06:58 UTC
Italian bondholders' representative supports Argentina decision to change debt's jurisdiction

The Italian legal representative of Argentine bondholders, Tullio Zembo praised the Sovereign Public Debt Payment Law announced by President Cristina Fernandez, saying the decision to change the debt’s jurisdiction to Buenos Aires is “probably the most appropriate.”
Thursday, August 21st 2014 - 06:46 UTC
Environmentalist Marina presidential candidate but with a pro-agribusiness in the ticket

Environmentalist Marina Silva officially has launched a bid for president, upending Brazil's October 5 elections and threatening the ruling Workers' Party's 12-year hold on power. So far a vice-presidential candidate for the Brazilian Socialist Party, Marina accepted the nomination to top the ticket after candidate Eduardo Campos, a former governor and rising political star, was killed in a plane crash last week.
Thursday, August 21st 2014 - 06:41 UTC
Cristina Fernandez blasts those who invest in the 'illegal currency' (US dollar)

Argentine president Cristina Fernandez emphasized on Wednesday evening the need to amplify “the local financial market so we will not depend on foreign fluctuations,” during the celebration of Buenos Aires Stock Market 160th anniversary.