Stories for August 29th 2014

Friday, August 29th 2014 - 08:11 UTC
US economy rebounds strongly in the second quarter: 4.2% annual rate

The US economy rebounded more strongly than initially thought in the second quarter and details of a report on Thursday pointed to sustainable underlying strength. GDP expanded at 4.2% annual rate instead of the previously reported 4.0% pace, the Commerce Department said, reflecting upward revisions to business spending and exports.
Friday, August 29th 2014 - 08:07 UTC
Singer extends 'discovery' looking for Argentine assets in Chinese banks

As it did in Nevada and California, a unit of billionaire Paul Singer's Elliott Management, which is Argentina's main holdout creditor, is extending its legal fight with the country to China. NML Capital served subpoenas this week to Bank of China (BOC) and Industrial and Commercial Bank of China (ICBC) in an effort to obtain information on 6.8bn dollars in financing for deals signed by the two countries in July.
Friday, August 29th 2014 - 07:32 UTC
Malaysia Petronas joins YPF to develop shale-oil reserves in Argentina

Argentine government controlled energy company YPF said on Thursday it signed a 550 million dollars agreement with Malaysia's Petronas to develop shale-oil reserves in the massive Vaca Muerta formation.
Friday, August 29th 2014 - 06:49 UTC
New technology could end the debate over pipeline safety

Who could have ever imagined that North America would surpass Saudi Arabia as the world’s largest producer of oil and natural gas liquids? A decade ago, that would have seemed laughable. Yet that’s exactly what has happened; and it’s not just Saudi Arabia that has been left in North America’s dust -- Russia has, too.
Friday, August 29th 2014 - 06:46 UTC
Mercosur main partners in another attempt to re-launch withering economies

Argentine Economy minister Axel Kicillof left Buenos Aires on Thursday for Brazil, where he will meet with fellow ministers from the country to discuss the current situation of bilateral trade and the automotive industry.
Friday, August 29th 2014 - 06:25 UTC
UK expertise to help Santiago's with a 'greener' public transport system

The British Embassy in Chile together with the Metropolitan Public Transportation Department (DTPM) and the consultant company Sistemas Sustentables Ltd., Chile hosted the workshop ‘Improving bus technology within the public transport system of Santiago’.
Friday, August 29th 2014 - 06:17 UTC
Capitanich downplays success of strike and claims only well paid unions joined

Argentine cabinet chief Jorge Capitanich downplayed the success and support of Thursday's strike and stressed that the income tax, one of the key points in the protest only reaches 10.4% of workers and criticized radical groups for supporting those “who earn most”
Friday, August 29th 2014 - 06:04 UTC
Argentina says it won't yield to unions; controversy over success of the national strike

Argentina's Labor minister Carlos Tomada said that it is not a government’s priority to discuss the modification of the income tax or re-opening wage talks, as dissident unions demanded during a general strike on Thursday which partially paralyzed Buenos Aires city since several transport unions joined the stoppage.
Friday, August 29th 2014 - 05:56 UTC
Argentina will only negotiate with all bondholders: no more piecemeal debt talks

Argentina's government ruled out further piecemeal debt talks with a small group of U.S. hedge funds (holdouts) and said the country needed to strike a deal with all bondholders including those which have rejected past restructuring agreements as a single group.