Stories for August 30th 2014

Saturday, August 30th 2014 - 11:49 UTC
Marina pledges to restore Brazil credibility and limit spending below growth rate

Opposition presidential candidate Marina Silva said that Brazil's recession is very worrying and her government would work to restore the credibility of the country's economic policies to recover investment and growth if elected. The Brazilian economy fell into recession in the first half of the year, a heavy blow for President Dilma Rousseff's already diminishing hopes of winning re-election in October.
Saturday, August 30th 2014 - 11:06 UTC
Capital Markets accept review of sovereign default and making terms extensive to all bondholders

The International Capital Market Association (ICMA) published on Friday the revised framework that allows a majority of investors holding sovereign bonds that default to make changes to the terms, such as extending maturities or reducing the principal.
Saturday, August 30th 2014 - 11:03 UTC
Britain raises terrorism level to 'severe' in response to possible attacks

Britain raised its terrorism threat level on Friday to “severe”, the second highest level, in response to possible attacks being planned in Syria and Iraq, Home Secretary (interior minister) Theresa May said.
Saturday, August 30th 2014 - 10:53 UTC
Brazil in recession; Minister Mantega blames external factors and World Cup

Brazil has fallen into recession, further weakening President Dilma Rousseff, just weeks before voting in what will be a tough re-election battle. Brazil's national statistics institute said Friday GDP shrank 0.6% in the second quarter and revised an initially positive first quarter growth estimate down to -0.2 percent.
Saturday, August 30th 2014 - 08:24 UTC
Marina's advisors: economists graduated in Cambridge and MIT and the heir to Brazil's largest bank

Two economists with graduate studies in Cambridge and Massachusetts Institute of Technology, a lawyer considered one of the most influential members of Congress and with a PhD from Oxford, plus the heir of a banking empire, the largest in Brazil, and philanthropist, are identified as the closest aides and advisors of Marina Silva, with increasing chances of becoming Brazil's next president in October.
Saturday, August 30th 2014 - 08:01 UTC
Judge Griesa schedules new hearing; Argentina appeals to United Nations on holdout case

The US judge overseeing litigation by Argentina and creditors who did not participate in the country's past debt restructurings scheduled a hearing to assess whether Citigroup Inc (C.N) should be forced to comply with a subpoena.
Saturday, August 30th 2014 - 07:54 UTC
Chile's oil corporation plans to pad drill 55 wells for gas in Tierra del Fuego

Chile's petroleum corporation, ENAP, is planning to drill 55 non conventional new wells in Tierra del Fuego beginning September until the end of 2015, with the purpose of increasing the current production from 450.000 cubic meters per day to a million cubic meters of 'tight' gas.
Saturday, August 30th 2014 - 07:27 UTC
UK embassy in Chile hosted launching of the Oxford University Alumni Society

The British Ambassador to Chile, Fiona Clouder, hosted a reception for the launch of the Oxford University Alumni Society. The event held at the British residence in Santiago was attended by current and former Oxford students, professors as well as other professionals interested in supporting the Society.
Saturday, August 30th 2014 - 07:10 UTC
Venezuela cheap oil and fuel shipments to allies fall to a five-year low

Venezuela’s shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chávez struck to lower energy costs for friends and expand his diplomatic clout.
Saturday, August 30th 2014 - 07:07 UTC
New World Bank delegate in Argentina; 'country strategy' to be considered next month

The World Bank board of directors will be discussing sometime next month a new aid program for Argentina focused on combating poverty, but the loans approval can't be expected until next year, according to the bank's new representative in Argentina, Jesko Hentschel.