Stories for August 2014

Tuesday, August 26th 2014 - 06:42 UTC
Soros group and others file lawsuit against BONY over payments in Euros

A group of hedge funds, including George Soros’s Quantum Partners and J. Kyle Bass’s Hayman Capital, is seeking a 226 million Euro interest payment on Argentine bonds from Bank of New York Mellon, BONY, that was blocked by a United States judge last month.
Tuesday, August 26th 2014 - 06:35 UTC
Argentina will appeal WTO ruling against the use of import restrictions

Argentina will appeal a World Trade Organization ruling against its use of import restrictions, according to a senior Argentine official. On Friday a WTO dispute panel found against Argentina in a 2012 case brought by the United States, the European Union and Japan relating to Buenos Aires licensing rules used to restrict imports.
Tuesday, August 26th 2014 - 01:47 UTC
French government and opposition in disarray; Euro austerity biting

French President Francois Hollande asked his prime minister on Sunday to form a new government, looking to impose his will on the cabinet after rebel leftist ministers had called for an economic policy U-turn. The surprise move came the day after outspoken Economy Minister Arnaud Montebourg had condemned what he called fiscal “austerity” and attacked Euro zone powerhouse Germany's “obsession” with budgetary rigor.
Saturday, August 23rd 2014 - 07:28 UTC
Argentina: “Cristina, share your fortune with the many impoverished in recent years”

A former cabinet minister of ex-president Nestor Kirchner said he wished that the current head of state, Cristina Fernandez would donate part of her considerable fortune so as to help all those people that have suffered impoverishment in recent years.
Saturday, August 23rd 2014 - 07:21 UTC
“Significant drop” in cruise calls in Uruguay this coming season

A significant drop in the number of calls and visitors is forecasted for this coming 2014/15 cruise season in Uruguay, according to tourism officials. While in the last season Uruguay received 238 cruise calls, beginning November the number is expected to drop to 187, this apparently because of the very high costs in the ports of Buenos Aires and Brazilian terminals.
Saturday, August 23rd 2014 - 07:14 UTC
Despite overall slowing down in Chile, Magallanes region continues to grow

Although overall Chile is undergoing a period of economic deceleration, which the government is trying to address with lower rates and full execution of public works investments, the Magallanes region in the extreme south of the country was among those with the best performance in the second quarter having expanded a healthy 2.8%.
Saturday, August 23rd 2014 - 07:02 UTC
Bank of England minutes show some members voted to raise interest rates

Two members of the Bank of England's Monetary Policy Committee (MPC) voted to raise interest rates in August, the first time in three years that policymakers have done so. The minutes of the meeting on 6-7 August show Ian McCafferty and Martin Weale voted for a 0.25% rise to 0.75%. It means the nine-member MPC voted 7-2 to hold interest rates at their historic low of 0.5%.
Saturday, August 23rd 2014 - 06:50 UTC
Brazil approves port infrastructure works for 1.73bn in Rio and Santos

Brazil's National Port Authority and Waterways has approved 1.73bn dollars in port infrastructure works to be carried out by three local operators: steelmaker CSN, container terminal operator Santos Brazil and US food and agribusiness firm Archer Daniels Midland Company (ADM).
Saturday, August 23rd 2014 - 06:46 UTC
Chilean Peso depreciation expected to continue in coming months

The US dollar climbed to 584 Chilean Pesos at the end of trading in the Santiago money market, signaling a slow but steady increase for several months now and with prospects of continuing according to analysts. A greenback at 600 Pesos is not far away according to market analysts.
Saturday, August 23rd 2014 - 06:23 UTC
HMS Iron Duke visits Namibia; next calls South Africa and Falklands

HMS Iron Duke on Atlantic Patrol Tasking South, which includes the Falklands and South Georgia Islands, has visited the Namibian port of Walvis Bay where she has built on relations with the country’s Navy and its people.