Stories for August 2014

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.
Thursday, August 21st 2014 - 06:32 UTC
The 'blue' dollar ended trading on Wednesday at 13.55 Argentine Pesos

Following the Argentine government’s proposal to change the debt’s payment 'location' (jurisdiction) from New York to Buenos Aires, the US dollar closed on Wednesday three cents up to 8.33 pesos in banks and exchange offices of the City, while the “blue” rate added a massive 35 cents to trade at 13.55 pesos, a new record.
Thursday, August 21st 2014 - 06:26 UTC
Soccer fan Pope Francis receives San Lorenzo, South America's best team

Soccer took center stage at the Vatican Wednesday morning when members of Argentina's San Lorenzo visited their most famous fan, Pope Francis, to share the joy of winning the Copa Libertadores last week.
Wednesday, August 20th 2014 - 21:24 UTC
Red tide devastates mussel growing and canning industry in Galicia

The presence of the lipophilic toxin in the Galician estuaries, (northwest Spain) has caused the closure of almost all Galician mussel polygons and forced the closure of activities in the local canning industry. The red tide is currently blocking 90% of the rafts production, since only two polygons located in Betanzos and four in Redondela are open, reported Atlantico news.
Wednesday, August 20th 2014 - 10:06 UTC
Argentina gambling industry tycoon closes Miami casino for a year

Argentine gambling industry tycoon Cristobal Lopez and who has been targeted by Paul Singer from Elliott Management in his hunt for assets connected to Argentine leaders, has closed for 'a year' a casino he owns in Florida and which he only opened last February.
Wednesday, August 20th 2014 - 10:00 UTC
Citi tells Griesa its banking license in Argentina is at risk because of the 'holdouts case'

Citigroup has told the US appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff.
Wednesday, August 20th 2014 - 09:50 UTC
Dilma admits many problems plague Brazil but refuses to talk about corruption in her party

Brazilian President Dilma Rousseff acknowledged “many problems and challenges” still plague the country's woeful heath system but defended her record on the economy and education on a live 15-minute interview on the Globo television network's nightly news.
Wednesday, August 20th 2014 - 09:43 UTC
Chile's economy cooling faster than expected: weakest pace since 2009

Chile's GDP grew at its weakest pace since 2009 in the second quarter as investment waned and a previously rapid expansion in consumer spending slowed, central bank data showed. The economy grew 1.9% in the second quarter compared with a year ago, or a seasonally adjusted 0.2% compared with the first quarter.