Stories for September 3rd 2014

Wednesday, September 3rd 2014 - 23:00 UTC
EC fines Philips, Samsung and Infineon for 'collusion' in price-chips for smart phones

Philips, Samsung and Infineon have been fined 138m Euros by the European Commission (EC) for fixing prices of chips in used in smart-phones. The electronics giants “colluded” on pricing, contracts and capacity between 2003 and 2005, the EC said.
Wednesday, September 3rd 2014 - 22:17 UTC
China expanding its investments in Argentina's South Atlantic fisheries

China is interested in investing in Argentine port infrastructure and in setting up companies with access to the South Atlantic fisheries, according to reports from Shanghai where an Argentine top level delegation is currently negotiating in the framework of the China-Argentina cooperation agreement.
Wednesday, September 3rd 2014 - 22:05 UTC
Soros signals Argentina’s shale is biggest place to be

One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize —and a big boost for both super-majors and smaller players making big waves in the heart of new discovery areas.
Wednesday, September 3rd 2014 - 09:00 UTC
Argentine presidential election 25 October 2015, and run-off 24 November

Argentina's National Electoral Register has confirmed that the first round of presidential elections will take place on October 25 2015, with a run-off penciled in for November 24 if no candidate takes enough votes to win outright.
Wednesday, September 3rd 2014 - 06:37 UTC
Kicillof in China to confirm loans and a much needed swap dollars

Credit strapped Argentina is wooing Beijing and with this purpose Economy Minister Axel Kicillof, Planning Minister Julio De Vido and YPF oil company CEO Miguel Galuccio are currently on an official trip to China, aimed at gathering funding for public works including two dams and one nuclear power plant.
Wednesday, September 3rd 2014 - 06:29 UTC
“Our Chavez who art in heaven, the earth, the sea and we delegates,”, “hallowed be your name”

Members of Venezuela's Socialist Party have rolled out a variation of the classic Christian “Lord's Prayer” to implore beloved late leader Hugo Chavez for protection from the evils of capitalism.
“Our Chavez who art in heaven, the earth, the sea and we delegates,” red-shirted delegate Maria Estrella Uribe recited at the PSUV party Congress.
Wednesday, September 3rd 2014 - 06:08 UTC
Falklands' lawmaker highlights in Central America the Islands' political and economic stability

Falkland Islands elected lawmaker Dr. Barry Elsby, concluded a two day visit to Guatemala, aimed at defending the Islanders right of self-determination, and highlighting the economic opportunities in the Islands. Member of the Legislative Assembly Dr. Elsby is in the penultimate destination of his tour, a week ago and which also included Chile, Colombia, Panama and the last stop El Salvador.
Wednesday, September 3rd 2014 - 05:55 UTC
Australia scraps contested mining tax; major win for Abbot's conservatives

Australia on Tuesday agreed to scrap a contested resources profits tax after the government struck a surprise deal with crossbench senators, including mining tycoon Clive Palmer. The Minerals Resource Rent Tax (MRRT) was introduced by the previous Labor administration in 2012, with a levy on annual profits above 70 million dollars on iron ore and coal at a rate of 30%.
Wednesday, September 3rd 2014 - 05:50 UTC
Barclays moves out of Spain; sells operations to CaixaBank for 800 million Euros

Spain’s third-biggest lender, CaixaBank SA agreed to buy Barclays Plc banking operations in the country for about 800 million Euros (1.1 billion) in cash to expand its business as economic growth picks up. The sale includes consumer, wealth and investment management and corporate banking businesses, Barcelona-based CaixaBank said in a statement.
Wednesday, September 3rd 2014 - 05:36 UTC
Spain's unemployment remains stubbornly high: 4.5 million in August

A total of 8,070 people joined Spain's jobless queues in August, the first rise in unemployment after six months of improvement, official figures released on Tuesday show. The rise means there were 4,427,930 Spaniards registered as looking for work at the country's unemployment offices at the end of August, Spain's employment ministry figures show.