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Montevideo, October 4th 2023 - 01:23 UTC

Stories for November 7th 2014

  • Friday, November 7th 2014 - 23:08 UTC

    English court involved in Argentine bonds dispute with hedge funds

    The lawsuit involves 226m Euros interest payments on Euro-denominated Argentine bonds issued under English law. One of the litigants is George Soros

    A London court gave Argentine “holdout creditors” in New York a two-week window on Thursday to challenge declarations sought by a powerful group of investors in a dispute over interest payments worth about 226 million Euros. The payments involve Euro-denominated Argentine bonds which were issued under English law.

  • Friday, November 7th 2014 - 22:51 UTC

    Argentina targets yet another US company on alleged tax fraud

    Allegedly GE carried out illegal operations that cost Argentina an unnecessarily large number of dollar reserves and a reduced taxation income

    US corporation firm General Electric has “over-invoiced” imports in a financial maneuver designed to access additional dollars in the official foreign exchange market, claimed Argentine Cabinet Chief Jorge Capitanich. GE thus becomes the second large US company in less than a week to face accusations of financial trickery in order to obtain economic benefits.

  • Friday, November 7th 2014 - 22:44 UTC

    Despite Rousseff, extreme poverty grows for the first time in a decade

    Between 2001 and 2012 Brazil cut extreme poverty from 14% of the population to 3.5%, according to the United Nations State of Food Insecurity report

    The number of Brazilians living in extreme poverty grew for the first time in a decade, according to government figures. The Institute of Economic Research reported that the number of people in households with incomes below the poverty threshold of 30 dollars rose from 10.1 to 10.5 million people, which means a 3.7% increase.

  • Friday, November 7th 2014 - 05:11 UTC

    ECB ready to give the Euro zone further economic stimulus

    The ECB's attempt to kick some life into the sluggish Euro zone economy is to buy covered bonds and other assets for two years.

    The president of the European Central Bank (ECB), Mario Draghi, says the bank stands ready to give the Euro zone further economic stimulus “should it become necessary”. The comments boosted shares in Europe. It also prompted a fall for the euro, with analysts increasingly braced for more dramatic stimulus measures.