Stories for 2014

Thursday, August 14th 2014 - 06:34 UTC
Talks between global banks and Argentine creditor hedge fund “collapsed”

Talks between a group of global banks and at least one major hedge fund about buying a portion of the fund's exposure to Argentine debt have collapsed, a person familiar with the matter told sources in Buenos Aires, amid concerns that the Argentine government has dug in to its refusal to pay certain creditors what they are owed and may not relent for months to come.
Thursday, August 14th 2014 - 06:19 UTC
Santiago's security chief fires following the record “embarrassing” robbery

Chile has fired the security chief of the country's main airport after an “embarrassing” robbery of more than 10 million dollars at the cargo terminal. Defense Minister Jorge Burgos said a probe had been launched into how eight armed men had managed to steal the money from a security van at the airport in the capital, Santiago.
Thursday, August 14th 2014 - 06:11 UTC
Argentina: US dollar reaches a new record of 13.15 Pesos in Buenos Aires 'blue' market

The US dollars climbed to a record 13.15 Pesos on the black or 'blue' market on Wednesday trading as fears mount regarding the outcome of the holdout bonds conflict with the New York court. The official dollar rate closed at 8.2750 Pesos.
Thursday, August 14th 2014 - 05:41 UTC
US Nevada court grants 'holdouts' discovery rights into assets of Kirchner family friends

The hedge fund Elliott Management secured a victory on Tuesday in its pursuit of Argentine assets abroad, as a court in the US state of Nevada granted the corporation discovery rights to 123 companies allegedly linked to the Santa Cruz public works tycoon Lazaro Baez, and believed to be closely linked to the Kirchner family.
Wednesday, August 13th 2014 - 22:29 UTC
Majority of Argentines fear consequences of the default and favor continuing negotiations

A majority of the Argentine electorate is pessimistic about the consequences of the 'selective default' on the economy, but considers that negotiations with the 'holdouts' must continue, according to a public opinion poll from Poliarquia which also showed that support for president Cristina Fernandez has fallen during the last month.
Wednesday, August 13th 2014 - 22:12 UTC
Galicia closes a third of mussel polygons because of resurgent bio-toxic red tide

The Xunta of Galicia in the northwest of Spain banned the extraction of mussels in 18 of the 55 floating nurseries of the autonomous region, that is to say, in 32% of the total capacity because of the presence of lipophilic biotoxin.
Wednesday, August 13th 2014 - 22:01 UTC
Campos' successor, Marina Silva represents a stronger challenger for Dilma

The deceased Brazilian presidential candidate Eduardo Campos, 49, was a former governor of the northeastern state of Pernambuco and belongs to a traditional family from the Brazilian political establishment.
Wednesday, August 13th 2014 - 21:58 UTC
Brazilian presidential candidate dies in air crash; three days national mourning

Brazilian presidential candidate Eduardo Campos, a contender to unseat President Dilma Rousseff in October elections, died Wednesday when his campaign jet crashed in the city of Santos, killing all seven people aboard.
Wednesday, August 13th 2014 - 09:30 UTC
Petrobras sells natural gas pipeline operations in Bolivia

Brazil's Petrobras sold its stake in a Bolivian natural gas pipeline operator, continuing a string of asset sales aimed at generating cash for development of offshore oil fields at home. The Brazilian giant said it sold its 44.5% stake in Transierra to Bolivian state-owned YPFB for 106.7 million dollars.
Wednesday, August 13th 2014 - 07:09 UTC
Brazil admits EU/Mercosur deal stalled because of European concerns about agriculture

Brazil's agricultural competitiveness is a concern to countries and trade blocks negotiating agreements with Brazil, according to ambassador Paulo Estivallet de Mesquita, head of the Economics Department of the country's Ministry of Foreign Relations (MRE).