Stories for 2014

Friday, October 31st 2014 - 06:38 UTC
Korea's largest shipbuilder announces record losses worse to come

South Korea's Hyundai Heavy Industries Co Ltd, the world's biggest shipbuilder, slid to a record quarterly loss of 1.8 billion dollars and warned it's heading for its worst-ever year as cost overruns mount up in new business lines it developed to counter a global glut of low-margin ship orders.
Friday, October 31st 2014 - 06:28 UTC
Petrobras consortium find high-quality oil at the Libra area, off Rio do Janeiro

The Petrobras-led Libra consortium has said that the first extension well in the Libra area, known as 3-BRSA-1255-RJS (3-RJS-731), has proven the discovery of high-quality oil in the northwest portion of the structure.
Thursday, October 30th 2014 - 21:49 UTC
Fifty one countries sign 'milestone' accord against tax evasion

Fifty one nations on Wednesday signed what was hailed as a milestone in the fight against tax evasion, an agreement that commits them all to automatic exchange of tax information starting in 2017. The accord capped a two-day meeting of officials from most of the 123 nations that have joined the Global Forum, which evolved from an agreement by Germany and Britain two years ago to crack down on tax evasion and tax fraud.
Thursday, October 30th 2014 - 21:36 UTC
Argentina tells bondholders to take legal action against Judge Griesa who is 'withholding funds'

Argentine Cabinet chief Jorge Capitanich called bondholders to “take legal action against (US Judge Thomas) Griesa instead of demanding the acceleration of (Argentine) bonds,” following rumors that Owl Creek Asset Management LP is discussing the formation of a group to demand immediate repayment on bonds.
Thursday, October 30th 2014 - 21:25 UTC
Sweden becomes first EU country to recognize the State of Palestine

Sweden has recognized the State of Palestine, the country’s foreign minister has announced, making it the first European Union country to do so. The 130 other nations that already recognize a Palestinian State include Hungary, Slovakia and Poland although these three countries took this step before joining the EU.
Thursday, October 30th 2014 - 12:30 UTC
Top designer Tom Dixon launches the British Month 2014 in Chile

One of the UK’s best-known designers, Tom Dixon, presented his most recent collection – entitled ‘Club’ - at an event held this last week at the Interdesign Store in Santiago, marking the launch of the British Month 2014 in Chile.
Thursday, October 30th 2014 - 10:53 UTC
Looking to “Doing Business” in Latam, try the Pacific Alliance, forget Mercosur

The World Bank's “Doing Business” global rating is not very enthusiastic about Latin American and the Caribbean which only first surfaces in position 34 out of the 189 countries considered.
Thursday, October 30th 2014 - 10:39 UTC
In a divided vote, Brazil's central bank raised the Selic rate 25 points to 11.25%

In a surprise move and in divided vote (5 to 3), Brazil's central bank monetary board, Copom, decided to raise its benchmark Selic rate by 25 basis points to 11.25%. A majority of economists and analysts anticipated that the bank would opt to keep rates unchanged.
Thursday, October 30th 2014 - 10:33 UTC
The challenges faced by Dilma Rousseff

In a strong editorial the influential Folha de Sao Paulo argues that Brazil's reelected President Dilma Rousseff must reestablish confidence to the nation, which is divided regionally and socially, must implement a fluid dialogue with productive Brazil because the economy needs changes and new faces, and must rule for all the country, because victory was the result of millimetrical dispute in Sunday's runoff.
Thursday, October 30th 2014 - 09:16 UTC
Venezuela furious with Rajoy 'interventionism', recalls ambassador 'on consultation'

Venezuela recalled its ambassador to Spain to protest “interventionist declarations” made by Spanish Prime Minister Mariano Rajoy, the Venezuelan News Agency (AVN) said on Tuesday.