Stories for August 2015

Tuesday, August 4th 2015 - 05:35 UTC
Puerto Rico declared on default by Moody's after failing to make debt full payment

Puerto Rico's Government Development Bank announced Monday that it was only able to make a partial payment on its Public Finance Corporation (PFC) debt service due over the weekend. In response to the non-payment of the full service, credit rating agency Moody's said it viewed the situation as a default.
Tuesday, August 4th 2015 - 05:27 UTC
Catalonia challenges Madrid: calls elections for September, ahead of Spain's national ballot in November

The leader of Spain's wealthy Catalonia region President signed a decree on Monday calling parliamentary elections for 27 September, a year earlier than necessary and according to political analysts, a proxy vote on the much debated controversial independence.
Tuesday, August 4th 2015 - 05:18 UTC
Oil glut and China's poor manufacturing data reflected in global markets

United States stocks fell on Monday as oil prices touched a six-month low and factory data from China raised concerns about the world's second-biggest economy. Energy stocks were the biggest losers among the main S&P sectors, recording their worst three-day decline in seven months. Exxon Mobil and Chevron, which also reported poor results on Friday, led the losses.
Tuesday, August 4th 2015 - 05:13 UTC
Libor rate rigging: ex trader sentenced to 14 years in jail by London court

Ex-trader Tom Hayes was sentenced to 14 years in jail by a London court on Monday after being found guilty of conspiring to rig Libor benchmark interest rates following a seven-year global investigation.
Tuesday, August 4th 2015 - 05:02 UTC
Lula da Silva's 'fund-raiser' Dirceu again involved: this time with Petrobras

Brazilian police on Monday arrested former government minister Jose Dirceu, one of the most senior members of the ruling Workers' Party to be detained so far in a corruption scandal engulfing state-run oil company Petrobras.
Monday, August 3rd 2015 - 14:04 UTC
Two new 180.000GT vessels for Costa Cruises powered by liquefied natural gas

Carnival Corporation & plc announced that its Italian brand, Costa Cruises, has placed orders for two new cruise ships powered by liquefied natural gas as part of an agreement with Meyer Werft to build four next-generation cruise ships with the largest guest capacity in the world.
Monday, August 3rd 2015 - 13:44 UTC
China's factory activity shrinks the most in two years

Factory activity in the world's second largest economy, China, shrank the most in two years in July as new orders fell more than expected. The private Caixin/Markit manufacturing purchasing managers' index (PMI) dropped to 47.8 in July from 49.4 in the previous month.
Monday, August 3rd 2015 - 09:40 UTC
Brazilian currency at its weakest against the US dollar since March 2003

The Brazilian currency Real lost 1% at the end of trading on Friday and begins this week at 3.42 Reais to the US dollar, the lowest in twelve years, because of the political and economic uncertainties surrounding Latin America's largest economy.
Monday, August 3rd 2015 - 09:29 UTC
Argentine farmers at Palermo show opening: “please don't vote for 'populist adventures'”

Argentine farmers have taken sides decisively ahead of events leading to the presidential election in October and the primaries next weekend. At the opening of the country's major Palermo agriculture show in Buenos Aires, the head of the Argentine Rural Society Luis Etchevehere called on his fellow citizens to avoid supporting “democratically elected leaders but intoxicated with authoritarianism” and “populist adventures”.
Monday, August 3rd 2015 - 09:05 UTC
“You can't understand Pope Francis without Juan Peron and Evita Peron” says the Washington Post

Pope Francis will be visiting the United States next September, where he will address the United States congress, the United Nations General Assembly and attend the Family Congress to be held in Philadelphia.