Stories for December 2015

Sunday, December 6th 2015 - 12:23 UTC
Bank of China faces daily fine in the US unless it complies with court order

The Bank of China will face a daily fine in the US unless it complies with a court request to give details of customers accused of selling fake goods. The bank was held in contempt of court in Manhattan last week for refusing to turn over the records.
Saturday, December 5th 2015 - 08:25 UTC
Rousseff suffers setbacks in attempt to block impeachment proceedings

$Aviation Minister Eliseu Padilha, an ally of Temer and part of the fractious party that is Rousseff's main coalition partner, submitted his resignation$

Brazilian president Dilma Rousseff on Friday suffered two setbacks to her fight against impeachment, as a minister from her main coalition ally resigned and the Supreme Court quashed appeals from supporters seeking to stop the impeachment process.
Saturday, December 5th 2015 - 07:58 UTC
Argentina's presidential baton, sash, Zamba and a last minute protocol soap opera

A growing spat between Argentina's outgoing president and president elect over inauguration day logistics took a strange turn Friday, with the silversmith responsible for crafting a ceremonial baton saying an assistant was threatened by possible police action, and fears the whole transfer ceremony could turn into a shouting contest between supporters from the two groupings.
Saturday, December 5th 2015 - 07:39 UTC
London and BOTs reaffirm right to self determination and “countering hostile sovereignty claims”

The United Kingdom and British Overseas Territories have agreed to work together to counter hostile sovereignty claims and defend the right to self determination, according to a communiqué issued by the Joint Ministerial Council meeting in London which also touches upon the EU Referendum, tax and banking.
Saturday, December 5th 2015 - 07:10 UTC
A range of possible results in Venezuela's Sunday legislative election

By David Rosnick (*) A new paper from the Center for Economic and Policy Research (CEPR) finds that there may be a significant disparity between the popular vote and legislative seats claimed by parties in Venezuela’s December 6 National Assembly elections.
Saturday, December 5th 2015 - 06:50 UTC
Oil futures fall sharply after OPEC agrees to keep 'current actual production'

Oil futures fell sharply Friday, with the U.S. benchmark settling below $40 a barrel after the Organization of the Petroleum Exporting Countries agreed to keep pumping crude at current production levels despite a global glut.
Saturday, December 5th 2015 - 06:42 UTC
Positive US jobs data paves the way for the Fed to raise interest rates

US jobs growth remained solid in November as the economy added 211,000 jobs, slightly above expectations. The data, from the Bureau of Labor Statistics, also showed the jobless rate held at its seven-and-a-half year low of 5%. Construction, food services and retail sectors all saw healthy job increases.
Friday, December 4th 2015 - 07:49 UTC
Uruguay's former football chief Bauza, only Conmebol member not indicted

Of the ten presidents from South America's football confederation, Conmebol, during the period under investigation by the FBI, only two had not been indicted until Thursday: Uruguay's Sebastian Bauza and Ecuador's Luis Chriboga. However US Attorney General Loretta Lynch included Chriboga in the latest list of allegedly 16 indictments.
Friday, December 4th 2015 - 07:29 UTC
FIFA corruption: new round of arrests of South American football officials

Sixteen more top football officials were charged in a dramatic widening of the FIFA corruption scandal on Thursday, as US prosecutors vowed to leave no stone unturned in their quest to root out graft. Several senior FIFA officials from the past or present were named in a 92-count US Justice Department indictment which came after a series of dawn raids at a luxury hotel in Zurich hosting FIFA officials.
Friday, December 4th 2015 - 07:25 UTC
Dragui's fresh Euro stimulus measures don't convince markets

The European Central Bank announced on Thursday fresh stimulus measures in a bid to boost inflation and the Euro zone’s recovery but the market response reflected disappointment. Mario Dragui said the bank was extending the quantitative easing program by six months, March 2017, or beyond if necessary, but at the current rate of 60 billion Euros a month.