Stories for 13th 2015

Wednesday, August 12th 2015 - 08:25 UTC
Sargassum bloom are ruining Caribbean beaches and tourism season

The picture-perfect beaches and turquoise waters that people expect on their visits to the Caribbean are increasingly being fouled by mats of decaying seaweed that attract biting sand fleas and smell like rotten eggs.
Wednesday, August 12th 2015 - 08:06 UTC
Brazil's subsalt could hold enough petroleum to supply the world five years

Brazil's Subsalt Polygon, the offshore area that has already yielded some of the world's largest recent oil finds, may hold enough undiscovered petroleum and gas to supply the world's current oil needs for more than five years, researchers said.
Wednesday, August 12th 2015 - 07:51 UTC
Wednesday’s China shockwave: Yuan devalued 1.6%; IMF support, US Treasury cautious

Chinese shares were lower on Wednesday as its central bank again devalued the yuan, following Tuesday's record cut. The People's Bank of China fixed the daily guiding rate for the currency down 1.6% to 6.3306 against the dollar.
Wednesday, August 12th 2015 - 07:30 UTC
Moody's tough on Brazil but also confident on a mid term growth rebound

Moody’s Investors Service cut Brazil’s credit rating to near-junk status on Tuesday but said the country’s coveted investment grade status is safe for now, proving some relief to investors and the government of President Dilma Rousseff.
Wednesday, August 12th 2015 - 07:21 UTC
Parlasur bench: after seven attempts first election win for Malvinas affairs desk head Filmus

Daniel Filmus, head of the Malvinas Affairs Desk in the Argentine ministry of foreign affairs can expect to become a member of Mercosur Parliament, or Parlasur, in the coming October general election, following on a repeat of the Argentine primaries' results of last Sunday.
Tuesday, August 11th 2015 - 15:46 UTC
Falkland Islands reply to Milko Schvartzman comments on fisheries

The comments by Milko Schvartzman on the Falkland’s fishery in FIS on 2 June 2015, are incorrect and uninformed in many areas. We reject the inference that the Falkland Islands Government promotes a fisheries industry based on modern-day slavery and on piracy. The Falkland Islands have a long history of responsible environmental stewardship, and we pride ourselves on protecting and safeguarding our unique environment and the natural resources therein.
Tuesday, August 11th 2015 - 08:18 UTC
China devalues the currency in support of its struggling export sector

China has moved aggressively to devalue its currency in a bid to support its struggling export sector as the economy shows further signs of weakness on the way to reporting its slowest annual pace of growth in 25 years. The People's Bank of China surprised the market on Tuesday weakening the fix on its daily reference rate for the Yuan by a record 1.9%.
Tuesday, August 11th 2015 - 08:06 UTC
Google restructures creating new parent company, Alphabet

Google has unveiled a surprise restructuring, creating a new parent company called Alphabet Inc. Under the rebranding, Google will retain its best-known businesses, such as search, apps, YouTube and Android.
Tuesday, August 11th 2015 - 07:55 UTC
Argentina wins a battle in its ongoing struggle with hedge funds

Argentina on Monday won a battle in its ongoing struggle with hedge funds holding sovereign bonds. In this case Argentina managed the reversal of a U.S. judge's ruling that a group of bondholders suing over its defaulted debt said entitled them to $700 million.
Tuesday, August 11th 2015 - 07:32 UTC
Falklands' GDP dropped in 2013 because of lesser oil and gas activity

The Falkland Islands Gross Domestic Product (GDP) dropped in 2013 primarily due to lesser oil activity according to a recent Executive Council paper that included updated figures from the FIG Economist Commenting on the paper, according to a report from the latest edition of the Penguin News.