The court-appointed mediator in the bonds dispute says Argentina has reached a settlement with bondholders seeking about 1% of the US$10 billion being pursued by investors. Mediator Daniel Pollack announced on Tuesday in New York the deal in the class action case. The deal came nearly two weeks after he announced two of six leading bondholders settled claims for more than US$1 billion.
Four of the world's biggest oil-producing nations moved to freeze their production on Tuesday to try to halt the 70 percent drop in the price of crude because of a glut of oil on world markets. The agreement was reached by the oil ministers of Russia and three members of the Organization of the Petroleum Exporting Countries, Saudi Arabia, Venezuela and Qatar, during a closed-door meeting in Doha, the Qatar capital.
Michael Fallon, the British Defence Secretary, has become the first Defence Secretary to visit the Falkland Islands in 14 years. The House of Commons is currently in recess this week and the Defence Secretary’s visit directly follows the visit of four other British MPs to the Falklands.