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Montevideo, May 1st 2024 - 12:29 UTC

Stories for July 2016

  • Friday, July 8th 2016 - 04:56 UTC

    Uruguayan government insists in transferring Mercosur presidency to Venezuela

    A release from Uruguay's foreign ministry, which was not signed by Nin Novoa, reiterates its decision to transfer the Mercosur chair to Venezuela

    Uruguay ratified on Thursday its willingness to transfer the Mercosur presidency to Venezuela despite objections from the other members, Brazil, Paraguay and Argentina. In a brief statement in its official site, the Ministry of Foreign Affairs said that Uruguay, currently holding the Mercosur pro tempore chair “reiterates its position to proceed to transfer the presidency, in abidance with what is established by the current Mercosur rules”.

  • Friday, July 8th 2016 - 04:53 UTC

    A woman will succeed PM Cameron and lead UK's exit from EU

    May promised “strong, proven leadership” to negotiate UK's EU departure and to “make UK a country that works not for a privileged few but for every one of us”.

    Two women Theresa May and Andrea Leadsom are battling to become the next leader of the British Conservative party and thus prime minister, the first time since the late Margaret Thatcher. After the second MPs ballot on Thursday, Home Secretary May finished with 199 votes, Energy Minister Mrs. Leadsom 84 and Michael Gove, the justice secretary, 46.

  • Friday, July 8th 2016 - 04:49 UTC

    Four US leading banks commit continued support for London as global financial hub

    The banks and Chancellor George Osborne said in a statement they would work to ensure London “retains its position”.

    Four of the biggest US banks have committed to helping maintain London's position as a global financial hub after the UK leaves the European Union. Since the referendum vote there have been concerns that banks would reduce their staff and offices in the country.

  • Thursday, July 7th 2016 - 07:11 UTC

    Federal Reserve extremely cautious on Brexit aftermath and US job market

    ”None of us really knows the magnitude and I doubt there will be a moment when people say Brexit is done. It will be something over time,” Tarullo said

    Federal Reserve policymakers decided in June that interest rate hikes should stay on hold until they have a handle on the consequences of Britain's vote on EU membership, according to the minutes of the Fed's June policy meeting released on Wednesday.

  • Thursday, July 7th 2016 - 06:53 UTC

    Rousseff makes impassionate defense against impeachment attempts in Congress

    “What hurts most at this moment is the injustice,” said Rousseff's statement, read out by her lawyer Eduardo Cardozo.

    Brazil's suspended president Dilma Rousseff rejected attempts to impeach her as an “injustice” in a defense filing Wednesday, as a decision on her political fate moved a step closer. The affair has rocked Brazil as it struggles with a recession and corruption scandals ahead of next month's Olympic Games in Rio de Janeiro.

  • Thursday, July 7th 2016 - 06:46 UTC

    Cristina Fernandez back in court: Judge decides inhibition on her properties

    Judge Bonadio decided an inhibition on Cristina Fernandez properties after she rejected a 15-million Peso embargo on her assets.

    Former Argentine President Cristina Fernandez on Wednesday filed a complaint against the judge who recently opened an investigation into allegations she defrauded the state as part of her government's handling of the dollar futures market. Fernandez, who governed Argentina from 2007 to 2015, filed the complaint against judge Claudio Bonadio after appearing in his court in connection with the case.

  • Thursday, July 7th 2016 - 06:43 UTC

    US trade deficit soars 10% in May; imports rise and exports fall

    The deficit is particularly pronounced with China, where the gap rose by 19.4% to US$29bn. The trade gap with the European Union also widened by 13.5%.

    United States trade deficit grew by 10% in May as exports fell while imports, particularly from China, rose according to the latest report from the Commerce Department. The deficit rose to US$41.1bn in May compared with US$37.4bn in April, while exports decreased by 0.2%, while imports grew by 1.6%.

  • Thursday, July 7th 2016 - 06:33 UTC

    Germany warns EU members about a tax-cuts race to attract Brexit business

    Schaeuble said “We have no intention to start some sort of race to the bottom”, in response to Osborne's proposal to slash corporation tax to avoid a business exodus

    German Finance Minister Wolfgang Schaeuble has said he opposes a “race to the bottom” of competitive tax cuts. He spoke after George Osborne pledged to cut UK corporation tax in response to the Brexit vote and from Paris, in an attempt to attract UK businesses, the French government promised its taxes will be the most favorable in Europe.

  • Thursday, July 7th 2016 - 06:02 UTC

    Iraq war: UK, pushed by US sent ill-prepared troops into battle with inadequate plans for the aftermath

    Sir John Chilcot - chairman of UK's Iraq War inquiry - concluded Blair had sent ill-prepared troops into battle with “wholly inadequate” plans for the aftermath.

    The United States pushed the UK into military action in Iraq “too early”, a former British ambassador to the UN has said in the wake of the Chilcot report. The long-awaited report said ex-Prime Minister Tony Blair had overstated the threat posed by Saddam Hussein - and military action was not a last resort.

  • Thursday, July 7th 2016 - 05:56 UTC

    Sub Antarctic volcano eruption ash threatens one of the world's largest penguin colonies

    Molting chinstrap penguins breed on the South Sandwich Islands. Credit: Pete Bucktrout, British Antarctic Survey

    A volcano erupting on a small island in the Sub Antarctic is depositing ash over one of the world's largest penguin colonies. Zavodovski Island is a small island in the South Sandwich archipelago and its volcano Mt Curry has been erupting since March 2016. The island is home to over one million chinstrap penguins -- the largest colony for this species in the world.