Stories for November 23rd 2016

Wednesday, November 23rd 2016 - 17:06 UTC
Post-election rally pushes Wall Street to new records: Dow Jones above 19.000

United States stocks extended their post-U.S. election rally Tuesday with moderate gains that pushed the Dow above 19,000 for the first time and the three major indexes to record closing levels for a second straight day. The S&P 500 ended above 2,200, led by gains in telecommunications, up 2.1%, and consumer discretionary up 1.2%. The small-cap Russell 2000 index also set another record-high close.
Wednesday, November 23rd 2016 - 16:54 UTC
Maduro warns Mercosur: “... take us out the door, we go back in through the window”

Venezuelan President Nicolás Maduro said Tuesday that no one will be able to remove his country from the Southern Common Market (Mercosur), although the bloc's founders are considering a suspension for failure to fulfill commitments as an “Associate State.”
Wednesday, November 23rd 2016 - 16:39 UTC
Argentina and UK to work jointly in scientific research and exchange of experts

Argentina and the United Kingdom will sign this Wednesday an accord by which the two countries scientific societies will be working jointly in research projects and promoting an active exchange of scientists, as part of the recent joint statement signed last September, revealed Science and Technology minister José Lino Barañao currently in London.
Wednesday, November 23rd 2016 - 16:09 UTC
Economic crisis hits airline industry in Brazil, Venezuela. Low-cost carrier wants start operating in Argentina

Etihad join list of Asian airlines that continue to drop their routes to South America's biggest market. New low-cost service aims at passengers who do not travel by plane today in Argentina and Venezuelan companies in dire straits to stay operational.
Wednesday, November 23rd 2016 - 15:56 UTC
Anses sells off all its Petrobras Argentina shares worth US$ 156 million

As a part of the Pampa Energía takeover bid strategy, the Pensions Bureau guarantee fund had to sell its 11.85 % stake. It also holds 18% of Pampa's shares and saw no point in increasing that to 23% when prospects of a merger are on the radar. “If we didn't sell, they would have merged us with Pampa anyway,” a top Anses official said.
Wednesday, November 23rd 2016 - 15:35 UTC
TPP without the US would be “meaningless” says Japanese PM Shinzo Abe

The Trans-Pacific Partnership (TPP) trade deal would be “meaningless” without US participation, Japanese prime minister Shinzo Abe said as United States President-elect Donald Trump announced he planned to quit the pact. PM Abe’s comment on Monday (Tuesday morning) came shortly before the Mr Trump released a short video about his plans for his administration, including an intention to have the US drop out of the TPP pact.
Wednesday, November 23rd 2016 - 15:31 UTC
Buckingham Palace to undergo US$ 455m renovation: not all taxpayers pleased to pay the bill

Buckingham Palace will undergo a ten-year US$ 455 million renovation process set to begin in April and needed to prevent potentially catastrophic building failure. It will replace decades-old wiring, radiators and lead pipes that currently put the 775-room palace at risk for fire, flood and other dangers. Her Majesty Queen Elizabeth, who turned 90 in April, will stay in residence during the makeover.
Wednesday, November 23rd 2016 - 15:16 UTC
Argentina's tax amnesty program “rescues” US$ 21.9bn including US$ 7.2bn in cash

Argentines have so far declared US$21.9 billion in previously hidden assets in the country's tax amnesty program meant to help jump-start the economy, Alberto Abad, director of the AFIP tax collection agency, said on Tuesday. That included US$7.2 billion in cash deposits, Abad said.
Wednesday, November 23rd 2016 - 15:07 UTC
Prosecution warns Congress planning to shut down Petrobras investigation: “the corrupt have a lot of power”

The top prosecutor in Brazil's biggest ever corruption investigation has called on the public to rally around the operation in the face of attempts to shut it down. There are fears that Congress while passing anti corruption measures would also include in an unofficial amnesty for existing cases.
Wednesday, November 23rd 2016 - 15:03 UTC
Petrobras case connections in Geneva targeted by Swiss prosecution

The Office of the Attorney General of Switzerland has opened criminal proceedings against a former senior executive at the Geneva-based commodity trader Trafigura. The case is reportedly linked to corruption involving the Brazilian state-run oil company Petrobras.