Stories for 2016

Saturday, November 19th 2016 - 21:29 UTC
Texas holds the largest oil and gas deposit ever discovered in United States

The U.S. Geological Survey says it has found the largest continuous oil and gas deposit ever discovered in the United States. A swath of West Texas known as the Wolfcamp shale contains 20 billion barrels of oil and 16 trillion cubic feet of natural gas which makes it nearly three times more petroleum than the agency found in North Dakota's Bakken shale in 2013.
Saturday, November 19th 2016 - 20:27 UTC
Robots and “reshoring” threaten millions of jobs in developing countries

The increased use of robots threatens millions of jobs in developing countries, by undermining the advantage of low wages and facilitating the “reshoring” of industries back to industrialized countries, according to a new policy brief from UNCTAD.
Saturday, November 19th 2016 - 18:39 UTC
Buenos Aires admits poor cruise season because of past mistakes

Buenos Aires cruise season has taken off but it will be far from its peak in 2012/13 when over half a million visitors reached the Argentine capital. This season will only see 81 calls with 323.000 visitors of which 70% foreigners, according to local port authorities.
Saturday, November 19th 2016 - 12:02 UTC
European scientists in Antarctica trying to locate the oldest ice on Earth

A team of European scientists heads to East Antarctica this month to locate the oldest ice on Earth. The team is part of an EU-funded research consortium from ten European countries whose aim is to search for a suitable site to drill an ice core to capture 1.5 million years of Earth’s climate history.
Saturday, November 19th 2016 - 11:57 UTC
Trump avoids 'presidential' embarrassment with out of court US$ 25m settlement

United States President elect Donald Trump has reversed course and agreed on Friday to pay US$25 million to settle a series of lawsuits stemming from his defunct for-profit education venture, Trump University, finally putting to rest fraud allegations by former students, which have dogged him for years and hampered his presidential campaign.
Saturday, November 19th 2016 - 11:20 UTC
Cristina Fernandez' petition for an immediate oral trial rejected

Argentine federal judge Claudio Bonadío rejected as “inappropriate” and described as “impertinent, untimely and out of style” the petition from ex president Cristina Fernandez for an immediate oral trial in the dollar futures case, emerging from an investigation into the last months of her administration.
Saturday, November 19th 2016 - 10:15 UTC
Premier Oil refinancing and extending debt repayment dates

Premier Oil has pushed back its refinancing deal to the first quarter of 2017 but said lenders had largely agreed to new terms, including extending debt repayment dates in exchange for some control over which projects the company can invest in.
Saturday, November 19th 2016 - 09:19 UTC
Bachelet makes her sixth cabinet reshuffle confirming the ruling coalition keeps losing ground

Chile's President Michelle Bachelet launched her sixth cabinet reshuffle in less than three years in a bid to strengthen her government ahead of a general election next year. The 65-year-old leader is one of the few figures to remain in power from a wave of leftist governments in South America over recent decades.
Saturday, November 19th 2016 - 09:07 UTC
Venezuela loses Mercosur voting rights in December, announces Uruguay

Venezuela will continue as member of Mercosur but with no right to vote, since it has not fully incorporated all the group's rules and regulations as had been agreed, revealed Uruguay's foreign minister Rodolfo Nin Novoa on Friday in Montevideo.
Saturday, November 19th 2016 - 08:52 UTC
Fuel shortages feared in Uruguay due to lorry drivers' strike

The lorry drivers' strike already under way in Uruguay, which broke up as a conflict between freight carriers and the agriculture sectors, may have its impact on the distribution of car petrol, warns Mauro Borzzaconi of the trucking association.