Stories for August 5th 2020

Wednesday, August 5th 2020 - 08:56 UTC
Argentina reaches an agreement with majority of creditors and looks to convince the undecided

Argentina has reached an agreement with creditors to restructure around US$ 65 billion in sovereign debt, breaking a deadlock in talks that will help the country climb out of default and banish fears of a damaging and protracted legal standoff.
Wednesday, August 5th 2020 - 08:55 UTC
Argentina deal with bondholders was at 54,8 cents to the dollar; next step IMF negotiations

Argentina is battling to escape from a messy ninth sovereign default as it firefights recession, stubborn inflation, and increasingly wary investors. The country announced on Tuesday it had reached an agreement with creditors to restructure around US$ 65 billion in foreign debt, breaking a deadlock over recent weeks and setting the stage for a formal deal later this month.
Wednesday, August 5th 2020 - 08:54 UTC
Argentina planning an Antarctic Logistic Pole in Ushuaia

Planning and first budget funds for an Argentine integrated naval base and an Antarctic Logistic Pole in Ushuaia have been announced by the Argentine Executive cabinet chief Santiago Cafiero, during a presentation to the Lower House of Congress.
Wednesday, August 5th 2020 - 08:50 UTC
Leading Brazilian private bank admits difficulties with loan default

Itaú Unibanco Holding SA’s Chief Executive Candido Bracher said on Tuesday that next year he sees Brazil’s 90-day default ratio reaching higher levels than in a previous crisis.
Wednesday, August 5th 2020 - 08:38 UTC
Beirut port blast kills at least 78, injures over 4,000 and flattens huge area of the city

Lebanon is in mourning after a huge explosion in the capital Beirut killed at least 78 people and injured more than 4,000 others on Tuesday. The whole city was shaken by the blast, which began with a fire at the port which exploded into a mushroom cloud.
Wednesday, August 5th 2020 - 08:17 UTC
Ex Uber engineer sentenced to 18 months in prison for stealing Google trade secrets

A U.S. judge on Tuesday sentenced former Google engineer Anthony Levandowski to 18 months in prison for stealing a trade secret from Google related to self-driving cars months before becoming the head of Uber Technologies Inc’s (UBER.N) rival unit.
Wednesday, August 5th 2020 - 08:07 UTC
For the fifth week running Brazil central bank survey reveals increased optimism on the economy

The gloom surrounding Brazil’s economy lifted for a fifth week in a row, a central bank survey of economists showed on Monday, with the average forecast for 2020 gross domestic product now showing a decline of 5.7%.
Wednesday, August 5th 2020 - 07:54 UTC
Brazil: controversy as to when the country's labs can start making Covid-19 vaccines

Brazilian officials say they can start making COVID-19 vaccines developed by British and Chinese researchers within a year. Experts say it will take at least twice as long, leaving Brazil reliant on imports to slow the world's second-worst outbreak.
Wednesday, August 5th 2020 - 07:48 UTC
Itaipú dam generates more power to help Paraguayan barges with soybeans reach the River Plate

Just over two months after completing a special outflow to increase the level of the drought-stricken Paraná River, the world largest operational hydroelectric dam, Itaipu, located on the border of Brazil with Paraguay, will increase energy production to help sailing along the huge South American water artery.