Economy

• Friday, August 29th 2014 - 06:04 UTC

  Argentina says it won't yield to unions; controversy over success of the national strike

  

  Argentina's Labor minister Carlos Tomada said that it is not a government’s priority to discuss the modification of the income tax or re-opening wage talks, as dissident unions demanded during a general strike on Thursday which partially paralyzed Buenos Aires city since several transport unions joined the stoppage.

• Friday, August 29th 2014 - 05:56 UTC

  Argentina will only negotiate with all bondholders: no more piecemeal debt talks

  

  Argentina's government ruled out further piecemeal debt talks with a small group of U.S. hedge funds (holdouts) and said the country needed to strike a deal with all bondholders including those which have rejected past restructuring agreements as a single group.

• Thursday, August 28th 2014 - 06:11 UTC

  Dollar new record in Argentina: 14.45 Pesos; Capitanich blames 'speculative attacks'

  

  While Argentine Cabinet Chief Jorge Capitanich claimed the country was suffering “speculative attacks“ to systematically erode the ”government’s credibility and trust” the US dollar in the Buenos Aires informal market continued to climb and ended Wednesday trading 25 cents higher at 14.45 Pesos.

• Wednesday, August 27th 2014 - 21:03 UTC

  Socialist Hollande converts into orthodoxy: names former Rothschild banker in Economy

  

  French president Francois Hollande has replaced his maverick leftist economy minister with a former Rothschild partner in a reshuffle intended to reconcile his efforts to revive the stagnant French economy with deficit-cutting orthodoxy.

• Wednesday, August 27th 2014 - 07:20 UTC

  Mary Maersk sets new record: 17.603 TEU containers, but few ports can receive her

  

  A record has been set with a Triple-E vessel carrying the highest ever number of containers between Europe and Asia. Mary Maersk left Algeciras, Spain, on its eastward journey bound for Tanjung Pelepas, Malaysia with no less than 17,603 twenty-foot equivalent units (TEU), the highest number ever loaded on a vessel.

• Wednesday, August 27th 2014 - 06:33 UTC

  Argentina revokes BONY authorization to operate and act as trustee

  

  Argentina's Cabinet Chief Jorge Capitanich confirmed that the country's Office of the Superintendent of Financial and Exchange Institutions has revoked the authorization for the bank of New York Mellon to operate in Argentina.

• Wednesday, August 27th 2014 - 06:11 UTC

  Some 200 million people remain vulnerable in Latam despite lesser poverty

  

  More than 56 million people have been lifted out of poverty in Latin America and the Caribbean in recent years, according to the United Nations Development Program (UNDP). But despite the progress, it warned that some 200m people, or 37.8% of the population, remained vulnerable.

• Wednesday, August 27th 2014 - 06:07 UTC

  As confidence vanishes, US dollar in Argentina breaks new record: 14.20 Pesos

  

  Despite appeals to national unity from president Cristina Fernandez, the US dollar, Argentina's best test for confidence, climbed 22 cents to a new record in the informal market at the end of Tuesday's trading: 14.20 Pesos.

• Wednesday, August 27th 2014 - 02:51 UTC

  Chile ready to act as a 'bridge' between Mercosur and the Pacific Alliance

  

  Chile is ready to act as a 'bridge' between Mercosur and the Alliance of the Pacific so that Latin American can have a greater presence in the world state, said Chilean Deputy foreign minister Edgardo Riveros during a conference in Sao Paulo at the Lula da Silva think-tank.

• Tuesday, August 26th 2014 - 07:35 UTC

  Brazilian consumers’ confidence at its lowest in more than five years

  

  Brazil's consumer confidence deteriorated sharply in August to its lowest level in more than five years, the think tank FGV said Monday. The consumer confidence index fell to 102.3 from 106.9 in July. The score was the lowest since April 2009, when it was 99.7. In July, the index had risen strongly from April's 103.8.