Economy

Friday, July 4th 2014 - 07:47 UTC
Kicillof confirms meeting of Argentine delegation with mediator Pollack

Economy minister Axel Kicillof has confirmed that Argentina would enter talks with mediator 'Special Master' Daniel Pollack over the legal battle currently raging between the nation and holdout hedge funds as 'vulture funds', while clarifying that those funds would not be present.
Friday, July 4th 2014 - 07:39 UTC
Argentine car production and exports fall, impacting on trade with Brazil

Argentina's vehicle production reached 50,904 units in June according to the Automobile Factory Association (ADEFA), 19.8% less than the 63,461 units manufactured in the same month of 2013. Taking into account the first 6 months of 2014, production fell 21.8% compared to the same period of 2013.
Friday, July 4th 2014 - 06:50 UTC
Draghi pledges monetary stimuli to revive the economy and avoid deflation

European Central Bank president Mario Draghi reiterated on Thursday that he'll keep interest rates low as officials try to revive the region's economy with a new round of emergency measures.
Friday, July 4th 2014 - 06:34 UTC
US unemployment down to 6.1% and the Dow Jones at 17.000 for first time

US economy added 288,000 jobs in June, latest figures from the Bureau of Labor Statistics have shown. The unemployment rate dropped to 6.1%, its lowest level since September 2008.
Thursday, July 3rd 2014 - 06:57 UTC
US bank caught in bonds litigation requests guidance from Judge Griesa

The Bank of New York Mellon, fearful of being sued by Argentine bondholders and unwilling to defy a court order blocking their coupon payments, is seeking guidance from U.S. Judge Thomas Griesa on what to do with the money.
Thursday, July 3rd 2014 - 06:45 UTC
Argentine squid industry concerned with a significant drop in prices

A significant decline in catches of squid (Illex argentinus) in Argentine waters at the end of the season, has forced the return to port of several Argentine flagged jiggers, according to a report this week from the country's Coast Guard station in Mar del Plata.
Thursday, July 3rd 2014 - 06:40 UTC
Brazilian industry contracts for the third month running in May

Brazilian industrial output fell for the third straight month in May despite efforts from government to prop manufacturing through stimulus measures. Industrial production in Brazil fell 0.6% in May from April, and 3.2% from the same month a year ago, and 1.6% in the five months of 2014, government statistics agency IBGE said on Wednesday.
Thursday, July 3rd 2014 - 06:26 UTC
Roubini warns about negative consequences from the Argentine case

The economist famous for predicting the 2008 financial crisis has analyzed Argentina’s current dispute against vulture funds warning “holdouts must not be permitted to block orderly restructurings that benefit debtors and creditors.”
Thursday, July 3rd 2014 - 06:17 UTC
Hedge funds challenge Kicillof to meet them on Thursday in Washington

The NML Capital hedge fund is ready to meet and negotiate directly with Argentine Economy minister Axel Kicillof and is willing to do so on Thursday, according to a top-ranking executive of the hedge fund involved in a long standing litigation with the Argentine government over defaulted debt.
Wednesday, July 2nd 2014 - 23:51 UTC
Argentina loses trade restrictions case at WTO, says Brazilian financial media

The World Trade Organization has ruled that a swath of import regulations imposed by Argentina violate international trade rules, according to the Buenos Aires media quoting diplomatic sources and Brazil's financial press. The ruling favors 43 countries those two years ago claimed Argentina had imposed trade barriers.