Economy

Friday, July 12th 2013 - 22:19 UTC
US Airways shareholders approve merger with American Airlines

US Airways shareholders voted to approve the carrier's merger with American Airlines' parent company, AMR Corp. on Friday morning. The formal part of the shareholder meeting in New York lasted about 15 minutes.
Friday, July 12th 2013 - 22:05 UTC
German courts reject petition from hedge fund holders of Argentine debt

German courts have rejected a petition from bondholders related to the Argentine debt 'default', using a similar interpretation based in the 'pari passu' clause that hedge funds pursued in New York which was accepted by Judge Thomas Griesa.
Friday, July 12th 2013 - 20:41 UTC
EU bio-diesel tariffs and China’s policy change threaten Argentina’s soy-oil industry

The export price of Argentine soy-oil has plummeted 21% so far this year, due to new European bio-diesel tariffs and China’s change of policy, putting one of the country's key industries at risk. Argentina is the world's top exporter of soy-oil, which is used to make bio-diesel.
Friday, July 12th 2013 - 19:22 UTC
Rousseff bites back to protests: highway-blocking banned and organizers will be fined

Brazilian president Dilma Rousseff reacted swiftly to the latest national stoppage saying that her government will not tolerate protests blocking highways or streets and with the Ministry of Justice will draft rules to fine those organizations responsible for such actions.
Friday, July 12th 2013 - 08:16 UTC
Mercosur will lift Paraguay’s suspension next August 15, announced Uruguay

This coming August 15, Mercosur will lift the suspension on Paraguay's participations that has held since June 29 2012, Uruguay Minister Luis Almagro announced on Thursday during a meeting of the group’s foreign ministers in Montevideo.
Friday, July 12th 2013 - 08:13 UTC
Argentina: private estimates’ June inflation reached 1.93% and 23.78% in twelve months

Argentina’s June inflation according to the ‘congressional index’ was 1.93%, and 23.78% in the last twelve months, it was announced on Thursday by the opposition members from the Lower House Freedom of Speech committee.
Friday, July 12th 2013 - 08:08 UTC
World banks lining up submissions for the nationalized 39% holding in Lloyds

Top banks are putting their submissions to the UK Treasury to run a potential £20bn sale of the nationalised part of Lloyds Bank. Banks have until Monday to make their pitch to handle the sell-off of the government's 39% holding in Lloyds, with the sale of RBS, which is 81% owned by the taxpayer, to come later.
Friday, July 12th 2013 - 08:00 UTC
US posts unexpected budget surplus in June reflecting the improving economy

US government posted an unexpectedly large budget surplus in June, a further sign of the rapid improvement in public finances that has taken the heat off Congress to find savings and raise the nation's borrowing limit.
Friday, July 12th 2013 - 07:58 UTC
World markets climb to new highs after US Fed confirms current stimulus policy

US shares closed at record levels after the Federal Reserve indicated that its efforts to boost the economy would continue for now. The Dow Jones Industrial Average closed 1.1% higher at 15,460.92 and the broader S&P 500 added 1.3% to end at a new peak of 1,675.02. Both measures surpassed previous record highs hit in late May. The Nasdaq ended at its highest close since October 2000.
Friday, July 12th 2013 - 07:50 UTC
With Guyana and Suriname all South American countries are Mercosur associates

Suriname and Guyana signed on Thursday the protocols to become associate members of Mercosur which is currently holding its mid year summit in Montevideo. This means all South American countries are now part of Mercosur.