Economy

Thursday, February 25th 2016 - 06:16 UTC
Argentina in pre-accord with toughest hedge funds; Special Master Pollack furious

Argentina and a group of hedge funds are nearing a deal that would pay investors about 70% of what they say they are owed, as the government moves closer to re-entering the global bond markets following its 2001 default.
Wednesday, February 24th 2016 - 06:54 UTC
Despite Malvinas, “we want to accord and collaborate with the UK” to the benefit of both countries

Argentine president Mauricio Macri said he wants to reach an agreement with the UK that will enable collaboration in areas of mutual interest, despite the dispute over the Falkland/Malvinas Islands, although 'we will never drop Argentina's historic claim on the issue'.
Tuesday, February 23rd 2016 - 07:07 UTC
Falklands with “no big concentrations of Illex” this season, which is “worrying”

Early indications from scientific surveys are showing “no big concentrations of Illex,” in the Falkland Islands waters or on the high seas, “which is worrying,” said Falkland Islands Government Senior Fisheries Scientist Sasha Arkhipkin as reported by the Penguin News.
Tuesday, February 23rd 2016 - 06:56 UTC
Argentina to issue 15bn in bonds to end litigation with holdouts and return to global money markets

Argentina is planning to issue an estimated 15bn dollars in bonds, with which to pay the bondholders involved in years of litigation, and thus abandon its default situation which impedes it from having access to global money markets. The news was released by the Argentine Ministry of Finance.
Tuesday, February 23rd 2016 - 06:07 UTC
Apple and US government appeal to public opinion on the court's privacy dispute

The public dispute in the United States between the Justice Department and Apple continued Monday as the tech giant called on the government to withdraw its demand for help in unlocking a phone used by one of the shooters in December’s terrorist attacks in San Bernardino, Calif., and instead let a commission of experts discuss the issue.
Tuesday, February 23rd 2016 - 05:52 UTC
Pound suffers the London Mayor Johnson effect as he supports Brexit

The pound hit its lowest level against the dollar in almost seven years on concerns about a possible UK exit from the European Union. At one stage the pound was down as much as 2.4% at $1.4058, its lowest level since March 2009, before later recovering.
Monday, February 22nd 2016 - 09:14 UTC
Macri with The Washington Post “things are not going to change overnight.”

Argentine President Mauricio Macri spoke with The Washington Post’sOn support for Lilian Tintori, “Venezuela always cared for our human rights. So I am doing exactly what they have done in the past for us”.in his office in the Casa Rosada, Argentina’s White House, about the economy, Venezuela and alleged Iranian terrorists in Buenos Aires. Edited excerpts follow.
Monday, February 22nd 2016 - 09:03 UTC
Argentine government optimistic Congress will lift 'paddock bill' as requested by Judge Griesa

The administration of president Mauricio Macri is optimistic that Congress will lift the Padlock Law (Ley Cerrojo) clearing the way for Argentina’s long-standing dispute against so called speculative funds to be settled, Cabinet Chief Marcos Peña said.
Monday, February 22nd 2016 - 08:43 UTC
Unemployment in Brazil reaches 9% in Sept-Nov rolling quarter

Unemployment in Brazil was 9% during the September-November rolling quarter, unchanged from the August-October period, the Brazilian Institute for Geography and Statistics reported.
Monday, February 22nd 2016 - 08:35 UTC
Citibank selling consumer banking in South America's three largest economies

Citibank is planning to sell the consumer banking operations it has run for a century in Argentina, Brazil and Colombia as South America’s three biggest economies suffer a major downturn. The New York-based bank said in a statement that its decision was prompted by a desire to allocate resources where it can generate the best returns.