Economy

• Thursday, February 25th 2016 - 06:50 UTC

  Moody's downgrades Brazil's sovereign debt to 'junk territory'

  

  Moody's Investors Service on Wednesday joined the two other major credit rating agencies in downgrading Brazil's sovereign debt to junk territory. Moody's lowered Brazil's credit rating by two notches from Baa3 (its lowest investment-grade rating) to Ba2 and changed the country's outlook to “negative,” a move that follows similar actions by Fitch Ratings and Standard & Poor's.

• Thursday, February 25th 2016 - 06:27 UTC

  Hollande extends full support for Macri: “France is ready to back you”

  

  Argentina's President Mauricio Macri received fresh endorsement of his economic measures on Wednesday when French President Francois Hollande flew in to Buenos Aires with 30 business leaders looking for investment opportunities. The visit reflected a turnaround in Argentina's global profile since Macri took power two months ago and immediately set about mending diplomatic ties and his country's tattered credit ratings.

• 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.