Economy

Friday, September 19th 2014 - 06:11 UTC
Bad omen for Argentina and Citibank in their appeal over bond payments

U.S. appeals court signaled its displeasure with Argentina on Thursday as Citigroup warned it faces “serious and imminent hazard” if it follows a judge's order not to process an upcoming interest payment due to bondholders. The hearing ended with not resolution but a pledge to decide on the matter 48 hours before the end of the month.
Thursday, September 18th 2014 - 06:25 UTC
Developing oil field Libra off Brazil will cost 80bn dollars said France's Total

Brazil's biggest oil field, Libra, will cost 80 billion dollars to develop, according to a senior executive with France's Total, one of five consortium members participating in the project. Total's vice president of exploration and production for the Americas, Ladislas Paszkiewicz, made the estimate at the Rio Oil & Gas conference, which began Monday and runs through Thursday.
Thursday, September 18th 2014 - 06:13 UTC
Brazil's Embraer sells 50 E-175 jets, 70/134 pax segment, to Republic Airways

Brazilian aircraft manufacturer Embraer said on Wednesday it has reached an agreement to sell 50 E175 jets to U.S. regional operator Republic Airways Holdings for 2.1 billion dollars.s6u
Thursday, September 18th 2014 - 05:46 UTC
US dollar at new record in Argentina; Kicillof blames 'holdouts' and the US embassy

The informal rate of the US dollar hit a new historic peek on Wednesday in Argentina, breaking the 15 pesos barrier and closing at 15.10 pesos, pushed by rate speculation, and following yesterday’s sharp 25-cents climb. Economy minister Axel Kicillof blamed the 'holdouts' and the US embassy for the latest surge.
Thursday, September 18th 2014 - 05:30 UTC
Fed evasive about when it will begin to raise interest rates, “considerable time”

The US Federal Reserve has reiterated that it will raise interest rates once a “considerable time” has passed after its stimulus program ends in October. The announcement came at the end of a two-day meeting of the central bank's policy committee in Washington DC.
Thursday, September 18th 2014 - 05:14 UTC
Philip Morris determined to make its legal battle over cigarette labeling with Uruguay, a lesson for other countries

Whether you’re a Marlboro man or a Benson & Hedges smoker, if you pick up a pack in the South American nation you will be greeted by an image of decaying teeth, premature babies, horrific hospital scenes or some other terrifying scenario.
Thursday, September 18th 2014 - 03:08 UTC
The Scottish referendum

By Gwynne Dyer - If the Scots vote “yes” to independence on Sept. 18, as one opinion poll now suggests they will, three things are likely to happen in the following week.
Wednesday, September 17th 2014 - 05:20 UTC
US dollar reaches new record in Argentina; the 'Dolar Demichelis' forecasted

The US dollar in the informal market reached a new record high against the Argentine Peso at the end of trading on Tuesday. Earlier in the day the Central bank reported the biggest one-day drop in its international reserves since July 30.
Wednesday, September 17th 2014 - 04:20 UTC
Mantega announces yet another stimulus package for Brazil's economy

Finance Minister Guido Mantega presented on Monday a package of tax measures aimed at stimulating Brazil's economy less than a month ahead of the presidential election.
Wednesday, September 17th 2014 - 01:11 UTC
Argentina warns US acting ambassador on 'default' statements and 'deplores lack of support'

United States interim ambassador to Argentina Kevin Sullivan was summoned to foreign minister Hector Timerman's office and was informed of ”the profound and firm rejection of the Argentine government to the US diplomat’s inappropriate statements”, according to the statement from the ministry made public on Tuesday.