Economy

Wednesday, July 30th 2014 - 08:02 UTC
Argentine private banks prepared to buy holdouts' credit; Kicillof/Pollack talks to continue today

“Special Master” Daniel Pollack, the mediator appointed by US judge Griesa to resolve the dispute between Argentina and the speculative funds' holdouts said the parts talked “face to face” for the first time and assured a new meeting will be confirmed during the day. If a deal is not reached Wednesday sunset Argentina could again fall into default.
Wednesday, July 30th 2014 - 08:01 UTC
Japan's PM Abe at CARICOM summit pledges development support

Heads of Government of the fourteen Caribbean Community (CARICOM) “were heartened” by their Japanese counterpart’s Shinzo Abe positive response to a number of issues raised during their one-day summit in Guyana.
Wednesday, July 30th 2014 - 07:45 UTC
UK and US fine Lloyds group £218m for manipulating the Libor rate

Lloyds Banking Group has been fined £218m for “serious misconduct” over some key interest rates set in London. The group manipulated the London interbank offered rate (Libor) for yen and sterling and tried to rig the rate for yen, sterling and the US dollar, said the US legal order.
Wednesday, July 30th 2014 - 07:23 UTC
IMF warning on interest rates and Russian crisis for some EU banks

Sharply higher interest rates around the world could combine with weaker growth in emerging markets to slice as much as two percentage points off global growth in the next five years, the International Monetary Fund said on Tuesday.
Wednesday, July 30th 2014 - 07:10 UTC
Cristina Fernandez thanks Mercosur support and again attacked Judge Griesa

President Cristina Fernández addressed fellow heads of state at the Mercosur summit in Caracas, where she thanked members of the bloc for their support over the ongoing fight with holdout investors in the New York courts and underlined that Argentina “has paid debt obligations religiously”.
Tuesday, July 29th 2014 - 06:59 UTC
Pollack confirms meeting with Argentina on Tuesday, 24 hours before 'D' day

Argentina will sent a negotiation team to New York on Monday for further talks with a US court-appointed mediator Daniel Pollack in its debt dispute with “holdout” investors, Cabinet Chief Jorge Capitanich said earlier, with just two days left to avert a default.
Tuesday, July 29th 2014 - 06:39 UTC
Falkland Islands Holdings announces expanded Share Incentive Plan for its staff

The Falkland Islands Company has announced the expansion of its tax efficient share plan (Share Incentive Plan or SIP) which is open to all its 180 full time employees. The company believes in share ownership by staff and the public company status of its parent company, Falkland Islands Holdings plc (FIH), allows local staff to benefit from this in a meaningful way.
Tuesday, July 29th 2014 - 06:19 UTC
IATA claims from Venezuela the 4.1 billion dollars owed to airlines

The International Air Transport Association (IATA) called on the Venezuelan government to honor the commitment it made in March to permit airlines to repatriate in full and at fair exchange rates airline funds being blocked in the country.
Tuesday, July 29th 2014 - 05:43 UTC
Some Euro-bond holders willing to waive the RUFO clause, says Bloomberg News

A group of creditors holding about 28% of Argentina's Euro-denominated debt said it would be willing to waive a clause that’s hampering a deal between Argentina and holders of its defaulted bonds from 2001, according to a report by Katia Porzecansky published by Bloomberg News.
Tuesday, July 29th 2014 - 05:35 UTC
“ Argentina Dances With Default”, warns The Wall Street Journal

As Argentina approached the deadline for another default, second in twelve years, the governments of President Cristina Fernandez is trashing a U.S. judge rather than repay creditors, underlines an editorial column from The Wall Street Journal.