International

• Wednesday, November 28th 2012 - 16:42 UTC

  EC 37bn Euro check for Spanish banks but 50% of branches must go and hair cut for bond holders

  

  The European Commission gave on Wednesday the go ahead for Spain to overhaul its stricken nationalized banks and opened the door for nearly 40 billion Euros in Euro zone aid to be disbursed, offering hope for an end to Spain's banking crisis.

• Wednesday, November 28th 2012 - 16:08 UTC

  MP questions lack of “Territory Status” for BOTs in Commonwealth future report

  

  Conservative MP Andrew Rosindell has written to the London representatives of British Overseas Territories to alert them to what he sees as a shortfall in a new report on the future of the Commonwealth.

• Wednesday, November 28th 2012 - 05:37 UTC

  Fitch downgrades Argentina’s credit rating fearing ‘probable default’

  

  Fitch Ratings agency announced on Tuesday it has downgraded Argentina's long-term foreign currency Issuer Default Rating from “B” to “CC,” with a negative outlook, as it sees a “probable default” if the country misses its payment to holdout investors.

• Tuesday, November 27th 2012 - 22:18 UTC

  Mixed bag for Noble Energy: oil in Gulf of Mexico and plugged well in the Falklands

  

  Noble Energy Inc. (NBL) unveiled a discovery in the Big Bend exploration area in the Gulf of Mexico as it also abandoned another well off the shore of the Falkland Islands that yielded a low-quality reservoir.

• Tuesday, November 27th 2012 - 21:11 UTC

  Lack of political leadership threatens the global economy warns OECD

  

  Global growth is set for a sharp slowdown next year and the Euro zone debt crisis “remains the greatest threat to the world economy at present,” the OECD warned on Tuesday. In its latest Economic Outlook the OECD also cautioned that “the risk of a new major contraction cannot be ruled out” after a global slump in 2009.

• Tuesday, November 27th 2012 - 21:02 UTC

  Argentina prepared to reopen bonds’ swap under certain conditions

  

  Economy Minister Hernan Lorenzino described the appeal presented on Monday by Argentina against the ruling of New York Judge Thomas Griesa as “very forceful”, and pointed out that if the magistrate had proposed to treat hedge funds demands under the terms of the 2010 debt-swap, the Argentine congress might then address the option.

• Tuesday, November 27th 2012 - 04:37 UTC

  Leading nations question legitimacy of Brazil’s measures to protect manufacturing

  

  The European Union, United States and Japan presented a formal complaint before the World Trade Organization questioning the legitimacy of some measures adopted by Brazil to protect domestic manufacturing, particularly in the auto industry.

• Tuesday, November 27th 2012 - 01:40 UTC

  Argentina rejects UK complaints on maritime security regarding the Falklands

  

  Argentine ambassador Alicia Castro rejected at the International Maritime Organization, IMO, British complaints on maritime security in Argentine waters and navigation obstacles for British and Falklands flagged vessels which access Argentine ports.

• Monday, November 26th 2012 - 23:18 UTC

  Spain rejects talks offer from ETA and demands dissolution without conditions

  

  Spain's government rejected an offer of talks from armed Basque separatists ETA and demanded the group dissolve itself without conditions, after ETA called for negotiations on prisoners and a weapons handover.

• Monday, November 26th 2012 - 22:11 UTC

  “Milk bath” for European Parliament as farmers protest low prices

  

  Dairy farmers sprayed thousands of litres of fresh milk at the European Parliament in Brussels on Monday in protest at what they say are excessive milk quotas and prices below the cost of production.