Investments

Wednesday, April 25th 2012 - 07:02 UTC
Argentina must take control of its natural resources, insists Cristina Fernandez

Argentine President Cristina Fernández vindicated her decision to expropriate YPF, assuring that her Government “remains convinced that all Argentines should be in control of the country’s natural resources.”
Wednesday, April 25th 2012 - 06:41 UTC
Fitch upgrades rating outlook to positive; warnings about Argentina and inflation

Fitch Ratings revised Uruguay's rating outlook to positive from stable on Tuesday, citing the country's ability to cut external and budget vulnerabilities. However Fitch warns about the deteriorating situation in neighbouring Argentina and inflation.
Wednesday, April 25th 2012 - 04:47 UTC
Repsol says it has invested over 20 billion dollars since taking over YPF in 1999

Spain’s energy corporation Repsol describes as ‘false’ Argentine government allegations that its affiliate YPF “had not invested sufficiently” in its hydrocarbons interests in Argentina.
Wednesday, April 25th 2012 - 02:39 UTC
Vodafone Group takes over Cable & Wireless for £ 1.04bn cash

Vodafone Group Plc agreed to acquire Cable & Wireless Worldwide Plc for 1.04 billion pounds (1.7 billion dollars) in cash, adding a UK fixed-line network to its mobile-phone system and gaining business customers.
Tuesday, April 24th 2012 - 21:52 UTC
Independent oil company plans major expansion in Chile, Argentina and Colombia

Latin American independent oil and gas explorer GeoPark Holdings Ltd is planning a major expansion of its activities in 19 licensed blocks in three countries with the purpose of significantly increasing oil and gas production in the next 18 months, according to a report released by the company.
Tuesday, April 24th 2012 - 06:38 UTC
S&P downgrades Argentina’s outlook to ‘negative’ spurred by policies enacted since October 2011

Rating Agency Standard and Poor’s (S&P) downgraded Argentina’s economic and financial outlook to “negative,” after the expropriation of YPF, which endangers the “B” rating the country has for its sovereign debt.
Tuesday, April 24th 2012 - 06:20 UTC
S&P downgrades Repsol’s rating; sees no compensation payment in near-term

Rating Agency S&P announced on Thursday it was downgrading Spain-based energy company Repsol-YPF after Argentina’s government announced the expropriation of 51% of its shares. The rating was lowered from BBB to BBB (minus), the agency said in a statement.
Tuesday, April 24th 2012 - 06:16 UTC
BMW sales in Brazil drop 30% because of tax rise; factory investment on hold

Bayerische Motoren Werke AG (BMW), the world’s largest luxury automaker, posted a 30% drop in first-quarter sales in Brazil due to a tax rise for imported cars, said Henning Dornbusch, the company’s country head.
Tuesday, April 24th 2012 - 03:57 UTC
YPF nationalization bill does not contemplate compensations, says Kirchnerite Senator

Senator from the Argentine ruling majority and former cabinet chief, Aníbal Fernández assured that the government “will pay the real price for the expropriation of YPF and not what Repsol’s chairman (Antonio Brufau) wants.”
Tuesday, April 24th 2012 - 01:51 UTC
Colombia offers to mediate in the YPF conflict between Argentina and Spain

Colombia is available to mediate between Spain and Argentina to find a solution to the dispute over the seizure of YPF from Repsol, said Colombian Vice-president Angelino Garzón.