Argentina on Monday won a battle in its ongoing struggle with hedge funds holding sovereign bonds. In this case Argentina managed the reversal of a U.S. judge's ruling that a group of bondholders suing over its defaulted debt said entitled them to $700 million.
The Falkland Islands Gross Domestic Product (GDP) dropped in 2013 primarily due to lesser oil activity according to a recent Executive Council paper that included updated figures from the FIG Economist Commenting on the paper, according to a report from the latest edition of the Penguin News.
A state of emergency has been declared by the Chilean government in the northern cities of Antofagasta and Tocopilla due to the strong winds, heavy rains, flashfloods and mudslides. President Michelle Bachelet visited the north on Monday to observe first-hand the damage caused by a storm that left six people dead nationwide.
Argentina confirmed it will be using Central Bank foreign-currency reserves to service more than US$3.5 billion dollars in international debt that matures in October. The confirmation came through an announcement in the Official Gazette, signed by President Cristina Fernández, Cabinet Chief Anibal Fernández and Economy Minister Axel Kicillof.
The Cristina Fernandez administration candidate Daniel Scioli, as anticipated, was the presidential hopeful with most votes in Argentina Sunday's open, simultaneous and mandatory primaries, (PASO), in which the different parties chose those who will lead them into the 25 October election to elect the head of the Executive, half the Lower House and a third of the Senate.
Pope Francis criticized the destruction of forests in order to plant soy in an interview with an Argentine radio station on Saturday, reinforcing his message that the environment should take precedence over financial gain.
Gibraltar’s Conservative MEP Ashley Fox is compiling a dossier of constituent complaints and experiences of crossing the border in and out of Gibraltar. Mr Fox will hand the dossier to the EU Commission and says it will show Spain is acting “as an aggressor and not a European partner”, according to a report from the Gibraltar Chronicle.
Spain has been accused of an “outrageous” and “unlawful” violation of British sovereignty after boats entered UK waters in Gibraltar on Sunday. Helicopters were also flown over a beach on the British territory as Spanish police chased criminals on the water, a move branded extremely dangerous by the Government of Gibraltar.
Scotland is to ban the growing of genetically modified crops, the country's rural affairs secretary has announced. Richard Lochhead said the Scottish government was not prepared to gamble with the future of the country's £14bn food and drink sector.
The US economy added 215,000 jobs in July, while the unemployment rate held at a seven-year-low of 5.3%. The Bureau of Labor Statistics said on Friday job gains came in retail trade, health care, professional and technical services, and financial activities.