Politics

Friday, March 13th 2015 - 11:28 UTC
Brazil central bank admits interest policy has not been effective in fighting inflation

Brazil's Central Bank appears likely to continue raising interest rates in the short-term, saying in its most recent meeting that its inflation-fighting effort in recent months has been insufficiently effective. The view was reflected in the minutes, published on Thursday, of its monetary policy committee's March 4 meeting, when the bank raised its benchmark Selic interest rate by 50 basis points to 12.75%.
Friday, March 13th 2015 - 11:18 UTC
Griesa blocks Citigroup from paying interest on Argentine bonds; group will appeal

A United States federal judge on Thursday said Citigroup Inc cannot process interest payments by Argentina on some bonds issued under that country's law. U.S. District Judge Thomas Griesa in Manhattan said letting Citigroup process the payments on so-called dollar-denominated exchange bonds would violate a requirement that Argentina treat bondholders equally.
Friday, March 13th 2015 - 11:02 UTC
Argentine Judge elected by peers head of the International Criminal Court

An Argentine has been elected by her peers to lead the International Criminal Court (ICC) in The Hague. Judges of the ICC, sitting in a plenary session, elected Silvia Fernandez de Gurmendi as president of the court for a three-year term with immediate effect, the organization said in a news release.
Friday, March 13th 2015 - 10:51 UTC
New York Times warns Obama's strategy towards Venezuela could be failing

In an editorial piece, “A failing relationship with Venezuela”, The New York Times expressed doubts about the latest measures imposed by the Obama administration on seven top officials from the Venezuelan government and goes even further questioning whether they will not end actually reinforcing President Nicolas Maduro position.
Thursday, March 12th 2015 - 09:20 UTC
HMS Dragon calls at Cape Town's naval base for mid-deployment break

There is a permanent reminder of the Royal Navy's HMS Dragon’s first visit to South Africa as the destroyer upheld a 90-year-old tradition. A large painting of the ship’s badge, featuring her namesake mythical beast, adorns the wall of the cavernous dry dock where the Portsmouth-based warship spent her mid-deployment break, receiving some TLC after a four-month battering from the Pacific and Atlantic.
Thursday, March 12th 2015 - 01:11 UTC
Bank of England contrary to further cut interest rates to combat low inflation

Bank of England governor Mark Carney said it would be “extremely foolish” for the Bank of England to cut interest rates to try to combat low inflation. He reiterated comments made in February that the drop in prices was temporary and largely caused by the sharp fall in oil prices.
Thursday, March 12th 2015 - 00:53 UTC
HSBC top officers insist on staying; blame lower staff and the media and accept MPs criticisms

HSBC executives have been accused by MPs of incompetence for saying they were unaware of tax evasion activities in their Swiss private bank. However Chris Meares, the ex-head of HSBC's private banking division, said he didn't know what staff “were up to”.
Thursday, March 12th 2015 - 00:12 UTC
Greece demands reparations from Germany for Nazi occupation crimes, loan and destruction

The Greek government has threatened to seize German property as compensation for a Nazi atrocity in World War Two. Justice Minister Nikos Paraskevopoulos said he was ready to approve a Supreme Court ruling from 2000 backing payment to relatives of the 218 victims.
Wednesday, March 11th 2015 - 23:42 UTC
Online petition for reinstatement of Top Gear's Clarkson close to half a million signatures

Jeremy Clarkson made light of his suspension by the BBC on Wednesday as an online petition for him to be reinstated topped 500,000 signatures. The Top Gear presenter told reporters he was “just off to the job centre” as he left his home in London on Wednesday. Asked if he had any regrets about what had happened, he replied “yes”.
Wednesday, March 11th 2015 - 06:54 UTC
Unasur to hold a presidential summit on the Venezuela/US confrontation

Unasur (Union of South American Nations) presidents will meet next week to respond to the “grotesque and illegal” meddling of the United States in Venezuelan affairs announced Ecuadorean president Rafael Correa.