Politics

Saturday, August 2nd 2014 - 09:18 UTC
“Debt restructuring” and the Argentine case by Joseph Stiglitz

The following piece published in The New York Times was written by Joseph E. Stiglitz, winner of the Nobel Prize in Economics and a former chief economist of the World Bank, and currently a professor at Columbia University.
Saturday, August 2nd 2014 - 09:08 UTC
IDSA decides that Argentina “failed to pay” and thus declares it has defaulted

The International Swaps and Derivatives Association (ISDA) on Friday declared Argentina in default, which could trigger payments worth up to one billion dollars on credit default swaps.
Saturday, August 2nd 2014 - 08:58 UTC
Argentina suggests Griesa and Pollack are actively helping holdouts by declaring a 'default'

The Argentine Economy Ministry claimed on Friday New York judge Thomas Griesa has benefited “vulture funds” during negotiations over Argentina's defaulted debt with holdouts and asked the (Argentine) National Values Commission (CNV) to start an investigation over alleged “speculative moves”.
Saturday, August 2nd 2014 - 08:46 UTC
Brazilian media call Cristina Fernandez, “inept, arrogant and incompetent”

The leading Brazilian newspapers blasted Argentine president Cristina Fernandez as the sole responsible for the 'default event' which followed the failure of negotiations with holdouts in New York. This despite the fact Brazilian economy minister Guido Mantega denied Argentina was in default and strongly supported the Argentine government.
Saturday, August 2nd 2014 - 08:32 UTC
US economy creates 209.000 jobs in July but unemployment edges up to 6.2%

The U.S. economy added 209,000 jobs in July, the Labor Department reported on Friday. However the unemployment rate edged up to 6.2% from 6.1%, somehow confirming the Federal Reserve concern about still weak employment.
Saturday, August 2nd 2014 - 08:29 UTC
Brazil's ruling party expels representative for alleged ties with organized crime

Brazil's ruling Workers Party in Sao Pablo decided to expel representative Luiz Moura following his alleged ties to organized crime exposed by a police investigation. Criminal gangs in Brazil are powerful and are known to have connections with the political system.
Saturday, August 2nd 2014 - 08:18 UTC
Rousseff defends industrial policy and economy performance before the sector's lobby

Brazilian President Dilma Rousseff, who hopes to be re-elected for a second term in October’s elections, has defended her government’s industrial policy in front of the sector’s business leaders, the National Confederation of Industry (CNI).
Saturday, August 2nd 2014 - 08:06 UTC
US Senate looks into passenger protection on Caribbean cruise ships

There could have been few places where the old adage “worse things happen at sea” seemed more appropriate than a recent US Senate Commerce Committee hearing in which members were regaled with Caribbean cruise ship passengers’ horror stories of everything from rape and violence to seeping sewage and hallways lined with bags of feces.
Saturday, August 2nd 2014 - 07:56 UTC
Ebola outbreak 'out of control' but 'can be stopped' said world's top health official

West Africa's Ebola outbreak is out of control but it can be stopped, World Health Organization chief Margaret Chan said on Friday at a meeting in Conakry, capital of Guinea.
Saturday, August 2nd 2014 - 07:48 UTC
Growing concerns the Ebola outbreak could spread globally by travelers

Concerns have been expressed about the possibility of the current Ebola outbreak spreading globally after an infected airline passenger introduced the deadly virus to Nigeria. All outbreaks since 1976, when Ebola was first identified, have been confined to rural and forested areas in Africa, with the previous highest death toll being 280.