The US House of Representatives has narrowly voted to continue collecting data on US phone calls, in the first legislative move on the program. In a 205-217 vote, lawmakers rejected an effort to restrict the National Security Agency's (NSA) ability to collect electronic information.
Argentina’s state-run airline and flag carrier Aerolíneas Argentinas announced this week it will resume its direct flights to New York that were terminated five years ago. On December 15, the company will be offering a daily flight from Ezeiza airport to New York’s John F. Kennedy airport.
The International Monetary Fund no longer plans to ask the U.S. Supreme Court to review Argentina's case in its decade-old legal battle with holdout creditors due to a lack of support from the U.S. government, the IMF said on Tuesday.
Federal Reserve Chairman Ben S. Bernanke in September will trim the Fed’s monthly bond buying to 65 billion from the current pace of 85 billion dollars, according to a growing number of economists surveyed by Bloomberg News.
Venezuela says it's ending talks with the United States to restore normal relations because Washington's UN ambassador-designate criticized its human rights record. Venezuela currently holds the chair of Mercosur.
The Barack Obama administration won’t file a brief next week urging the U.S. Supreme Court to hear Argentina’s appeal in a clash with implications for tens of billions of dollars in defaulted debt, according to a Justice Department spokesman.
The US city of Detroit in Michigan, once renowned as ‘Motor City’ has become the largest American city ever to file for bankruptcy, with debts of at least 15bn dollars. State-appointed emergency manager Kevyn Orr asked a federal judge to place the city into bankruptcy protection.
Federal Reserve Chairman Ben Bernanke said on Wednesday the US central bank still expects to start scaling back its massive asset purchase program later this year but left open the option of changing that plan in either direction if the economic outlook shifted.
The US Treasury Department said it will postpone enforcement of a new law that cracks down on offshore tax avoidance by Americans by six months until July 1, 2014, giving foreign banks more time to determine how to comply.
Uruguay filed a shelf registration with the US Securities and Exchange committee to sell up to 5 billion in US denominated securities. Economy minister Fernando Lorenzo said the filing will allow the government to issue debt when it is convenient for the country and market conditions are favourable.