United States

Wednesday, August 27th 2014 - 06:33 UTC
Argentina revokes BONY authorization to operate and act as trustee

Argentina's Cabinet Chief Jorge Capitanich confirmed that the country's Office of the Superintendent of Financial and Exchange Institutions has revoked the authorization for the bank of New York Mellon to operate in Argentina.
Tuesday, August 26th 2014 - 07:14 UTC
UK embassy apologizes for a cake 'commemorating' torching of White House

The British embassy in Washington has apologized after tweeting a picture of a White House cake surrounded by sparklers, “commemorating” the burning of the building 200 years ago.
Tuesday, August 26th 2014 - 06:42 UTC
Soros group and others file lawsuit against BONY over payments in Euros

A group of hedge funds, including George Soros’s Quantum Partners and J. Kyle Bass’s Hayman Capital, is seeking a 226 million Euro interest payment on Argentine bonds from Bank of New York Mellon, BONY, that was blocked by a United States judge last month.
Saturday, August 23rd 2014 - 06:18 UTC
Yellen insists with expansive policies despite growing pressure from 'hawks' on interest rate

Federal Reserve Chair Janet Yellen said Friday that the US jobs market has not yet fully recovered, but acknowledged that data is sending mixed signals, spurring debate over inflationary pressures. In a speech to leading central bankers in Jackson Hole, Wyoming, Yellen, who has kept Fed policy expansive due to perceived excess slack in the jobs market, gave no clear new signs for monetary policy.
Friday, August 22nd 2014 - 07:43 UTC
Argentina describes Griesa as 'ignorant' and lacking knowledge on democratic institutions

The Argentine government again blasted Judge Thomas Griesa for declaring 'illegal' the bill sent to Congress referred to the country's debt and creditors, and said the magistrate “ignores national sovereignty” and “ignores how democratic institutions function”.
Friday, August 22nd 2014 - 07:17 UTC
Griesa leaves Argentina 'in contempt' ledge; warns any change of jurisdiction was 'lawless'

US District Judge Thomas Griesa declared on Thursday that an Argentine plan to change the 'jurisdiction' of restructured foreign debt was illegal, while resisting holdout investors' demands that Argentina be held in contempt of court for attempting to change the site of payment to Buenos Aires.
Thursday, August 21st 2014 - 08:30 UTC
Kicillof: “no change of NY jurisdiction, but a change of payment location”

Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, Economy minister Axel Kicillof said on Wednesday. But he also emphasized that the bill sent to Congress did not mean a 'change of jurisdiction' from New York but rather a change of payment 'location'.
Thursday, August 21st 2014 - 08:06 UTC
'A contempt of court does not apply to sovereign Argentina', says Capitanich

Anticipating what seems an imminent order of contempt-of-court by US Judge Thomas Griesa following Argentine President Cristina Fernández decision to push a bill to change the payment jurisdiction to Buenos Aires, Cabinet Chief Jorge Capitanich pointed out that as a “sovereign country” Argentina cannot end up in contempt despite Griesa’s warnings.
Thursday, August 21st 2014 - 07:31 UTC
“Slack of US labor market” keeping the Fed from raising interest rates

The US Federal Reserve hinted that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating. At the same time, most Fed officials wanted further evidence before changing their view on when rates should rise, according to the minutes from the central bank's July 29-30 meeting.
Thursday, August 21st 2014 - 07:07 UTC
Aurelius Capital brands Argentine leaders 'outlaws' for flouting US courts orders

One of two hedge funds that sued Argentina over defaulted bonds branded the country's leaders “outlaws” on Wednesday after Buenos Aires moved to shift its bond payment method.